St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-31
FINANCIAL.
New York.

NEW YORK, Ang. 30.-The stock mar
ket today was in the main buoyant, with
material Increase in the volume of
business and general and sharp ad-
vance in prices. Further large pur-
chases for European account and con-
siderable demand from local operators
led to rise of 11a9315 per cent i'll the
active list and 2(99 per cent in the spe-
claltles. Among the latter American To-
bacco, Consolidated Gas, United States
Rubber, Pullman Palace Car, Manhat-
tan, Illinois Central, American Cotton
OIL preferred. Lead preferred, New Jer-
sey Central. United States Express and
Nickel Plate were the NEST prominent.
The dealings, taken altogether, were
letter distributed than for some time,
and characterized by much apparent
confidence in the future course of
prices. The recent action of the house
on the silver bill, still the dominant
factor in Wall street markets, it having
revived the investment demand for
securities and started up renewed activ-
ity among the professional operators.
An easier feeling in the money market
and the resumption of business by banks.
and firms which suspended a short
time ago on account of the severe Strin.
gency in money have afforded material
aid in the restoration of confidence
The improvement i'll stocks has nat
urally been stimulated by the substan-
tial recovery in bonds of all descrip-
tons. During the afternoon prices
reacted 199215 per cent. American Su-
gar leading, as 1t did the previous ad-
vance. When the bears found that
holders were disposed TO take profits
they hammered the list. and were as
sisted by exaggerated reports from Chi
cago as to alleged riots in that city.
Final transactions were at a fractional
recovery, and the market closed steady
in tone.
This was the liveliest day in the rail-
way bond department for some time.
The demand extended to both the in
veStment and speculative issues, and in
numerous instances the appreciation in
values was very pronounced. Advances
ranging from l to 10 points were re-
corded and, with the exception OF the
Northern Pacific, the market left off
strong at or near the top figures. The
transactions reached 2,0l7,0OO, an I'M
usually large total.
st. Louis & San Francisco consols As
rose 10 to 60; Union Pacific gold Is, So
to SO; Equitable Gas and Fuel of Chi
cagO lists, to 80; General Electric de-
bentures IS, 5 TO ~; Wisconsin Central
lists. 5 to 20; Colorado Midland IS, to
40; Fort Worth & Denver City lists, to
7l975; Iron Mountain Eds, to 9S; st.
Louis Southwestern eds. 31s to 1917;
Erie consol DDS. 81 to 751;
minal tiyes, 5 to 102; Edison llluminat-
ing first, to 100; Texas Pacific firsts, 8
tO64; Mobile Il Ohio fours, "a to 10;
Kansas Pacific cOnsOls. 81 to 90; Ore
g0n Short Line cOnSOl fiveS, % to 80:
Northern Pacific cOnsol fives, 10 34sI !;
Western New York and PENNSYLVANIA
seconds. % to 2014; Reading frsts, 2 to
30. Reading Seconds. 21s to 21A. st.
Paul e. & NJ. fiyes fell to Sc; San An
tome q Arkansas Pass tours. to So.
= Chicago IL Northern Pacific firsts rose
"a TO 461a and later reached to 49,.
Colorado Midland firsts, after falling
~ to IS, advanced and closed at 80.
Louisville 81 Nashville collateral trust
5S'brought 100 against 107 the last sale.
Virginia Midland generals brought "a, a
decline of from the last transaction.
Chicago & Erie incomes, which on Mon
day last sold at "a, rose to 80 bid.
New YORK. Aug. 30.-The Post saws !:
The condition of the city banks is i'm
proving slowly, indeed, but steadily.
Unless all signs fail, the statement of
next Saturday ought TO be genuinely
favorable. Actual money is now COM
ing in from outside banks, remittances
which chiefly represent the payments
of loans made on discount to these out
side institutions two months or more
ago. This results ample vindicatiOn
| Of the policy lately adopted by our
banks whereby a rate of IL per cent was
charged for outside renewals. Under
these changed conditions, such of the
New York banks as lately shut down
on unrestricted cash payments to de-
| pc sitOrs are gradually resumiDg theil
former accommodation.