St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-10-03
FINANCIAL.
New York.

NEW YORK, Oct. 2.-The market was
almost entirely in the hands of the pro-
feSSional traders OH the stock exchange
today and the movement was Irregular.
the closing prices disclosing the fact
that while the majority of the shares
dealt in receded, declines on the days
transactions, not few made an adj
vance. The situation at Washington
was not regarded as favorable to silver
repeal bill and that question seemed to
be the thermometer by which Specu-
latlve values are now measured in this
market and on the London stock eX-
change as to American securities.
There was therefore a pressure to sell
at the opening of business and the first
prices were at fractional decline from
the closing quotations of Saturday.
Sugar was the weakest stock in the
list, being unfaYorably affect
ed by reports of prospective
tariff changes which would be preju-
dicial TO the interests of the company on
heavy sales the shares dropped 2 per
cent to 81, recovering to S75s, receding
to $50, aud closing at S736, decline of
15s per cent on the day, but Is per cent
above the lowest point touched. The
dealings in sugar amounted to nearly
one-third Of the total sales, and they were
carried on under the influence of ru-
mors that something unfavOrable to the
stock was impending, and this some
thing was not made clear until late in
the day, when the Washington advices
announced that resolution calling for
committee of investigation of the
affairs of the American Sugar company
had been introduced in the house of
representatives.. Whisky receded
with the rest of the list in the MORN
ing, but an active buying movement
was developed, believed to be set
on foot by insiders who had recently
sold some of their holdings and who
were induced 70 recover their shares
by the reported starting up of the dis
tilerieS and the improved trade pros
poets. the early decline was only q
per cent, while the advance was 23s
per cent. the highest point having been
touched before o'clock. During the
last hour there was reaction of l per
cent with final recovery of 4 per
cent, making a net gain OF ! Is per cent
over Saturdays closing. Reading was
the third stock in point of activity, and
was moved up "a per cent on the an
nOuncement that interest would be paid
OH the Junior bonds and OH improved
prospects of keeping the road from
covered quickly from the depression at
the opening and faint rally was eff
fected, but there was DO sustaining in
fiuence and quotations sagged back.
Delaware, Lackawanna u Western
dropped - per cent on a sale of 100
shares, only, however, to rapidly
recover IA per cent. During
the afternoon the market at
large grew tirmer, but the volume of
business was light and the fluctuations
narrowed down, the closing being fairly
steady. A majority of the shares dealt
in show decline on the days tranSac-
tions, Northwest losing II. On the
other side of the market were Illinois
Central and American Rubber, which
established an advance of per cent
each.
In the bond market the dealings were
irregular, but mainly tended toward
lower figures, and at the close were
distictively weak, Lake Shore sevenS
being off per cent; Richmond Term
NAL trust skies, 3; Milwaukee, Lake
Shore Il Western firsts, ~; st. Paul
first, Hastings q Dakota division sew
ems, and st. Louis d San Francisco
cOnSOl fOurs. 2; General Electric deben-
ture fives rose 4; ST. Louis K San Fran
cisco second incomes. Glass b, AZ.
LC OSI say HC IIlOHtIdly SlIud-
ton in Europe is singular. For causes
varying with individual cases, almost
every field of continental and colonial
investment rests under cloud. Several
important European nations are them.
selves on the verge of insolvency. and
others in high credit have complicated
the affairs of their inhabitants by sud-
den and arbitrary trade laws of the most
demoraliZing character. In the case of
two powerful nations, important fiuan-
cial moves are looked for, the exact
character of which nobody is able to
forecast. Reckoning with this the
Strengthened resources due to Europe's
business troubles and disastrous harvest
of the last three years, 1t is easy to un-
derstand the present apathy of foreign
investors. Naturally this apathy can
not be permanent Revival of enter
prise cannot be long delayed, and the
country with the brightest outlook and
with best opportunities will be the first
beneficiary of the investment revival.
The Total Sales OF Stocks
today were 10000 shares, including:
Atchison... 49,. 3.3O0lGeneral Electric. 800
Sugar. ..-.... 50, SOC n. Y. d N. Eng 1000
Burlington & @. 4,T00I Reading Al, 500
Chicago Gas. $500 st. Paul. IL, 700
Whisky. %, 6Jt Western Union. 1850