St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-10-28
ETNANClAs4.
New York.

NEW YORK, Oct. 27.-The volume of
business Oh the stock exchange today
was much less than for the past three
days, but the speculation was steadier
and none the less strong. A new leader
WAS selected for the dealings st. Paul
an unusually heavy buying movement
having been inaugural therein, this
stock having been comparatively neg
lected in the recent upward movement.
Some OF the purchases were for the
London account, and were based ON in
creased earnings and improved pros
poets OF the company. New York q
New England was also prominent IN the
transactions, the purchases being large
iy, it Is said, for the Boston ac-
count. The movement in the shares
was accompanied by reports that
an entrance to New York had
been secured by way of the Second ave-
nue. elevated railroad and that there
was prospect of its gaining through
line connection by means OF the LehIgh
Valley. AT the opening high range of
quotations was established, but the
market met with some selling orders at
the outset, which caused a reaction in
which only part OF the improvement
was lost. The offerings were readily
absorbed, and new buyers were at
tracted thereby, whose purchases
changed the current of speculation. and
the market was soon again on the up
ward track, the improvement continu-
Ing Until afternoon, when realizing
sales brought about another reaction OF
brief duration, followed by removal
of the advance. About l O'Clock
heavy tone came over the dealings, from
which they did not recover until
.lff O.sln .,atfA of IrI,
had receded 492 per cent, Lackawanna
and Manhattan making the heaviest
losses. Toward the close a sharp pur-
chasing movement was developed,
which caused Il recovery, and the final
sales were at an advance over yeSter-
days closing figures of 1929 per cent
III the active list. and extending to per
cent in the speciaties. The shares
which participated most largely in the
depreciation in values were: c. G. c.. Il
st. Louis preferred, g.; Rubber, COM
mon, AZ; Rubber preferred, AZ; Louis
vile IL Nashville, ~; Delaware, Lacka-
wanna d Western. ~: Flint IL Pere
MARQUETTE Marc, "a; Chicago Gas, To-
oils q Manitoba, 2; Missouri Pa
cific and Minneapolis & st. Louis,
preferred, ~; Northern Paclgc pre-
ferred, SuSquehanna u Western pre-
ferred, Delaware d Hudson, Iced pfd
and Starch. IL; Western Union and
Atchison. 135; st. Paul, Chicago, Bur-
lington d Quincy, Oregon Short Line
and Texas Land, IA; Ontario IL West
ern, Is. and Illinois Central, Kansas q
Texas preferred, Denver d Rio Grande
preferred and Cotton Oil preferred.
per cent. Cordage preferred, which
closed Yesterday at Ga, sold up in the
tn lS7/ lint in, ha.
ings fell off To 6315. The common stock
opened l per cent higher, but lost the
Improvement at the close. The receiv-
erS report is expected to be made public
tomorrow.
The railway and miscellaneous bond
market was strong in tone and fairly
active, the chief advances being So per
cent in Louisville; New Albany coil
soils, .; New Albany IS. AZ; Milwau-
kse, Lake Shore q Western firsts, Mich
igan division, ?; do tirsts, 4; Lehigh 81
Wilkesbarre IS, Oregon Improvement
5s and Oregon Short Line Us, 8; Rich
mond Terminal trust Is, 1$s: do IS, n
Michigan Central Is and Chesapeake 81
Ohio AS, 2.
The Post says: However slowly and
with whatever incidental reactions the
stock market may respond to this
can hardly fail to reflect eventually an
epoch making change. For ten years
and longer our silver coinage policy has
spread pail over the nations whole
finances. The market seemingly broke
away from its influence in 1885 when
the disastrous trunk line war was set
tied; in 1891, when Nature showered
her bountieS with unparalleled profu-
sion on American produce, even in 1890,
when Wall street greeted imitation as
blessing. But for each of these out
bursts there was speedy reckoning,
and with each successive ebbing away
OF bull enthusiasm. the load of the sill
yer incubus grew heavier. All this is
now passed. But let market quotations
rise or let them fall, the outlook for
American investment is undoubtedly
more secure today than it has been at
any moment since the silver war.
Total Sales of Stocks
today were 10000 shares, including:
Atchison. 29.400; American Sugar, Il,
400; Burlington & Quincy, q, 100; Chi
cago Gas, 81, 100; Chepapeake 81 Ohio,
100; Distillers and Cattle Feeding, 49,
100; Louisville & Nashville, $500; Mis-
souri, Pacific, $500; National Cordage,
$500; New York & New England .29, 900;
Northwestern, 8, 100; Northern Pacific,
5000; Northern Pacific preferred, 9,7OO;
Ontario & Western, 10,100; Reading,
2160O; Rock Island, $500; st. Paul, 81
800; Union Pacific, $500; Western
Union, 23,700.
Stoeks-Closing
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