St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-04-14
EENANCTAE..
Now Work.

NEW YORK. April I3.-The speculative tenn
| per of the stock exchange underwent Il
marked change today. The bears were III
| the ascendant and succeeded In bringing
! about a general decline on the feeling of un
| certainty created by the continued gold ship
ments TO Europe. II was currently reported
| that 81 011 OUj gold would so forward by sat
urday's steamers, and that anywhere from
| So 0J0,C coo 10 S5.C00.0J0 would be shipped next
week. This would bring the treasury gold
reserve below the SlUo, OO5.OOJ mark, Ill which
event the bears claim with confidence that
they would succeed in bringing about serl-
Gus disturbance i'll values. On the other hand lie
is said that leading bankers and others who
presumably understand the financial Sltua'
ton. take ANYTHING but gloomy view Of the
outlook and the fact that DreXei, Morgan d
co. have undertaken the work of reOrganiZ-
ing the Richmond Terminal is accepted as
PROOF positive that that firm takes hopeful
view OF the money market. II was stated at
one time this afternoon that LaZard Freres
had taken Sl,001UVO gold. and Heldelbach,
Ickelheiner Il Co. i similar amount for ship
ment on Saturday. The latter firm will not
snip any gold on that day, unless they re-
ceiYe permptOry orders from their foreign
correspondents tomorrow. The signing OF
the maximum freight rate bill by GOV.
CrOuuse. Of Nebraska, was another argument
used in favor of lower prices.
During the afternoon the pressure TO sell
became quite pronounced, and the dealings
were attended with considerable excitement.
17CI2 OH the granting of new privileges to the
company by the rapid transit commission,
broke TO ld4l2. The remainder of the list
yielded IL 20 rs. Missouri Pacific was sold
down from 53 to 1913: Sugar from l03s4 10
1UlA; Distilling and Cattle Feeding from 2S
to 2o1I; Lead from Ala TO 3J3S: Cotton OIL
from IS to 10; Burlington < Quincy from
I qGI2 TO 94sS; Chicago Gas from 90
to SSl2; Rock Island from S4l2 TO
S254; Lake Shore from 152L to 40;
New England from 535s TO 3is4, and North
ern Pacific preferred from 42S4 to 45s4; Ma
Iioual Starch broke GIG to 2ll2 and rallied 10
-. Disulllng and Cattle Feeding was weak
on the unfaYorable character Of the annual
report rendered TO the meeting in PhladeL-
phia yesterday. Northern Pacific preferred
was sold on the official statement earnings
for March, showing a decrease Of 4.3+6 as
compared with 1872. There is no doubt that
the bulk Of the selling was for the short ac-
count. Richmond Terminal advanced on
the knowledge that DreXei, Morgan d Co.
had concluded to 80 on with the reorganiza-
ion. The market closed heavy in tone.
The Post says: I'm view of the measures
adopted by the gold exporting bankers for a
speedy filling of the Austrian contracts, the
condition Of the treasury once more demands
attention. The government has practically
ceased TO receive gold IN exchange tor cur
reucy. and Tuesdays exports have now re-
duced the gold balance by very nearly the
full amount of the shipments There is now
I in the treasury less than S3UOGOOO over the
Sljn,U0O, coo reserve, and, II present lndlca-
tons are trustworthy. the shipments by the
next few steamers viii exhaust even this.
There would, OF course, be no occasion Tor
alarm, even if the $780, 900 reserve were to
be invaded, but The importance o. the change
lies in its bearing on the question OF bond
issue. That London bankers have been IRE
pairing for such loan cannot be doubted;
and, if the bonds are to be issued al all. the
| proper occasion would seem 10 be when the
gold reserve is trenched upon.