St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-12-01

spond TO calls for more margin. which pre-
cipitated upon the market a Hood of long
stock toward The close, breaking the market.
though the final losses in most stocks are
confined TO fractions. Chicago Gas was the
first In point of activity, with 4O,3l5, and
Sugar Trust next with 49, Tho entire
list is lower. and sugar is down
6ss; c., c., g. & ST. Louis, 2ls:
Chicago Gas. 2; Tennessee Coal, 2ls; Chesa
peake & ohi9 End preferred, ~; Jersey
Ia: Wisconsin Central, lis; ST. Paul and
Burlington & Quincy. per cent each. Rail-
roads bonds failed to respond TO the activity
and excitement in stocks and the dealings OF
the two hours reached only S6ll 900, whiie
the fluctuations were Insignificant as rule
and no tendency in either direction could be
noticed, the final changes eing about equal
~ divided between gains aud losses. North
western debentnres rose 2l2 to llll2: Den
yer & Rio Grande 5s 2 to s6. The sales for
the week were S6,3l 900, against 81. 397.-
90 l,for last week. The Posts financial arti-
lclo says: There Is no question that there has
been pretty free liquidation by bulls who
have become apprehensive about the effects
the losses experienced in the last week by
the two great fires and by the losses sustained
I'm the trust stocks The bears. finding that
the market bristled all over with stop orders,
and that there was apparently no support Tor
anything, have attacked IL with impunity.
The, telegraph Informed us few days since
that the so-called Hunt system" OF rail-
roads III Eastern Oregon and Washington
had just been completed. This system con-
sistS of several short roads built to sell by
speculative contrat t,r They form almost a
duplication of the existing branches OF the
Oregon Railway and Navigation company.
They represent an unnecessary investment
of capital which should DC absolutely dis
eounteranced by bankers and the in
vesting public. We say this because
we learn that the owner of the roads is trying
to sell his bonds in this market. The roads
represent the same kind of over-bullding
that compelled the banking fraternity to
join in the interstate association in the
granger states, and agree not to aid in the
construction of new lines where old ones
were struggling for doubtful and preca-
rious existence. The Hunt system will re-
duce the earnings of the Oregon and Union
Pacific system, but cannot, as we are in
formed by competent judges, earn its own
fixed charges. The exports of specie from
the port of New York last week amounted to
S3I9.llO. of which SS.047 was in gold
and S3lI ,O67 in silver. All the silver and
81, 300 in gold went to Europe, and $5,747
gold went to South America. The imports CT
specie for the week amounted 10 Sl95, 6O5.
of which Sl09, 4S5 was in gold and $50, l2O
silver. The total sales of stocks to-day were
26O. 72i shares including: Atchison, 5000;
Delaware, Lackawanna d Western, $500:
Denver, Texas e. Fort Worth. 3d.: Lake
shore, 5000; Louisville d Nashville, a. 500;
Missouri Pacific, q Ob; Northwestern, 4, 800;
Northern Pacific preferred. 5000; Reading,
1890: Richmond d. West Point, 500; ST.
Paul. 1850; Union Pacific. II, $40; West
ern Union, S,6O'.