St. Paul daily globe., 1894-02-04
FINANCIAL.
New York.

NEW YORK, Feb. 3.-The speculation
was fairly active for a Saturday, and
during the two hours Of business today
the sales aggregated within 10000
shares of the transactions made during
five hours yesterday. Two-thlrds of the
business was, however, done in the in-
dustrials, st. Paul and Western Union
being the only other stocks in which the
trading was even moderately active.
Sugar led in the dealings. a brisk buy
ing movement being developed in the
stock at the opening, under the influence
of which prices advanced, with only an
occasional fractional reaction, almost to
the close, the last sale being within "a
percent Of the highest point touched,
aud 2ss above yesterdays closing fig
ures. The purchases of Sugar were
largely for the short account, but
some good blocks were also bought for
the long account, and it is said by in
siders, the point" being given out, that
Sugar has seen its worst and is bound to
improve. Lead shares were also in de-
mand and made gains of IL per cent in
both common and preferred. The fail
ure OF the passage of the Wilson bilT to
break the Industries affected thereby
has given to Sugar and Lead strength
which has made the short interest very
cautious in their dealings in them. St.
Paul lost ID per cent in the early deal
ings on the report that the fourth week
OF January earnings would show an eX-
traordinary decrease; when the official
statement was published showing the
decrease to be much less than was ex-
pected. rally of g took place. Chicago
Gas rose % on Western buying, but later
lf,ot =
within range of 11s per cent, gaining "A
on the day. The general market
opened firm and shade higher, but
was very dull and gradually became
depressed. Shortly before IL O'Clock an
almost complete recovery took place
and the speculation continued to the
close. The latest prices made are ir-
regular compared with yesterday, but
the changes are mainly fractional. Con-
solidated Gas and New York, Chicago
q st. Louis are up l per cent. and these
are the only shares not already men
toned in which the advances reach be-
yond fraction. Delaware, Lacka-
wanna q Western, Manhattan and Ore
gon Short Line show decline of l per
cent. The changes on the week are
less violent than usual.
The principal gains are Lead pre-
ferred. 5A; do common, 3ss; Delaware
& Hudson, SIS; Erie preferred, AZ:
New York, Chicago s. st. Louis first
preferred, do second preferred, Grub
ber preferred, 2%; c., c., G. & st. L..
24, and Lake Shore, Michigan Central,
B. & o. and SusQuehanna & Western
preferred, per cent The leading de-
clines are Laclede Gas preferred, 2L:
D.. l.. & w., 31s, and Toledo & Ohio
Central anG Evansville & Terre Haute,
2 per cent.
The bond market was Irregular, but
generally firmer, st. Louis 81 San
Francisco consol fours, Louisville &
New Albany eonsols and Louisiana q
Missouri River tirsts advancing Ok;
burlington & Quincy, Denver division,
fours, rs; do Nebraska division and
Union Pacific gold skies, collateral
trust notes, per cent; Kansas Pacific
consOls, Union Pacific, Denver & Gulf
firsts and Chesapeake & OHIO, r. and A.
division, second consols declined l per
cent; Delaware d Hudson tirsts, Penn
sylvania division, sold at 142. against
135 on Oct. L; Louisville & Nashville
sold at %, against 100 on Nov 81. The
movement for the week has been chiefly
toward higher prices. Northern Pacific
Delaware q Hudson, Pennsylvania di-
vision, fists. and Spokane IL Palouse
firsts, z per cent; Union Pacific COL
lateral trust gold skies, 8; Kansas Pa
cific, Denver division. assented so:
Michigan Central fiveS of 1902, 6; Long
Dock skies, 4, and Housatonic fiyes and
Detroit, M. q Nj. land grants, 8 per
cent.
The Evening Post says: Except for
the industrial stocks, the market to-
day was completely apathetic. The
lndustrials were notably strong, the
explanation of which is easy. Some
spectators have been selling Sugar,
and Lead certificates. in particular, on
the belief that every successive step
towards the Wilson bilPs enactment
would be followed by stock liquidation
and general wreck. When neither
catastrophe followed the vote of Thurs
day, only one course was left. They
have adopted this course. with great
agility. and today the price of Sugar
stock advanced on their covering pur-
chases 23s points. There was hardly
any other feature elsewhere i'm the
market, aud net changes were slight.
The understone, however, continued
firm.