St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-11-04
FINANCIAL
New York.

NEW YORK. Nov. 3.-The volume of
business of the stock exchange has
been steadily decreasing during the
week, and to-day's transactions were the
lightest since Saturday last. The mar
ket. too, seems to be lapsing into the
hands of the traders, and the dealings
are characterized by that irregularity
which marks the government of the
purely professional speculative element.
To-day there were spurts of activity
and upward movements, made simply
for the purpose OF getting fresh starting
points for new attacks upon values. At
the opening of the day all the indica-
tons were for strong market; Lou
don buying orders we're quite heavy;
American securities were higher on
the London stock exchange and
there were number of good
Nashville. Chicago, Burlington &
ably affected by reports of increased
net profits for October, and the former
being in better renute by reason Of the
explanations given of the terms Of pur-
chase of the Chesapeake, Ohio d South
western road. During the day the
statements of the st. Paul and the Rock
Island railroads for October were pub
lished. showing increased net earnings
in Both cases. A decline in sterling eX.
change was another favorable item GO
ing to furnish excellent general con-
ditlonS, but the trend of speculation
was bearish. and the tendency of prices
were towards lower level. The oper-
ators for decline were more numerous
"a W
points on their side of the account to
the best advantage. 1t was reported
that the ways and means committee
Of the house had decided to reduce
the duty on sugar, and this was used
as lever to move the shares of the
American Sugar Refining company
down 81 per cent, during which proc
esS large number of shares changed
hands. An Intellectual drive was made
in Distilling on the ground that the
stock of distilled spirits had been re-
duced to point that would prevent the
company from reaping any substantial
benefit from ali increase of tax. Chicago
orders came in 10 sell the grangers, and
there was considerable selling of st.
Paul for Philadelphia account.
The market opened strong, an adj
vance of sol per cent, and further
rise was recorded in the general list of
4 to 13s, while Lackawanna made a
jump of per cent. But the improve
ment was of brief duration, and under
free selling the gains were before noon
entirely lost in all cases, while in some
instances prices had declined below last
nights figures. Shortly after IL o'clock
the pressure to sell was renewed, and
partial recovery took place, the market
continuing fairly firm for per-
hapc about hOur thpn NOW
selling movement was organized. which,
however. was shortly met by some
good buying, which checked the reac-
ton and introduced firm tone into the
dealings once mere, bringing about
recovery, which, at the close, had
reached 15014 per cent. in which Gen
eral Electric, Chicago Gas, Burlington
& Quincy. Denver q Rio Grande pre-
ferred, Rock Island and st. Paul were
most prominent.
The market closed firm, but at prices
B@2B per cent below the closing
figures sof yesterday. the loss in Bal
Canada Southern 15S: Manhattan, Cot
ton OIL. Tobacco and Rubber, l per
cent; Louisville, New Albany pre-
ferred, Pittsburg & Western preferred
and Lead preferred, e; Western
Union and New Jersey Central show
advance of u, Lackawanna II, Bur-
lington & Quincy % per cent. The
railway and miscellaneous bond list was
ire gular, the important changes for the
day being: Advances-Rochester &
Pittsburg firsts. s; Iron Mountain Sec
onds. 4; Northern Pacific firsts regis
tered, 81; East Tennessee consol fives,
~; Erie funding fives, Mobile & Ohio
tours and Illinois Central tours of 1851,
" per cent. Declines-Virginia Mid
land generals. 81; Colorado Midland As,
"a; Reading first preferred incomes
and Forth Worth and Denver City, IS 2.
The Total Sales OF Stocks
today were 301,9OO shares, including:
Atchison. 1860; American Cotton Oil,
1000; American Sugar, 37.400; Burling-
ton & Quincy. 33.S00; Chicago Gas,
23,70O; Chesapeake u Ohio, 1900; Della
ware, Lackawanna 81 Western, 5000;
Distillers, $500; General Electric, 6 900;
Louisville q Nashville, 1850; New
York & New England, 1900; Reaulng,
1850; Rock Island, 1890; st. Paul,
$1,000; Western Union, 29,000.
Stocks-ClOs1ng
Atchison. -. 1y9sI Northern Pacific rs
/