The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-08-25


NEW YORK, Aug. M.-The demand for
securities mostly expanded itself in the
early trading today and the weight Of
realizing sales became more burdensome,
and at the last made the general tendency
doWnwards, although the marking up of
few stocks at the top prices made it
irregular. Northern Pacific and Union
Pacific stocks rose to top prices in the
final dealings. There were quite a num-
Der of rather obscure stocks which held
good gains throughout, but the earlier
rise was almost wiped out
The market started off WELL under the
influence of the cheerful tone of foreign
markets. An early drive against Ten
nessee Coal, which carried it down four
points caused a momentary halt, espe-
cially in the specialties; yesterday
strong upward movement in Tobacco was
resumed, carrying that stock to 1S1h and
causing sympathetic gains of between 1
and points in the leading specialties
There was a large demand for Union Pa
cific, Northern Pacific and B. & O., which
lifted those stocks about a point each.
There was good buying of ST. Paul, which
advanced that stock an extreme e. but
the other prominent grangers did not re-
spond.
When 1t became known after noon that
the directors of the Continental Tobacco
company had failed to declare a dividend,
as many spectators had hoped they
would, there was a drop in Tobacco
stocks which reached "a in American To-
bacco. Sugar, Brooklyn Transit and Man
haitian responded in sympathy, and a
number of railroads lost point The
market drifted rather uncertainty for the
rest of the day, except for some strength
in individual stocks. The reduction of the
dividend rate in Consolidated Gas, al
though it had been fully expected, had a
bad effect on the market. The stock it.
self vibrated feverishly over three points
and closed at a fractional loss There
was quite notable display of strength
by group of minor granger roads, in
Guiding Chicago & Eastern Illinois, St.
Paul & Duluth, Duluth, South Shore
& Atlantic preferred, Minneapolis &
st. Louis, the Wisconsin Central stocks,
Iowa Central preferred, and Des Moines
& Fort Dodge. Gains in this group
ranged from / to ~ points, the latter ST.
Paul & Duluth. Other isolated points
of strength were Ontario & Western, c..
& o., c., c., c. St. l., Cleveland, Lo-
rain & Wheeling preferred, the Reading
stocks, the Colorado Midland stocks, and
Detroit Gas.
Realizing was in evidence all day in
some of the Southern and Southwestern
stocks, which had shown recent strength,
and this, combined with renewed weak
ness in the specialties, made the close
rather heavy except in the cases named.
Money market conditions abroad ac-
counted for the cheerful sentiment from
that quarter and the London buying of
stocks here had its effect In the fractional
decline in sterling exchange. So also had
the stiffness of the local money market
which ruled firm at about three per cent.
The bond market was quite active and
a number Of speculative issues showed
advances. Total sales, PAR value 50, 226, OO0
L. S. old IS REGISTERED declined 12c and
the IS Is in the bid price.
STOCKS
The following were the fluctuations of
the leading railway and industrial shares.
furnished by G. H. r. Smith d Co., mem
and Chicago board of trade: