St. Paul daily globe., 1892-03-12
FINANCIAL.
New York.

New YORK March 1.-THE st. Paul matter
in the stock market gave away to the renewal
of the excitement in Coal stocks. and while
the general list was still very quiet, even TO
dullnesS. the amount of business done during
the day, by reason of the new activity i'll the
Coal shares, was very material. The interest
i'll the ST. Paul dividend seemed to have been
well exhausted by the time the board opened
this morning while st. Paul opened down
7s per cent at II, but it rallied par
TALLY and steadily dwlndlIng. the volume OF
business at practically unchanged prices.
The passage of the bill in the New Jersey
legislature 10 legalize the compact between
the coal companies. however, became the
cause of new movement among
those stocks. and ther old activity was re-
newed and their prices mounted quite III the
old styles
he only other feature of note in the mar
ket, and which is not regarded with quite as
much favor by those who look for new up
ward movement based OH real values. was
the renewed animation in the lndustrlals
which were both prominent i'll the. dealings
and almost as strong as the coal
ers. Sugar aYd Distillers, however, mo-
nopolized this movement. while the
Cordage, Chicago gas: and the others were
kept quiet with the general railroad list.
Among the low priced shares only Buffalo,
Rochester and Pittsburg showed any signs OF
life and they soon subsidized in the face of the
more attractive metal mentioned. There was
some buying of Erie apparently for London
account and New England displayed some
activity and strength. but none OF the other
railroad stocks showed any animation
throughout the day.
The opening of the general market was at
lower figures and st. Paul was down 7s per
cent at H. but rallied quickly 5s and
afterward reached even better prices. The
rest of the market soon developed strength.
though it was not until toward noon that the
effects of the action OF New Jersey leglsla-
ture was seen and then there was scramble
for the coalers. Reading rose to 20. Lacka-
wanna to 163. Jersey Central to 1885 and
Delaware d Hudson TO 14l7s. There were,
rumors later of negotiations between the
Sugar Trust and outside refineries, and these
created q demand for that stock. which sent
the common up to 934 and the preferred up
to 977s, while Distil ers kept pace for some
time with the upward movement.
The excitement died out of the coalers
toward D. m.. and realizing oil the advance
sagged prices off little for some time, but
favorable developments in Richmond d
West Point made the securities OF tnat road
the feature in the last few minutes trading;
and, while the market was stiffened up again,
the close was active and firm to strong at or
near the best prices of the day. The final
changes are in almost all cases advances,
and the important ones comprise: Heading,
4; Delaware & hudson, 25s; Sugar, 2l2;
Lackawanna, 2l8; Dislillers, 1as; Lake
Shore, 15s.
The Post SAYS The furious bidding in the
coal stocks encouraged few sympathetic
advances i'll Lake Shore and New England
among others, while distiling trust, at re-:
spectful distance, followed sugar certificates.
But the transactions, even in these, were in
significant. and the majority of stoc ks on the;
market barely stirred. The sharp advance in
Richmond Terminal preferred was made, it
will be observed, Oh purchases of the most
insignificant volume. Quite naturally, the
supineness of the general list provoked
realizing in the acrobatic stocks of today,
and there were several reactions in the last
hour. But the trading ended as it began.
purely professional.
Total Sales of Stocks
today were 531, ,343 shares, including: