St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-05-19
CITY MORTGAGES
Negotiated on improved Real
Estate, at Lowest Rates.
E. w. PEET & SON.
anhattan Building.
FINANCIAL
New York.

NEW YORK, May 10. - The stock
speculation today was heavy in tone
during the greater part of the day, al
les, mainly caused by the covering Of
timid shorts. The trend of prices was
downward and the closing figures show
material losses compared with the final
quotations of yesterday. The entire
active list, with the exception of CEN,
eral Electric, shared in the depression
in values, but Sugar was the weakest
stock in the market. A very heavy
pressure 10 sell was developed IN this,
stock at the opening, which came prin-c.
cipally from Washington houses, and
count of those who purchased at lower
figures and were endeavoring to realize
profits Of the advance. The bears also
took hand in the selling, and largely
increased the volume of business.
With some slight rallies the shares &c.
clined gradually until a break of AZ per
cent had been made. A recovery OF "a
per cent followed, with a final
reaction Of g. Sugar preferred de.
clined ~. The heaviness of the
sugar stocks was due to apprehensions
that tie senate investigation would re-
suit to tue injury of the sugar interests,
and might possibly lead to the adoption
OF less favorable tariff for sugars.
Manhattan was heavily sold on rumors
that the rapid transit bill was to be
signed. and dropped ~ per cent TO
l101a, rallying "a in the final trading.
The decline IN wheat was reflected in
the depression i'll the grangerS, which
were disposed of on Chicago orders,
chiefly in 81. Paul and Burlington 4
Quincy. Rock Island also came i'll for
good share OF the selling. making
an early loss of ~ per cent. ST.
Paul tell off l per cent. and Bur-
lington u Quincy, after an advance of
Is, receded per cent. Northwest COM
mon reacted "a and the preferred 2h,
the latter closing at the lowest point
touched. The others of the group re-
covered s9@% per cent at the close. In
sympathy With Sugar. the industrials
were sold down. except General Elec-
trio, which was tirluly held. which at no
time was more than q below yester L.
days closing. and VIII lch gained d on
the day. Tobacco is down ~, CoLlon
Oh ~. Rubber 2lS. Rubber preferred,
!, Consolidated Gas ~ ana Chicago
Gas q. Some of the specialties made
heavy losses OH the day, including Ore
gon Navigation and Richmond pre-
ferred ~; Wheeling and Lake
Erie preferred, ~. The other more NO.
table declines We're: st. Paul u Omaha,
2; Louisville Il Nashville, 156; Erie
preferred, n, and Missouri Pacific,
Louisville & New Albany, Iowa Central
preferred. Cedar Fall, d Minnesota
Loug Island Traction company, l per
cent. The other losses were merely
fractional, except that United States
CordaKe preferred sold at 81, against 40
the last previous sale.
In the final trading the covering OF
short contracts caused recovery on the
general list. and the market closed
tirmer i'll tone than it Was at any olher
time in the day.
The bond market was weak all day,
i'll sympathy with the stock market, the
principal price changes being:
DecilicS-Erie second consoi trust
receipts and Wabash debenture series
b. each 8; do seconds. /; Kansas Pacific
consols, Is; Louisville d Nashville uni
fed IS, and Northern Pacific tirsts, each
~; 81. Louis and San Francisco sec
oius, class Z, and Chicago, st. Louis
and New Orleans gold 5s. n: Tennes-
see. Z. and A, Birmingham division
j hrStS, st. Louis Southwestern seconds,
San Antonio and Arkansas Pass a.,
Richmond Terminal stamped Us, Pitts
burg q Western f., Oregon Short Line
collateral trust IS. Moblle and Ohio IS,
Chicago u Northern Pacific first trust
1, ceipts, and Canada Southern firsts,
each per cent.
Advances-Erie IS extended, 2 per
cent.
The Evening Post says: With tem-
porary ialts, but not much actual rally,
yesterday afternoons decline in STOCKS
continued from louay's opening. Like
yesterdays selling. today was chiefly
short stock, put out locally; Tut in some
quarters there was liquidation. too,
largely originating i'll Chicago. The
heaviest selling came, as before, from
houses with "Washington connections"
Of course the point was made that Sen.
ator Lodges investigating resolution
was The grand CAUSE OF WeakntSs; but
this Is SHY. Inc truth of the sit uatlon