St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-11-10
FINANCIAL.
New York.

IHeW 3OEhs
New YORK, Nov. 9.-The favorable
influence of Tuesdays elections on the
share SpeculationS seems to have been
counteracted by the announcement of
Speaker Crisp and leading members OF
the Democratic congressional delega-
ton to the effect that the tariff pro-
gramme will not be changed. The indi-
cations now are that the tariff will be
the thing upon which the market will
be moved until final action upon the
subject by the approaching congress in
the absence of any special moving in
f1uence on particular stocks or the list
at large. The industrials nave become
leaders in the speculation and are
particularly sensitive On the tariff
question, and they have been recently
used to move the market sympathetical-
ly with considerable success. Hence the
tariff at this time is calculated to have
more serious effect upon the
current speculation than in the past,
and the work of the ways and means
committee of the house is closely
watched, and all rumors will be used on
the stock exchange. 1t was compare
lively dull on the stock exchange today.
After weak opening the prices fell off
49l4 per cent on selling. the volume
OF which was increased by orders from
the West. London was not in the mar
ket, as quotations here and in London
were about on parity, which kept the
arbitration houses inactive, as there
was not any very heavy local buying.
Prices sagged until an effort was made
to acquire some shares of Sugar, which
ran that stock up per cent, carrying
with it thetgeneral list to the extent of
II per cent. This movement was, how
ever, of but short duration, and by noon
Improvement had been lost in nearly
every instance, and in some instances
shares had dropped below the opening.
In the late dealings Sugar recovered l
per cent. and the other shares were af-
fected, but the general tone of the mar
ket was heavy compared with the final
sales OF yesterday. st. Paul, Rock ISL
and, New England, Union Pacific and
Sugar common are down per cent;
Distilling, General Electric, Tobacco,
Lead, Northwest, Pacific Mail and Oma-
ha Q; AtchiSOn and Sugar preferred IL;
Chicago Gas and Western Union, tx;
Cotton Oil Common and preferred, Lead
preferred, Rubber preferred and Balti-
more q Ohio, ~; Louisville q Nash
vile, 15s; Manhattan. ~ per cent, and
Evansville q Terre Haute, per cent.
Hooking Valley is up rs, Delaware &
ferred and Susquehanna & Western
preferred q per cent in contrast to the
general list.
The railway and miscellaneous bond
market was active but unsettled,
Atchison and Chesapeake & Ohio
issues leading in the dealings. Oregon
hallway and Navigation fveS sold at 81
against 81, the last previously recorded
sale; Northern Pacific and Montana
tirsts. which sold at 81 Nov. l,
sold at so today; Tennessee Coal
and Iron firsts, Tennessee division,
declined per cent; International q
Great Northern frsts coupon of 8,
which is in second-class A, ~; Seattle,
Lake Shore 81 Eastern trust receipts. 2;
Chicago u Erie tirsts, ~; Ohio South
ern tlrSts, ~, and Houston & Texas
general tours, per cent. In the column
of advances the leaders were: Atlantic
q Pacific tours, Pittsburg, Ft WAYNE
IL Chicago frstS. and st. Louis, Kansas
q Southern; st. Charles Bridge firsts,
2; Great Northern seconds and st.
Paul, Minneapolis & Manitoba first
consol SKIES. ~; Nashville & Chatta-
noOga firSts, 213.
The Post says: Yesterdays cover
pleted before the close of Yesterdays
market. This morning neither specu-
lative party courted activity. and for
half the day the market rested in an ex-
IRENE of dizziness. During the after
noon there was moderate selling
movement, to take profits ON the ad-
vance of yesterday, and prices yielded
pretty continuously. For, from this
speculative point of view, 1T must be
remembered that the sales of stocks are
still i'll measure Swelled by offers
from holders of securities which need
the money in their ordinary business,
but who have been generally holding
back to see what market should ensue
after the silver purchase laws repeal.
This situation is. of course, emphasized
by the legislative conditions already
discussed and is offset among the bears
chiefly by thorough doubt as to the
character of the forthcoming tariff bill,
and as to the prospects of a general re-
covery on the new currency outlook.
The weakness in the closing hours this
afternoon affected almost exclusively
the Industrial stocks, and was natural
enough reaction from their rather eX-
cessive advances yesterday. They were
bid up on the election news by the same
manlpulatorS as advanced them during
the recent silver debate. All other
markets moved today as uncertainty as
that for stocks. Sterling exchange fell
slowly back to last weeks figures:
wheat weakened irregularly and silver
gave way fraction for the first time
since after the repeal recovery began.
The Total Sales OF Stocks
today were $4,000 shares, including:
Atchison, 1920; American Cotton,
5000; American Sugar. AZ, 400; Burlington
d Quincy, 10000; Chicago Gas, 27,700;
Dlstlllers and Cattle Feeders, 1880;
& New England, $500; Reading. IA
400; Rock Island, 9,3OOi Western
Union, 1920.
Stocks-Closing