St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-12-19
FINANCIAL.
New York.

NEW YORK. Dec. IS.-It served in no
degree TO give tone To the share specu-
lation that the movement of gold to
Germany had been checked by the de-
cline III exchange. The announcement
that no more gold would 20 abroad for
some TWO weeks TO come gave no sup
port 10 market in which the sellers
largely outnunbered the buyers. The
feature of the stock exchange dealings
today was a determined attack made bv
the bear clique on New England. who
sold IL Down 575 per cent, with never a
rally beyond al occasional One-eighth.
About noon there was { recovery of h
which was maintained for but brief
period. ana Then cams another decline
or Ia per cent, the closing prices being
at recovery Of Is per cent. the net
loss OF the day being 21I ner
cent. Large blocks OF the Stock were
brought out by the raid. which WAS ac-
companied by such discomfortiug ru-
mors as that the January interests
would not be paid, Which was promptly
denied by the company's treasurer. and
that the Mcleod interest was selling
out. which did not find many believers.
The best opinion as to the motive of the
raid IS tlat the opposition 10 Mr. Nc
LeCd- project TO gain an entrance for
4
sired 10 depreciate the stock. in the hope
OF embarrassing MIN in the completion
OF ms plans. a drive was also made
against ii. Paul on the publication OF
the earnings for the second week in
Deceutber showing decrease OF $I71.-
353, which Is heavier than was expected.
Inc selling was not all by the
bears, as not little long stock
was also placed on the market.
the decline which followed eoDtfn-
uIng until the final dealings. when =
depreciation III value Of 20 from the
highest point OF the morning had been
effected with only a recovery Of 3 al
The close. Sugar was next in point of
ACTIVITY, and was strongly held in the
early dealings. advancing d per cent.
but then giving way with tie rest OF
the market ~ per cent. of winch !
per cent was recovered in The final
sales; the preferred stock broke , per
cent on sales OF three l00-share lots.
General Electric had also TO bear the
Drunt OF bear attack. Which was most
pronounced in the late dealings. The
stock was somewhat sensitive in view
Of reports Of the commencement OF suits
against the company On different
causes Of action, one being that lis OF.
ganIZatlOn was a hindrance TO trade.
After a 3 advance from the opening
tile shares dropped "a, recovering >
IN the last sales. The general marker
was heavy al the opening, but the early
decline was only fractional, and during
The first halt hour of business prices
were fairly well maintained. Then
came the bears 10 the attack. and lie
hammering of New England and S..
PauI depressed the entire list. which
yielded easily IN The absence of sup
porting buying orders from abroad or
al home, what little the London houses
did being on the snort side OF the mar
ket- Shortly after II O'Clock there MAS
d fractional recovery, but after midday
the pressure 10 sell became more pro-
nounced than ever. and tor the rest OF
the afternoon until a few minutes before
tie close the course OF values was down
ward on an active market, III which the
transactions were well distributed.
Some purchases 10 cover short contracts
brought about slight recovery in the
nnal dealings, and the market closed a
shade better. but at a decline compared
with the closing figures Of SATURDAY.
morning from 4 to ; per cent, in which
every stock JTaued in, with two or three
unimportant exceptions, participated.
The Total Sales OF stocks
today were $50. 100 shares. Including:
Atchison, 5000; American Sugar, IL
600; Burlington x Quincy, ID. 100: Chi
cago Gas, 7,70o; Disiiilers and Cattle
Feeders. 10000; General Electric. Il.
600: Lake Shore, 4SJ: New York d
New England, Is, 800; Gnt rio IL West