St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-06-24
FINANCIAL.
New York.

NEW YORK, June 23.-During theltwo
hours of business today the -prevsiling
tone of the stock market was weak ness.
A brisk selling movement WAS IeveloDsd
at the opening which was most pro-.
nounced i'll ST. Paul, Sugar. Atchison and
Missouri Pacific, Baltimore Il Ohio on a
sale of hundred-Share lot broke 2L
per cent and recovered Is on the pur-
chase Of 100 shares, these being the only
transactions in the stock. When the
pressure to self was removed Sugar and
few other shares made fractional re.
covery. Chicago Gas, which had re-
ceded q on the opening dealings. came
into good demand and rose Ia per cent,
mainly on purchases to cover short con.
tracts. There were runIors current to
the effect that tha dividend OH
| tile shares would be paid in
cash within a very few days
and the bears did not leave
contracts outstanding over Sunday. A
raid was made OH Sugar, which had re-
covered a portion Of the early decline,
and the price went down to 9754, Il de-
cline OF per cent from yesterday, a
subsequent recovery of % was made.
and then came another break of III,
with final recovery of "a, the last sale
being at a figure Is below yesterdays
closing. Betore II o'clock there was a
fractional decline. in which nearly all
the shares traded Ill participated. while
Manhattan dropped 136. Louisville. New
Albany preferred 2s4, and Consolidated
Gas per cent. Oh total sales of LOCO
shares. During the first half of the
next hour the speculation was weak, but
the declines recorded were all fractional
except New Jersey Central. which fell
off per cent, rallying d at the close
In the final dealings Sugar rallied
slightly, and Louisville q New Albany
gained rs of its early loss. East Ten
nessee, hrst preferred, OIL sale Of 100
shares, declined per cent, but reeov-
cred Il. There was a slight rally III
prices in the first dealings, and the
market closed steady to firm, but at a
very general decline ON the final sales
of yesterday, the losses, except
where already noted, being .coh-
fined to fractions. with the exception
of United States Cordage and Kansas
& Texas preferred. which are down II
@1H per cent, respectively. Sugar is
off e, and the grangers At9s1, the lat
ter ST. Paul. During tie week the
speculation has been unsettled, and the
general tendency of prices mas been
downward. the heavy gold shipments,
the dissatisfaction of the stockholders
with the Atchison reorganization, the
fear that other roads now in the hands
of receivers shall receive similar treat.
ment. and the absence from the market
of the larger operators, all tended to in-
duce sales of long stock aud encourage
the bears to raid the weaker railroad
properties. The only shares which
show any material gains in the week
are Alton & Terre Haute preferred.
1711; Adams Express. 10, and Cotton
OIL preferred 5 per cent. n
In the list of declines are Denver &
Rio Grande preferred, 81; Oregon Nar
vIgatiUn and Consolidated Gas, 5; union
Pacific, 3as; Morris & Essex. s.. Baiti4
more d OHIO. 2N; Missouri Pacific.
~; Central Pacific, ~; Atchison,, w ~
bash preferred AMI Northern Pacific
preferred, 256; Western Union. 2Jka:
Pullman, Wells Fargo, st. Paul9 and
Kansas d Texas. Q; do preferred, 81 &;
Northwest, ~; Distilling aud General
Electric, IL. i
The Evening Post says: The week
closed today with no interruption to the
decline in shares of insolvent railroads.
unfortunately the most logical of recent
market movements. There is, no doubt.
very considerable short interest in
these stocks, but the sale of real hold
ings has been continuous. Elsewhere
today's market was of small signifi:a
and changes, both for the day and for
the week, were trifiing.
The bond market was generally weak
ali day on fairly good business for a
Saturday. The only issues which re-
corded advances above fraction were
Georgia Central IS, 355s, and LouisvlIie
& Nashville, U. & d. irsts aud &. G. &
indianapolis generals. per cent.
Declines were recorded of 5 per cent
In Seattle. Lake Shore & Eastern frsts,
trust receipts; in Oregon Shntt Line
cnnsol IS; 81 In Grand Rapids d Iu-
diaIapolis 4li 3 in Union Elevated