St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-05

bear panic. The shorts. when they
not to be had readily, and in their haste
to retrieve themselves they bid prices
up on each other. The belief that the
arrivals of gold from Europe next week
VIII relieve the money pressure, and
that President Cleyeland's message
Will have TeaSsuring effect in tinan-
cial and commercial circles, had much
to do with the sharp upward turn. The
advance was equal to Is to Z per cent.
General Electric rose to-5l15; Chicago
Gas, 6s4 to 5214; Northwest, 81 to 99$4 ::
Rock Island, 514 to 614; Sugar, SIS
to 75]S; st. Paul, So to 55$5: Lake
Shore, to 10; Pullman, 5 to 147; Cotton
Oil, AZ TO 81; Louisville IL Nashville,
453s to 575s; Ganhattan, a. to 1l2%:
Jersey Central, 4 to 90; Lackawanna, 4
to ISL; Burlington u Quincy. to so,
ana Western Union, 3@S to ISL. Just
prior to the close General Electric and
Northwest reacted 1401% per cent, but
the general market left off strong or at
near the top prices Of the day and week.
A marked exception was Union Pacific,
which shows net loss for the day of
about point, on the talk about re-
ownership. The directors, it is said, will
meet on Tuesday next, when the affairs
of the company will be thoroughly dis
cuSSed.
The railway and miscellaneous bond
market was firm. The sales were ST.
$4,000. American Cotton OIL, IS, rose
20 to 1O7; AtchtSOn IS, 2 to 73; Burling-
ton IL Quincy sinking fund 5s. to 1O2 :;
Detroit Mac x MARYLAND grants, . to %;
oregon Improvement 5s, 81 to 1879 :;
Richmond Terminal trust receipts IS,
rs to POS Rio Grande Western, firSts,
to 81; St Louis IL San Francisco con-
solidated IS, 3 to 55; Burlington &
Quincy As. fell ~ tOS0; Iron Mountain
llrstS, to 95: Miss Ouri Pacific Is, > to
90; Ohio d Mississippi consolidated Is,
AZ to l03, and st. Paul IL Duluth sec
OndS, to 100.
Consumers Gas, of Chicago, firsts,
sold at 6Jc against 90c. the last sale, but
later rallied to 7015c. Oregon Short IS,
brought S913c against S9c, the last re-
ported transaction.
The Post Says:
Today'S prices advanced rapidly, and
they advanced because they discounted
next weeks new supply of money. OF
TINS there can be no question. At least
SlO.OO0,COO gold will be turned into the
city banks by Wednesday next, and
fully $4,000, 900 national bank circula-
N'N'' "'iA w tbNNNi W IL iIOill lilG SONtI IL
ment presses. Presumably prices went
up today through the use of call money,
the buyers reckoning that next week
will expand and relieve the time loan
market. If this be called an expansion
OF the currency. it is such only because
OF the undue contraction previously
brought about by foolish hoarders and
deliberate miSchiet-makeTS. The owners
OF the currency in safe deposit vaults
are likely to learn, too late. of the extent
to which they not only embarrassed cur
rent business. but threw away OppOr-
tunities. The probability is that these
stores OF boarded currency will be re-
leased far more suddenly than they
were locked up, and that before the
lapse OF many weeks the money market
Will be fairly followed. But this, of
course, will depend upon the action of
the extra session, and it may not mean
quick return of business property.
The Total Sales OF Stocks