The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-09-21

la Slower to Move Than Hereto
fore at This Season of the Year.
NEW YORK, Sept. 20.-This was day
of violent fluctuations and great specula-
tive activity upon the stock exchange.
The movement of prices was so feVerlsh
and uncertain that the disposition among
professional operators was generally to
close up accounts with the day. AS
consequence, net changes are aston1sh-
ingly small corsid ering the wide vibration
during the session. In only FEW In
stances do they exceed fractions, and
though the majority are losses there is
fair sprinkling of gains. There was
time in the morning when a long list OF
srecialties had advanced between 112 and
points, and during the afternoon they
fell very generally to as much below the
level. A range between and points was
traversed during the day by the follow
ing industrial stocks: Continental To-
bacco Smelling preferred, Colorado Fuel,
Consolidated Gas, Federal Steel, Man
hatten, Peoples Gas, Tobacco, Metropoli-
tan, Tennessee Coal and Brooklyn Tran
sit.
The railroad stocks did not move nearly
so widely, as a rule, but an extreme
range Of between 17s and AZ was trav-
ersed by st. Paul, Rock Island, Burling-
ton, Northwestern, Great Western pre-
ferred "a" Chicago & Eastern Illinois,
Chicago Traction. st. Paul & Duluth,
Great Northern preferred, Reading first
preferred and Lackawanna.
The index of the market all day was
Brooklyn Transit, the dealings in which
were on an enormous scale. With total
ca capitalization of 100000 shares todays
dealings in this stock footed up 2S5,l75
shares. It advanced 2s4 points after the
opening, fell IA to a new low level, at
751a and then retraced its course, rising
8 points to S35a, and closing at the high
level of the morning. The whole market
followed In its wake, in a general way,
though its erratic fluctuations were i'm
possible to follow at all times.
GIGANTIC CONTEST.
The market was a gigantic speculative
contest throughout. The bears broke
down the gains which had been built up
In the morning with apparently little ef-
fort and dislodged some very heavy Of
ferings on the decline from holders, who
hal vainly hoped that the fall in prices
had come to an end
There was large selling through COM
mission houses, and the flood of indus
| trials poured upon the market was said
to be due to the calling Of some large
| loans, in which these stocks figured as
collateral, and had to be sold to liquidate
the loans. United States Milling Stock,
which sold yesterday at Sc, sold today at
"a, after first selling at 25, an extreme de-
cline of 90 points. The preferred stock,
| after selling yesterday at Is, sold today
at 50 a decline of % points. The closing
quotations for these stocks We're for the
common, 24Q25 and for the preferred, 400
80.
There was no important development to-
day in the money situation. The rise
in New York Exchange at Chicago, and
the advance in call loans at some other
Eastern cities, indicates that the Western
| demand for money has been shifted to
some extent from New York to other
Eastern cities. Considerable sums of
| Chicago money are reported to have been
loaned in New York during the week
The outgo, however, still continues, both
to the interior and to the subtreasury
GOLD SLOW TO MOVE.
Foreign exchange was somewhat easier,
notably so on Paris and Berlin than on
London At this time last year. when
New York surplus reserves had fallen
below S5,0OO,000, gold began promptly to