The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-13
DVUW III dOI IOO
ISSUES STILL THE CENTER OF IN
TEREST IN THE STOCK
MARKET.
LIQUIDATION MIXED IN, TOO.
NORTHERN PACIFIC COMMON BID
UP, WHILE THE PREFERRED
FELL OFF.
LIQUIDATION MIXED IN, TO(
SUGAR UNDER PRESSURE AGAIN.
Progress of the Market Uneven,
Owing to the Nature of the
Days Trading.

NEW YORK, Jan. 12.-Todays market for
securities was much of the same character
as yesterdays. The principal interest was
centered in Union Pacific and number of
its affiliated companies, and in Northern Pa
cific, which were the leading factors of
strength, while On the other hand Sugar
continued under weight of depression as
was the case yesterday. new feature OF
special strength was c. & o., which advanced
a point on heavy buying. Transactions
were on a very large scale, and the dealings
of large operators backed by the powerful
interests were manifest all through the mar
ket These large operations attracted
considerable following both amongst the
smaller traders and from outside sources.
Commission house business was, in fact,
quite noticeable in the days trading. 1t
was obvious however, that realizing on
large scale was going on in different parts
OF the list, coincidently with the strength in
other parts. A striking example of this pro-
cess seen in the two Northern Pacific
stocks, the common being advanced over
point while realizing in the preferred carried
it, before the close, below last nights last
sale. The grangers outside of ST. Paul will
also be seen to reflect a supply of stock fully
equal to the demand. The anthracite coalers
were weak and continued to decline, but
the Ohio soft coal roads maintained their re-
cent show Of strength.
Union Pacific rose at one time over 2
points, but recent buyers commenced to take
profits as soon as report was published that
the new company had secured control of Or
egon Short Line and the stock reacted over
point. The recent strength of the stocks
of the disintegrated portions of the old
Union Pacific system is fully explained by
today's announcement. This buying was
evidently founded on belief in far-reachng
m Of hinat ion and cir I-bic
according to some prevalent rumors, will
embrace one vast system from the Atlantic
to the Pacific. Much was made in the mar
ket on reported bond issue by the c. d o.,
though the view of benefits to accrue seems
to be somewhat exaggerated, regarding the
amount of transactions. AdviceS from the
London and continental markets showed the
tone of American securities in foreign finan-
cial markets to be excellent. London bought
in this market no less than 20 600 shares of
the favorite International stocks and the
marked strength of Union Pacific, Denver &
Rio Grande preferred and Northern Pacific
was directly attributable to this demand.
t The weakness in Sugar seemed to be con-
nected with the annual meeting of directors
in progress today, though no news regarding
! the company reached the public
Money declined to yield today below 21a per
cent, but the tone of the market reflected the
prevalent feeling that rates will yield in the
near future. Large amounts of money also
! found their way into investment and specula-
ton today. The available possibility of
relief to the money market was indicated by
the fall of y in posted rates of sterling ex-
change and the decline of "A in the actual
rates, the decline not being prevented by the
expected arrival tomorrow at San Francisco
of another 81 coo in gold from Australia.
The par value Of today's transactions in
bonds is not as large as that of yesterday,
but business was remarkably well distrbu-
| ted all through the list. Gains were the
| rule, but there were some declines. Total
sales, 4,775 eco. United States old As, cou-
pom, and the Is were 12c higher bid today.
| There a sale of the As, coupon, at
1.29$.
Total sales of stocks today were 400, 400
shares, including 1854 Atchlson preferred;
! 207 1872 Chesapeake e Ohio: 772 Burlington;
| 3,2SS D. G r. G.. preferred; 1876 L. & N;
/ 20 900 Manhattan; 4335 Metropolitan; $500
! Hawaiian Commercial company; 1920 Read
! ing preferred; 1922 Missouri Pacific; 500 N.
~ c.; %, $40 Northern Pacific; 81, $50 Northern
Pacific preferred; $3.50 Rock Island; 38, $50 St.
Paul; 4497 Southern 1889 Southern pre-
| ferred; 1921 Union Pacific; 1910 U. P, D.
| & g.; $3.50 Wabash preferred; BIO Wheeling
C Lake Erie; 1920 Tobacco; $3.50 Chicago G.
W; 44S5 Peoples Gas; 1850 Laclede Gas; &C.,
! 900 Sugar; $685. T. c. & l.; 5143 Western
| Union.
The following were the fluctuations of the
| leading railway and industrial shares, fur
nished by C. H. F. Smith & Co.. members
| New York stock exchange and Chicago board
| Of trade