St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-09-20
FINANCIAL.
New York.

NEW YORK. Sept. 19.-The course of
the speculation on the stock exchange
was III the nature of surprise even to
the very persons who themselves ma
nipnlated the stock market. Despite the
weakness of American securities in
LONDON, the prices made here at the
opening were generally higher, and a
fairly firm tone prevailed. But the
bears quickly rallied to the front, and
started selling movement in Chicago
Gas, Sugar and st. Paul which drove
these securities down S,15s and q per
cent respectively. These three stocks
monopollzed, the dealings, Western
Union and Atchison, which fell
off q per cent, being the
only others which could Law
any claim to activity. The depression
i'll the shares mentioned was quickly
communicated to the entire market, and
upon an unusually small volume of bus
lneSS the whole list fell off traction.
The reaction seemed to attract Some
fresh buying, and the market became
quite responsive, even though the pur-
cnaSeS were not large. The declines of
the early morning We're quickly recuv-
cred. and shortly after noon most of the
leading stocks had touched figures
above The highest. and were still NOV
ing upward. During the afternoon,
except III Chicago Gas and Sugar, with
st. Paul and Western Union trailing
far behind, the trading was infinitely
small. but the tone of the market was
strong, and every stock that was in anv
KIND OF demand moved upward on the
most trlffing purchases, the market
retaining its strength to the close.
Inc 1nal sales were generally at or
within fraction of the highest prices
or,the day, and the tone of tile dealings
was decidedly strong. Sugar, which
led III the transactions. was freely sold
in, the morning, the bears using the
sugar tariff agitation 70 hammer it
down. AT the lower quotations num-
Der OF buying orders were encountered.
anu tile shorts rushed TO cover, with the
ftsultof sending the stock uD 81 per
cent from the slump of the morning.
and 1t closed within g of the best price.
chicago Gas, which came next in point
OF activity, suffered lso at the hands of
the bears in the morning, but WAS re-
markably well held and resisted the de-
pressing tactics, recedng only % Der
cent, anu Using on the flood tide uf The
afternoon 3Ss per ceut, holding the adj
vance 10 the close. st. Paul was sold for
the London account and lost fraction.
but the fluctuations did not exceed
fraction all day. louisville d Nash
vile declined in sympathy with the
weakness or the stocks in London, but
rallied with the rest OF the luarket, ana
at the close was e per cent above las;
nights figures. The chief advance
OH the days business not already
noted are Tobacco, ~; Pittsburg.
Fort Wayne d Chicago. 3; Burllny-
ton 81 Quincy and Hooking Valley, Ia;
Des MOlnes u Fert Dodge. Evansville
d Terre Haute and Manhattan Console
dated l a. and Rock Island III. Cleve-
land ~ PIttsburg sold at I45, which is 10
per cent higher than the previous re.
ported sale. Among the stocks which
SHOW decline, as compared with yes
terday's closing, are: Rubber. 2: Luuis-
vile, New Albany * Chicago, /; Sugar
preferred, Is, and Lake Erie 81 West
ern, q per cent. The railroad bonds
were dull and unsettled, some issues
advancing and others declining; Green
Bay d. Wln0na incomes declined 4:
Edison Electric iirsts, 2; and Louisville,
New Albany IL Chicago cOHS0ls, 90 per
cent. Oregon Railway skies and Colo
RADIO Coal and Iron skies rose 8: St.
Louis IL San Francisco, Glass G, i, and
Northwest currency sevens per cent.
Stocks Closing