St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-05-21
FINANCIAL.
New York.

NEW YORK, May 19.-An active bus
mess was done on the stock exchange
during two hours of trading today, but
it was on the bear side of the market
and resulted in the establishment of a
lower range of values in the great ma
jority of the stocks dealt in, the indus
trial group being the greatest sufferers.
There was 10 indication of this at the
openingof the market but it set in later
/ A pretty general advance was made in
the early dealings, which was over only
fractional range. and was not particle
pated in by Sugar. The market was
then held well until IL 80 O'Clock, Just
about the time the bank statement was
issued, when a heavy selling movement
was organized which sent prices down
rapidly. with the industrals IN the van.
There was nothing in the figures of the
statement to cause alarm, the changes
Icing un!mportant and the reserve
being s73,000.00o, against less than $685.
600, 900 year ago. The only unfavor-
able item was the small decrease in
loans. which reflected the prevailing
dizziness Of trade. The prevailing con-
circles is perhaps the most serious
obstacle in the path OF the stock market
and the weekly trade journals take a
particularly gloomy view Of the out
look in today's issues. A good
deal of long stock came out today,
end the shorts considerably increased
their lines. In the late dealings
some of the bears who have a constitu-
tional objection to leaving their lines
uncovered over Sunday. came into the
market as buyers, causing rally which
impaired a tone of apparent firmness to
the speculation at the close. The de-
In ri Inc
trials. Sugar losing 80, do preferred,
~; United States Cordage, ~: Lead
preferred. National Cordage, 1s6; Edison
Electric, 2 u, and the rest OF the group
I@L,eXcept General Electric and Lead
which are unchanged. aud Cotton Oil
ana Consolidated Gas, which are a high
er. In the railway list the only
losses exceeding a fraction are ST.
Paul and Duluth, ~; Susaue.
hanna and Western preferred, 2, and
Iowa Central preferred, per cent. or
the grangers. Rock Island and North
west are.down u andlS respectively, st.
Paul is unchanged, and Burlington 4
Quincy is n higher. The only other
shares Which make gain on the day
are Atchison u and New York Central
"a per cent.
The market for the week has general.
ly been failing one, and some heavy
declines are recorded compared with the
closing figures of Saturday last. the
most important being: Sugar, 1111; do.
preferred, 50; Pullman. ~; United
States Cordage preferred, Z; do, COM
mon, 80; Manhattan, 6la; Nickel Plate
first preferred. 6; do, second preferred.
81; Cordage. 515; do pfd. 59s ;-9Wheel-
ing & Lake Erie preferred. 5; do COM
mon, 81; Rubber, AZ; Great Northern
preferred, Missouri Pacific and Metro.
politan Traction, 4; Tobacco, 81; Cot
ton Oil preferred and Iowa Central pre-
ferred. 80; Omaha. 35s; New England,
80; Erie preferred and Louisville &
Nashville, 81; Lead, So; st. Paul, 3;
Western Union, st. Paul q Duluth,
Quick silver preferred and Atchison,
~; Susquehanna & Western preferred,
Louisville & New Albany pre-
| ferred, Denver q Rio Grande preferred,
Illinois Central and Northwest pre-
ferred, ~; do common, 15s; Richmond
| Terminal preferred and Edison Illumin-
ating, ri: Oregon Navigation. 2; Rock
Island, ~; Chicago Gas and Distiliing,
l. and Burlington, q. General Electric
Is unchanged during the week.
The railway and miscellaneous bond
market was weak today in sympathy
with the share speculation, and declines