St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-27
II DORIAN. JAMES poRAN.
M. DORIAN & CO.,
Bankers and Brokers,
81 Jackson St.. St. Paul, MINI.

New York.

NEW YORK, Sept. ga new record
was made by Distilling today. that stock
being marked down to 50, the lowest
point touched previously having been
81. One of the leading brokers EN-
ployed by the trust officials in their
operations on the stock exchange was a
heavy seller of the shares in the morn
Ing, and he had a large following
among the room traders, the combined
sales sending the stock down to
0 before noon. The short interest
covered some of their outstanding
contracts at this figure. pos
sibly believing that, as before,
it would bring insiders to the rescue,
and a rally Of q was made; but the re-
covery was merely temporary, and on a
renewal OF the selling a reaction to 50
took place. Good buying was met at
this point, which resulted in a recovery
of 3s, which was subsequently lost, and
the stock closed within Is OF the lowest
point touched. U%ntavorable rumors
regarding the company were current all
day, such as that a receivershIp was
imminent and that President Greenhut
had admitted that no progress was be-
ing made toward adjusting the COM
pany's finances, causing a very uneasy
feeling among the outside holders of
the shares.
The common stock of the American
Sugar Refining company, which has
been gradually moving back toward the
preferred shares, crossed the latter
today, selling down 94T, while the low
est figure reached by the preferred was
941a. Sugar preferred lost Il OH the
dnu md M OF ,unc hid 60. both -
close. Further liquidation took place
today in Reading, which was largely
for the Philadelphia account, and en-
tirely due to the poor reception which
has been accorded the Olcott- Earle
reorganization plan by many holders of
the stock and bonds of the company in
this city as well as abroad. Tie price
broke 2 per cent from last nights final
sale, a recovery Of a being made on the
final dealings, limiting the loss ON the
day TO ~.
The movement in the granger group
was somewhat Irregular; there was
buying for the short account in the
early trading, causing a fractioEal i'm.
proyenent. but during the afternoon
and after delivery o there was sharp
Selling in the shares, with declines from
the top figures OF the morning of Is in
Burlington. e in St. Paul, q Ill Rock
Island and y in Northwest. st. Paul
bottom and Burlington *. Chicago
Gas stands unchanged from yester-
days closing, having %fluctuated within
a limit of q per cent. Gas company
stock eased off rs, rallying 4 at the
close. The Cordage issues were un-
tavorably influenced by the withdrawal
from auction sale of 1880 shares of the
guaranteed stock, supposed to be some
of that which was recently knocked
down at O.. The common stock broke "a
and the preferred ~. while the guar
anteed was offered down to SO, against
the last sale of the board at 60.
In the rest of the list the dealings were
light, and the market was generally
heavy. AtchlsOn lost l per cent. and
recovered q. Cotton Oil preferred is
down 2 Der cent. Pittsburg c. c. & st.
l.. preferred and Erie preferred, *;
Toledo. Ann Arbor. Missouri Pacific
and Chesapeake & Ohio, q. New York
Central rose u on the declaration of
the regular dividend, but lost y. Ma
tional Linseed shows a gain OF l, Gen.
trail Pacific Is and a few other specula-
lions a small traction. Speculation was
weak at the closa.
The bend market was weak all dav
OH a moderate volume OF business, the
sales ~aggregatiug 1898, SOC. The Reading
and AtchisOn issues were most largely
dealt III, and were also the weakest OF
the list. Reading As show a loss of u
per cent; Reading tirsts preferences 81,
Reading seconds 81, and Reading IS
u; Atchison As are off q and Atchison
seconds IS. The other important losses
are: Kansas Pacific ~consOls. 5 per cent:
Pittsburg IL Western ~firsts, 2; Brooklyn
City tirsts and Wabash seconds, IL;
Baltimore g. Ohio IS. Northern Pacific
consol IS, and Toledo. Ann Arbor &
Grand Trunk frsts, /.
Some Of the securities traded in re-
corded advances, including: Lake
Shore second registered and Georgia
Pacific firsts trust receipts, 2 per cent.