St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-11-11
FINANCIAL.
NGW York.

NEW YORK, Nov. 10.-The net results
or the trading OH the stock exchange
today were lncOnsequential, save in a
very few Instances, barely dozen
stocks showing change of over one per
cent, compared with the closing sales of
yesterday. New England was the
leader both in point of activity and as to
the width of fluctuations. 1t was af-
fected very Infavorably by the publi-
cation or story to the effect that a fight
had been begun by the opponents of its
scheme to gain an entrance to New
York city, aud that the first move was a
notice served upon it, that on Nov. 10
the special New England train service
over the New York, New Haven 81
Hartford railroad would be dis
continued. This report induced heavy
sales at the opening of business under
which the stock dropped 34 per cent.
An explanation made by the New Eng
land party that the proposed dIscontn-
uance of the special service from the
grand central depot was a very small
matter and or no consequence to the
New England road caused a slight re-
covery, and was supplemented by a
statement from the New Haven side
that the withdrawal of the New Eng
land trains was mere economic meas
ure. The shares of New England did
not, however, rally materially, and
closed heavy at a decline Oh the day of 8
per cent. A decrease of S64, S26 in the
earnings of the st. Paul road for the
first week in October was made the
point of sharp bear drive in the
shares, which sent them down IL
per cent, the closing being at
recovery of 4 per cent 1t is but nat
ural that the close of the worlds fair
On in foI N+f,,
business of the road, and it was also eX-
pected that the short interest would
take advantage of the fact to depress
the shares temporarily. Sugar was
strong in the early dealings, but suisse
quently gave way under sales, induced
ythe decentralization of the sugar mar
ket- The lower range of prices brought
in good buying. said to be insiders, and
under their purchases a recovery was
made, the closing sale being IL per
cent above the lowest of the
day. Chicago Gas was trife
unsteady during the morning on the
renn-fHd granting of franchise to COM
peil"'s companies, but it received very
ana recovered and advanced 21S per
cent on the day Cordage preferred and
National Cordage preferred rose % per
cent on purchase of 100 shares, selling
at 5415, against SO Oh Nov. 2. The gem
eral market was barely steady in the
morning. but became firm during the
afternoon, and closed strong at recov
cry of 15(@19 per cent from the lowest
point touched. The shares which
now show the greatest decline, COM
pared with yesterdays final sales. are
Lake Shore l, Louisville, New
Albany preferred u, New Jer-
sey Central and Delaware 81 Hud-
son ~, and American Cotton Oil
preferred 8. Wells-Fargo sold at 12O for
hundred share block as against l24 the
last previously recorded sale.
The railway and miscellaneous bond
market was generally strong: st. Paul
firsts, Southwestern division and
Seattle. Lake Shore IL Eastern Trust re-
ceipts advancing 3, Chicago, Burlington
u Quincy sinking fund fives and East
Tennessee cOnsOl fives per cent.
The Total Sales OF Stocks
today were 1880 shares. including:
Atchison, $500; American Cotton Oil,
1900; American Sugar, 17,100; Burling-
ton, 100; Chicago Gas, SO. 400 ;Distillers'
and Cattle Feeders, 1O,50O: New York
& New England, $4,000; Rock Island,
1900; st. Paul, %, 400; silver certificates,
5000 ounces; Western Union, $500.
StOcks-CiOsin%