St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-10-13
FINANCIAL.
New York.

NEW YORK, Oct. 12.-While 1t Is pos
sibly entirely true that all speculative
eyes are turned upon Washington, and
that the dealings on the stock exchange
are largely the reflection of the hopes
and fears of the traders on the silver
question, there was little i'll the sltua-
ton of affairs at the capitol today to ac-
count for the buoyant tone of the mar
ket here, which today was a law unto
itself. The governing Influences were
special in their nature, but the effect
was pretty general, and nearly all of
the shares traded in, shared to some eX-
tent in the improvement engineered by
the operators i'll the lndustrials, which
led the market both in strength and
activity. The railway list was sadly
neglected in the morning and really
played second fiddle all day, while
Whisky, Sugar, Chicago Gas, Cordage
and General Electric kept 10 the front,
just One-half of the total sales being of
industrial stocks. The operations in
these fancies were said to be for the &C
count, very largely, OF insiders ill the
respective companies, Whisky being
bought on renewed reports OF improved
prospects of the company, Sugar on
reports of Washington based on favor
nOuncements that long delayed receiv-
ers' report was about to be issued, and
that all the difficulties which the reor-
ganiZatiOn committee had met with
had been overcome, and lead on
a report that even though dividend
might not be declared the company had
earned the money to pay it. The
grangers, which were trifie weak at
the opening on crop report. were lifted
out of the depression by the bull move
ment in the industrialS, which helped
almost everything on the list except
Union Pacific in the early trading. The
upward movement continued in force
with occasional slight reactions, due to
realization of profits, until about the
middle Of the afternoon, when, owing
to lack of the sustaining Influences of
new purchases rather than to any pro-
nOunced selling, there was fractional
decline. In the late dealings there was
rise on light volume of business and
strong undertone was prevalent at the
close, with prices Il to 1$5 per cent
higher for the active list, the latter
whisky II in Missouri Pacific, Is in
Pacific n. all and Lake Shore, l in
Louisville & Nashville, Sugar and New
York Central. Some of the inactive
shares made material advances, notably
Louisville, Evansville & st. Louis Z,
Colorado Coal and Iron and Colorado
Fuel and Iron 2, Minneapolis & st.
Louis preferred and Rubber IL,
Edison Electric and Louisville, New
Albany trust receipts II, and Missouri,
Kansas & Texas preferred l per cent.
Phoenix Mining sold up at the opening
10 81, as against so, the last previous
sale, reacted to 81 and declined to 4S.
st. Paul and Duluth shows decline of
% per cent.
The railway and miscellaneous bond
market was irregular Oh fairly active
trading. Changes compared with the
last previous transaction are: Declines,
Oregon Short Line skies, 5; st. Louis u
San Francisco general SKIES, 4; Chicago,
st. Louis q Pittsburg firsts, Colorado
Coal and Iron skies, Louisville, New
Albany firstS. and Oregon Short Line
collateral trust five. 2 per cent.
The Post says: "There is not often
less of real signigcauce in a rapidly
moving market than there was in to-
days. It's story rs easily told. Nobody
of consequence was bold enough to buy
or sell. Consequently the cheaper spec
ulatOIS bought, proposing to sell later.
The significance of the senate's vote on
the PETER amendment was made much
of, and for time some of the room ira
ders assumed that it had settled every
thing. But whenever the manipulators
paused in their personal maneuvers
business ceased on the market almost
completely. At the highest forenoon
prices there was some selling, and a
fractional yielding in quotations. This
may have come from prudent outside
holders, or from the spectators them
selves ;spOsSibly from both quarters; eX-
cept for Union Pacific. the advance was
general throughout the list, but heavy
only in the granger and industrial
stocks. Long before the close of bus-
ness the market had fallen into stagna-
ton.
Total Sales of Stocks