St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-12-15
FINANCIAL.
New YorE,


NEW YORK, Dec. 1A-On the stock
exchange the speculation was almost
featureless, the railway list being very
much neglected. General Electric was
the magnet to which The chief business
was attracted. The stock has been
bought heavily during the past few
days on the announcement that impor-
Jant developments we're being made
which would, when made known, serve
10 appreciate the value OF the shares,
and quite a material advance was re-
corded on this unknown quantity. To-
day II was given out that this important
factor was the obtaining Of a profitable
contract OF 81, SOC, 600 and the possibility
OF securing a still larger contract, and
as is not infrequent in Wall street
when the expected thing occurs
the benefits are found to have
been discounted. so il was with
General Electric; as soon as the quota
ton pointer was given out the stock
began 10 decline and the bears helped
10 depTeciate the shares by vigorous
pounding, but withal the decline was
not very great, the stock being well
supported from the inside. closing at
loss OF only q per cent on the day. St.
Paul led the railroad list in point OF
activity. but Infatuated within u per
cent limit. losing I per cent On thee day.
The bears made SoH6 Intellectual attacks
on the stock, but were met with good
buying, and the other granger stocks
were hrmly held. AT the opening OF
business the general marketiWas firmer:
at the time q fairly steady tone pre-
vailed. During the interval there
were periods Of mid strength
and gentle depression. but the
transactions were small. Com
pared with yesterdays closing only
three railway stocks showed a change
OF per cent or over as result of the
days transactions, 10 wit: Iowa Central
preferred and Wheeling Il Lake Erie
preferred, which are : and - per cent,
respectively, and Long Island. which Is
Is per cent higher. In the industrials
the only important changes are de-
cline OF ~ per cent IN American To
bacco common and 2 in American Tc-
bacco preferred, and decline of SO per
cent IN CoTdage preferred, in Cordage
common. l per cent in Sugar preferred
and = in Chicago Gas.
The railway and miscellaneous bond
market was generally firm throughout
the day on good volume Of business.
The principal changes are:
a0fd4lCCS-I tDB46 JaS ana Coke
company, first consol skies, 4: Union
Elevated first, 8; Chesapeake & Ohio
registered lives, ~.
The Evening Post says: With two or
| three brief and unimpoTtant f1uctua-
tons, the market for securities dragged
| on Its languid course today. New
England STOCK yielded considerably, but
| this has been for years familiar speeta-
Gle during the two or three DAYS after
the New EngIand's books have closed
| Tor any significant meeting. What was
really OF much significance was the rel
aIlYe strength IN the granger stocks.
and IL Western Union. despite their re-
cent reports Of earnings.
The Total Sales of Stocks
today were $4,000 shares, including:
American Sugar, {, 400; Burlington q
| Quincy, 1900; Chicago Gas, I6, 100: Dis
tillers and CattlefeedeTs, {, POO: General
Electric. 1880: New York Il New Eng
land, 1880; Reading, 5000; St. Paul.
| 20,30O: Western Union, 4,300.
StOcks-CIosing.