St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-12-17
FINANCIAL.
New York.

NEW YORK, Dec. 16.-At a meeting
of the board of directors of the Chicago
Junction Railway and Union Stock
Yards company, of this city. today. a
resolution was adopted authori Zing the
company to donate to the Worlds Co.
lumbar museum the S32, 500 of stock
originally subscribed by the com
to the Worlds Columbian exposition.
The directors adopted a resolution de-
claring 1t to he the sense of the board
that the usual dividend of 8 per cent ON
the preferred and 4 per cent on the
common stock should be declared
at next weeks meeting Of the directors.
More business was done between 10 and
~ O'Clock today than on any day
of the week that has just ended
but the dealings were mainly on the
bear side, and the general tendency
was toward lower prices. The market
opened dull and irregular, but in the
main lower, but soon developed a fair
leader, large purchases being made in
an effort, it is said, to compel the shorts
to cover. 1t was reported also that the
chances were more favorable to a better
sugar schedule in the tariff bill. Dis
tllling was also bought on a report that
Secretary Carlisle has declared himself
in favor of an increased tax on
whisky. A reaction took place before
half an hour had elapsed which
was merely fractional, except in
the case OF a couple of usually inactive
stocks. This was checked by the de-
velOpment of an active buying move
ment in General Electric, based on re-
ports that the payment of dividends on
the preferred would be resumed on the
first quarter of the new ear and that a
block OF 1000 shares had been taken out
of the street by a prominent investor.
Under this influence stock rose II per
cent and there was a pretty general i'm
provement, Sugar advancing ~; ditto
preferred, Distilling q; Rubber l, and
Wheeling q Lake Erie preferred, ~
per cent. Shortly after IL o'clock the
buying became lighter. which embold-
ened the bears, who attacked Sugar, the
other industrials, the grangers and
other shares, with the result of bringing
about a decline ranging from 4 to pa
Chicago, Burlington Il Quincy, Canada
Southern, Delaware, Lackawanna q
Western leading the downward move
ment. In the final dealings there was
an attempt to cover On the part of a few
shorts. which resulted in a of
q small fraction in some shares, and
gave a shade firmer tone to the specula-
ton at the close. Wells, Fargo sold at
100 against 124, the last previous sale.
Sugar preferred is l per CEN up Oh the
day and the common Is down. Cen
trail Electric is IS and Rubber 1 per cent
higher. Most of the sha es are, how
ever, lower on the days transaction,
including: Cordage preferred, ~;
u; Delaware, Lackawanna & Western,
115, and Baltimore & Ohio, Cotton Oil
preferred. Evansville & Terre Haute
and Kanawha and Michigan, / per cent.
On the weeks transactions the
changes IN the railway list are mainly
declines. Evansville & Terre Haute is
down 6; 1obac op tferred, ~; Della
ware. Lackawauna & Western, 5ss;
American Express, 4 per cent; Pitts
burg, C. G. Z. & ST. L., 8; st. Paul and
New England, %; Western Union, "a.
and Iowa Central preferred and st.
| Paul & Duluth, 2 per cent. The indus
trials are mostly found in the list of
advances, including Lead preferred,
ferred, 81; Sugar common, a; Rubber,
5: Rubber preferred, 81; General Elec-
trio, AZ; Colorado Fuel & Iron, 30;
Tobacco common, pa, and Edison Eiec-
trio, 2 per cent. Wells Fargo Express
! shows a gain of 6 per cent.
The bond market was generally weak
throughout the day on a fair volume Of
business.
The Total Sales of Stocks
today were 100. 800 shares, including:
American Sugar, $500; Burlington q
Quincy. 100; Chicago Gas, $500; Disc
tillers and Cattle Feeders, 10, 200; GEN
eral Electric. 1920; Reading, 1900; st.
Paul, 10000: Western Union, 1850.
stocks-Closing.