St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-22

in values. As the tariff bill is the lead
ing factor OF the situation. everything
which tends to create a sentiment on
one side or the other OF that uuestio n
has influence upon the market. The
election in Pennsylvania Yesterday was
looked upon in the light of an instruc-
ton to the national lawmakers to
modify their views on the tariff,
n hence was. made use Of by
the bulls to nov up prices.
Washington advices were scant as 10
new developments. and The dealings in
the industrials were consequently re-
Stricted, neither side of the market
caring to operate heavily on dead reck-
~Onings.
There was fairly good buying of
Sugar, which gained "a in the day, hay
Ing at II time mad an advance of u.
subsequently losing it all and finally
rallyihg 5sc. DiStliting was very firmly
held, the buying being mainly for the
Western account. A prominent bear
operator Is credited with selling the
stock short. and thu counteracting the
influences of the purchasing movement,
the result being that the shares ad-
yanced only the smallest fraction. Chi
cagO Gas was also prominent in the
dealings; buying OH orders from Chicago
sent 1t up l per cent in the morning,
but when this support was withdrawn
the short Interest took an inning and
broke the shares II per cent, the closing
sale being at a rally of only d. A report
was circulated in the morning that
The General Electric company was on
the high road 10 prosperity and to a
dividend In the common stock, and pur-
chaSes thereby induced all advance
OF IL per cent. An official statement
that there was nothing abnormal in the
business or the company to cause an ap-
probation in the stock led to the reali-
cations of the profits of the improve
nlent, and this caused a reaction of -.
In the railway list st. Paul and Burling-
ton did the bulk of the business. ST.
raul was bought by London and the
West. and cable advices were to the
effect that the foreign shareholders had
received assurances that the dividend
lor the current quarter would be duly
paid. An advance of % was all that
could be reached, and of this IS had
heen lost at the close. A scarcity of
Burlington shares in the loan market
led the shorts to cover, and
eaused an advance of "a. but
the later dealings were in a reacting
market, and the closing price was &c off
fIom the best. Western Union huctu-
ated within a limit of a per cent. gain
Ing &c Oh the day. LII the rest of the
list the transactions were trlflipg, and
the changes in prices very slight. ex-
cept that Wisconsin Central rose 3 per
cent. and COrdage preferred and New
York. Chicago d st. Louis l per cent,
and Toledo u Ohio Central declined 2
per cent. The market closed generally
hrm. The probability of gold shipment
was again brought forward by reason of
a slight advance in sterling exchange,
but the margin Of profit at current
rates Is SO slight as to make such VEN
lures not very alluring. The bond mar
Eet was very strong all day, and nearly
every issue traded in recorded an i'm
proHement, the most prominent of
which are Wisconsin Central firSts, 2 *;
Oregon Railway and Navigation 5s, ~;
do trust IS, 2.
The Evening Post says: One fact
and a great deal of %gratuitous rumor
combined to influence todav'S stock
market. The recovery in wheat was
the fact, and was served both to brighten
bears in The granger stocks, and to
bring in some speculative buying. The
change consequent in prices was not
great, for n side is quits as timid as
tie OtileT. lu6T6 was 10 unanimous
confidence, however, in a permanent
advance in wheat, and there is a natu-
raj doubt as to whether the very same
trade developments which force up
prices in the grain market will not ad-
versely influence railway grain traffic
prices. Rumor converged, as it were, on
Washington, and it was variegated.
Yesterdays Pennsylvania election had
changed the tariff purposes of the pres
ident; the senate finance committee had
changed its views; a bill without free
raw material would be reported within
TWO days-these are fair samples of
the days market pabulum.
Outside of the movement in wheat
which was certainly showing the first
powerful resistance to the downward
tendeDcy-today's outside financial
markets developed little that was new.
The Total Sales Of Stocks
today were 100. 900 shares. including:
American Sugar, "a. 1000; Burlington &
Quincy, II, 700; Chicago Gas, $500,
Distilling u Cattle Feeding, 5000; Gen.
eral Electric. $500; Reading, 100; St.
Paul, $500; Western Union, 800.
StOcks-Ciosing.