St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-10-20
FIN ANCIA7A
New York.

NEW YORK, Oct. 19.-On the stock eX-
change today the speculation was al
most featurelesS and the dealings were
on small scale. The only time when
the market could be called at all active
was shortly after 2 o'clock, and even
then the transactions were mostly con-
fined to few shares. The street is in
ton and operators are not dis
posed to buy or sell very largely
pending the settlement of the Wash
ington situation, which speculative
interests affect to believe is rapidly
drawing near. After weak opening
prices took an upward turn and quickly
recovered the early losses, the market
becoming firm. There was a fairly
steady trading for about an hour, when
reactionary movement was Inaugur-
ated which carried values down, the
early improvement being lost and a
fractionally lower range of figures be-
ing established before noon. During
the next two hours the room traders
engaged in an uninteresting contest for
points, the fluctuations being narrow
and the volume of business light.
After delivery hour the temper of the
speculation underwent change and
for while there was brisk market.
The short interest undertook to do
some covering, and purchases were
made for the long account on reports
from Washington that plan had been
agreed upon to bring the silver senators
to vote. Under the influence Of this
buying the market took an upward
turn.and the best prices of the day were
touched. The Improvement was we'll
maintained to the close, the general list
closing at or near the best prices of the
Il |, oit,- II ~,
final sales of yesterday, of 2M per cent
in Pullman, 2 in Canada Southern, 13I
in Baltimore & Ohio and United States
Rubber, u in Consolidated Gas. Lake
Shore, Cotton Oil preferred. Colorado
Fuel and Iron and New York, Chicago
& st. Louis, l 4 in Northwest and Rock
Island, in Missouri Pacific and Rock
Island, and q per cent in Chicago,
Burlington & Quincy, Western Union
and Buffalo, Rochester & Pittsburg.
The rest of the list showed advances
of I@59 per cent. with some few eX-
ceptions in which declines were record
ed, the greatest being l per cent in
United States Rubber preferred, and
New York & Northern preferred, Chi
cago Gas, Erie, Louisville and Wabash
being down %@1a per cent. The mar
ket for railway and miscellaneous bonds
was quite active, and, in the main,
strong, although some issues were
weak. The changes, compared with the
last previous sales, were: Advances
- Chesapeake & Ohio purchase
mortgaging fund, So: Peoples Gas
of Chicago, 5; Kansas Pacific
consols and New York Central regis
tered firsts, 8; St.Paul firsts gold sevens,
Northwest cOnsols and Oregon Short
Line SKIES, 2: AtchisOn seconds, class
A, ~; Rock Island coupon firsts,
Union Pacific, Denver q Gulf tirsts and
New York Central coupon firsts, ~:
Erie extended firsts, 135; Chesapeake Il
Ohio fveS, u; West Shore tours regis
tered, -, and Fort Worth & Denver
City skies and Louisville, New Albany
consols, 1 per cent. Declines: Long
Island fives, 4; Mobile & Ohio new
skies and Galveston, Harrisburg q San
Antonio firsts skies, 3: Rio Grande &
Western firstS, 25s; Central Pacific skies
of 1896 and Iron Mountain seconds, 2.
The Post says: Until the last two
hours the stock market was one of SIM
pie drift. To wards the close a short in
terest of considerable volume was I'M
earthed in the grangerS stock, and a
little pressure forced some active COW
ering, with a sharp advance in prices.
1t should be remembered that these
SlOChS WcIC ldlcly tllo CtltcI VI profess
sional selling on the theory of losses in
earnings due to the diminished crop and
local business. However shreWd this
story may have been for the long fut-
ure, it was certainly poor reasoning for
the present. A child might have pre-
dicted that the rush of passengers to
Chicago in the eXposition's closing
month would fairly break the record.
Indeed, the number of gains IN gross
earnings reported today for roads in
various sections of the country is as much
of an encouragement as it is a novelty.
Outside of this professional buying.
back of stock, little was done today
The iadustrials were generally heavy
and Louisville weak. Even the London
trading, such as it was, arose clearly
from speculative orders given out in
New York city in connection with the
shifting OF accounts progressing here.
The bond market was almost completely
dead, and even in the time money mar
ket. SO completely has the recent sit
uation been reversed, brokers found it
almost an impoSsibjlity to place bank
funds committed to their charge. There
are, indeed, signs OF parallel condition
in the commercial paper market; for
merchants who very recently were
clamoring for funds, seem now, In view
of the long currency uncertainty, to
have abandoned plans for expansion in
winter trade. and to have quilted the
market.
Total Sales of Stocks
today were 152,50O shares, including:
Atchison, 1900; American Sugar, 122,-
600; Burlington, 10000; Canada Pacific,
LOO; Chicago Gas, $500; Distillers and
Cattle Feeders, $4,000; Louisville &