St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-11-29
FINANCIAL.
New York.

NEW YORK, Nov. 2S.-The depres-
sion which marked the speculation in
the industriais yesterday, and which
affected the railway list to a limited ex-
tent, was in force again this morning in
the industrial group, but did not make
very serious impression on the rest of
the market, and even theEindustrials re-
covered the greater portion of the
losses which were made in the early
dealings, and displayed a reserve
power that was unexpected. The
healthiness of the general market could
not have received more thorough test
and could not have stood it more I'M
inchiHgly. During yesterday aud this
morning the values of one section of the
market kept tumbling around in wild
disorder, giving a good excuse, if any
were needed, for a sympathetic move
nent IN the railway shares. But the in
Yltatlon was not accepted. and the
SteadIneSs with which the general val
ues were maintained is very fiattering to
the soundnesS of the financial situation
and the stability of the share list Sugar
was the most mercurial stock of today's
market and sold in heavy blocks, one
lot of $500 being the second sale made.
Opening 3 per cent below yesterday,
Wv obONh az pei CCnb Oh SOlIlO
short covering and then entered on its
downward course. which was unchecked
until a break OF so per cent had been
made, the preferred shares sympathiZ-
Ing to the extent of AZ per cent. Lead
tell OF rs, and the preferred per cent;
DiStllling, 2A, and General Electric, l
Der cent. These declines were all made
IN the first half-hour, and thereafter the
tendency was toward higher figures.
The market did not advance continu-
ously for the rest of the day; there
were frequent reactions before the spec
ulatlon become steady, but the trend
was upward, and at the close Sugar had
recovered AZ; do preferred, 80; Lead
preferred, 5; Distilling. 2; General
Electric, 29s. and Chicago Gas, 335 per
cent.
The railway list opened firm, but re-
ceded a small fraction in the early deal
ings by reason of the drop in indus
trials. The heaviness was as brief as it
was slight, and during the rest of the
DAY the general market moved steadily
upward on moderate volume of bust
ness and by easy stages, closing strong
at an advance on the day of lag per
cent, the latter in Baltim ore q Ohio: l3S
IN New Jersey Central, u in Iowa
Central preferred, II in Union Pacific,
and per cent in st. Paul, Louisville &
Nashville, Canada Southern, Norfolk 81
Western preferred and w els Fargo.
In exception 10 the general strength,
some shares, including New York. Chi
cago u st. Louis, 2, and Manhattan and
Pacific Mail fell per cent. Compared
yesterdays final sales, the industrials
show the following changes at the close
today:
Declines-Sugar, /; preferred. =;
Lead. u; preferred. 1; DistiIling. 4;
Rubber, l; Cordage, g.
Acknowledgement Electric, tx;
Chicago Gas, 23l; American Tobacco, 2;
Linseed Oil, 70; Cotton Oil, q per
cent.
Laclede Gas preferred is down IL per
cent.
Railway and miscellaneous bonds
were somewhat Irregular in the early
dealings, but as the day wore along be-
came firmer and closed very strong.
The following advances were regis
tered:
st. Paul first sevens gold, 2s<: DO
consols, 2; do first Southern Minnesota
division, L; and st. Paul & Minneapolis
firsts, ~; Colorado Midland As rose 3
per cent; Louisville & Mas hYilie, n.