St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-12-04
FINANCIAL.
New York.

NEW YORK, Dec. 2.-There was a
very active speculation on the stock ex-
change today. but the dealings were I'M
settled. At the opening strong tone
prevailed, and the first quotations made
were at an advance Of 1S@M per cent.
In the early dealings the market was
firmly held, but realizing sales soon
caused a fractional reaction, which,
however, was quickly followed by an
advance of 49219, the latter in Mobile
IL Ohio; 214 in Sugar, 2 in do preferred,
2B in Oregon Improvement and Ten
nessee Coal and Iron, 2 i'll Cleveland,
Cincinnati, Chicago & st. Louis and Is
@& in the general list. The announce
ment of the passing of the dividend on
General Electric preferred brought on a
selling movement in the common stock
of the company, which dropped 2L per
cent, the general list sympathizing to
the extent of 7S@14 per cent, Rock
Island and Sugar leading.
Toward the close the speculation be-
came firmer, and prices took an upward
turn, the final dealings being effected
OF all improvement Of Sol per cent,
and the tone of the market at the close
being strong. The principal changes on
the day are an advance of 215 In Mobile
q Ohio, 21s in Oregon Improvement,
in Sugar preferred, 15s in Tennessee
Coal d Iron and Louisville, New AL
bany, 11s i'll Southern Pacific and c. G..
q. d st. Louis, and l per cent in St.
Paul q Omaha preferred and New York,
Chicago q st. Louis second preferred,
and decline of in Rubber preferred,
~ in General Electric. and per cent
in Great Northern preferred. New York
& Harlem sold at 24S against 25S the
previous sale. Compared with the final
sales of Saturday week ago, the
closing prices of today show about as
many stocks on the list of advances
as of declines. In the industrial
shares, which have made the widest fluc-
tuations, Lead preferred is ~, Lead
common 4, Sugar common 81, Sugar
preferred 3, American Tobacco s. Con-
solidated Gas 81. Disabling 35S, Cord
age common 258, Cordage preferred 215,
General Electric and Laclede Gas pre-
ferred and Edison Electric 215 per cent
down, and Chicago Gas AZ, Linseed Oil
213, and American Tobacco preferred
per cent higher.
LII the general list the changes are
confined within narrower limits, the
greatest improvement being in Oregon
Improvement 3$4, Mobile q Ohio 3,
Louisville 81 Nashville 235, Denver &
Rio Grande preferred 2115, and Balti-
more 81 Ohio and Erie preferred per
cent, and the heaviest decline in North
west 2554 and Michigan Central 2 per
cent.
An active and strong market pre-
vailed for railway and miscellaneous
bonds, Little Rock & Memphis tirSts
selling up 4, st. Joe q Grand Island
Island firstS. 81; Colorado Midland
fOurc opd Eortb Wortb
SKIES, 81; Rensselaer, 81 Saratoga cou-
pom tirsts, 2, and East Tennessee con-
soils fives, Mobile d Ohio tours. and
Union Pacific, Denver 81 Gulf frsts, l
per cent. Louisville q Nashville col
lateral trust tives declined ~ per cent.
There has been very active specula-
ton in bonds during the week, and
leading issues were in demand at adj
vancing prices. The high-class invest
ment securities we've not in supply
equal to the demand, and, hence pur-
chasers were diverted to less desirable
issues. Nearly all the bonds dealt in
advanced from l to ~ per cent, the
latter Denver q Rio Grande fiveS, there
being very few which show a loss on
the week.
The Evening Post says: Perhaps the
best description of today's bank state.
ment would be to state that it re fleets
the stock market operations of the
week. There has been liberal blying
OF securities, partly speculative in char
acter, as might be guessed from the
81, 1914 800 increase in loans. The sur
plus reserve, now raised to the monu-
mental sum of S76,000,000, means dull
ness in general trade and money mar
ket OF unpreceden ted cheapness, which
again forShadoWS great demand for
good investment securities.
TOday's stock market needs no ex-
tended comment. 1t was strong, even
though prices for many active stocks
yielded fractionally. That some of the
speculative leaders of the week would
sell today to secure their profits, and
that they would choose for the time
the MON ent of the bank statements
publication were toregone conclusions.
Next weeks hopefulness or despond-
ency may all the more easily be made to
order on the stock exchange. The week
has ended, very appropriately, with a
rapid recovery in sugar stock.
The Total Sales of Stocks
Today were 17S, 600 shares, including;
AtchiSon, 14,S00; American Sugar, A.
900; Burlington & Quincy, 4, 100; Chi
cago Gas. 10,5O0; G. G. G. & st. L.,
$500; Chesapeake d Ohio, 5000; Dis
tilling, 1920; General Electric, 500;
Kansas q Texas preferred, 8, 100; Louise
vile q Nashville. 3,400; Omaha. 2,4O0;
Reading, 7,400; st. Paul, 1O.4O0; Rock
Island, 2, 609; Union Pacific, 9,40O;
Western Union, 4,400.
stocks-CIosing.