St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-14
FINANCIAL.
New York.

NEW YORK, Aug. 13.-The week
opened Oh the stock exchange with a
strong and active market, and as the
day advanced the volume of business
increased. and the dealings assumed
buoyant tone. The chief factor In the
market was. first, the reported intention
of the majority party in the house to
instruct the Democratic cOnferees to re-
cede from the house amendments and
accept the senate tariff bill: and see
ondly. the accomplishment OF that pur-
pose. News of rains in the wheat
regions, which Injured to the bene-
fit of the crops, also materially
assisted in imparting strength to
the market. Another important
feature of the situation was the
strength of American securities on the
London market and the good buying
orders from abroad for the arbitrage
stocks. Sugar made trit1ing advance
at the opening and then sagged off
nearly l per cent on sales to realize
profits. but quickly recovered the loss
on brisk buying, and after midday
moved up rapidly, recording an lnl-s
provement of 35s per cent. touching
l0915, and closing within 3 of the higi-
est point of the day, being a gain of.
! PA on the closing figures of Saturday.
reach Reaching .'' the best figure Of the
year, which was made on May 4.
| Besides the general improvement
| in the situation there were special intiu-
ences brought to bear on individual
shares. Louisville & Nashville was
brought into denand by the publication
of the earnings tor the first week in
| August, which showed an increase in
+ gross earnings. the first gain made in a
! long time. In Distilling the trading was
very heavy, the 20 per cent increase in
the spirits tax provided for in the sem
ale tariff bill inducing purchases and
| sending the price up sharply. The buy
ing was largely for the inside account.
st. Paul was bought by London and
Philadelphia, and the West covered
| largely in Burlington. Rock Island was
| strengthened by the statement said to DO
made on the authority Of President Ca
BILE that the next quarterly dividend will
be paid at the usual rate. The market
was strong in the final dealings, and
closed at or near the highest prices of
the day, the principal advances Oeing
Distilling. 4 per cent; Burlington u
Quincy, 23l; st. Paul, ~; Rock Island,
| 2; Northwest. 13s; East Tennessee
firsts preferred, 219; second preferred
IL: Louisville q Nashville. United
| States Leat6er,2; 40 pfe1erreQ,2& Den
yer IL Rio Grande preferred, Northern
Pacific preferred, rs; Missouri Pacific,
st. Paul & Omaha, Union Pacific, Erie
preferred, Wheeling & Lake Erie and
Lead, II; Erie common, Western
Union, Pittsburg & Western preferred,
Hooking Valley preferred and e. G. G..
& st. Louis and Chicago Gas, l. Half a
dozen inactive shares recorded declines
on the day, including G. c. q. d st.
Louis preferred, 3; Louisville Il New
Albany, Is, and st. Paul preferred. q.
The bond market was strong and active,
in sympathy with the share speculation,
the total transactions reaching S1,S51,-
500 most of the Issues traded in making
advances, the more important of which
were: Wabash debentureS, Series b, A.;
do seconds, "a; Toledo, Ann Arbor u
Grand Trunk lirsts and Louisville u
New Albany generals, g.; do consols, q;
Colorado Midland As, 2%; Denver u
Rio Graede As. ~; Peoria, Decatur &
Evansville seconds, 2.
Declues-Utah Southern extension
firsts, 8; Minneapolis & st. Louis, Pa
cine extension. East Tennessee consol
IS and Chicago, Burlington & Northern
5s, per cent.