St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-11-23
FINANCIAL.
New York.

NEW YORK, Nov. 22.-The volume
Of business on the stock exchange today
was larger than yesterday, and was
better distributed throughout the list.
The commission houses had good buying
orders, not alone in the active stocks,
but also in the shares which which are
usually dormant, and London was a
purchaser of st. Paul. Atchison and
Union Pacific. Bat the market was
not as steady as yesterday, although
prices generally show an advance on
the days transactions. There was no
disturbing influence, and the air was
remarkably cleaI of unfavorable ru-
morS, but there was q very palpa bic
desire to take a part at least of the
profits Of yesterdays advance, and cotF4
sequently the tone of tile specula-
tion was unsettled. The publication of
the report of the reorganization
committee of the National Cordage COM
pany caused drop of per cent in the
shares at the opening. which was quick
ly followed by an advance of 3 per cent,
a reaction of ~ and a recovery of q
per cent, making a net loss of = per
cent. From this it IS to be judged that
the opinions as to the condition of the
company as evidenced by the report are
conflicting. The main weak spot in the
market was General Electric, in which
there was pronounced pressure to sell
during the last hour Of business, open
Ing at an advance of IS per cent, the
shares began their downward course in
the very first dealings, and reached the
bottom only just before the close. when
decline of per cent were recorded, the
last Sal9 being at a recovery of Is per
cent. The only explanation offered for
the break is that the pool had selected a
fairly strong general market npon which
to liquidate its holdings.
Sugar, which was most largely dealt
in, was rather erratic in its movements,
declining ~ per cent in the early
transactions, then selling up ~, react
ing n, rallying IS, and recedng II at
the close. making loss of 8 per cent
on the day. Reports were current that
a prominent bear operator was cover
ing large line, but the room traders
were out for their profits, and sellers
were more numerous than buyers.
The general market was strong at the
opening, and prices were SOL per cent
| higher, but realizing sales quickly
| changed the temper of speculation,
| causing a slight reaction. Before any
| serious losses were made number of
| buying orders, some of them from the
| West, came in, which sent the figures
up again, some usually inactive being
most prominent in the rise, such as Chi
cago d Eastern Illinois. which sold up
| ~, and Laclede Gas preferred 2% per
cent, the active list advanced 1s@l5
| per cent, the grangerS being in the van.
| Subsequently a renewal of the profit
saking deprecated values fraction, but
( by noon the market had recovered it.
self. and under steady buying the gen.
| eral list made an advance of 1S04 per
| cent; New York, Lackawanna Il West
ern 8, Alton & Terre Haute %, and
Delaware & Hudson Is per cent. Dur
! ing the last half hour the market was
heavy, and the final dealings were made
at a reaction of A@2H per cent, the
latter in Cotton Oil common, which
loses rs per cent on the day, while the
preferred gains 2 per cent. Although
the market closed with prices on the
downward track, this tendency was
due only TO efforts to realize, and COM
pared with yesterdays closing. the final
| sales were ut higher prices for major
| ity Of the shares traded i'll. the range
| being I@23S per cent. and the leaders
| Laclede Gas preferred, Alton and Terre
| Haute, Delaware d Hudson. Manhattan,
| New York, Chicago & ST. Louis second
preferred, New York, Lackawanna d
! Western, and Chicago & Eastern Hi
nois.
The railway and miscellaneous bond
market was very strong and extremely
active. the dealings covering line of
! securities which have not appeared in
the transactions for many months.
The glut of money in the banks
and other financial corporations
has attracted attention to the
| mort SppurjtipS tn q marked dp-
gree. Norfolk " Southern frsts sold at
1U2 against 80 on Sept. 90; Kansas City
q Pacific tirsts and PittsburE. Cincn-
natl, Chicago II ST Louis AZ (Ak gained
81: Iowa Central firsts and Cairo, Ar
kansas d Texas first, 215; Rio Grande
| Western firsts, Galveston, Harrisburg
& San Antonio skies, Kansas u Texas
4s and Peoples Gas of Chicago seconds.
and Kansas Pacific consols, 2H per