The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-08-23

NEW YORK, Aug. "a fierce con-
hict ranged all day today between op-
posing speciality interests on the stock
exchange, The industrial specialties
were the chosen field Of battle and the
NEST violent contest ragged about Brook
lyn Transit, as has been the case for
many days past This stock showed
evidence Of support at the opening of the
stock market, and got at one time over
q point above last nights closing level
In the face of this support and a rally
IN international Paper from its severe
loss of yesterday, the bears turned their
attention to other stocks, which seemed
for the moment to offer a more vulner-
able point Of attack. Sugar dropped al
most Immediately 2h on account of the
cut in prices of refined sugar by the
company and the meeting of it by COM
peting concerns. Steel and Wire lost 2
en- the failing of the listing committees
of the stock exchange to act favorably
on the application of the company for
the admission Of the stock to the listed
department of the exchange. Later in
the day Manhattan and Consolidated
Gas were added to the objective points
of the bears.
All those stocks were so severely han
died as to check very materially the dis
position to buy railroad stocks, which
showed itself in continued force during
the early hours of the trading. Much
had been hoped by the friends Of Brook
Ign Transit from the publication of a
statement of the cOmpany's finances and
estimates of earning power, under the
recent consolidation. The statement,
when published, proved to be obscure,
and the estimates were so far from sat-
isfactory that a perfect deluge of stocks
for both accounts was poured upon the
market carrying the price down by sue
ceSsiVe jumps to Il above par, an eX-
IRENE drop of nearly points. Only the
most determined support checked the
decline at that point, enormous indi-
vidual blocks being taken before the
rally was effected. The stock was lifted
again to 1925 and closed at 1925. The
| Decentralization in Brooklyn Transit was
{ shared in lesser degree by Sugar, which
| dropped an extreme 5A; Manhattan lost
! at one time nearly 4, and Steel and Wire
common and preferred, Federal Steel,
| Peoples Gas and Metropolitan, which de-
| clined from l to 2 points.
! The extreme weakness Of the special
| ties was ignored for a time in the rail-
| road list where there were early ad-
! yances in Denver 6 Rio Grande, Nor
| folk e. Western, the Reading stocks, Bal
| timore s, Ohio, and w. l.. E. W.2d pre-
! ferred, the latter rising over 2 points.
| The continued and violent decline IN
! Brooklyn Transit caused sympathetic de-
preston throughout INC LIlShihSl1
gains being mostly wiped out, and a
number of standard railroad stocks, in
| Guiding grangers, dropping a point or
! over below last nights prices.
The rate for call money rose to per
| cent late in the day, probably not with
out manipulation, but quickly yielded to
| 8 per cent, near which it had ruled all
| day. The final rally in Brooklyn Transit
afforded relief to the whole market and
losses were partly retrieved, the most
| active specialties recovering from TO
| points. There was a notable advance
! late in the day in the Norfolk & western
stocks after the common had reacted a
point with the general list. These stocks
| show net gains of 2fs for common ana
| ~ for preferred. London sold ABOUT
90. 600 shares on balance in this market.
The bond market was active, put
changes were small and irregular. Total
sales, par value, $267S,O0O. United States
| bonds were unchanged.
STOCKS.
The following were the fluctuations OF
the leading railway and industrial shares,
furnished by c. H. F. Smith 4 Co, mem
! hers of the New York stock exchange
| and Chicago board of trade: