St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-02-03
FENANCGAL.
New York.

New XOPlx.
NEW YORK. Feb. 1.-The stock mar
ket showed an inclination to narrowneSs
today. There was large business done,
which in the main was well distributed,
though Reading and DiStillers' between
them monopolIZed over half of the total
transactions. There was some strength
in the forenoon and advances extended
to 81 per cent in DistillerS', but the GER
tainty that considerable gold would 20
away Saturday again checked the bulliSh
sentiment 1t was announced that 81.
100000 would go out positively, and esti-
mates were made that double this
amount would be reached. The gold is
intended for France, and the Bank Of
France is again Offering interest on the
metal in transit. These facts, notWith-
standing the lower rates Tor exchange,
added to The feeling of uncertainty, and
many operators closed up their interest
IN the market.
The trading in the induStrlals today
was not Oh the usually large scale, put
DiStllers' was strong on the rumor that
the liquidation is completed, and that a
new pool intends to put the stock much
higher. The stock opened at 40 this
morning, against 3SB last night, and
rose to A., and, after some Irregular
fluctuations, closed with a net gain OF
2%5 per cent at AZ. The only other
feature among this class of securities
was Cordage, and the new stock was
traded in for the first time today, selling
closely on parity with the old stock
during the forenoon, but Sagging away
somewhat later. The old stock closed
u higher at 1.4215, the new stock closed
IFS OnnnlnU nTIpp-1lL.
The declaration that the management
did not intend TO begin dividends upon
Omaha at the expiration of the next
SIX months induced continuation Of
rcaIiZatiGnS in that stock, and almost a
steady decline throughout the day re-
suited in net loss of 2$s per cent after
rally OF p from the lowest figures.
Reading was again very active, and the
announcement Of the text of the bill
introduced i'll Albany against the coal
combination brought out Il large amount
of long stock. The stock showed con-
siderable strength in the early dealings,
rising to 1923 against 4915 last even
ing, and on the decline retired
to 1871, but there was good buying
in the last hour and 1t brought it up to
1929, showing a loss of only 4 per cent,
i'll explanation Of which it may be said
that the story came from Philadelphia
that the Reading and Boston IL Maine
people bad secured control OF the Old
Colony. The only other marked feature
was the continued advance i'll Richmond
Terminal on good inside buying, the
stock reaching II and closing at its high
est point.
The general market was quiet, within
narrow limits as rule, and prices never
fa from thnCa of thn nnnDInD
cept among the coalers, Delaware ~
Hudson closing with loss of II per
cent. The whole list sympathiZed with
the late decline among the leaders, but
the close was fairly steady, after the
rally.
The Post says: There was more
settled and satisfactory feeling, owing
10 the less erratic course of Distillers'
certificates, which opened at an adj
vance and showed by their subsequent
strength an unusual tirmness of tone.
This better feeling in DistillerS' GER
tificateS, which have for the last few
days demOralized the general list, eX-
tended to the other induStrialS, and sew
eral of them moved UP in response to
buying orders of some magnitude. The
railroad list was firm, but not so prom
inent or SO strong as yesterday. 1t was
noticeable that blocks Of stock thrown
on the market were quietly absorbed,
with no break in prices. The actual
withdrawal of a small amount of gold
TOT shipment and the expressed belief
Of a mouse that has been prominent in
the export movement of gold that a
shipment of considerable magnitude
would doubtless be made dampened the
enthusiasm of the traders and brought
on an era of apathy and positive dull
ness"