St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-10-11
FINANCIAL
New York.

OH the stock exchange today was char
acteriZed by an increase of activity, and
the transactions were in heavier volume
than for week past but there was
nothing healthy in the tone of the mar
ket, and the movement of prices was
not concerted. The dealings were
spasmodic, and while good buying was
IN progress in one pool, there was brisk
selling in another. AT the opening of the
settled, the first sales showing fluctua-
tons both up and down. Louisville &
Nashville making a break of IL
per cent, followed by recov-
cry of g per cent to ASK
then reacting to 433s, rallylng to
Az, and closing at 435s, a decline of
375 per cent on the day. While there
was some selling of this stock for Lon
don account. the sales were mainly by
local bears, and were based in the new
issue of shares, there being no other
known untavorable influences. During
the early morning the most of the mar
ket moved upward, the industrials tax
ing the lead, but the raid on Louisville
had the effect of gradually depressing
the entire list, and before II o'clock a
reaction had set in which carried prices
down fraction. This was followed by
rally, which was quickly succeeded by
another downward movement, which ran
through the afternoon the prevailing
tendency being toward lower figures,
and the close was decidedly heavy,
prices compared with yesterdays final
sales being at decline in the active list
ranging from 14@3H per cent, the ex-
ceptions being whisky. Northwest and
sugar common and preferred, which
show an advance OH the day of sl@1 per
cent. As noted before Louisville &
Nashville led in the downward move
ment, Evansville & Terre Haute fol-
lowing with drop OF ~ per cent
Selling orders from Boston for Union
Pacific led to the revival of rumors of
all impending receivership for that
company, and raid was made on
the shares sending them down
1875 at the close yesterday to
10 at the close today, loss of 25S per
cent. Missouri Pacific was also weak
and closed at decline of ~. Reading
Quincy and General Electric II, North
west q, Chicago Gas, Atchison, Balti-
more Il Ohio and Rock Island 81 and
st. Paul Is per cent. EXCEPTIONS to the
general weakness were some of the
usually inactive shares. American To-
bacco preferred recording an advance
on the day of 1ss, American Cattle and
st. Paul, Minneapolis & Manitoba II,
Pullman l1s, and Consolidated Gas
per cent. The railway and miscel-
laneous bond market was very irregular
and without settled tone. Missouri
Pacific first consul 6's. which on Sept.
sale. decline of 1873 per cent. De-
troit Union Gas consul IS sold at 43, an
advance of 8 per cent from Sept. 90,
when sale was effected at IS. Chesa-
peake & Ohio Southwestern Is advanced
9, Milwaukee & Northern Is of 1918, 81,
Oregon improvement Is 4, st. Paul d
Omaha consuls and Chicago, Burling-
on 6 Quincy. Iowa division IS, ~; do
debenture IS, New York, Lackawanna
q Western Is and General Electric de-
bentures 5s, 2; Union Pacific, Denver &
Gulf Is and Duluth South Shore 2.
The Post says; Last winter gold
went out at the rate of three to four
millions week, and as the most OF this,
by the use of treasury notes, was taken
from the treasury. the governments
gold reserve fell s25,000,00O within six
months. Without gold exports the fed
eral gold re serve is not shrinking at
rate not far from a million dollars a
day. The reason for this more rapid
fall Is that the government has now
practically no working surplus, except
of gold. There are some factors dis
tinctly in the treasury's favor. One is
the very slack demand for currency to
move the crops, Western monetary CEN
tiers being DOW we'll supplied, as a re-
suit of the direct gold imports. Some
of the observers at Washington think,
too, that pension expenditures have
reached a maximum, and will hence
forth decrease. But it would need con-
traction in expenses much greater than
this to offset the enormous and contin-
uous shrinkage in customs and internal
revenue.
Total Sales of Stocks
today were 197,2O0 shares, including:
Atchison, $500; American Sugar. A.
500; Burlington & Quincy, 5000; Chica-
go Gas, 12.7O0; Distillers, 26.5O0; Gen
eral Electric, $500; Louisville & Nash
vile, $4,000; sMissouri Pacific, 1900;
Northwest, $500: Reading, 1920; Rock
Island, 1890; st. Paul, 1850; Union
Pacific, IL, 100; Western Union, 3,7OO.
StOcks-C1osfng.