St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-10-12
FINANCIAL
New York.

today was to certain extent regarded
as the beginning of the end of the con-
test at Washington between the silver
and anti-silver forces in the senate had
more than little to do with the course
of the speculation on the stock ex-
change. In certain ciQues the contin-
uous session experiment was regarded
as of doubtful efficacy, and this feeling
was reflected in selling movement
which brought out considerable long
stock, and the bears were quite ready
to take advantage of the situation and
make drive all along the line. Lon
don was in the market, too, as seller.
but hot to any very large extent
though sufficient to aid the depressing
influences. The September crop report
with its especially poor showing for
corn was also factor in weakening the
market, and brought out some stock of
the grangers, viii Oh helped to mark
down the figures. A notable exception
to the general depression was the trad
ing in whisky. which was decidedly
buoyant, and led In the transactions.
The bulk Of the purchases was said to
be for insiders who wanted to get back
stock parted with by reason of the
trouQe between the distilling and dis
tributing companies which today, report
had it, were in adjustment. The start
ing up of all the trust distilleries and
the prospective advance in the spirit
tax helped the bull movement in the
stock, which rose from 3056, last nights
final figures, to 33L, with reaction of
IS per cent, making the advance for
the day 219 per cent. Union
Pacific opened at an advance of
per cent on the report that yesterdays
directors meeting gave no considera-
ton to the question of receivership.
and that statement had been made at
the meeting making better showing
of the company's affairs than was ex-
pected. Some heavy offerings brought
| out by tine rise had the effect of causing
a reaction of % per cent, but the shares
| thrown on the market were readily
taken, and before l o'clock the stock
had advanced Is per cent above the
| opening, the improvement being well
maintained to the close, which was "a
above yesterdays figures. The general
market showed very little change at the
| opening, but rush of selling orders
sent prices down 15@l% per cent. Mis-
| souri, Pacific leading, being unfavora-
| bly, affected by reports of decreased
| earnings. There was slight de-
| cline about 1890 o'clock, which was not
| however of much force and prices
| quic ly resumed their downward course
| the impression continuing unchanged
| til l O'Clock when new buyers came into
the market. sending prices up 4@l55
! per cent. But the heaviness that had
encompassed the market was not to be
! shaken off, and when the buying or
derS had been filled prices again sagged
! off, the downward tendency continuing
| to the close, which was weak. The
| closing prices were, perhaps. in ma
| jority of instances, below those current
at the close of yesterday, but many of
| the active stocks showed an advance on
the day of small fraction, includiug
| Chicago Gas, Atkinson, General Elec-
trio. Reading, and Louisville & Nash
| vile. The last named stock, which
| opened at an advance of g quickly
| lost the improvement and then took
an upward turn of 15s. of which
| it had lost only Is at the close. making
| an advance OF 4 per cent on the day in
! the face of decline at London. Among
| the shares which deprecated on the
| days transactions are Chicago, Burling-
ton & Quincy. Rock Island, New Jersey
Central, Pacific Mail and Susquehanna
| IL Western. Rhode Island, Delaware Il
| Hudson " and Pittsburg Cattle Car
Company and st. Louis preferred 219
per cent. The railway and miscellan-
| eous bond market was somewhat irreg-
ular, but was in the main firmer than
the share speculation. Pittsburg, Fort
| Wayne & Chicago firsts advanced Z,
| Erie first extended 2, Southern Pacific
of Arizona frsts declining 90, Louis
| vile Il Nashville firsts, n. D. Il Mobile
Division 8. Louisyill 81 Mississippi
| River tirSts 5.
The Post says: I'm the very general
| ct a
| days market the statement of an actual
increase IN the st. Paul's gross earnings
for last week had some considerable in
fluence. This was novelty in the sea-
| sons granger road announcements, but
| it need not have been surprising. The
| passenger travel to the Chicago fair
| during the last fortnight has probably
broken the record for ali railways In
that vicinity. BY far the greater bulk
of this traffic, moreover, came from
west of Chicago. The statistics of
attendance at the fair on days
devoted to the several interior states
sufficiently proved the character of the
movement. AS the exposition draws to
| increases. The granger roads report
their whole passenger equipment now
| in use, and 1t would be strange indeed
| if gross earnings did not reflect such
traffic. The Rock Island earnings, in
particular, will be helped not only by
the fair, but ~ the enormous rush of
settlers to the Cherokee strip last
month. But just how far all this will
tell on net returns Is more doubtful
| question, for rates have been figured
down closely. Recent advices from
Chicago on this point have, however,
been on the whole encouraging"
Total Sales of Stocks