St. Paul daily globe., 1889-02-09

market was somewhat mixed to-day.
but the general drift of prices was in
the direction of lower figures, and the
great majority of stocks are fracti0naliy
lower than last evening. There was a
marked sentiment in favor Of reaction
this morning, and the arbitrage deai-
ers were conspicuous sellers OF stocks
at the opening, which gayt weak tone
to the list at the outset: and though the
rest of the list seemed to be inclined to
follow the example of the London fayer-
ties. q few conspicuously strong upward
movements III the SpecialtieS, with
which Richmond IL West Point joined,
prevented during the forenoon any pos
tive declines. The buying of the
last-named stock was stimulated
by the reports CT the new con-
neetions and their advantages and
the Briee and Thomas interests were
prominent in bidding the stock up. 1t
was soon after reported that the agree
ment between the Big -Four and the
Cincinnati, Cleveland, Columbus d Indi-
annapolis had been actually signed and
those two stocks immediately took the
lead among the strong shares and the
former finally scored a gain of 4per
cent, while the advance in the latter
was much more moderate. though ITS
late rise has been something eXtraordi-
nary. The Vanderbilts were believed
TO be the principal purchasers of the
two stocks. and this stimulated a heav-
ieE rise than might otherwise have been
made. Chicago & Eastern Illinois next
took up the attention of the room, and.
on buying by insiders, scored hand
some gain. The weak spots on the list
were the gfangers and SouthweSternS,
the disturbing influence being in the
shape of telegrams from Chicago that
the Burlington had withdrawn its
order to put in force the Iowa
tariff, though the other roads would
conform to it. and reports that the
presidents were slow in signing
the new agreement was also used
against values. A heavy failure in
Boston was made the occasion Of re-
newed selling of the stocks in which
that center is interested. and Atchison.
Burlington and New England were sold
Off. the iilst two to a marked extent.
The pressure against the grangers be-
came especially severe toward the close,
and st. Paul preferred made the most
marked decline of the day. The spe-
cialties were almost without exception
strong and comparatively active, and
the ease with which any of. them may
be advanced at present was eXempliied
by the rise in Nashville IL Chattanooga
S5t5 to S715 in about an hours time.
1t was Pullman's weak day, and it re-
tired to 20e15. The opening was less
active than yesterday. and the losses
from last evenings figures extended to
Is per cent in the general list, and, with
the heavy tone prevailing, the business
done sagged off slowly during the en-
fire forenoon, but when the real at
tacks were made upon the market
there was more animation. New En-
gland was quite weak spot in the early
trading, while c., c., G.. & /. and Big
Four with Chicago Il East Illinois pre-
ferred were the strong features of the
forenoon. Richmond & West Point
gave way in the afternoon, but Chat
tanoega became the leading strong
stock, but in the last hour st. Paul pre-
ferred dropped suddenly while the
whole list declined fractlonally. and
after slight reaction from the lowest
figures the market closed heavy and
active. Big Four is up 4 per cent, C.,
G., G. & |. ~, CHATTANOOGA lS and .
few others to a fractional extent, but
most of the list are lower, and ST. Paul
preferred is down 2s4l, Burlington rs,
St. Paul, Pacific Mail, Louisville &c
Nashville, Northwestern and Rock
Island TX each, Atchison and Pullman
each l per cent and others fractions.
Railroad bonds were not very heavily
traded in, the sales of all issues reach
ing only 50, 100000, and the heavy tone
of the share list was seen i'll some
directions, although most OF the
list were still strong. There were
a small number of issues traded in and
no marked movements were made.
though Richmond 81 Allegheny first
certificates were specially active, as
were also the Chesapeake & Ohio cur
reney certificates, and they furnished
ss2243, eco and s119,et0 to the Gays total,
respectively. Government bonds have
been dull but firm. State bonds have
been dull and steady. The total sales
of stocks to-day were 3e4, ,927 shares, in
Guiding Atchison, 1854; Chicago q
Eastern Illinois, $500: Delaware. Lack
aWanna Il Western, IA. 13e; Lake Shore,
3,5O6; Missouri Pacific, 1850: North
western, S.G49: Northern Pacific pre-
ferred, II. .2295: Oregon Transcontinental,
10.S60; Reading, 1850; Richmond q
N. p, 1851; St. Paul, 16,430; Union
Pacific, 4.37o; Western Union, $3.50.
r. M. kEMFoRT g. SON
Investment Bankers.