St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-27
FINANCIAL.
New York.

NEW DIX, Jan. 3D. he SCOch mar
ket was dull again today, and the spec
ulatiOn was unsettled. At the opening
a strong tone prevailed, and the first
gprices matte were asmall fraction higher
than The closing figures of yesterday.
The firmneSs of this market was partly
due TO the Improvement in American
securities in the London exchange and
to purchases for the foreign account.
The room traders were bull during the
early dealings, but on occasional reaIiz-
ing sales the market made fractional
reactions. Still the trend of the specu-
lation was toward higher values. and
before noon all advance had been re-
corded OF 4 to 2115 per cent, the latter
for Sugar. A good buying movement
was developed in this stock, it be-
ing very generally believed that
the attachment of the income bill
as rider to the tariff bill
seals the doom of that measure, which
Of course would be worth good many
points to the Sugar stocks. Although
London was a buyer of st. Paul, that
stock did not gaia more than "a. ana
The greatest advance in any other OF the
grangerS was l per cent i'll Northwest
on purchases taken TO be for the account
of insiders; Missouri Pacific rose | x,
and the point was given out that earn
ingS of the road are beginning To snow
signs of an improving tendency. While
at no time during the earlier hours was
the market active, the speculation
iapSed into dizziness before noon,
becoming stagnant and making no
important movement except Ill one or
two of the SpecialtieS until about 2
O'Clock. AT this time Washington adj
vices were received announcing that the
judiciary committee of the house had
reported a resolution questioning the
right of the secretary OF the treasury
10 issue bonds as proposed by his recent
circular. As the loan was accepted as
q factor toward increasing speculative
values, the suggestion coming from this
quarter that the government would eX-
ceed its powers in making the issue was
made the basis for drive at the mar
ket, which gave way all along the line,
certain of the specialtleS leading the
| downward movement. The decline in
! the active list ranged from 4 to IA,
| the latter i'll Western Union.
which was sold in heavy blocks,
! the professional operators being
very beariSh on the stock, but without
! diSpoSing anything unfav0rabie to the
property. Delaware, Lackawanna &
Western was exceptionally strong on its
annual statement, which showed net
profits of over II per cent. against less
Than 10 per cent the previous year. The
! stock made an advance of per cent,
which it held to the close. American
! Cotton Oil was weak on reported bad
! trade prospects. the common breaking
! ~, and the preferred l per cent, with a
subsequent rally OF q in the common.
! In the final dealings there was partial
| recovery of small fraction, but many
| shares remained at the lowest point
! touched, and the market closed irregu-
| lar and unsettled. Sugar common lost
portion of the early advance, but
gained u on the day, the preferred
| showing All equal advance.
Buffalo, Rochester IL PittSburg sold
up from 20 to "a. st. Paul, Minnesota
| q Manitoba and u. s. Express made a
| gain of per cent. Consolidated Gus
| has declined II and Great Northern pfd
per cent. Western Union loses only
| q per cent on the day. Railway and
miscellaneous bond market was strong
anu active until late in the afternoon,
when, sympathizing with the share
speculation, a reaction took place, but
the market rallied quickly and closed
fIrm. Tue leading changes are:
MISUNDERSTANDING & NOrLuWeSCern
sinking fund debenture IS of 1883, ~ (;
st. Louis d San Francisco general IS,
| 20; Richmond IL Danville trust re-
ceipts IS and Peoria. Decatur & Evans
| Vile Is each, 2.
Declines : Seattle. Lake Shore &
Eastern lists trust receipts, g
! The Evening Post says: There was
All advance in the stock market prices
at this mornings opening, in spite of
! yesterdays depressing close. This re-
i covery was due as usual to the efforts of
"A professional clique operating first
| through London. 1t was based osten-
sibfy on the theory that since the in
come tax has been Incorporated with