St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-31
FISANCEAL.
New York.

New YORK, Aug. 30.-That there is a
well-concerted plan to lower values on
the stock exchange is evident from the
attacks being made daily from different
points and from sources which do not
ordinarily afford aid or comfort to the
bear side of the market. That there is
strong undertone to the speculation
and strong recuperative power is also
apparent. A bear raid was started
right at the opening, of which Sugar
and the grangers were the chief objects
of attack. An interview with the gen.
eral managers of the Northwest road
was telegraphed from Chicago very op-
portunely, and made the official say
that the "outlook for business in the
West for the coming year is bad, very
bad"
The decline which resulted was
checked by good buying for the London
account and the scarcity of floating
stock, and the short interest took alarm
with the result of forcing them to cover
some of their short contracts. This
led to recovery, followed, however,
about II o'clock by reaction which
did not exceed fraction except in a
few of the speclalties. Speculation had
recovered its tone before midday, and
an upward movement was lnaugurated
which was continued until near
O'Clock. Shortly before that hour heavy
blocks Of Sugar were put on the market
at the same time that report was be-
ing circulated to the effect that
refined sugar could be imported
under the new tariff at lower
rates by means of authorizations. The
stock broke ~ per cent to LOG, and the
general market reacted fraction on
sympathy. Sugar did not remain long
NJ 4
buying induced by the decline, rose 21l
per t,Only 10 give way suddenly On
renewal of the selling, in the final trad
ing dropping per cent aud closing at a
rally Of Is. but 4 lower than the last
sale OF yesterday; the preferred gained
81 on the day. In the late dealings the
general list was in good tone, made some
advances and closed firm. The more
material advances compared with the
final figures OF yesterday were: Pitts
burg, G. G. d st. J.. preferred and
| Tobacco, u; New England ctfs., Man.
haitian and Lead preferred. II; Louis
vile and Nashville, rs: Baltimore &
| Ohio and Pittsbnrg Z. c. d st. L., l:
Union Pacific, Reading and Lake Erie
| IL Western preferred, q, and Southern
| Railway. Atcnison and Oregon Naviga-
| ton. a. Some shares declined on the day.
including MINI. & st. l.. preferred,
~; Pacific Mail and Louisville, New
Albany, L; Laclede Gas. a, and
| Tobacco preferred, Consolidated Gas.
Cordage and Susquehanna & Western
preferred, q.
| The bond market was generally
strong all day, and good business was
done in the leading issues. The total
| sales were Sl.62S. 500. The Atchison
| issues were most prominent in the dead
| ings. The fours declined TO 7l%,
| but recovered TO 72%, closing at the
| best. The seconds receded TX and raj
| lied1. The Reading issues were also
J active and recorded advances of IL for
the general 4s, 2; first preferences, 136:
do seconds, aud do 3ds. The other
advances of note were: Northern Pa
| cific terminal lists 3; Erie second consbl
trust receipts, ~; Manhattan Beach
Hotel A., 2; East Tennessee Con. IS and
| Union Pacific sinking fund IS, az;
Louisville, Evansville u st. Louis con-
sol IS. IL.
The Total sales of Stocks
today were 2O7,704 shares, including
| American tobacco, 3,7OO; Atchison'
| 1900; American Sugar, $500; Burning
ton. IL, loo; Chicago Gas, Z, 800; Distillers
| and Cattle Feeders. 1880; General Elec-
trio, 4.5UO; Louisville & Nashville.
| 11,400; Reading. 400; Rock Island,
$500: st. Paul, 32,400; Western Union,
| 3 800