St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-22
FINANCIAL.
New York.

altogether q controlling influence or the
speculation OH the stock exchange, the
fate of the seigniorage bill is full of In
terest to the street, and operators for.
both long and shos1 accounts on trade
on their respective theories as to the
probable action of the president. The
dispatch received from the executive
chamber by the chamber of commerce
committee appointed to present the
memorial adopted against the signing
of the measure advising that they
should not go to Washington was taken
by one section of operators to mean that
lnaSmuch as the decision had been
reached to veto the measure it was I'M
necessary for the committee to make
the journey. On the other hand it was
suggested that the president having
decided to sign the bill desired
10 save the committee, the
pain of meeting with a refusal. Both
sides to the question agreed that Mr..
Cleveland had either made up his mind
as to the course to pursue, or wished
to arrive at a conclusion without the
assistance of the New York financierS.
belief in this caused buying move
ment during the morning, and during
the afternoon the early purchasers be-
came sellers. There were other feat
ures besides the seigniorage bill which
affected stocks, and alphabetically the
entire market. The sugar interest pro-
fess to regard the sugar schedule of the
senate tariff bill with only little less
favor than they accepted the house bill.
and assert that it does not give any
consequence the bears in the sugar
company's shares are assisted by the
argument in hammering down prices.
Reports today were circulated to the
effect that certain prominent senators
have stated that the tariff bill as it shall
pass is certain to make sugar free. but
Wlthal the common stock after Jan
early break recovered all but a fraction
of the loss, while the preferred made a
slight gain. Pending the conclusion Of
negotiations in progress between repre-
sentatiyes of the diStilling and the dis
tributing companies, the speculations
in Distilling are contracted. The I'M
certainty which prevails as to the out
come of the conference naturally
restricts the buying, and the bear trad
ers are not anxious to put ont long lines
Of the stock lest they be swamped in a
boom manufactured out of possible |
agreement between the rival interests. !
A covering movement in Burling- |
ton " Quincy was the moving |
powers III the appreciation of this |!
stock. but despite early purchases |
Of st. Paul for the London account, the !
later selling reduced the advance in |
the common t0 q, but the preferred |
made an advance of per cent. In Chi |
cago Gas truce seemed 10 have been |
agreed upon by the opposing factions.
the fluctuations being within 81 per
cent and the closing at yesterdays final
sales. The New England was not in |
the least affected by the change in the |
complexion of the directory at today's |
meeting of shareholders in Boston.
Mcleod and his friends dropped out of |
tue management Uf the company with.
out causing a ripple of excitement
among the shareholders. The volume
of business was lighter than for some
time past, even Sugar failing TO show
some of its accustomed activity. A firm
opening was followed by all early ad-
vance except for Sugar, which. after an
advance of &c broke 211s, subsequently
recovering ~. but again reacting 2,
rallying ~, receding 15s and closing
being 4 The general market was
strong curing the afternoon until about
2 O'Clock, when reaction occurred,
but in the final dealings the speculation
became firm again and closed with
prices in the main 4@T per cent
higher than the final quotations Of yes
terday for the active list and l per
cent for Delaware, Lackawanna, Ia
Mobile & Ohio, Il Pullman, 2 St. Paul
" Duluth, 212 Pittsburg & Western
preferred, 21s Consolidated Gas, and
Evansville Il Terre Haute. Pacific
Mail made a loss of "a and Laclede
firm in the early trading and stronger
during the afternoon, the princi pal
changes being:
Advances-St. Joe & Grand Islands
lists, 4; Peoria IL Eastern lists, 81:
Flint Il Pere Marquette Us, %; Houston
IL Texas consol Us, ~; Green Bay IN
comes, N; Chesapeake IL Ohio, Rich
mond Il Allegheny division DDS, East
Tennessee cOnsols IS, Peoria. Decatur
u Evansville Eds, st. Paul, Iowa s. Da-
kota extended. st. Paul & Northern Pa
cific IS and Northern Pacific lists reg
istered each per cent; Northern Pa
citic coupon lists, a per cent.
DeclineS-AtchiSon Is registered 13I.
and Houston Il Texas general As, u;
st. Louis IL San Francisco general 6s
sold at 95, against 80 on Feb. %. Utah
Southern generals sold at ST, against 80
OH Feb. IS. Wabash deOentures, series
b, sold al p against 81 on March,.
The Total Sales OF Stocks
today were 1000 shares. including:
American Tobacco, 1000; Atchison,
5000; American Sugar. 4O,7OO; Burling-
ton $4,000; Chicago Gas, 17,1OO; Dis
tllling and Feeders. 1850; Louisville
d Nashville. 400; Missouri Pacific,
5000; National Lead, 800; Reading,
5000: Rock Island, 1890; ST. Paul.
13, 400: Texas u Pacific, 3,7O0; Western
Union, $500.