St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-10-30
FINANCIAL.
New York.

New YORK. Oct. 29.-The opening of the
STOCK market this morning was awaited with
no little anxiety by the bulls, as it was feared
that the great fire in Milwaukee would have
Il bear influence on prices. The uneX pected,
however happened again, and outside of ST.
Paul, which fell off IS to 20 on report that
the company had sustained damages by the
fire. the market was tolerably steady, while
New England was exceptionally strong. 1t
was subsequently stated by Vice President
Bond, of the 81. Paul road, that his company
had not lost Il dollar, as its property is not
situated in the burned district
After the opeuing Disabling d Cattle Feed
ing was subjected 10 severe raid. and there
was break from 81 to CHA. The old reports
about fresh issue of stock to pay for new
property were revived, and again denounced.
One per cent was bid for the next quarterly
dividend. 1t was noticed that the demand
for the stock in the loan crowd was decidedly
better than for some days past which indi-
Gates an oversold condition of the market.
Chicago Gas was also hammered down from
951s to 924. The general list weakened sym
pathetically.
In the last hour of business there was dis
tinct change for the better. owing to the IA
vorable exhibit of the associated banks. The
street had expected loss of about $500, 00G
in reserve, whereas a gain of Sl.56i 25A was
reported. This places the amount held in
excess of legal requirements at S3. S|3, SIS.
In 1891 it was Si23aS 525 and in 1899, SOL. 9Sl
As the morning grew to close the bulls be
| came more confident and advanced prices
| right through the list. Dislilling and Cattle
feeding recovered the early loss and sold al
| 64ls. Chicago Gas ana the Changers rallied
| sharply, while New England lost part of the
early gain of Is per cent.
| A conspicuous feature of the later trading
was the activity i'll the specalties. New
York Il Northern preferred was the first to
| start and OIL large transactions for that stock
| advanced from 20l2 to 23I. The rise was at
| tributed to statements that the road will be
/; taken into the latest Reading deal because of
| its connection at Brewsters, in this state
with the New York & New England. Man
! haitian was frmer at l64.. 1t is stated that
| William c. Whitney, who is also largely in
| terested in the New York d Northern and
! Metropolitan Traction companies, will be
| given place in the Manhattan directory al
| the annual election on Nov. 9.
| Ontario d Western rose from 10 to 203s on
vague rumors that the Vanderbilts had aci
! quired block of the stock. New York, Sus-
! quehanna q Western common moved up tc
! 1855, and the preferred jumped from 6SI5 tc
| IS. 1t scurrentiy reported that this road is
| also TO figure shortly in an important rail
road deal General Electric advanced to
| 1l5 75. The market closed strong. The tota
| sales of stocks were 1885, listed and q, 49l
| unlisted stocks.
| The Post says: 1.-THE course of the Ioca
! money market is puzZling 10 those who have
reckoned on the growing stringency: But tc
| those who have recognized the part PLAYED
/ i'll the recent advance OF rates by the
ment in the stock market, this weeks
| slackening in demand is not at al
| surprising. 1t is to this diminished demand
! for money and not to a diminished supply
! that the decreased loan account of the day!
I bank statement is attributable. The increase
in specie and legal tenders. moreover, re
| fleet decided change in the movement o.
| currency. A decreasing demand from the
| interior has been noted for fortnight past
y othing. indeed, has proved the change il
! this regard more clearly than the slower in
crease in the treasury gold supply So lon.
as the New York banks had to get treasure
currency for westward shipments, and hac
to pay gold to get it, the governments golC
| reserve piled up with great rapidity In the
first two weeks of October the treas
ury's gold balance increased at thu
rate of nearly S2.e00.00O week
since then the increase has fallen to week.,
! average of less than half million This fall
ing off in the interior movement has in
fuenced the feeling of lenders, and decreas,
in stock market activity has at the same tim,
cut down the demand from borrowers. How
the situation will operate on next week
money rates may De problem atical for inter
esq charges still reflect sentiment and-ex
pectation. Meantime, of course, the return
ing ease of our money market coupled with
the tightening market abroad, diminishes III,
probability of immediate gold imports
The Total Sales Of Stocks
today were 1G4,0 0J shares, including:
Atchison. 2,700INew England. is. so
Burlington ...... $3.50 Ontario & West I6 20
Chicago Gas -. .11.000 Reading. ....... 6 40
Distillers. 47.SG0!St. Paul. 49,. Geo
| MONey Markets.