St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-20
FINAN CTAH..
New York.

New YORK, Jan. 19-With the eX-
ception OF brief period during the fore
noon, when slight reactionary move
ment was manipulated, this was bull
day Oh the stock exchange. The great
factor in the market was the success
attending the placing OF the new gov
eminent loan, which Washington adj
vices state has already been subscribed
for twice over at a premium on the price
established by the secretary OF the
treasury. While there was never any
doubt in financial circles that the bond
issue would be readily taken by home
investors, the avidity with which capital
seeks to absorb the loan at figures above
the minimum taking prices testiteS to
the high credit of the government at
home among the people who are best
qualified to judge the situation correctly.
This is the view taken by the operators
on the stock exchange and the short
interest devoted today to covering their
outstanding contracts. apparently be-
lieving that conditions are not favorable
to bear campaign. Orders to buy were
many at the opening of business. Lon
don. the West, Boston aud Philadelphia
being among the purchasers and help
Ing to swell the quota. Not that the
volume of business was large or that
there was unusual activity, but a steady
trading which had no pressure to sell to
counterfeit, ana as a consequence re-
quired less buying to bring about an
advance than in all ordinary market.
The upward movement reached its
height in the last half of the afternoon
and The final dealings were quite
marked, the highest prices of the day
prevailing at the close, which was strong
in tone and approaching to buoyancy.
baH caH
by rumors of 100000 decrease in De-
cember earnings, was strengthened by
semi-official statements that the loss
could not exceed half that amount. The
buying In the other granger shares was
also increased by reason Of this report.
and the recent bear clique i'll st. Paul
and Burlington were SAID to be cover
ing. The announcement of the Louis
vile q Nashville earnings for the Sec
ond week in January, showing. as they
did, an Increase OF nearly $4,000, not
alone served to re-esta lish that prop
erty in the good graces of the specula-
tive fraternity, but was regarded as
indicative of the improving tendency of
the railroad situation in general. ST.
Paul q Omaha after an opening loss of
q per cent, rose II, reacting & at the
close. To account for the advance in
THIS stock. it is said that the Vanderbilt
interest has been quietly acquiring the
| shares preparatory to the carrying into
effect OF a long contemplated project
to amalgamate the road with the Chi
cago q Northwestern system on the
basis of ten shares of Omaha for one
Northwest. Reported reform in The
company's business methods, by which
| increased profits are said to be possible,
| resulted in an advance of both CT the
| leading stocks. The formation of pool
| in Western Union to acquire further
| holdings assisted to advance the price
| of stock. Lake Shore on rather limited
| purchases recorded the greatest adj
vance of the day. rejecting the general
| Improvement of the railway situation
| rather than by reason of any special
favoring influences. The advance in
| prices on the days transactions ranged
from Il to ~ per cent, the latter in
Lake Shore and Great Northern pre-
ferred; ~ in Northwest, Rock Island,
Chicago Gas and Lead preferred; II in
| DistiIIing, Central Pacific and Rubber;
Ia in st. Paul, Western Union AMI
Lead common, and per cent In Sugar.
Burlington IL Quincy. Chesapeake s.
Ohio, Reading. Consolidated Gas, Mo-
bile Il Ohio, Toledo, Ann Arbor u North