St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-02
FIN ANCIAE.
New X,,f,FI

NEW YORK. Aug. 1.--Wall Street
There was decidedly improved feel
lng on tile stock exchange and IN finan-
cal circles generally this morning.
owing chiefly to the nne Xppctpdh heavy
engagements OF gold III London and on
the continent for shipment to this side.
These, together with the scarcity of
stocks for delivery purposes, the lower
rates for money on call aud the heavy
exports of grain, induced purchases
OF stocks for both Inc long and
short accounts. The bears found it
difficult to cover, and the result was
sharp advance. American Tobacco
rose 10 90; Manhattan, ) TO 1863: Gen
eral electric, SO to 1885; Sugar, 81 to
is; American Cotton OllS, 335 to $685.
Big Four, % To 3l15; Burlington IL
Quincy, 2l5 10 "A; Chicago Gas. 10 10
AZ; LackaWanna. 81 to 1881; Della
ware " Hudson, 215 to 1903; Lake Shore.
% TO 1l01e: Lead pre- erred, 2 to IS:
New j "v Central. ~ to 9Ol5. and
Western Union. 333S to 751l.
DuiinE the a!I;-I,,Uun t..c bears raided
the market on the Cudahy failure and
repoi is of probable further embarrass-
mrmts In Chicago tomorrow. The list
was severely hammered, and decline
of l to ~ ensued. There was no eX-
Nv 'iN'its hb"N VNis anu Il!F uNdllIGS
were on comparatively small scale.
Manhattan Tell 81 TO 1865, American
Cotton OIL 33s 20 IS, Burlington d
Quincy 2$5 to 7155, Chicago Gas 81 to
40, 81. Paul rs to 500, Rock Island TX
to $40, Lackawanna 215 10 l31, Dis
tillers' 256 to II, General Electric 3s5 to
al. and Western II ion 24 - 73t[.
Speculation left off steady in tone.
h'iiiiudu o'Il'tH opeiI''u II, ~, D..t alter
wards weakened IN sympathy with the
decline in stocks. The sales were
S959.O00. American dock 5s fell 3sI to
l0U4; Burlington. Cedar Rapids IL
Northern IS, TO 81; Chicago IL Erie
lists. 2 to 81; Lehigh Valley of New
York lists. ~ 10 9519; Milwaukee. q
Northern lists of 1918. TO 105; Mutual
Union sinking funds 6s. 4 to lO2: Jersey
Central 5s, 212 10 1902; Northern Pacific
DDS, 619 to 100: Ohio Southern Is. 8 to
AZ; Richmond d Danvilie 5S, to 70: st.
Paul first gold Is, so to 11716; Manitoba
Isis, 5 to los; Union Elevated Isis, 4 to
los.
Erie consol seconds rose 3 to 6l15:
General Electric dehrnture IS, 8 TO Ga:
Oregon Improvement 5S. 81 to 4O1%:
81. Louis IL San Francisco, class B, 3 To
l04: st. Louis u San Francisco; class C.
3 to 104; 81. Louis Southwestern sec
OUuS, 10 ID.
NEW YORK, Aug. 1.-The Post saws:
But Wall street reflects the future even
more faithfully than it reflects the pres
emf, and the possibilities OF a future
and radical alteration in conditions are
now very close to US. The gold under
way to us from London, Including to-
days announced engagements, now eX-
ceedS S7.00,000, and the Bank of Eng
land is freely selling to importers the
American gold coin 1t took from us last
winter. Chicago's banks, following
thelw sc example of the New York in
stitulious, have combined to forward
low-priced grain to England against
direct gold importatIons, precise
ly as our bankers last week
started the movement by the
forwarding of low-priced stocks. So
tangible and certain measure of relief
could hardly fail. in the nature of
things, to force retreat among the
spectators for the decline. The heavy
premiums again enacted today for the
loan OF stocks rendered such action
necessary. Aside from this, the gather
ing of congress next Monday and the
expectation of vigorous message from
the president, leave far wider lspecula-
ton as to change in the panic senti-
ment. This general distrnst expressed
among larger capitalists by holding
back from investments and among
small depositors by the locking up of
money, always ends as it begins, with a
stampede.