St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-12-04

for sixty day bills and "a S4l2 Tor demand.
The stock market was less active to-day, eSpe-
cially for the unlisted department, but there
was much better tone to the dealings
throughout the greater portion OF the Gay,
and advances are in a decided majority
among the final changes. The features OF
the trading to-day were the continuance OF
the foreign purchases, the heavy covering or
shorts in the general list and the raids on the
coal stocks and the trusts, the last having the
look of q demonstration under cover OF
which to recoup short sales The figures
from London this morning were materially
higher than our last nights closing
and as there were plenty OF buying orders IN
the market for both the long and short ac-
counts, the opening was made at advances
over last evenings prices extending to 7s per
cent in the general list while exceptional
gains were made among the specialties, Ten
nessee Coal being up l Sugar, la and Jer-
sey Central 2. These figures were placed too
high, however, and material reaction oc-
Cured in the early dealings, Notwithstanding
the demand for stocks, and sugar lost all OF
its improvement with something in addition.
The stocks of the regular list, however, were
well maintained and some marked advan eS
were scored, Pacific Mail moving up over 1
per cent on the rumor that the presidents
message would contain clause In favor or
increased compensation for carrying the
mails. Louisville d Nashville, Missouri Pa
cific Il Atchison were all quite strong and at
noon the market was fractional!y better than
the opening prices. The usual daily raid
the demand from the foreigners and the
shorts having fallen away there was mate
rial impression made upon their prices in
very short time. The raid was accompanied
| by rumor that the Cox suit had been de-
cided against the Lehigh Valley, though no
confirmation of the report was had. Lacka-
wanna and Reading were pressed for sale in
large quantities, and the decline in the for
mer extended to 3 per cent. The trusts suf-
| fered to lesser extent but the losses in
them were material. Another endeavor to
| cover the shorts in the last b. our resulted in
| marked rally, which extended TO the entire
| list and sugar reinerieS was specially prom
| inent in the rise, reaching the best
| figures Of the day. Missouri Pacific
| at the time was rather heavy. and lost por-
| ton of the early i'm prOvement The market
| finally closed only fairly active and firm to
| at the best prices or tn ereabouts. The pre-
| ferred stock of the Great Northern railroad
| was traded in in the unlisted department to-
| day, selling at 80. Railroad bonds were
| shade more active to-day, the sales of all
issues aggregating S1,702,0 900, though the
| increase over yesterday was principally in
| the Kansas d. Texas issues, the 6s contrib
| uting 1914, 600 and the 5s 81 10, 600, though
| the Manitoba SIS furnished 1892, 900 The
Kansas G. Texas issues were the strong feat
! ure of the day. the 6S rising lsS to 7lSS,
! and the 5S a fraction. Milwaukee, Lake
| Shore & Western lists lost at 1919.
| The Posts review saws: 1.-The large offerings
! of bankers bills in the exchange market yes
| terdaV and again this forenoon showed that
| money was being transferred to this market
| either for loan or for the purchase of stocks.
| These facts, as well as the disposition to
| cover by shorts. made the opening prices
| here 14@i per cent higher than last night
! There were various rumors afioat to account
| for the sudden drop in the coal stocks. but
the statistics of the coal tonnage for the fifty
four days from Sept. 81 to Nov. % afford a
| sufficient reason for dropi in the coal stocks
as they show decrease of ], 25o, SO tons for
the five leading companies. The expert
! in showing what kind Of a founda-
ton there is for the range of
prices which have prevailed in the last
! month. On Tuesday last both bulls and
sales up to II o'clock of that day were only
| SO, 800 shares of listed stocks, and prices
were only irregularly and fractiOnally
| changed from the previous day. Since that
! there has been an extraordinary succession
| of events to depress the stock market. Con-
| sideTing all the excitement and panicky feel
| ing which prevailed for the greater part of
| three days, the decline has been insignificant
| and shows that there is a strong support to
the market that is not likely to give away
now, even if there came further decline in
the coal stocks as the result of the
poor coal trade. Notwithstanding reports
| to the contrary, tbs negotiations for
the transfer of the Denver, TaXas d Fort
Worth to the control of the Union Pacific
| hayeterminated successfully, and the oper a.
| ton of the road was transferred Yesterday to
| the Union racine omcltls. Inc new copOTa'
tiOn will stand in the same relation to the
| Union Pacific as the Utah a. Northern and
Oregon Short Line. The 600 miles of the
Union Pacific Colorado lines have been earn
ing and paying dividends into the treasury
| of the Union Pacific, and it is expected that
| the new consolidated stock for which the
Denver & Fort Worth stock aud the stocks of
the Union Pacific Colorado lines are to be
exchanged on equal terms will be on divi
deDd paying basis within year. The total
| sales of Stocks Today were :S749 52 Shares
including: AtchisOn, 1880: Delaware
Lackawanna&Western,5 $50 i0;Denver. Texas
& Fort Worth, 4420; Louisville & Nashville.
| 1880; Missouri Pacific, 1900; Northern