St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-11-22
FINANCIAL
New York.

FINANCIAL
New York.
NEW YORK, Nov. 2l.-Wall street
has not experienced a day in many
weeks In which the speculation on the
stock exchange combined strength with
activity in such a marked degree as it
did today. 1t was practically a bull
market from the opening to the close of
business, for, though there were occa-
slonal reactions, there was 10 depres-
sion and each halt in the upward move
ment seemed only to give new buoy
ancy to the dealings, and served to at
tract new purchasers and while Sugar
was the stock most largely dealt in, tine
buying was well-distributed throughout
the general list. others of the leading
lndustrials. the grangers, Western
Union and Reading also coming in for
large share of attention. The buying
III Sugar is said to have been largely
Tor the account of recent bear who
not only desired to cover, but
also to accumulate line of long
stock. 1t is said that private adj
vices from Washington are to the
effect that the changes in the tariff will
not be to any extent unfavOrable to the
sugar-refining interests. The course Of
the stock was practically upward all
day, opening at 9211a and closing at 96$4,
an advance of AZ per cent, the last
being the best price of the day. The
reactions during its great climb never
exceeded % per cent,and were generally
confined to the smaller fractions. The
preferred shares rose per cent on sales
OF less than 500 shares. The other in
dustrlalS shared more or less in the
upward movement except Cordage pre-
ferred. which fell off 211a per cent, while
the common stock rose pa per cent, re-
yerslng yesterdays conditions. when
the common declined and the preferred
rose. Chicago Gas advanced tx; Cot
ton Oil, IL; Lead preferred, 136; Lead
common, q; Tobacco, L; Distiling, %,
and General Electric % per cent. Dis
tllllng was sustained during the after
noon by the announcement that
the president was opposed to
an income tax, which was re-
garded as being favorable to an
increase i'll the spirit tax as counter
proposition. Western Union was bought
freely on reports that government con-
troll of the telegraph system was very
remote possibility of the distant future.
The gain on the day in the shares is %
per cent. The grangels were in good
demand. and their prospects were not
injured by the declaration of the regu-
lar dividends in Northwest common and
preferred and st. Paul & Omaha pre-
ferred. The closing figures were the
highest touched, and showed advances
of ~ in Chicago, Burlington q Quincy
and Rock Island, l 4 in Northwest and
st. Paul, q in st. Paul & Omaha. Of
the coal stocks, New Jersey Central was
the only weak spot, it being feared
that its relations with the Lehigh
Valley might involve it in the labor
troubles from which that road is suffer-
ing. LackaWanna is up 2; Delaware &
Hudson u, Susquehanna d Western
~. In the general list the shares which
appreciated in value most largely are
Michigan Central %, Lake Shore and
New England 156, Manhattan ~, Louis
vile & Nashville and Erie common,
Is; Erie preferred, 2$l; Pacific Mail
and Missouri Pacific l per cent. In eX-
ception to the general buoyancy were
Iowa Central preferred and Norfolk
d Western preferred, which declined
ti9 and 7per-cent respectively. At the
close the market was decidedly stronger
with an upward tendency TO prices,
which were at or near the best figures
of the day. The railway and miscel-
laneous market was more active than
usual and sympathized largely with the
strength of the share speculation. The
principal changes for the day are: Adj
vanced = Fort Worth q Denver City
6s, 81; Northwest gold rs, registered.
3; Louisville 81 New Albany 6s. 215;
Harlem lists coupons. ~; Albany u
SuSquehanna cOnsolS rs, Kansas Pacific
consols and Pacific of Missouri first As,
2; Erie Eds, ~; Big Sandy lists, Den
IS, Louisville q Nashville IS, Oregon
Improvement 5s, and st. Paul, Dakota
IL Great Southern 5s, ~; Reading I'd
preferred incomes 1355, and Chesapeake
q Ohio 419s, rs per cent.
DeclineS-PeOria, Decatur & Evans
vile lists, Evansville division. and Chi
cago q Indiana coal IS, 5; St. Louis &
San Francisco, class A, 211a; Tennessee
Coal and Iron. Tennessee division lists,
and Colorado Coal and Iron 6s, 2; Rich
mond Terminal trust IS, II; Michigan
Central consols Is. which sold at 120
seller.
NEW YORK. Nou. 1.-The Post says:
There has been prevalent notion that,
owing to incidental huctuation, the
course of the recent stock market has
been strongly downward. So fas as
concerns the general list, this is not
true. The markets tendency since the
currency legislation passed to break
up into independent groups has been
noticed before. A small number thus
affected have fallen about six points
since the opening of November: but if
these stocks be excluded from the reck-
oning, and with them one or two others
such as Louisville and New England
which were depressed by special in
iuences. most people wonId be aston
ished to discover how close are present
prices to the opening quotations of the
month.
Today's market merely served to
demonstrate the force of these various
considerations. A movement, rather
rather more spirited than usual. to bid
up the prices started score of recent
sellers to buying back their stocks, and
the movement once started continued
| for time of its own momentum.
The Total Sales OF Stocks
today were 35s, 100 shares. including:
American Sugar, $4,000; Burlington d
Quincy, 10. 500; Chicago Gas. 16, 700; Dis
tillers and Cattle Feeders, 7,7O0; Gener-
al Electric, 2,400: New York d New
England, $500; Northwestern, 1000;
Reading, 1O,40O; Rock Island. 3.7OO;
st. Paul, $1,000: Western Union, 12.S0O.
stocks-CiosIng.
Atchison... -. 1884 Northern Pacific. 648
Adams Express. l45 do pfd. ...... 22A
A. & T. II. pfd. ...15O Northwestern. los
American Ex. .115 Northwest 1912
Balt. & Ohio -. 20 N. Y. Central -. 1922
Canad n Pacific. 70 N. Y. & N. Eng 2S7s
Can. Southern. 81 Ontario d West. 17ss
Central Pacific. 1919 Oregon Imp 49,. IL
Ches. d Ohio -. 1873 Oregon Nav. 26
Chicago Alton. 135 O. 5. l.. & .. N.