St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-09-06
FINANCIAL.
New York.

NEW YORK, Sept. 5.-The speculation
on the stock exchange today was char
acterized by buoyancy upon which
some small bear raids and reaiiza-
lions by room traders had no
more than feeting effect. At the
opening the dealings were slightly
feverish, and prices were irregular, but
a strong buying movement was quickly
developed, and under its influences a
higher range of values was steadily es-
tablished. This upward tendency of
the market was stimulated in some of
the specialties. notably Sugar, by favor
able news, it being announced early in
the day that the executive committee of
that trust had recommended the declar-
alton of dividends of 8 per
cent in the common, and ~ per
cent i'll the end. Lead was
also strong on reported favorable
contracts made by the company, but the
chief factor today. as on Saturday, was
the increasing confidence in the stability
OF the monetary situation. Money on
call was easy, and time loans could be
negotiated upon favorable terms. Gold
was returning from abroad and cur
rency from the interior. Al the con-
dttlons were favorable TO bull move
ment, and. as if to help their old time
enemies, the bears ran 90 cover, seeming
to feel that tine present was not a time
to be caught short of long line, and
even Of very short line of stocks.
Therefore, what with the heavy buying
for the long account, the by no means
insignificant purchases to- cover short
contracts and some fairly large orders
from abroad, prices jumped up by
longer steps than usual, the
transactions were in greater vol
ume than for some time and
the foor'of the=eXchange presented a
scene of activity to VIII ich it has long
been stranger upon a rising market.
The industrials led in the dealings, and
of these Sugar was the most active
| stock. The stock was weak early in
| the trading, and reacted a fraction, but
Oh the dividend rose rapidly to point
| 81 per cent above the lowest figures.
| Chicago Gas came next in point of ac-
| tivity. but made wider fluctuations.
| After an early decline of 4 per cent it
rose 81 per cent, reacting ~ and re-
| covering 135 and closing at net gain
for the day Of 2$I per cent. ST. Paul.
which fell off early in the day on re-
| ported decrease in the August earnings,
| quickly recovered on heavy buying,
advancing 2 per cent from the
lowest point, reacting l per cent.
| and making fractional advance
On the day. General Electric was the
| steadiest of the industrials in the morn
| ing depression and the strongest of the
| entire list III the late dealings, selling
up Sd per cent from the lowest point
| touched, closing &c Off. but at gain of
| AZ per cent compared with Saturday.
| Western Union Was very strongly held
| throughout the entire day, and its up
ward course was helped to some extent
by buying orders from London. Its
lowest figures were made at the OPEN
ing and its highes: shortly before 2
O'Clock, when it showed rise of per
cent, from which it went off l "a per
cent, recovering fractionally and max
ing gain of rs per cent on the day.
Chicago, Burlington 81 Quincy sold up
Al per cent from the opening, reacting
% per cent. Atchison, Topeka & Santa
Fe at the highest point of the day
showed all advance of Us per cent on
Saturdays closing. but closed 3sc lower.
Whisky made gain of ~ on the day,
which is only y per cent below its
highest price today. Reading rose 81
cent; Great Northern preferred shows
an advance on the day of per ceut.
Laclede Gas preferred 4, Delaware e
dated 80, Missouri Pacific 8. Co.
orado Coal and Iron AZ, Hook
ing Valley 81. Wheeling &
Lake Erie preferred go, Pullman
5, New York, Chicago Il St, Louis I'd
preferred 2, and the list generally 80
IA per cent. Exceptions to the general
market were National Cordage and
Toledo. Ann Arbor & North
Michigan ana Tennessee Coal and Iron,
which closed at decline of q and "a
per cent respectively from Saturdays
closing sales.
Westinghouse asserting sold at POS,
as against 741i the last previous record
ed sale, decline of 5411s per cent.
Railroad bonds were i'll sympathy with
the share market and recorded advances
ranging from 4 to per cent, the latter
in General Electric debentures.
NEW YORK, Sept. 5.-The Post says:
Returning confidence was certainly ex-
pressed in today's stock market, only a
few stocks yielding even at the OPEN
ing, and this notwithstanding the fact
that London orders were trifle slow in
showing themselves. Most of the pro-
fessioual operators looked for a down
ward reaction this morning, and not
unreasonably, for Saturdays advance
went at startlingly rapid pace.
/ But there was no pressure of selling
orders in the market. and there were
signs in many quarters of an uneasy
short interest, both of which factors
were etfectually used by the manipu-
lators for the rise.
Stocks-Closing
Atchison.. 49,. 2ls4 Northern Pacific. 7ss
Adams Express. .137 N. Pacific pfd . 2lB