St. Paul daily globe., 1894-05-15
CITY MORTGAGES
Negotiated on Improved Real
. Estate, at Lowest Rates. :
E. w. PEET g. SON,
Manhattan Building.
FINANCIAL.
New York.

New YORK. May 14.-Stoc exchange
trading reached low water mark today,
the aggregate of the transactions being
under rs, 600 shares. The sales of but
ten stocks exceeded 10000 shares, only
three went above 5000 shares and sugar
alone passed the 10000 mark.
1t was holiday on the London stock
exchange and the arbitrage houses were
therefore out of the market. Another
circumstance which tended to limit the
trading was the occurrence of the all
nual election of officers and governors
of the exchange. in which more interest
was manifested than for years, mas
much as the two members of the board
OF governors who voted against dis
continuance of the arbitrage business
with Philadelphia and Boston were
up for reelection, and members
of the 'change from those cities were on
the floor actively canvassing for them.
The new cut i'll freight rates also tended
to restrict business. especially In the
Trunk line shares, as introducing dis
turblng element into the situation which
the room traders did not seem to be pre-
pared to discount. A firm tone charact-
erized the opening dealings. but Sugar,
gan to decline on moderate selling, and
gradually broke ~ to 1899. The low
point brought buyers into the market
whose purchases caused recovery. of
"a, but renewed sales in the final trading
caused a reaction of 5s. the last sale.
being at a decline from Saturday
OF 11s per cent. Sugar preferred
declined per cent. The depreciation
in these shares was due to manipuia-
tion, there being no news OH the street
calculated to influence the speculation,
therein. Chicago Gas was bought dur
ing the morning on orders from insid-
ers, many of which came from Chicago.
and All advance of e per cent was es-
tablisbed on moderate dealings. The
entire advance was lost in the afternoon
by reason of lack of support. and the
stock closed only & above the lowest
figure touched. General Electric was
strong during the early morning, then
became heavy, rallied in the first part
of the last hour and weakened again at
the close. The fluctuations in the stock
was within limit of q, and a gain of
d was made on the day.
The railway list was neglected, st.
Paul alone making any showing in the
trading. and after declining rallied
q. The other grangerS were dealt in
very lightly, and the movement therein
was Insignificant. In the rest of the
list the trading was sluggish and the
changes generally slight. prices being
held firmly except for few OF the
specialtieS, and the market was steady
to firm at the close, the only stocks
showing an advance above fraction
being Mobile Il Ohio. Cordage common
is down u: Cordage preferred and
Rubber, ~, and Kansas IL Texas pre-
ferred ana Denver & Rio Grande pre-.
ferred, l per cent.
The bond market was firm during the
greater part of the day, but became ir-
regular in the late dealings, the prin.
clpal price changes being: Advances
st. Paul, NJ. IL NJ. IS, Northwest Sink
ing fund IS and New York Central de.
benture 5S Tegistered), each ~ per
cent; do coupon 5s, II per cent; Hook
ing Valley 5S, Kentucky Central, Mo
bile d Ono As and Rock Island firsts
(registered), each per cent.
Decllnes-IouisvllIe d Nashville gen.
erals, st. Louis Southwestern firsts. st.
Paul gold rs and Oregon Navigation
collateral trust 5S. each l per cent. st.
Louis IL San Francisco consol Is sold at
45 against so on April 81; Oregon Short
Line collateral trust IS sold at 43 against
46 OH April u; Chicago. st. Louis &
New Orleans 5s sold at lis against ILL.,
OH Feb. 23.
The Post says: The stock exchange
election overshadowed speculation to-
day. This event, in connection with the
London stock exchange holiday, and
following the apathy of the last week or
ten days, made Il market that was al.
most unparalleled in point of activity.
1t was SO narrow that an order TO sell
invariably forced quotations down a
fraction, willie an order to buy worked
them i'll the opposite direction. The
Western freight rate war eXerted an,
ominous influence. Railroad executive
officials openly profess that al the pres
ent schedules they are doing business 1T
loss. and number Of prominent rail-
road presidents have expressed what
appears to be genuine desire to termi-j
nate The war. tai
The 'Gotai Sales OF Stock. f5.
today we're 74.374 shares. including:
American Sugar. 27,O00; Chicago Gas,
$4,000; General Electric. $500; ST. Paul,
4.50U. Bank clearlngs. S65, l95, So; ball
ances. 81 29l ,SD3. I}t