The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-28
The Stock MARKETS.


NEW YORK, Oct 27-The stock market
showed a continuation of yesterdays strength
To-Day, and the speculative activity broadened
out considerably in addition. There was not
quite such congestion of trading in Tobacco
ana Sugar, although those stocks continued
to be the leaders in point of activity. They
were traded in all day at q level below yes
slightly above yesterdays price for a brief
interval. The covering of shorts which
caused yesterdays rise in Sugar left that
stock weak again ard the extreme decline
from the high point was ga rally at TIE
close leaves the net loss 1Mc. Tobacco was
under pressure on the suppositOn that the
recently incorporated company is destined to
De powerful competitor and on denlaiS OF
acceSs1ons to the American company OF out
side Plug tobacco companies. The stock was
at one time off 2Acs! but closed with small
net gain. In railroad securities the continued
dizziness and hesitation on foreign exchanges
was without effect There a large de-
mand for quite an extensive list OF railroad
stocks, the grangers leading with pretty
much all the Western and Southwestern roa ds
showing a good tone. The Eastern trunk
lines continued to lag on account Of the ad-
mttedly bad rate situation in that territory
which nullifeS the benefit Of the exceptionally
large tonnage which is b5ing moved. ST.
Paul was the leader in the railroad list and
the movement Of the stock supposed to
foreshadow good September statement, due
tomorrow. The gross increase in earnings
for the year is known to be well on towards
100000, and 1t is Csurmised that the state
ment will show aIreduction in the recent
heavy rates of expenditures for Improvements
charged to operating expenses. The Sep
tember statement of Union Pacific, VIII lie
showing a decrease Of over $4,000 in gross
earnings. showed operating expenses so large
ly reduced to leave an increase in surplus
earnings of SIP, $50. The delayed movement
of cotton now coming forward and the de-
crease of yellow fever foreshadows god
earnings for Southern and ,uthwestern rail-
roads. The easier tone today of sterling ex-
change was the direct result of the calmer
feeling in Paris. There was heavy remand
for sterling here, yesterday, for Paris ac-
count, which sprang from the same cause as
that which lifted exchange on London in
Paris above the gold export point, namely,
the pressure to transfer funds from Paris to
London. 1t is also known that the recovery
in British consols was directly due to buying
on the part of Paris capital. on account OF
domestic unquiet, ard not altogether to the
relief of the Anglia French tension Over
FashCda.
There was a good absorption OF railroad
bonds today, and prices arc generally hlg er.
declined, NC, do registered, &c, while the
threes registered advanced &c in the BID
price. ooo
shares, including Atchison pfd, 9,S0S: c., B.
\ 9357: Manhattan, ASA NortEern Pacific
10 $50; Rock Island, "a 1850; St. Paul, 1885;
Southern pfd, 4,170; Union Pacific pfd 16000
American Tobacco, 29,G20; Fed. Steel $3.50;
do pfd. $500; Peoples Gas, 5.445; Sugar, 49,
eco; U. S. Rubber, 1880.
STOCKS.
The following were the fluctuations Of the
leading railway and industrial shares, fur
nf-hcd by c. H. F. Smith & Co., members
of the New York stock exchange and Chtcago
board of trade: