St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-04
FINANCIAL.
New York.

New York, Feb. 3.-The falling off in the
exports of grain is having some influence in
the stock market, and indicates that there
will be falling off In the earnings of some
railroads during January and February. The
feeling of confidence that the reports will
soon again become large continues, and that
there will be a corresponding improvement
in the prices of railroad securities is not to be
doubted The market today was feverish and
very much mixed all day, and the good buy
ing of Western Union. Manhattan. Wheeling
and Lake Erie preferred and Lake Shore in
the forenoon was more than offset by the
heavy selling i'll the industrials, A;chison,
Union Pacific and Louisville and Nashville
later in the day, although the squirt i'll the
cOalers had good effect for some time
There seems to be strong impression that
there will be an increase in the dividend on
Western Union when the next quarter is de-
clared and the strength of the stock is very
pronounced. aided by the impression that the
Gould interest is now ranged Oh the bull
ever, came from Chicago and was exerted
most vigorously in the industrials with
which the center is identified with, but the
grangers came in for their share of the
losses in the afternoon drive which brought
the price of many stocks to a lower level than
they have been in some time. Distillers was,
of course, the most prominent one, while 1t
was well held for some time after the open
ing decline it gave way with a rush in the
afternoon accompanied by Chicago
Gas and the cordage stocks, whose high
prices invited an attack. The extreme loss
in the latter was 3l2 per cent, while the others
were not far behind. Among the railroad
list Louisville g. Nashville continued to yield
right from the opening, while New England,
after weak spell III the forenoon, was held
quite firm against the weakness of'the rest of
the market during the rest of the lay. Bur-
lngton was feature of the late drive, but
its early improvement prevented any ma
terial loss for the day. The rest of the mar
ket, after steady opening, developed con-
- l. L. 81,
only fractional. and the demand was at no
time urgent.so that with the pressure brought
10 bear by the bears prices in yielded slowly
all along the lire.
The concession was in no case material
outside of the shares mentioned, and a SLIGHT
rally occurred in the last half hour. The
market closed weak. however, at or near the
lowest prices. The cordage stocks wer
especially weak in the last drive, and the
common lost 3l2 per cent. Other material
declines were Distillers, 2ss; Chicago Gas,
2; New England, 15s; L. d N. u; Union
Pacific, per cent Hooking Valley was re-
markable for its strength in the afternoon
and it scored net advance of per cent, but
the other lowpriced shares were i'll no
way remarkable during the day.
The Post says: Taken as whole, today's
trading was made up of intervals of entire
stagnalion and sudden activity. the activity
arising for the most part from the execution
of selling orders. The discredit which has
attached itself of late to the industrial stocks
as class helped along a sharp break i'll Ma
tional Cordage during the afternoon. This
concerns annual report came to hand today
and disappointed all the glowing expecta-
tons aroused last summer. But such dis
couragementS are too familiar under the
management ana methods of trusts to call
for detailed comment. This incident was
the signal for the general bear raid that was
expected but did not come all day yesterday.
The entire market was vigorously hammered
in the last hour and with very general sue
cuss.'
Total Sales of Stocks.
today we're $40, 723 shares, including: