St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-12-31

S7,0G0,O00, and the year before only ST.
10000. When the many interest pay
mentS due Jan. are added to the pres
ent large hoardingS, the amount of
money seeking investment here will be
unprecedentedly large, and hence the
conditions do not favor the bears in the
stock market, and as the speculative
horizon has been cleared of some heavy
clouds during the past week. the situa-
ton is much healthier, and the new
year is brighter of promise 10y reason of
the fact that during the twelve months
Just about ended there has been
such a clearing up of weak railway
properties by means of receiverShipS
and reorganiZations. During 1898 some
seventy railroad companies, operating a
total of over 81, 900 miles of track, with
an aggregate capital stock Of over $780,
100000 and funded debts of over $780,
0O0,000, have been placed in the hands
of receivers. including the Philadelphia
u Reading, Northern Pacific, Erie,
Union Pacific, Atkinson, Topeka q
Santa Fe and New York d New Eng
land. With the difficulties of these cor
porations in process of acknowledgement,
large amount of speculative danger is
removed and an improvement in values
is to be looked for generally, rather than
depreciation.
At the opening of business today,
there was good demand for the lead
ing stocks, Louisville d. Nashville being
notably strong, the first sale being made
at an advance of rs on last night. the
general Improvement ranging from IA
to g per cent. In exception to the firm
ness i'll the rest of the list, New England
opened IS lower and then under heavy
selling broke ~ to 10, rallying 6s, max
inv q furthal. rta.latiOn TN QS/ oDd ,.Iocit,or
at recovery OF Is. The general list
fell OF Il to IA in sympathy with the
depression in New England, but sharp
upward turn was made soon before II
O'Clock. LinSeed Oil advanced per
cent, Manhattan Z and the general list
A@I per cent. AtchlSOn, which had
advanced g, declined IL, but sold up
rs In the final dealings, closing at an
advance of g on the day. Between IL
and 11:45 speculation was heavy and
dull, the general market receding 15(0
Is, Union Pacific l and Louisville. New
Albany 13s per cent. In the last fifteen
minutes OF business there was a rush to
cover by the bears and the lower range
OF values induced long buying, which
combined to make very strong market
and sent prices up 4 TO IL per cent.
Louisville u Nashville, AtchISon and
Missouri Pacific led the upward move
ment. The market closed with buoy
ant tone, the leading advances on the
day being Louisville 23s. Linceed Oil 3.
Cotton OIL u, New York Central and
Chesapeake u Ono rs. Manhattan and
Minneapolis IL st. Louis preferred 2,
and Southern Pacific and Wheeling q
Lake Erie per cent. New England
219 per cent. Colorado Fuel q Iron 2
and Sugar per cent Buffalo, Roches-
ter d FittSburg sold at 20 against 2S1a
the last previous sale.
The principal changes on the week
are: Observation-Disclosures IL Ohio, New
Jersey Central, American Cable, ST.
Paul d Duluth preferred and Colorado
Fuel and Iron, 2 per cent; Great North
ern preferred, 30; Canada Pacific and
Consolidated Gas. 3; Louisville a. Nash
vile and Duluth, South Shore IL At
lanuc, 81; General Electric. 33s: Louis
vile, New Albany 81 Pittsburg, c., c.,
Navigation, 3; Minneapolis u ST. Louis
preferred, 81: New England, 63S, and
Buffalo, Rochester d Pittsburg, 81.
Advances Tobacco. 9; Ma
tional Cordage, 23s, do preferred, 4; and
Linseed Oil, 4.
The railway and miscellaneous bond
market was generally strong through
out. The principal changes on the day
were:
ADMINISTRATION As, 5; Atchison
seconds, rs; Colorado Midland As, %:
Evansville Il Terre Haute firsts, ~;
st. Louis Southwestern firsts, u; Read
ing As, II; Peoria q Eastern firsts, 2;
Louisville u Nashville, Evansville &
II. n. tirsts, per cent.
DeclineS-Third Avenue Railroad 5s,
2; Long Island 5s, ~; Mobile q Ohio
Is and Northern Pacific Terminal firSts,
each l per cent; Hooking Valley Cen
eral Mortgage 6s sold at $50 against
$50 on Dec. 10. The leading changes
Oh the week are:
tana hrSts, 1917; Colorado Midland Is. 10:
Atlantic& Pacific As. IL louisville, New
Albany general IS, 81; ST. Louis d San
francisco consol As, 9; Union Pacific.
Denver IL Gulf firsts, z; st. Louis d San
Francisco. Glass A, q; do Glass B and
Z, 4$4; Wabash debentures, series B,
Hooking Valley general IS, 4: do 6s and
Morgan's Louisiana & Texas 5S, 5; Iron
Mountain 5s, AZ, and Seattle, Lake
Shore d Eastern first trust receipts,
] per cent.
! MISUNDERSTANDING Coal SIS, l1O1I,
| and Illinois Central, $685. per cent.
The Total Sales OF Stocks
today were $3.50 shares, including:
Atchison. 17,400; American Sugar, TO-
400; Burlington q Quincy, $500; Chi
cago Gas, $500; Distillers' & Cattle
Feed, 800: Louisville & Nashville,
| 1920; Missouri Pacific, 1,50o; New
York Il New England. 1880; Rock
Island, 1,400; st. Paul. 5000; Union
| Pacific, 1900; Western Union, $500.
A.