St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-11-21
FINANCIAL.
New York.

NEW YORK, Nov. 20.-The volume of
business OH the stock exchange today
was light, and the speculation was un-
settled. Contrary to expectation, in
view of the Lehigh Valley strike, the
market opened strong. and advanced
slightly in the early dealings. There
was some buying for London account in
the arbitrage specialties, and covering
of short contracts made up the bulk of
the local buying. Before long the pur
chasing movement lost its force, and
the dealings became feverlsh and irreg-
ular. The industrials sagged off and
then advanced. the railway list being
fairly well held, except Reading, which
was sold down on the possibility of its
being affected by the strike. Before II
O'Clock the temper of speculation be-
came firm again, and an advance of
B@14 per cent was recorded, the
latter in Sugar, but shortly
after that hour drive was made on
Distillirg, and!selling orders, which came
from the West, accompanied by rumorS
of meditated tariff changes less favor
able than had been anticipated, the
stock gave way to the extent of ~ per
cent, and the rest of the general list fell
and Sugar being most prominent in the
decline. A very slight rally followed,
but during the first part of the after
noon the market again became heavy,
and still lower prices were made. The
depression continued to the close, being
broken enthusiastically by slight raj
lies i'll the late dealings, when the lowest
prices of the day were current. the de-
cline from the closing sales of Saturday
ranging from 4 to g per cent, the latter
in COrdage common. which was sold on
reports that the reorganization commit
tee statement will be uEfavorable to
tie interests of the common stock
sold at 81. an advance of
4 per cent compared with the last pre-
vious sale, which was effected last
Wednesday. American Cotton Oil pre-
ferred lost per cent. Lehigh u Wilkes
barre. 3; Distilling, ~, and st. Paul Il
Duluth, l per cent, the other losses
being fractional. Some few shares
made gains OH the days transactions,
including American Tobacco, 81; Pitts
burg, Fort Wayne IL Chicago, 2; Deia-
ware d Lackawanna, and Pittsburg u
Western ~ per cent.
The railway and miscellaneous bond
market was irregular during the greater
portion of the day, but closed strong,
with a decided upward tendency in
prices. The issues which made the
greatest advances are Tennessee Coal
and Iron skies, Tennessee division fves,
Seattle. Lake Shore IL Eastern firsts,
and Chicago d Milwaukee firsts, 4 Du-
luth. South Shore Il Atlantic fives.
~; Northwest sinking fund SKIES,
Little Rock Il Memphis firsts, and st.
Paul, Minneapolis & Manitoba firsts,
Montana extension fves, 2.
Declines were recorded of AZ per
cent i'll Virginia Midland, General Mort
cages, which sold at 70, against III on
Nov. 8, of 2 4 in Baltimore & Ohio IS
consolS, 2 in Northern Pacific.
The plan for the issue OF gold certifi-
Gates by the clearing house association
will be put into operation next week
when the certificates will be received
from the engraverS.
The directors of the Chicago & North
western Railway company meet tomor-
row to take action on the semi-annual
dividend on the common stock and
on other matters of Importance.
The Post says: Most people looked
today for break in prices on the news
of the Lehigh Valley strike. This ex-
pectation was more natural in that
present financial relations between the
railroads generally and the workers in
their pay rolls are at a point of great
mutual irritation. Yet the stock mar
ket opened calmly and at once pro-
ceeded to advance. The price of Lee
high Valley stock. which is not dealt IN
on the New York exchange, fell sew
eral points. Outside of this there was
no sign that the labor revolt had any
influence whatever on the market
Reading declined, for reasons uncon-
nected with the strike against its old
ally, and, indeed. even Reading stock
was rallying again before the day was
over. Other stocks with scarcely an
exception advanced fraction in the
opening hour, and yielded only when
returning dizziness led to moderate
realization SaIeS.'
The Total Sales of Stocks
today were 100000 shares. including:
Atchison. 1900; American Sugar, 80
400; Burlington q Quincy, IL, 700: Chi
cago Gas. $500; Distillers and Cattle
Feeding, 14,400; General Electric, $500:
National Cordage, 6,l00; Reading. 49,
200; st. Paul. 27,20O; Western Union,
$500.
Stocks-Closing.