St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-10-24
FINANCIAL.
New York.

New YORK, Oct. 23.-It was like
what the street remniScently alludeS to
as 1.-The good old times" on the stock
exchange today. The dealings were on
a large scale, nearly everybody was on
the bull side of the market, and there
was an all-pervading air of buoyancy
which carried everything before it. at
the opening of business dlScouraging
advlces regarding the prospects of I'M
conditional repeal scaled the initial
sales down 149l4 per cent and the in
dieations were decidedly depressing,
but the temper of speculation was
changed with magical rapidity by
zone of those special movements
which mark the history of Wall
street, and which are seldom based on
anything more solid than rumor. The
moving influence in tOday's market was
newspaper article announcing that
the New Jersey Central party, led by
President Maxwell and his friends, had
obtained controlling interest in Della
ware, Lackawanna 81 Western. and
would hereafter direct the policy of
That corporation. Subsequently trans
fer of 10000 shares of Lackawanna to
William K. Vanderbilt led to the belief
that there was trunk line combina-
ton in the coal deal, and despite the
remarkable lack of knowledge displayed
by the presidents of the two roads
named, the impression gained ground
that the long-anticipated project of
consolidation of the coal roads had
taken shape. Reports were current
that the Reading and Delaware
IL Hudson companies were in
vOlved in the deal to the ex-
tent of being committed to adopt
the policy to be outlined by the New
Jersey Central party, and that all the
coal roads would act In harmony with
the trunk lines. AS natural result
the shares of the anthracite roads were
i'll brisk demand, and the upward move
ment therein carried forward the en-
tire market. The fate of the silver bill
was not considered as factor of the
situation, ii thought of at all, and every
stock traded in responded to a greater
or less extent to the call for an advance.
The coalerS, of course, led the market,
the appreciation in values at the high
est point of the day being, compared
with the closing sales of Saturday-11%
in Lackawanna. 9 in New jersey Cen
trail, ) in Delaware IL Hudson, 3S9 in
Reading, 2 in Susquehanna Il Western
and 81 IN do preferred. Lake
Shore also showed largely in
the Improvement, selling up 5
per cent. There were some slight real
izations at the advance, and at one time
a small raid was made OH the market
under cover Of rumor to the effect
that the price of wheat had broken. The
decline due to these causes ranged to
AZ per cent, the coalers being the chief
sufferers, but the market speedily re-
covered and the upward movement was
resumed, the final dealings being char
acteriZed by strength and activity, and
the market closed with buoyant tone
and a decidedly upward tendency.
Reading. which did not participate in
the advance to any great extent until
afternoon, closed at the highest figure
touched, but the other cOalerS showed
reactions of II to 21a per cent.
The industrials, with the exception of
Sugar and Edison Electric, did not share
to any appreciable extent in the rise,
and Distilling and Cudahy actually re-
ceded a fraction. Compared with Sat
urday'S closing figures the chief adj
yanceS were: Lackawanna, 9; New
Jersey Central, ~; Delaware IL Hud-
son. SO: Reading. 335: Susquehanna
81 Western. 2; do preferred, 5; Edison
Electric. As: Lake Shore, so; Wheel
ing II Lake Erie preferred, 315; New
York. Chicago 81 st. Louis, 215; do first
preferred 3, do second preferred 2$4,
Pullman 8, Sugar rs, Sugar preferred,
Consolidated Gas and st. Paul 81 Omaha
preferred 2; Colorado Fuel, Illinois Cen
trail and Iowa Central preferred ~;
New York u New England and West
ern Union / "a; Rock Island, Lake Erie
IL Western and Cotton Oil preferred u;
g., g., &. q st. Louis Is and Chicago,
Burlington 81 Quincy, Missouri Pacific,
Rubber. Buffalo, Rochester u Pittsburg
and Green Bay second subscription
paid l per cent. The railway
and miscellaneous bond market
sympathiZed largely In the
strength of the share speculation and
the issues dealt in advanced with but
two exceptions, the most notable being
Peoria. Decatur & Evansville seconds
and New England sevens, which de-
clined and Az per cent respectively.
In the advancing column are: Oregon
Short line SKIES. ~; Louisville & Nash
vile collateral trust tives, 4; Reading
tours, ~; do first preferred incomes
So; do second incomes, 81; do third
incomes, 81; st. Paul and Northern Pa
cific firsts, "a; Colorado Midland fourS
and West Shore coupon fours. 2.
Total Sales OF Stocks
today were 725,2OO shares, including:
Atchison. $500; American Sugar, rs
100; Burlington & Quincy, 21,1O0; Chi
cago Gas, 2O,3O0; Delaware, Lacka-
wanna & Western, $500; Delaware &
Hudson, 2O.27O; Distillers and Cattle
Feeding, 1900; General Electric. 5000;
Lake Shore, $500; Missouri Pacific,
1900; New York 81 New England. 10, 700;
New Jersey Central, $500: Northwest
ern, 800; Northern Pacific, $500; On
tario d Western, $500; Reading. $500;
Rock Island, S.400; st. Paul, 5000; West
ern Union, 1880.
Stock
Atchison -. 1yBiNorthern Pacific IA