St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-11-28
FINANCIAL.
New York.

New YORK, Nov. 27.-The specuIa-
ton on the stock exchange today WAS
remarkable by reason of the strength
manifested by the railway list in the
face of very serious overturning of the
values of the industrials. 1t was ex-
pected that the provisions of the new
tariff bill would be made public today,
and consequently the street was pre-
pared for all active speculation, the
brokers were early at their offices, con-
situations with customers had to the
end that orders should be explicit in
view OF the impe uding movement. An
unusually large number of stop orders
were given, and when the break in
prices subseq uently came, it materially
assisted the downward movement.
The first favorable news that came
was of the reduction of so per cent in
the sugar tariff and the lowering of the
bounty to domestic producers. 1t was
followed by a wild rush TO sell the
shares Of the American Sugar Refining
company'S block of the stock, which
were thrown upon the market at con-
Stantly declining prices, aud with no
appreciable rally until break of Z per
cent had been made, which was shortly
before 2 O'Clock, when over rlOO. 600
shares of the stock had been disposed
of. A slight buying movement was de-
veloped at the lower figures. which re-
suited in recovery of 81 per cent Il
per cent OF which was subsequently,
lost.
In the railway list there was a frac-
tional decline at the opening, but de-
spite the slaughter of Sugar and Dis
filling and the generally unsettled feel
ing in the industrial group, there was
no break i'll the RAILWAYS
The bond market was irregular dur
ing the day but closed firm. The lead
Ing changes are:
Advances Chicago & Western ILL
nois frsts, 81; Tennessee Coal & Iron
frSts, Birmingham division, 5; Great
Northern thirds and st. Paul firsts, |.
and ID. division, 4; Detroit, Mon. & Toll,
80.
The Post says: 1t was known before
the opening of today's stock market
that the details of the new tariff bill
noon the details themselves were
known. Common expectation had been
that the announcement would be fol-
lowed by sharp general decline. This,
however. was precisely what did not
come. On the contrary, the general
markes opened with rising prices, the
break iii the industrial group, under the
influence of Sugar stock, rendering only
more impressive by contrast the
strength prevailing elsewhere, and it
was not until late in the day that even
mild reaction came.
Cordage and Lead fell a point or more,
undoubtedly on the tariff provisions re
garding binder Irvine and white lead,
while General Electric stock and Dis
tllllng certificates yielded on general
principles, Whisky stock being credited
with the usual expert inside manipula-
ton. The general list showed little dis
position to follow this movement, but in
the last three hours was subjected to
some considerable hammerng by the
bear traders. Under this pressure
prices yielded. but hardly more de-
cided than had been looked for as q re-
suit of last weeks advance. The last
half hour was marked by almost CON-
plete dizziness, prices holding firm at
the days later level.
The Total Sales of Stocks
Today were 343, 400 shares, including:
Atchison, 3, 100; American Sugar. 1872
900; Burlington q Quincy, 1880: Chi
cago Gas, 1880; DistiIIerS, 81, 400: Gem
eral Electric, 1900; Louisville d Nash
vile, 1900; National Lead, 1890: New
York q NewEngland. 5000; Northwest.
$500; Omaha, $500; Reading, 16. 500:
Rock Island, 1l,000: st. Paul, 2o,5oo;
Western Union, 10000.