St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-12-14
FINANCIAL.
New York.

NEW YORK, Dec. 13.-There was
slight increase in the dealings on the
stock exchange today, which was en-
tirely due to purchases for the London
account, some $4,000 shares being pur-
chased by the arbItrage houses, incIud-
ing st. Paul, Erie, Louisville 81 Nash
Vile, Union Pacific, Kansas 81 Texas
preferred and Denver 81 Rio Grande
preferred. A very active buying move
ment was developed in General Electric,
which was accompanied by rumors of
the formation OF pool to acquire the
shares in view of anticipated develop
ments which, it is said. will affect the
stock favorably. What this unexpected
good fortune is to be has not yet been
given out, but the fact is that large
blocks of the stocks were taken at adj
vancing quotations. the last price being
the highest of the day, and showing an
advance of per cent on the final sales
of yesterday. Sugar was freely
sold during the early dealings
and broke to 1890 ex-dividend of 8 per
cent, a decline of ~ per cent. The
moving influence was, of course, the tariff
{ which, it is claimed, gives the German
refnerS an undue advantage over the
American Sugar Refining company.
There is, however, a well-defined opifl-
ion III speculative circles that the stock
of the company is being manipulated by
insiders with the view of using its de-
probation as an argument that the pro-
posed tariff schedule will work national
injury to the home sugar industry. In
the late dealings the pressure to sell
the shares was less pronounced, and.
under purchases to cover short con-
tracts, recovery of II per cent took
place, limiting the net loss on the day to
% per cent. Chicago Gas was largely
dealt in, and after an early
decline OF e, rose 15s per cent
on the filling of orders to
buy,a majority of which came from the
West. Most CT the business was done
in the earlier hours of the day, but the
stock was well supported during the
afternoon, and closed within Il of the
top figures. The buying in st. Paul
was mainly for London, and it is said
large number of shares will go to Lon
don by Saturdays steamer. The fiuct-
uationS were confined within u per
cent, and the advance was only Il per
cent. Western Union suffered early In
the day from reports of decreasing
earnings OF the current quarter, and
when the statement for the quarter
ending with September was published,
showing a decrease of nearly $3.50. 900
for that period, there was still further
reaction, which the declaration of the
regular II per cent dividend did not
check. The decline from yesterday
at the lowest point touched was
l per cent In the late dealings the
fact that no mention was made of de-
creasing earnings for this quarter was
used to rally the shares % per cent.
Chicago, Burlington & Quincy rose "a
per cent on good buying during the
morning, it being reported that the
road was doing good business, but the
closing sales showed a reaction of X
per cent. The dealings in the rest Of
the list were on very small scale, aud
except in few cases the changes on the
days transactions were but slight. They
were, however, mainly IN the direction of
higher values, including an advance of
25s in Rubber preferred, 2 in American
Tobacco preferred and Chicago juno
ton and Stockyards, TX in Cotton Oil
preferred; N in Edison Electric, in