St. Paul daily globe., 1893-11-24
FINANCIAL.
New York.


movement in the stock market received
check today which was due mainly to
the manipulation of the bear traders.
assisted by the sales of those operators
who desired to realize on their long
stock acquired at figures below the cur
rent quotations. Aid was also lent by
the reactionary tendency of two of the
leading industrials, General Electric,
arge blocks of which were thrown on
the market for the account. 1t was
rumored, of the Ames estate, and Sugar.
which was adversely affected by a re-
port from Washington that the tariff
to be placed on the staple would
not be such as to give the COM
fort looked for by the refining COM
pany. General Electric did not betrav
Its weakness in the early dealings, hav-
ing first advanced IL per cent to 81.
upon reaching which point it began to
sag, with occasional slight rallies, and
gradually fell off under heavy offers to
333s, rallying to "a at the close, a de-
cline of per cent from the highest
point OF the day. Sugar sold down "a
per cent In the early dealings, recoY-
cred q and dropped ~, with a final
recovering of 3s, recording loss of
business being lighter than for two
weeks past.
An active business was done in Dis
tllllng, which, after an early decline Of
p per cent, rose ~ on purchases in
duced by report that the tax on spir-
its would be increased zoe a gallon.
which would give the company a large
profit on its accum llated stock of whis-
KY. In the late dealings the
shares reacted 1 per cent, recov-
Verlng IS and making gain on yester-
DAYS final sales of II per cent. New
England was about the only other active
stock which recorded any advance on
the day, selling up from 29% to 31I.
and reacting to 30sI, which is IL above
yesterdays closing figure. The i'm
proVement was not explained by deveI-
opments save the disclosure of buying
orders on good scale. In the special
ties Chicago q Eastern Illinois rose 2
and American Tobacco u per cent.
Ihe general market was dull and weak
during the day. and closed heavy. There
was no sustained pressure to sell. but
spasmodic raids were made bv the
shorts and some long stock was
sold to gather in the profit. When the
selling became less pronounced the
market recovered part of the losses in
CURED, but the trend was downward.
and the final sales were made at a de-
cline from the closing figures of yester-
day OF q to per cenbin the active
list, the latter in st. Paul, while Della.
ware " Lackawanna broke AZ per cent
on a sale of 200 shares; Louisville, st.
Louis d Texas, 21a; Lake Erie & West
ern preferred, ~; Manhattan, 2; Sus-
quehanna d Western, II, and Missouri
racine and Cordage, l per cent. Edison
Electric sold down to 95, against 1O1M
on Oct. 80.
In the railway and miscellaneous bond
market very strong tone prevailed ana
higher prices were made for most of the
issues dealt in, the leading advances
being: Colorado Coal Il Irou skies, 5:
Milwaukee & Northern firsts, 1913 3:
Fort Worth q Denver City skies, 2, and
st. Louis, Kansas City & Northern Real
Estate sevens, 21a; Ohio & Mississippi
consols sevens, and do sinking fund
sevens, 20; Rio Grande Western frsts.
2; st. Paul, Minneapolis & Manitoba
SKIES, Montana Central division, u do
extended fours, /; Union Pacific gold
SKIES collateral trust notes and
Third Avenue irSts, 2 per
cent; Galveston, Houston Il Henderson
fves and Oregon Short Line skies, u;
st. Paul Terminal fives. ~, and North
west sinking fund debenture fiyes, per
cent In exception to the general
strength were Cleveland & Canton
frsts, which declined 9; Richmond
Terminal trust SKIES, 8; General Elec-
trio debenture fives, 219; Louisville &
Nashville. Pennsylvania division skies,
II. and Lake Shore coupon frsts, l per
cent.
Minneapolis & st. Louis firsts sold at
Railway & Navigation fves. sold at 60.
against ca on Nov. Is.
The Post says: While the sentiment
noted in yesterdays stock market con-
tinued favorable today, there was a
proper enough reaction from yester.
days effort at hurried rallies. Today's
relative weakness came. as might have
been anticipated. chiefly from selling
by the usual spectators for the decline,
whose outstanding snort contracts were
greatly reduced on Tuesday, leaving the
operators free to act again. The days
news, on the whole, was mixed.
Little II anything was said of the con-
tinuing Lehigh Valley strike-a very
curious fact, proving the unwillingness
OF bear leaders to venture much. This
is indeed an almost unique example of
a movement whose dangerous possibiIi-
ties the market to all appearances totally
Ignores. 1t ignores it exactly as it ig-
nored the Bank of England scandal. the
Whyland failure, and the other
serious mercantile suspensions of last
week, of which the majority of Wall
street brokers probably have not even
heard. Such marked apathy in the face
OF striking incidents of the kind NAV
not mean confidence in higher prices,
but 1t is hard to see how it can signify
general confidence in lower level.
The Total Sales OF Stocks
today were 100000 shares. including:
Atchison. 3,1O0; American Sugar, 49,
600; Burlington & Quincy, 10. 100; Chi