St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-29
FIN
New York.

New York.
NEW YORK, Sept. 2S.-The stock mar
-ket wal irregular throughout the day,
with the general tendency i'll the direc-
ton of lower prices until late in the
afternoon, when shares had reached
about the lowest level. At this time a
very good buying movement set in
which brought about a recovery in most
of the shares traded, and in some shares
an advance on the day was established.
Sugar and Chicago Gas were the specu-
lative features. the first named being
by far the most prominent in the tran
SactiOnS. At the opening Sugar receded
&c and quickly advanced &c. but the
offerings were so heavy as 10 check the
rise promptly, and under tres selling,
which was continued during the morn
ing,a break of ~ per cent was effected.
The shares were fairly without support,
and both longs aud shorts were always
sellers. During the early afternoon
rallies and reactions followed in success
sion, but it was not until after 2 O'Clock
that a well-defined advance set in by
purchases of large blocks of the stock,
and just before the close 81 was touched,
being a gain of 21s per cent from the
low point of the morning, a reaction of
u tuhhhS PiaSS at Nv SlOSVS lCdNtuS q
net improvement of q per cent. Sugar
preferred Oh light selling fell off "a,
but recovered u per cent t0 9219. There
was talk on the street to the effect that
the refining company was getting ready
to compete with importers of German
beet sugar when the new crop begins to
arrive next month, and this was not cal
culated to help the stock, but the shorts
took alarm late in the day and closed
out their contracts. Chicago Gas
rose a in the early dealings, but
on Western selling supplemented
by the local traders a break of "a per
cent was made before noon. During
the afternoon a partial recovery took
place, and in the late tradings an addi-
tional advance was made, the total rally
y per e on the day. The granger
shares show decline OIL the day of Is in
Burlington and B@T in the rest OF the
group, despite the fact that both Bur-
lingtion and st. Paul show gains In
August net earnings. Burlington made
its increase wholly by lessening operat-
ing expenses. and st. Paul makes the
major part of Its gain in the same
way, which are due to the lack of spec
ulative appreciation OF the company's
reports. London was a buyer of St.
Paul in the early trading. The changes
in the rest of the list, compared with
Yesterday are generally slight. Advances
are shown in Cotton Oil preferred:
Tobacco common and preferred; Iowa
Central and Delaware & Hudson, l per
cent; Louisville, N. A. preferred. 81
and Metropolitan Traction, rs; Central
and Manhattan advanced X;
Cordage l and Edison Electric of Brook
flyn, 2 per cent. The market closed
strong.
II The bond market was fairly firm, but
became easier in the afternoon, In the
late dealings there was a rally on the
more active issues. The sales for the
day were SITS, 500. The principal changes
ON the day were: Missouri Pacific con
sol IS advanced ~: Susquehanna d
Western %refunding IS. II; st. Paul
consols, Norfolk Il Western IS, aud
Erie consol gold Is, l per cent. Declines
Union Pacific sinking fund IS, 2 per
cent; St. Louis & San Francisco consols
rs, ~, and Iron Mountain IS, ~.