St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-12-30
FINANCIAL.
Rev York.

New YORK. Dec. 30. Wall Street
The temper OF speculation OH the stock
exchange today was much improved:
the pressure TO sell was at no time pro-
nounced, except, perhaps as to Atch-
son; London was considerable buyer
Of the arbitrage Spec!aities, more par
ticularly Of Louisville IL Nashville and
a majority of the shares traded in re-
corded an advance on the days trans
actions. AtchiSon was sold freely OH
report that the plan Of organization to
be proposed would call for an assess
ment of SO a share. This, coupled with
rumor that big block of the stock
was to be marketed, induced movement
to sell, which was participated in by both
the long and short interest. The result
was decline CT ~ per cent, the
lowest point being touched IN the
final dealings, and there was only Il
per cent rally at the close. Boston and
the West were both sellers of Atchison.
Louisville & Nashville opened % high
er, reacted 4, and then began to move
upward, showing an advance of 81
shortly after noon. The buying was
largely for the foreign account, but
there was considerable covering of the
short interest, due TO the semi-officiaI
utterances denying that the question
of the seml-annual dividend had been
considered by the directors, and sug-
costing that even if the dividend would
be passed it would but tend to
strengthen the property, and had
been done before with good eff
feet. During the afternoon a reac-
ton of Is per cent occurred. followed
by recovery of = per cent i'll the final
dealing, the last sale being at an adj
vance of q on the day. There was an
active speculation in st. Paul, and the
bears made several determined drives
the stock. but never depressed the price
more than q per cent below the open
ing. RumorS as to decreasing earnings
and statements showing that on tile
most favorable showing its earnings for
the next six months could hardly pay
the regular Semi-annuai dividend were
circulated in vain effort TO cause Sc
rioUs break. There was strong buying in
the shares before deliveay hour but
in the final dealings a fractional re-
action ensued and the stock lost
4 per cent OH the day. OF the other
granger shares, Chicago, Burlington Il
Quincy recorded an advance of l per
cent, st. Paul d Omaha IL and Rock
Island and Northwestern "a. New
England was comparatively neglected.
There was some selling during the
morning, resulting in 4 decline of 81
per cert. which was quickly recovered.
LII the afternoon the trading iii the
shares was comparatively light and
there was a reaction of g per cent.
which was the net loss in the day The
short interest in General Electric be-
came frightened at the strong support
given to the shares and rushed to cover,
sending the stock up ~ per cent. Then
some realizing occurred. which brought
about reaction of IS. In the final deal
ms recovery Of q per cent ensued,
leaving a net gain OF q per cent. The
general market opened weak, but closed
fairly firm, and in the interim the tluc-
tuations. which were frequent but not
very wide DIS rule. tended toward
higher figures, and the final dealings
showed pretty general advance of ga
~ per cent, in which Louisville d
Nashville, Delaware d Hudson, ST.
Paul IL Omaha, Chicago Gas. and Chi
cago, Burlington S Quincy were most
prominent. LII exception to the upward
movement, declines were recorded Of 5
per cent in Minneapolis d st. Louis
preferred. 215 in Tobacco and st. Paul
d Duluth preferred, 2 in Atchison, IL
in Iackawanna and Louisville. New AL
bany, 15s in Wheeling d Lake Erie
preferred, and l per cent in Baltimore
X Ohio and Consolidated Gas.
The bond market was weak.
The Total Sales Of Stocks
today were 1SS,60O shares, including:
AtchlSOn, %. QUO american Sugar, 1000:
Burlington IL Quincy, $500: Chicago
Gas, 14,700; Distillers' d Cattle Feed,
6,500: General Electric, 1880; Louis
vile & Nashville. q, 700; Missouri Pa
cific, 1900; New York d New England,
3,1O0; Northwestern. 4. 400; Rock Island,
$500; st. Paul. $1,000: Western Union,
1890.
S:ocks-CIosing.
Atehison ......... 104 Northern Pacific 4IA
Adams Express. l47 Nor Pac. pfd 1879
Alton d Terre H.. IS q. P, d. q Gulf. 4l2
do pfd LIS Northwestern. 93s4
Am, can Express ITO INorLhwest'n pfd 134