St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-09-15
FINANCIAL.
New York.

New YORK. Sept. 14.-Today was one
| OF the dulleSt on the stock exchange in
| many weeks, the sales OF only four
| stocks exceeding 10000 shares. The
market was almost entirely in the hands
| of the professionals. the outside buying
being on very small scale. To a Ger
tain extent the recent heavy advance in
| prices, in which nearly the entire list
| participated. has been due to the dis
counting of favorable indications, chief
among which Is to be counted the set
| tlement of the silver question on the
lines proposed by the administration.
The delay in reaching conclusion In
the senate is having the effect of Great
ing an impression that question may not
Ue SO easy Of solution as was supposed,
and that the disturbing elements,
while unable to defeat the Sherman
act repeal bill, may possibly manage to
weigh it down with ili-adviSed amend
ments, calculated TO uDsettie the none
tary situation. The difficulty in bring
ing the silver senators to a realization
is growing in influence on The specula-
ton upon the StOc exchange, and the
belief is increasing that future of the
mai ket depends largely on the course of
events at " ashingtOn. Among the Spe-
cial influences at work today on the eX-
change were the disagreement between
the dlstilling company AMI the diStrib-
uting company. the Boston selling of
Union Pacific on the belief that the
stock of the late f. j.. Ames
would be put Oh the market, re-
ports that the June statement OF
Union Pacific to be given out tomorrow
would make very bad showing, the
absence of the large orders from Lon
don that it was expected would follow
the reduction of the Bank of England
discount rates, and selling orders from
the West In Chicago Gas, So sluggish
was the trading. however. that the de-
ciines effected on the unfavorable mo-
lives were not very serious. and prices
moved one way or other in sort of per-
functory way. The dealings. TOO, were
very Irregular. and stocks moved indie
pendeutiy of each other. AT the OPEN
ing a generally firm tone prevailed. but
depression followed, which was changed
TO all upward movement of small pro-
portions.
During the afternoon. upon very light
trading, prices reacted, and the final
dealings were weak, although there
was practical recovery just at the
close.
The last prices. compared with yester-
days closing, show about AS many adj
vances as declines in the active list.
The leaders in the higher range are
Manhattan Consolidated. %; General
Electric. ~; Hooking Coal and Iron,
ia; Pullman. n, amt Baltimore u
ohio and Richmond Terminal preferred
each sc. The decline was led by Su-
gar, p; Iowa Central, 15s; Evansville
u Terre Haute, u, and New Jersey
Central, Colorado Fuel. Iron and To-
bacco, eacn per cent. In the railroad
bond the market was inactive, but the
tone was firmer than for the share mar
ket. Richmond Terminal securities
were notably strong and active.
NEW YORK, Sept. l4.-The Post says:
Ii is certain enough from the course of
the Bank of England's directors during
the past month that they were reluctant
to make amy reduction FROM the 5 per
cent minimum discount rate. Today's
reduction of l per cent was practically
forced upon them. The open market
supply of gold had grown so plentiful
that three months bills were down TO
half the banks minimum rate. and 10
maintain longer the 5 per cent figure
would be merely to sacrifice business
without producing any useful results
in the general market.
Bonds.