St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-30
G. ERNST & Co
Investment Bankers. ~
Dealers in Ffrst-CIasS =
Bonds, Bank Stocks and E,f
Commercial Papers.
Money to Loan in Large Amounts.
-OFFICES-
Germania Bank Bldg, and Temple Courts
ST. Paul. Minneapolis
FINANCIAL.
New York.

New YORK, Aug. 29.-The downward
movement on the stock exchange re-
ceiyed fresh impetus-today by reason of
the publication of the discouraging
statements made by President Cable, of
the Rock Island Railway company, in
an interview held in Chicago yesterday.
The bears used the ammunition thus
supplied to them, and raided Rock ISL
and, the other grangers, and, in fact.
forcing prices dawn materially, Rock
Island selling off ~; Burlington &
Quincy, ~; st. Paul, q; Northwest,
"a: Missouri Pacific, II; Manhattan, 2;
Michigan Central, II; Wheeling &
Lake Erie preferred. ~; SusQuehanna
& Western preferred. ", and New YORK
Central, rs. The industrials were also
very heavy, notably Sugar. which was
sold heavily oil reports that the tariff
was not so favorable to the rest of as
had been represented. The selling OF
this stock was largely by brokers who
had been buyers for clique during the
recent advance, and consequently was
believed TO be Oh the liquidation of
holdings acquired at figures lower than
current rates. A break of 80 per cent
to 1878 was effected before 1 o'clock
During the afternoon a rally TO lOS15
was made, followed by reaction TO
| 1879 and a final rally of II, the de-
cline on the day being 81 per
! cent. The preferred fell off 155
per cent. The other Industrial
shares shared in the deprcs-
sion. DiStilling, which had lost its tenn
| porarY leadership of the speculation,
was modest In the movements today,
receding g and advancing "a on the
early trading, and then declining per
cent. Chicago Gas fell off ~; General
Electric. ~; Cotton Oil. l: Tobacco.
~; Cordage, "; Cordage. preferred, 2;
U. 5. Leather, preferred, Ia, and Ma
tional Starch, first preferred, 2 per cent.
DiSquieting reports of the failure of
business 10 respond to the settlement of
the tariff question was a factor in the
! depreciation in values, and the sugges-
ton that the fight be renewed next De-
! cember did not help the situation.
The greatest depression was eXperi.
! enced shortly before 10 O'Clock, and
! thereafter there was an occasional rally,
in which some shares recovered the
greater part of the earlier losses, while
III some Instances advances were made
upon yesterdays final sales. In the
| final dealings fairly healthy tone pre-
vailed, and the market closed steady to
hrul. The more important declines on
the day being: Sugar, 81; Sugar pre-
ferred, l55; General Electric, Ia; Bur
lington Il Quincy and Leather preferred,
! 1ss; Cordage, 2; Michigan Central, l Il !;
National Starch, first preferred, and
Manhattan, 2; Rubber preferred,-I
Lake Erie and Western preferred
and Tobacco, Is, and Chicago Gas. New
Jersey Central, Susquehanna preferred,
Cordage common and Wheeling & Lake
Erie preferred %. Advances were re-
corded of 3 per cent in American Dis
tilling telegraph, 2% In Ohio Southern,
rs in Quicksilver preferred, ~ in New
York IL New Haven, and per cent
Evansville Il Terre Haule. The bond
market was fairly active and steady.
The transactions aggregated Sl,155, 50O.a
The principal declines were: Evansville;
d Terre Haute tirsts. 2sl; Erie first
consol. gold Il. Erie second conSol trust
receipts, and Peoria, Decatur IL Evans
vile firstS, per cent; Peoria, Decatur
d Evansville, Evansville division. /.
Reading first preference, l X; Reading
seconds, rs; New York. Chicago IL ST.
Louis Is registered, Richmond d Dan
vile consols 6s, and Richmond 81 Dan-
vile cOnsos stamped IS. per cent.
Advances PittSburg IL Western
bentures IS and st. Louis Il San Fran
cisco general Is, II, and Houston d
Texas Central IS and Manhattan rail-
way consol tours. /; Louisville 81 Nash.
Vile. New Orleans " Mobile seconds
sold at Ito, against 100 on Aug. II.
The Total Sales of stocks
today were pa, 139 shares, including
American } obaccb, 4,47O; American,
Sugar, 81, 1917; Burlington IL Quincy,
%. 440; Chicago Gas, lO.250; DisIilIinv.
IL, $50; General Electric, lU.u0l; Louis
vile & Nashville, S.O35; Missouri Pa
cltic, 1870; Northern Pacific preferred.
1850; X. Il W. p. cf;s.. 9th asst. paid
$3.50; r. l., s,22O; ST. Paul, $500:
Gordage company, S.lSss Western