The Saint Paul globe., 1900-04-27
STOCKS CONE Up STRONG
PRINCIPAL INFLUENCE IN RISE
DUE TO TO ACTION OF PENN
SYLVANIA AND B. & o.
BULL POOLS IN EVIDENCE
Those Who Were Interrupted by the
Steel and Wire Incident Again
at Work-HOnds Were
Active.

NEW YORK, April 26-The stock mar
ket developed an impressive show CT
strength during the latter part of today.
The principal influence in the rise was
the resumption of the upward movement
in Pennsylvania and Baltimore & Ohio
stocks. The recent reaction IN these
stocks has been accompanied by rumors
that important speculative interests,
which have been prominent In the ad-
vance, had sold out and taken their prof-
it's. The news of the very heavy outlayS
in prospect for permanent betterment
and increased shipments awakened some
apprehension OF dividends, increases be-
ing indefinitely postponed, not only IN
Pennsylvania stock, but on B. q .. and
many others which have been subject to
rumors Of increased dividends, but to-
day the report of a probable increase IN
the Pennsylvania dividend took form
again and was related with great ex-
plicitness. Bids were made on the board
for the next semi-annual dividend on
Pennsylvania on thousands of shares of
stock 244 per cent, compared with Pc per
cent, the last rate. The meeting of the
directors for the purpose OF fixing the
dividend rate is fixed for Tuesday next.
These reports in regard to Pennsylvania
{ had the most indirect influence on Balti-
more q Ohio stocks next to pennsylvania
itself, but the whole railroad list re-
spended In varying degree to the in
ffueHce of this movement.
The pools, whose operations for rise
were interrupted by the Steel & Wire
rise to some extent. This was notably
true of the Gould Southwestern group,
which are subject to teeming rumors OF
prospective combinations or consolida-
tfonS. The determined ffrmneSS OF Sugar,
and its buoyant upturn later, had SYM
pathetic effect on the market. The move
ment is still attributed to the demand
from the shorts, but the many aSSer-
tions Of favorable developments in the
trade war may also have had their effect.
A number of unusually favorable railroad
statements also had a strengthening eff
feet on the market. Increases In net
earnings for March were reported by the
Atchison, Topeka & Santa Fe of So per
cent, by the Hooking Valley railway of
10o per cent and by the Central of GeOr-
gia of SO per cent. Returns Of gross
earnings for the third week in April were
also uniformly favorable. These factors
of strength caused growing uneasiness
among the rather unwieldly short inter-
est, and the demand from that element
had no small part in the rally in the
market.
The unsteadiness of the sterling ex-
change market today gave ground for
renewed uneaSfneSs as to the continuance
of the present gold export movement.
The strong return Of the Bank Of Eng
land for the week, as well as that of the
Imperial Bank of Germany, had some ef
feet on the exchange market. The sub
treasurY's debit balance at the clearing
house showed a further decline today,
falling to $780, ,119, compared with the re-
cent average of over a million dollars.
If this repienishment to the money mar
ket is cut off it may serve to prevent the
outward flow of gold
The bond market showed increasing ac-
tivfty and strength today. Total sales,
par value 81. 49, 900. U. S. bonds were un-
changed in bid quotations.
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith &
Co., members of the New York Stock ex-
change, Pioneer Press building, who have
direct wires to Chicago and New York
C ioSing prices are, bid: