St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-06-18
FINANCIAL.
New York.

New YORK. june l6.-The spirit of
speculation was not very highly de-
veloped 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 $4,000 shares.
and only in three stocks were the sales
more than 5000 shares, Sugar alone eX
ceeding 5000. Prices moved slug
gishly and irregularly. with periods
IF absolute cessation of bust
ness. The opening quotations
were generally small fraction higher,
Sugar showing the greatest improve
.nent, recording all 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 an apprecia-
price of the .norning. In the general
market the tendency of prices during
the first shour was downward, but the
losses were merely frat tionaI. After II
O'clock 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
closing at reaction OF Is. U nited
States Cordage recedei g at the OPEN
Ing, and then Oh good buying advanced
IL. closing at the top prices. The gain
III this stock is due TO Semi-official
statement that the floating indebtedness
has been largely reduced by converting
collateral of the company held by banks
into cash. Cordage preferred broke
~, and rallied ~. maintaining the rise
at the close. The National Cordage
stocks were stricken FROM the stock ex-
taken by the United States Cordage
securities. No other stock shows a
change above fractiou compared with
the closing prices OF yesterday. The
grangers were neglected today, st.
Paul and Burlington q Quincy
each gaining e, Rock Island losing
Il. and Northwest standing un.
changed. The changes on the week
are unusually light, especially IN the
active list. In the list of advances are
Alton Il Terre Haute. 8; U. S. Cordage.
25s, and Tobacco preferred, 2. The
majority of shares traded in show de-
fol ,lt,N oxu Nnry 10
u Hartford, 33s; Union Pacific, 25s;
Minneapolis d st. Louis preferred, ~
Lake Shore and U. S. Leather pre-
Ierred. 9; Cotton Oil. common and pre-.
ferred, 81; the grangers. 4@l3s, the
latter Burlington; General Electric,
18; Sugar, ID, and DO preferred, l Il.
Dlstilling is unchanged Oh the week.
The bond market was firm during the
day. but the dealings were light i'll vol
ume and the changes tritiing, except
that Keokuk d Des Mones tirsts and
Alton IL Terre Haute dividend bonds
advanced l. The re ported break of 81
per cent in st. Paul tirsts, Southern
Minnesota division, on yesterday was
an error of the stock exchange reporter.
The principal changes on the week are
as follows:
Declines-Union Pacific sinking fund
! IS, 21a; Union Pacific collateral trust IS
|; and 90 Lincoln & Colorado frsts. each
8; Atchison seconds, 2Y; Kansas Pa
chic cOnsols, Savannah 4 Western tirsts
and st. Louis, San Francisco trust IS.
each per cent: Scioto Valley and New
England IS. 80; Cleveland & Canton
tfrsts, 5. and Louisville, Evansville &
st. Louis general gold Is, 25 per cent.
Advances-Atchison4 As, 25s: Alton &
Terre Haute dividend bonds, Peoples
. (SaS Of ChicapO cOnSOiS &c and Ten
vision firsts, each 8. and St..Louis Il
San Francisco consols As, 81 per cent.
n