St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-09-29
FINANCIAL.
New York.

NEW YORK, Sept. 2S.-The patent In
fiuence upon the share speculation of
the silver question was demonstrated
very forcibly OH the stock exchange to-
day, when upon advices from Washing
ton construed by the street as favorable
to the passage of the Sherman act re-
peal bill, a purchasing movement was
inaugurated which sent up the general
list, with some few unimportant eXcep-
tions. The market in London for Amer
lean securities also showed an improve
dent Cleveland's letter to Gov. Northen,
which made it clear that the admins
tration would not agree upon any COM
promise measure. and from which the
conclusion was drawn that the repeal
bill would become a law as it stands.
The strength of the market abroad
naturally helped the home market, and
assistance was also lent by buying orders
from London in st. Paul, Reading,
Atchison, Erie, Union Pacific, and Louis
vile q Nashville. Another factor of
the improved situation was the total abb
sence of reports regarding gold ship
ments. The conditions were therefore
quite favorable to strong market, and
at the opening there was buoyant feel
ing which led to the recording of higher
figures for nearly all the active stocks.
Yesterdays short interest came into the
market to cover, and the tendency was
decidedly upward when bear raid was
made which resulted i'll temporary
halt in the advance, and slight reac-
ton. 1t was not good day for
bears. and the efforts to offer
down the market were unavailing,
there being plenty of buyers at the de-
cline who followed the market up, and
lNx IA lir%
substantial improvement. But the
bears fought hard, the changed Senti-
ment of majority of the operators hav-
ing taken them by surprise. Their eff
forts were, however, futile, except TO
bring about an occasional slight reac-
ton which merely served to mark the
course of the advancing quotations
without really checking the movement.
In the final dealings the market was
buOyant, and closed generally strong at
an advance compared with yesterdays
closing figures of 4 to 33s per cent. The
commission houses which had been
complaining of dizziness report quite
number of buying orders today, but 1t is
not believed that there has been
great deal Of ontside buying. Gen
eral Electric closed today at ex-
actly the same price as on yesterday, but
it ffuctuated widely during the day, de-
Ginning from Al e to 39sl, selling up to
Az, reacting to 1917, advancing to
1925, and receding to 4135 at the close.
The selling movement i'll the stock was
caused by renewal of the reports of an
impending reorganization of the COM
pany, the buying when restored it to
Yesterdays figures being largely cred
tied to outsiders. Chicago Gas and
Sugar. which led the market in point OF
activity, shared largely in the improve
ment, the tirst-named advancing 81,
Sugar preferred ~, and the common
81. Delaware, Lackawanna u West
ern made the greatest advance Of the
day, 33s per cent on the presumption
that its earning capacity would be In
creased by its proposed Western con-
nection with the Toledo, Ann Arbor q
North Michigan. The other stocks
which led in the rise were Cotton Oil
and Louisville & Nashville, ~; Rock
Island and Chicago. Burlington &
Quincy. 2B; Manhattan Consolidated,
2I: Cordage. Pullman, Union Pacific,
st. Paul, Northwestern, Western Union,
Susquehanna and Western preferred
and New Jersey Central,>2; Erie, ~;
Northern Pacific preferred and st.
IL; New York Central, Reading and
Lead, tx; New York & New England,
| II; Denver & Rio Grande preferred,
I18, and c., c.. @. & St Louis. New
York q Northern preferred and
Lead preferred l per cent. In
exception to the general strength
the Wheeling & Lake Erie pre-
ferred declined II Lake Erie & West
ern preferred, ~; Hooking Coal, IA.
and Laclede Gas preferred 2 per cent.
The bond market was irregular and
unsettled, though at times displaying
much -frmness. Among the issues
which advanced were st. Paul & North
ern Pacific firsts, 3; Richmond Terminal
trust fives and Northwest consols and
Reading tours, Wabash firsts, Northern
Pacific consol fiyeS, Rock Island fives,
Central Pacific SKIES of 1898, and Louis
vile u Nashville consol sevens per
cent. Lehigh & Wilkesbarre frstS and
Green Bay & Winona incomes declined
2: Reading preferred incomes and Lake
Shore coupon firsts ~, and do coupon
seconds II per cent.
Total Sales of Stocks
today were 192,sOO shares, including:
Atchison, 600: Sugar, $500; Chicago
General Electric, $4,000; l.. & N, 23. 900;
Missouri Pacific, 1000; N. Y. 4 n. E.,
3 700; Reading, 1880; Rock Island,
! 6.100; 81. I'"nl. is. 200; silver certificates,
35,0OU; W. IN Union, 1920.
New York Money.
NEW YORK, Sept. 2s.-Money on call
easy at 1925 per cent. last loan 211a,
closed offered at 2115. Prime mercantile
l Daper. TX Der cent, Sterling exchange