St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-05-22
c.. ERNST Co
Investment Bankers.
Dealers in Ffrst-Class r.
kOnds, Bank Stocks and 10
Commercial Papers.
Money to Loan In Large Amounts.
-oFFICEs- @s-
Germania Bank Bldg. and Temple Courts,
st. Paul. Minneapolis
FINANCIAL.
New York.

New YORK, May 21.-The trading
was active Oh the stock exchange today
from tine opening to the close of bust
ness. and the aggregate transactions
were larger than Old any day for months
past, and more widely distributed A
strong tone characterized the opening
dealings, which was due to purchases
for the foreign account as we'll as to the
firmnesS of American securities OH the
London stock exchange. There was
good buying in all arbitrage stock dur
Ing the morning, but during the after
noon large percentage of these pur-
chases were resold. which helped swell
the volume of selling movement which
the short Interest manipulated. The
first sign of weakness displayed was in
Sugar, which. after an advance of "a,
broke ~ on liquidation for the account
of belated bull whom the recent de-
cline had forced to sell stock which he
was holding for a rise. The general
list sympathiZed with the depression in
Sugar and lost 4@113 per cent, the latter
Susquehanna q Western preferred; the
other industrials and the grangers also
participated in the reaction. A quick
rally ensued, in which the greater
Sugar sold up rs, then receded "a
and recovered 81. The market became
somewhat irregular about IL o'clock and
shortly thereafter took another down.
ward turn under the leadership of
Northern Pacific preferred, which was
heavily sold OH report that the plan of
reorganization likely to be adopted
would include heavy assessment on
the preferred stock. An advance of Is
had been made in the shares in the
opening on London buying. and the
break from the top figure was per cent.
Western selling of Chicago Gas resulted
ina decline of rs from the best price
of the morning, which was ~ per cent
Plate first preferred stock broke
2 per cent, Erie preferred fell
off ~; Manhattan and Cotton Oil,
~; the gIangers.A@as, the latter Bur-
liugt ton, Union Pacific and Reading, II;
Sug AZ. rs, and the rest of the list 15Q1l.
Bet ore noon Northern Pacific preferred
had rallied / q and the other shares
which had receded made fractional re-
covery. After mid day prices advanced
for nearly all hour, the improvement rang
ing to ~, Manhattan and Cordage
leadin About O'Clock the upward
mo vement was checked and decline
of Ito ~ was established. Interior Con-
duit making the heaviest loss, with Mis-
souri, Pacific, Edison Electric. st. Paul
and Northern Pacific preferred next in
line. Before 2 O'Clock a fractional rally
took place, which was of brief duration,
and under renewed selling prices again
sought lower level. After delivery
hour az improved tone was noticeable,
Dis illing moving up ID, Northern Pa
citio preferred l Is and other shares a
fraction. Sugar came into good demand
to cover short contracts and rose to 96$l.
gain of from the low point of the
morning, closing at reaction of u,
making an advance on the day of
~. Some few of the specialties were
weak in the final trading: but the
general market. although lower than
shows an advance of ~; United States
Cordage, ~, and National Cordage.11s.
The greater portion of the list is down
as compared with the last prices of
Saturday, notably: Evansville & Terre
Haute, 4556; Louisville & Nashville, 81;
Alton & 'Cerre Haute and Interior Con-
duit, IN; Northern Pacific preferred,
21; Nickel Plate first preferred and
Pullman, st. Paul preferred and Cotton
Oil preferred, ~; Delaware Il Lacka-
wanna and Long Island traction, II;
Rock Island. rs, and Chesapeake IL
Ohio, G., c., 9. & st. Louis, Edison
Electric. Manhattan, Kansas d Texas
preferred. Mobile & Ohio, National
Linseed and Oregon Short Line, / per
ceut. General Electric and st. Paul
| and Omaha are UNCHANGED Oh the day.
The bond market was weak throughout
the greater portion of the day, but some
| of the issues traded i'll recovered
sharply in the final dealings. Milwaukee
q Madison frsts sold at ia against 10Y
on Sept. 20. The other material changes
-in prices are: Declines-Peoria, De-
catur & Evansville. Evansville division.
firsts, 5; Iron Mountain IS, So; do
stamped, 1; Denver Il Rio Granue As.
| ~; Erie second consol trust
receipts and Hooking Valley
IS, each 2; Chicago g. Erie