St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-06-02
FINANCIAL.
New York.


terday, and The transactions OF significance
were narrowed down to three or four stocks.
the rest of the list presenting the usual dull
and listless appearance, their fluctuations
being confined within extremely narrow linz
it's. No change in the general situation
seems likely to lie made until the crops are
well forward
The granting of preliminary injunction
by the chancellor of New Jersey restraining
the Port Reading railway from operating the
Jersey Central was made the basis of an at
tack upon Reading and the early weakness
was The effect, resulting i'll loss of some
thing over per cent. The influence of This
did not outlaSt the fore loon, and partial
recovery was followed by dizziness. Northern
Pacific preferred was the other special point
of attack, but the occasion for the drive was
old and its result was measured by smaller
figures than that in Reading.
Burlington in the forenoon and Louisville
d Nashville later in the day were subjected
to some pressure, but with st. Paul and Erie
they were held within comparatively narrow
limits. The industrials continued 10 be the
strong features of the market, but in none of
these even was the range of prices of i'm
Iortance. The general market showed the
effects of Yesterdays drive at the opening,
which was made at lower prices, Reading
leading with n loss of w per cent, but the rest
of the list with the exception of one or two,
showed only slight losses.
The bears concentrated their efforts at first
on Reading. but later Northern Pacific pre-
ferred was taken in hand, and Louisville u
Nashville followed The declines on these
stocks however, failed TO dislodge stocks in
the general list, and as quotations went down
a stubborn resistance was met with. COM
Polling the operators for lower figures TO
turn their attention to fresh fields. Accord
ingly such stocks as Cleveland, Columbus,
Cincinnati & st. Louis in the absence of sup
port were suddenly attacked and driven
down from 67l4 to IS; Erie preferred from 81
to 81, ana Jersey Central was remembered
i / 4 4 N.
Oregon Navigation also sold down to IS
but recovered a portion of the loss rallylng
to g. Burlington, Rock Island and st. rauI
were pressed for sale, but the resistance was
so efficient that the fluctuations OF neither
reached more than a fraction. Prices be-
came heavy under the continued pressure,
and generally retired 10 a shade below the
opening.
The close was heavy, though quiet, at in
significant changes in most of the list. The
in the market. were dropped suddenly in the
last hour, and the lead stocks are lower this
evening. Among the active stocks final
changes are insignificant, except in Reading,
which lost l per cent.
The Post saws: The selling of our Stocks
for London account continued today, having
i'll point of fact been daily incident Ill the
market for nearly two weeks Nobody be-
lIeves this movement TO be wholly or for the
most part the result of liquidation, and the
question arises how far it is short selling for
the account of London operators, and how
far manipulation from this side. Both fac
tors undoubtedly contribute.
Speculative London is just now bearlsh on
American stocks. Londoners are proverbi-
ally slow i'll understanding bad element III
our railway outlook, and proverblally ten
acIous of its position when it has mastered
the news. Hence the London operators are
doubtless selling now on the bear argu-
ments which prevailed here three weeks ago.
Aside from this, il is evident that the foreign
brokers were badly frightened by the late re-
newal of free coinage talk in the senate.
AS the average Englishman has never been
able to understand the peculiarities of our
government so he fails absolutely and
always to distinguish, in senatorial debate,
between business ana buncOmbe. 1t is very
probable that continuance of the London
sales will cause some. gold Shipments; but
however that may be- il is certain that the
short sellers will be called TO a reckoning at
some future settling day.
Total Sales of Stocks
today were PAS, 0e5 shares. including: 80,
Atchison :. -. u, rs North. Pac pfd. 10 90.
Chicago Gas. =. L, 920 Reading. 80. ...45, S+5
Erie. 17,57C St Paul :. - 81, 90
Louis & Nash II, 7S3 Union Pacific 4. 100
Northwestern. 3SO0I
StOcks-Closing. 81
Atchison.. -. 33s4U p d. 4 Gulf 1914
Adams Express 146 Northw estern 1873
Alton IL T. II e. % do pfd.. ~
do pfd $50 NY Central. -. 1lsss1
Am. Express. .l20 Y, G. & ST. L.. 1Ga4
3d., c. X. d NJ. 10 do pfd. ....7 u
Canadian Pacific. eSs4 *Chio < Miss. 49,. %
Can Southern. -. 5Sl2 do pfd. So
Central Pacific. 3Sl2 Ontario Il " est'n 1919
Ches. & Ohio. 2T7s Oregon Improv't 20
do 1st pfd...... 81 Oregon Nav......tf6
do I'd pfd.. ~ North American. 10
Chicago d Alton .14S Pacific Mail 80. 34h
C., b. 4 Oil ~ p, d. & E.. i7te
Rio g. Western. 3ol2l *Pittsburg 800. l52
do pfd :. -. Il2 Pullman 2. Car. .107
G.. c., G. & st. l. 655s Reading .... 6)A
Distillers' Trust. ASIA Rock Island 49,. 71ss
Del. d Hudson. .14ll2 <St Las F.Istpfd rs
D.. L. Il W. 49,. 100 St. Paul. .......- 1Cl2
d. & II. G. pfd... so do pfd. ......... 1881
East Tennessee. 4I2lSt. p, M. d NJ :. 1l2l2
do LIST pfd.. sc st. p. u Omaha 4gIa
do I'd pfd...... ~ do pfd. 120
Erie...... ....... 26tst Tenn. c. d L.. Ala
do pfd. .... "a Texas Pacific. gA
Fort Wayne. .154 Tol. Il o. e. pfd.. 81
Chicago & E. ILL.,. 62 Union Pacific. -. 39l2
Hooking Valley. 3SAlU. s. Express -. S.
Houston d Texas 3A Wab., st. l.. d p. II
illinois Central -101I2 do pfd ... 24l2
st. Paul IL Duluth 43 Wells-Fargo Elk las
Kansas & Texas. Is Western Union. OBS
Lake Erie u w.. Pass Am. Cotton Oil. 1888
do pfd. ...... 76M Colorado Coal -. 81
Lake Shore 49,. 1928 Homestake $3.50. -
Louisville & N. 72sslIron Silver rs
Louisville d n. A. "a lOntaro IS
sMemphis &Chas. 50 QUICKSILVER 49, 5ls
Mich. central lU1lfl do pfd. ......... liza