The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-08-24

NEW YORK, Aug. 23.-Affairs in the
STOCK market took on a cheerful appear
ance from the opening today, and there
was no material setback in the advance
IN prices from start to finish, though tbs
dealings were decidedly irregular at
times during the day. 1t became mani
Test at the opening that inside interests
in Brooklyn Transit We're prepared TO
offer very determined resistance to any
further decline in that stock, which thew
have not been doing for some time past.
Today the price was never more than ~
above last nights level, and was extreme
W feVer1sh all day within a range of
about 2 points. But pressure about the
stock was relaxed when the determined
nature of the support became evident
There was some disposition to cove
short contracts in other stocks which
have shown sympathetic weakness with
Brooklyn Transit. The cessation Of the
bear campaign left the way open for ali
unonpOsed advance, and there was a
large element inclined to buy stocks
The advance in American Tobacco was
the most conspicuous movement of the
day. A deluge of offerings was encoun-
tered at about every point up. whit
caused temporary halt, but af er the
absorption of these the upward move
ment was resumed. The extreme rise
WdS over pOlHlS- Continental 1ODaCCO
stocks rose and over 2 points respec.
lively in sympathy. Sugar showed mo
mentary weakness at the opening, put
was increasingly strong as the day prog
ressed, and is up 212 on the day. There
were heavy takings of Leather stocks,
which have gained Hoops respectively.
In the railroad list business was ex-
ceedingly well distributed, and a large
number of stocks show gains of between
l and points. The most notable feature
in this department was the tendency t.
turn to the middle and low-priced stocks
while the high-priced and established div
idendpaying stocks were almost uni
Versally left quiescent. In fact, not
few of this grade show small net losses.
The low return at present dividend rates
made by the high grade railroad stocks
and the prospects of coming dividends or
increased dividends in lower grade is
sues, owing to the continued increase in
railroad earnings, were the motives OF
this development in speculation. Com
mon stocks of reorganized companies
having preferred stock ahead of them
whose claims are provided for with an
accommodating surplus of earnings beyond,
were the faVOrites Some of the South
ern and Southwestern stocks which have
had recently large advances were heIu
back by realizing.
With the exceptions noted strength
was well distributed through the differ
ernt railroad groups. Net gains of
points or upwards are shown by Balti-
more & Ohio, Erie f1rsts preferred, Hook
ing Velley, Northern Pacific, Fort Worth
& Denver. ST. Paul & Duluth rose all
extreme 4 points. A much more cheerful
sentiment was reflected from foreign
stock markets today, and London was a
buyer on balance in this market.
The bond market was active and
strong and dealings were fairly well dis
tributed amongst the speculative bonds.
Total sales, par value, $3,0O7,0 Co., United
States IS declined "A in the bid price.
STOCKS.
The following were the fluctuations of
the leading railway and Industrial shares,
furnished by c. H. T. Smith q Co., mem
bers of the New York stock exchange
and Chicago board of trade: