St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-11-14
FINANCIAL.
New York.

NEW YORK, Nov. 13.-The speeula-
ton on the stock exchange was charac-
terized by feverish and unsettled tone,
and the movement of prices was very
irregular. The pressure to sell was at
times decidedly pronounced and was
most pronounced in Sugar. the down
ward movement in which was assisted
by the decline in the price of the raw
material. The market was entirely in
the hands of the room traders with the
bears In control during the greater part
or the day. There was no special reason
for the depreciation i'll values which
was effected save that no very
strong buyers were in the gen.
eral market to absorb the
offerings of the bears. who largely
increased the short interest, making
periodical drives at the leading indus
trials, ST. Paul, Chicago Il Quincy.
Inc latter was sold up on reports of
differences of opinion among the dlrec-
tors as to the advisability of declaring
the regular quarterly dividend in view
OF the rumored falling off in earnings.
st. Paul did not yield appreciably to the
bear attack, nor did 1t ndvance mater
tally to late cOrnering movement. An
order to sell some 1900 shares of North
west sent that stock down very nearly
two points. Mail advices from London
were received giving expression to the
dissatisfaction of the foreign share
holders at the action of the Louisville
d Nashville directors in acquiring the
st. Louis Southwestern road, but it had
no practical effect on the value of
shares.
London was not factor in the deal
ings, appearing in the market as small
seller of Louisville & Nashville and
buying small lots of st. Paul and At
Gibson. There was some Western SELL
Ing OF Chicago Gas, and Boston sold
General Electric and BURLINGTON IL
Quincy. New England was strength
ened by reports that the company had
entered into traffic arrangement with
the New York, Susquehanna & Western
railroad for the transportation of coal
by way OF POughkeepSie bridge. The
president of the last named Company
denied that any such agreement had
been reached, but would not say that
negotiations were not pending with the
New England people.
AT the opening of business a heavy
tone prevailed, and the first prices re-
corded were down 4 to l per cent. In
the early dealings further decline of
8@4 per cent took place. Sugar and
Chicago Gas were most prominent.
Then came a rally of 15@14c in the
general list, in which the same two
stocks were leaders. New England,
which had opened 4 per cent higher
and reacted q, rose 1s5, while Man
haitian fell off 213 per cent. Soon after
IL o'clock Sugar was subjected to a
severe raid, dropping off 311s, and the
rest of the market I0215 per cent,
Delaware, Lackawauna, Tobacco. Chi
cago Gas, Northwest, Burlington d
Quincy, Illinois Central and Dis
tilling being also prominent in
the downward movement. During
the first part of the afternoon
there was some good buying at the
lower quotations, and partial rally
took place, but the improvement was
temporary, and in the last hour deDres-
sion again prevailed, the market closing
weak at decline compared with the
final sales of Saturday ranging from 4
to II per cent, the latter in Lackawan-
ma, 81 III Sugar, u Sugar preferred,
Pa i'll Manhattan and Tobacco, ~ in
Illinois Central. ~ in Northwest and
Chicago Gas, 158 in Burlington IL
Quincy, and per cent in Pacific Mail,
c., C., c. IL St.Louis, Lead and Rubber.
Some few shares recorded an advance
on the days transactions, including
Nashville. Chattanooga; Wells Fargo,
6; New England, ~, and Susquehanna
IL Western preferred, Michigan Central
and O., c., q. IL st. l.. preferred l per
cent.
The railway and miscellaneous bond
market was some what Irregular, but on
the main firm. The leading changes,
compared with the last recorded sales,
are: AdVanceS-MisSOuri Pacific flrstS
consols 10 per cent, the last previous
sale having been made on Oct. 20; Den
yer d Rio Grande tiveS, q; Erie funding
lives, 81; Union Pacific, Denver 4
Gulf tirsts, 3; Little Rock Il Memphis
firsts and Milwaukee & st. Louis equip
ment SKIES, 5 per cent, and st. Paul d
Omaha consols, East Tennessee fives,
consols, and Louisville, New Albany
conSolS, IL.
Decines-Cedar Rapids & Iowa F. &
N. hves, 10; General Electric debent-
ure tives, 6; st. Paul. Minneapolis IL
Manitoba tirStS, extension Minnesota
division. So. and Baltimore d Ohio,
Parkersburg branch, trsts, per cent.
The Total Sales of Stocks
today were 246,3OO shares. including:
American Cotton Oil, 5000; American
Sugar, 6.600; Burlington d Quincy, 49,
400; Chicago Gas, &c, 700; Distillers and
Cattle Feeders. $500; General Electric,
$500; New York IL New England, 49,
400; New York, S. d W., 3.40O; North
western. AGO; Reading, 233OO; St.
Paul, "a, TOO; Union Pacific, $500; West
ern Umon,6,900.
StOcks-CIOsing
Atchison. ... lS5sINorthern Pacific.
Adams Express. .145 n. Pacific pfd . 2134