The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-14
The Stock MARKETS.

NEW YORK. Oct. 13.-The advance in
prices on todays market was even more sig
nifcant Of the Improvement in the specu-
lative sentiment than that OF yesterday. For
one reason this was true, because quite
large snort element was eliminated by yes
terday's advance. Another factor that might
nave been utilized by the bears the
depression in foreign markets, SO marked
as to imply some knowledge of pending po-
Ht1cal complications in the deeper fnan-
eial currents Not only was this indicated
by the heaviness of securities. fall Of 5-16
IN BRUSH consols and of Is confines in
French rentes, but the excited condition of
the the foreign wheat markets. The opening in
Wall street brought orders to sell $1,000
shares or upwards of stock for London ac-
count. The bears did, In fact avail them
selves of this opening to make drive against
the confident manner in which all offerings,
both for London and for the short account,
were absorbed, took all the assurance out
OF them. and their only other aggressive
move during the remainder of the day was
a drive against Tobacco. The bears have
counted much on the damaging effects of the
war in the sugar refining industry, the con-
hict over the plug tobacco trade and the
reported divergence OF ideas among the pow
ers Of Northern Pacific over the question
OF a dividend on the Common stock to check
any advance in the market on account of
favorable railroad returns; and the generally
prosperous outlook for the future The move
ment OF prices IN securities gave warning
or compromises and adjustments and took
away the mainstay Of the bear movement.
ne process OF covering of short contracts,
therefore, proceeded a large scale and
large financial interests offered aggressive
support to the prices of properties in which
they were interested A significant feature
of the days trading was the investment de-
mand for small lines Of gilt-edged stocks.
There was conspicuous movements of this
sort In st. Paul preferred, Pullman, Great
Northern preferred, Manitoba, Albany &
Susquehanna st. Paul & Omaha preferred and
pennsylvania. The advance in Pullman
Manitoba and Great Northern preferred ex-
tended from 312 to Az per cent and Manitoba
closed with bid ~ higher than last night
Loans were made at per cent today and
there is costant increase in the supply
of money offering, both for time loans and
mercantile paper. Short sterling was sight
~ hrmer In tone in response to the ad-
vances in the Bank Of England's rate. A
small engagement of gold for import was
an influencing sentiment. The days net
gains equal point for many stocks
The demand for high grade bonds was a
reflection of the growing abundance Of sur
plus capital. Total sales, 50, 005 900. United
States IS. the dds As registered and the
new As advanced 4 in the bid prices. The
IS coupons sold at 1851, the highest yet
Total sales of stocks today were sos, 400
shares, including: Atchson pfd, 1853; c.,
B. & O., 1856; Manhattan, 1925; Northern
Pacific, 43 $50; Northern Pacific pfd 1850:
U. P, $500; st. Paul, 14,620; u P pfd
1850; American Tobacco 28, 1855; PEOPLES
Gas, S,908; Sugar, $500; Rubber, 1925
STOCKS
The following were the fluctuations of the
leading railway and industrial shares fur
nished by c. H. F. Smith & Co.. members
of the New York stock exchange and Oh cago
board Of trade: