St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-04-06
FINANCIAL.
New York,

NFw YORK April 5.-The stock market was
Irregular in the early trading, chiefly III con-
sequence of sharp movement in American
Sugar Refining. which carried that stock
down l34 10 1913. The other industrials
were unfavorably affected and yielded u TO l
per cent. While these movements were in
progress, however Reading rose lis to 2i5S
on the resignation Of \. A. Mcleod from the
company and statements made in usually
we'll informed quarters that bankers VINO
have been most hostile towards Mr.. Mcleod
would now come forward and advance
the money needed by the company to relieve
ii from pressing financial Obligations. The
stock subsequently reacted to 233s, but still
later reached 25c. New England sold off at
first from 81 10 Big owing to the feeling of
uncertainty occasiOued by the new turn Of
affairs in Reading, but at the decline there
were LIBERAL buying orders, and rise to 81
occurred. 1t is asserted in some quarters
that capitalists identified with the New YORK,
New Haven d Hartford have already ac-
quired Il large interest III the property with
the view OF obtaining control. The gen
eral market, after spell of hestancy,
DEVELOPED unusual strength. The traders
fou hi the rise from start to finish. but the
more they hammered the market the more
aggressive did the bulls become. until finally
there was a sort of scramble 10 cover. The
advance was stimulated by the receipt of lib
eral orders by the commission houses fer
both local and out of town accounts. In the
cases of Lake Shore. Canadian Southern,
Michigan Central, New York Central and
Northwest there were indications of pur-
chases for the Nauderbilts, while in Missouri
Pacific and Western Union brokers claimed
to trace the orders direct TO the Gould party.
The dealings were well distributed, and
attended with much animation. At inter
walls speculation was positively buoyant,
more particularly in the late afternoon trad
ing. The revival Depreciation in the rail
way list impaired no little confidence to
operators, who attached great Importance TO
the near approach of the opening of the
world fair, and the increase III earnings TO
result theretrOm. AS compared With
the lowest figures of the morning
American Sugar rose 2ls to. lO7; Ateh-
| ison, ia 10 1858; Cotton Oil. ia to
4gs4; Canada SOuIhern, l5s to 81; Big
Four. pa to 53l2; Burlington u Quincy, 2l4 to
9S; Chicago Gas, liz to 9-S4; Northwest, 2ls
| to l74s4 ST. Paul, Ia 20 RS Rock Island
15s to 50; Lackawnuna, to l46l2; Delaware
| Hudson, la TO 1924: General Electric, lSi
to 1U1l4; Lake Erie & Western preferred: 2l4
| to 50; Lake Shore, 25s TO l3lL2; Louisville d
| Nashville, Us 10 &c; Manhattan. 3l4 To 1852 ;
Michigan Central, IL to 10?l2; Missouri Pacific,
lS4 10 52I2; Cordage a 10 IL Is Lead. IS o44;
| New York Central, 10 lOS; Nickel Plate sec
! oud preferred pa to Il: Omaha l34 to 5514 /:
Union Paciic, / Il to 1855 and Western Union
I II, TO 957s. Mobile y Ohio, after selling
! down ga to "a, rose to 2Sl2. The early break
| was due to the decision just rendered against
! the stockholders by Judge Coleman, of the
!
| closed strong at or near the top figures
The Post says: ''Since the daily reports of
| treasury balances are always two days late
! this mornings statement reflects the with
| drawal of 81, 800, 00U export gold on Monday
! This gold, it will be remembered, was all
taken from the subtreasury IN exchange for
! silver notes and legal tender notes. 1t might,
| therefore. have been expected that the gov
| ernment gold balance wculd today show a
| heavy decrease and its treasury notes and
! United States notes an Unequal increase, bat
| nothing OF the kindsis reported. The gold
balance stands practically unchanged from
| Yesterdays, which infers that the treasury
| department must have arranged, prior 10 the
gold withdrawal, for an equal exchange of
| treasury money for bank specie. Ii this
proves to have been the fact il is in some
way encouraging, particularly in view of
possible further and heavy gold shipments
| within the coming week. OF course, the
| London financial critics suggest these opera
| tons are merely transferring the strain from
the federal treasury TO the open market, bat
| it is IN every way proper and advantageous
that this should be the case
Co