St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-06-17
FINANCIAL.
New York.

New YORK, June 16.-The spirit of
speculation was not very highly de-
vel0ped on the stock exchange today:
many of the leading operators were
away from the street; the arbitrage
houses were out of the market. and the
room traders were not disposed to do
business. Most of the trading was done
by shorts who desired to close out their
outstanding contracts. and by small
holders of long stocks who were anxious
to take profits. Consequently there
was no pressure to sell. and the buying
was feeble and spasmodic. The total
transactions were less than 1000 shares.
and only i'll three stocks were the sales
more than 5000 shares, Sugar alone eX-
ceeding 5000. Prices moved slug
gishly and irregularly. with periods
of absolute cessation of bust
ness. The opening quotations
were generally small fraction higher,
Sugar showing the greatest improve
ment, recording an advance of Is per
cent, and Immediately moving up an
additional rs. Then, under realizing
sales, the entire improve ment was lost,
but the covering OF SHORT contracts in
the final dealings caused all apprecia-
ton of l Is. the last being the highest
price of the morning. In the general
market the tendency of prices during
the first shour was downward, but the
losses were merely fraL tional. After IL
O'Clock a better tone prevailed. and
under the leadership of Chicago Gas
and United States Cordage an advance
was recorded. The higher range of
values was not, however, maintained
for long. and on moderate selling, the
partial reaction took place i'll the final
dealings. speculation again became
strong and the market closed in good
tone. Chicago Gas opened at an adj
vance of e, reacted q, advanced 15s.
closing at reaction OF q. U nited
States Cordage receded Is at the OPEN
ing, and then on good buying advanced
in this stock is due TO a semi-otfical
statement that the floating indebtedness
has been largely reduced by converting
collateral of tile company held by banks
into cash. Cordage preferred broke
~, and rallied q maintaining the rise
at the close. Inc National Cordage
stocks were stricken froW the stock eX-
cnange list today. their place being
taken by the United States Cordage
securities. No other stock shows a
change above fraction compared with
the closing prices of yesterday. The
grangers were neglected today, ST.
Paul and Burlington Il Quincy
each gaining g, Rock Island losing
changed. The changes on the week
are unusually light, especially Ill the
active list. LII the list of advances are
Alton IL Terre Haute. 3; U. S. Cordage,
22s, and Tobacco preferred, 2. The
majority of shares traded in show de-
cline. notably New York, New Haven
d Hartford. 3ss; Union Pacific, rs;
Minneapolis Il st. Louis preferred, "a :;
Lake Shore and U. S. Leather pre-
Ierred, 2; Cotton Oil, common and pre-
ferred, SO; the grangers. 4@15s, the
latter Burlington; General Electric,
15s; Sugar, q. and 40 preferred, ~.
DLlstilling is unchanged on the week.
The bond market was firm during the
day, but the dealings were light in vol
ume and the changes trif1ing. except
that Keokuk q DeS Moines tirsts and
Alton u Terre Haute dividend bonds
advanced l. The reported break of So
per cent in st. Paul firsts, Southern
Minnesota division, on yesterday was
an error of the stock exchange reporter.
The principal chan yes ON the week are
as follows:
Declines-Union Pacific sinking fund
IS, 21a; Union Racine collateral trust 5S
aud 40 Lincoln Il Colorado firsts. each
8; Atchison seconds, 2Y; Kansas Pa
citic c0nsols, Savannah " Western firsts
and st. Louis, San Francisco trust 5S,
each per cent: Scioto Valley and New
England As. So; Cleveland Il Canton
frsls, 5, and Louisville, Evansville u
st. Louis general gold As, rs per cent.
ADMINISTRATION As, 23s: Alton Il
Terre Haute dividend bonus, Peoples
Gas, of Chicago, consols is and Ten
.nessee Coal and iron. Birmingham die
vision tirsts, each 3. and st. Louis Il
San Francisco consois Is. 81 per cent.
The TOTAL sales OF Stocks
today were 1854 shares, including:
Atkinson, 5000; American Sugar. H.
$500; Chicago Gas. 800; st. Paul, 2.100;
lUnion Pacific, 1905; United States
3Cordage, $500; Western Union, 1900.