St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-05-03
FINANCIAL.
New York.

NEW YORK. May Emancipation of
large gold Shipments by Saturdays
steamer had depressing influence ON
the stock exchange today. The
action of the old bondholders' commit
tee i'll Reading looking 10 foreclosure
of the general mortgage and the forma-
tion of new committee for the same
ment OF the speculative situation, mas
much as 1t postpOnes Indefinitely the
REORGANIZATION Of the company. and will
probably result iii the oisintegration OF
the Reading system. Another un-
settling factor was the uncertainty
which :, prevails .. as to- sr whether
the Erie reorganization plan IS to- be
modified, conferences being in progress
between the respective counsel for the
Hartman COMMITTEES which opposes
the plan and for the Morgan committee
which prepared it. The bulk of the
dealings was in the industrIals. and
Sugar. Lead, Chicago. Gas, Distilling,
General Electric, Tobacco and COrdagp
named, while of the railway list, Read
ing. Chicago Burlington dS Quincy, st,
Paul and Missouri Pacific were stocks
which showed activity. At the opening
a fairly fair tone prevailed generally,
Sugar being an exception, opening "a
lower and quickly losing an additional
q. The rest of the market became
heavy in sympathy and general break
TOOK place. ranging up tO11a. the latter
in COrdage preferred and common,
Louisville & Nashville, Reading and
Northern Pacific preferred being also
prominent in the decline. The lower
figures induced covering of short con-
tracts in the industrials. causing these
shares to take an upward turn. but
bringing noimprovementi In the railway
list. After midday the last-named stocks
advanced fractiOnally, but the rise was
checked by attacks on Lead and General
Electric, the bull pools in which were
endeavoring to liquidate OH the strength
displayed by this group Of stocks. Lead
so!d down per cent, and General Elec-
trio fell off ~, in the face OF report
that 1t had won an important patent suit,
which would ordinarily have been good
for substantial advance. The denials
OF reports in circulation for the past few
days that dividend on Lead would be
declared Saturday helped to depress that
stock. The market was dull and without
Important feature during the middle of
the afternoon. but after delivery hour,
Sugar, which had been steadily gaining
since morning, came into heavy de-
mand and rose sharply to 1905. an adj
vance OF "a from the lowest point
touched in the early dealings, closing
within Is of the top and / per cent
higher OIL the day. the preferred also
gaining per cent. The rest Of the
market shared in tbs Improvement to a
greater or less extent. and the market
closed strong, but in THE main at prices
below yesterday. Chicago Gas and Man
haitian, however, showing an advance
o %, Missouri Pacific ~, Tennessee
Coal and Iron and ST. Paul, Minneap-
oils & Manitoba 2 per cent. The rest of
the list all show declines, those of per
cent and over being: Reading and Dem
Yer Il Rio Grande, i; Louisville 4 Nash
Vile and General Electric, ~; Cefdage
pre- ferred and Consolidated Gas, II,
.as,d Tennessee Coal and Iron preferred,
81.
he bond market was weak during
the greater part of the day, the princi-
pal changes being:
Declines = Union Pacific collateral
trust AS. 4; do Delaware Il Gulf -tirsts
and Ohio Southern firsts, each ";
Louisville & Nashville IS, 15S; Chicago
and Northern Pacific trust firsts, Bur-
lington (l0wa divisiopy As. Colorado Mid
Hand As. Laclede Gas and Mobile & Ohio
~. each per cent.
{ Advances : Pennsylvania AS. IL;
Colorado Coal and Iron firsts. Denver u
Rio Grande tirsts, Fort Worth IL Rio
Grande tirsts, Missouri Pacific consols,
Norfolk u Western New River tirsts,
Northern Pacific terminal firsts and
Pittsburg, each l per cent. Oregon
Short Line Is. declined per cent and
recovered the loss. Reading firsts pre-
ferred sold Oft 2, butrecoyered l.
The Total Sales OF Stocks
to-day were lss5oo shares, including:
American Tobacco. 5000; American
Sugar. 40.400; Burlington, 1890; Chi
cag0 Gas, l6,6U0; Disabling and Cattle
Feeding. 1880; General Electric, 6.5UO;
Missouri Pacific, $500; National LEAD.
%, 7G0; National Cordage. 1900; Read
Ing, rs, 100; st. Paul. 9.7O0. Bank clear
ings, Sis, 709. l46: balances, 1851. 4U2.
Chicago Money and Stocks.
CHICAGO. May 2-ClearIngs, $40. OCO,-
600. New York exchange. par. Steri-
ing exchange quiet. Actual, $4STI@
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