St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-12-24
FINANCIAL.
New York.

NEW YORK. Dec. 23.-The STOCK market was
| less active than of late. The, tendency OF
| most marked advance having been i'll Man
| haitian to 49, the highest price attained since
| the late Cyrus w. Field lifted up the quota
| ton to rs in opposition to the wishes OF the
| Gould Sage interest, and which resulted i'll
| the subsequent drop OF nearly one hundred
| points in the stock. Pacific Mail rose
Ia on rumOIs of an impending settlement
of the differences between that company and
Panama railroad. The general list improved
H@S4 per cent. The rise was checked by a
heavy selling movement in Reading, which
declined from 5914 TO 1894 OH IA reiteration Of
the reports recently current that the COM
pany would have to make new loan In order
to get the interest OIL the preference income
bonds. Manhattan reacted lss per cent and
the general list declined Ac, closing about
The lowest figures of the day.
The volume IF business was unusually
small outside of Reading. which figured for
105000 shares. Some of the traders were dis
posed TO sell out because of the near ap-
proaeh of the Christmas holidays Notwith-
standing this and the pressure from bear
sources, majority of the leading shares
showed losses for the day OF only 180H2 per
cent. The silver question was much dis
cus:ed, and good deal of apprehension was
felt considering gold exports. According to
the leading bankers, there will be no ship
ments of the yellow metal by the steamers
sailing tomorrow or Tuesday next. but uu-
of bills in the meantime, exports are TO be
looked for by the middle Of next week.
The Post says The federal treasury's
gold balance inexcess of the S10G, COX, GEO re-
serve reached its maximum of So, 100000 in
the second week of November. From this
figure the amount fell off 10 S23, 100000 two
weeks later but on the 18th of this month,
through the offer of special inducements to
shippers of currency to the South the treas
ury had again been able to raise its
gold surplus to S25, 100000. The export Of
gold which had ceased for ten days after a
shipment of 81, 100000 was resumed Tuesday.
Dec. 49, Since, and including that day,
there has been sent to Europe SIS, 65h, 600 gold.
AS the daily ire asury report deals always
with the business of two days before, yester-
day S statement reflected the latest of the
gold shipments The gold balance reported
in that statement showed decrease of $6,200,-
900 from that of Dec. II. The falling off in
the treasury's gold supply therefore was not
far from three-fourths of the actual amount
of gold exported. l9s
Bradstreets weekly Wall street review:
Speculation has just passed through gu
dalton Of considerable severity. The decline
of values. however, was not general, and the
short duration of the movement limited the
accompanying Reorganization. A rallying
tendency, or, 10 describe 1t more accurately,
q steadler condition of speculative feeling,
succeeded as soon as 1t was realized that the
gold exports for the week aggregated 81. 400.
600 instead of S10000.000 as IL was at
one time believed they would. A
rapid fall of exchange rates due
to the contracting of q considerable an cunt
of sterling loans accounts for this Gimihu-
ton of the outflow, which was soon reflected
i'll the action or the money market Aggre-
gate appreh ensions about the effect of a
heavy loss of gold upon the bank reserves
and on the treasury s reserve stock OF specie,
combined with anticipations of possible
crisis in the currency situation, had fur
nished basis for the increasing stringency
of the money market which made It's appear
ance last week. The preparations of foreign
bankers for gold shipments resulted III the
calling of loans, and set in motion d dis
turbanCe Whic on last Monday assumed all
acute form.
Speculation, however, had been so narrow
and professional of late that 5 '"ks as rule
are poorly distributed, aud there as no eX-
tensive public interest in the railroad share
list to liauidate in panic. The fury of the
movement therefore exhausted Itself upon
a few members OF the Industrial group, Chi
cago Gas and Distillers being the most prom
inent. A partial advance and activity in
such specalties furnished reason for disbe-
lief in their stability, and the heavy and rapid
declines i'll them tended to disorganize the
entire market for time. The conservative
steadiness of the railroad list and the more
conservative specialties. however, aided
in rallying the market Oh Tuesday,
when money displayed decrease
of pressure and q tangible renewal of conf
Qence. Allne same Cllne Iue uhrkeI is ulS-
couraRed and nervous; support Is lacking,
and bearish tendencies govern the general
action of the traders. The renewed advance
in exchange gives rise to further pprehen
sions about gold shipments, the susceptible
ity of the street to rumors OF any kind
being excited in the consi deration accorded
to q story that the secretary of the treasury
contemplated Offering a government golG
loan Of So 100000 to SlO0,00g, coo. The rumol
Is of course, entirely neonfrIred. The
market Friday suffered from a severe acces
sion of holiday dizziness, bear attack OIL
Reading Icing the only feature.
'Ehe Total Sales ofStOcks
today were 100000 shares, including:
Atchison ......1 L., S25lNew England 3. 10(
Chicago Gas. -. 7,640l Reading. 100, O0t
Manhattan . 5,469ISt. Paul. ........ 9,76t
! Missouri Pacific. 0, 100 Western Union. 4.95.