St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-10-02
FIN An CEAL.
New York.

NEW YORK, Oct. 1.-The stock mar
ket opened irregular. and very quickly
developed weakness in the entire list on
a pronounced selling movement. The
pressure was heaviest in Sugar, cOnsid-
cradle long stock being thrown on the
market, and the bears putting out new
lines of shorts. There Is a belief that
the Sugar clique looks with not un.
friendly eye on this liquidating process.
/ Certain it is that the market receives no
support from this quarter. In the OPEN
ing dealings break of l5s took place,
and for short time the improve
ment was maintained. but during
the afternoon renewed sales sent
prices again downward, the decline
continuing to the close. The last sale
was at the lowest of the day, and
showed loss of 2$s from the final sales
of Saturday. The preferred stock re-
ceded IS to 921s, which is 55s above the
common stock. Distilling sought still
lower level today, touching ~. a de-
cline of II from Saturday. Rumor
was busy with the affairs of the COM
pany, all last weeks stories being re-
peated and new one started to the
effect that the directors had failed in
al effort to raise 100000 to pay off
rebate vouchers which haG matured.
The short interest began to cover at
the lower figures and recovery of "A
ensued, of which g had been lost at the
close. Chicago Gas opened g higher on
the continuation of Saturdays covering,
but the advance was promptly checked
by heavy offerings of the stock, and a
steady decline took place, which con-
tinued to the close. the last sale being
~ below the last of the morning and
II t0 thot, loo Isl ala
heavineSS of the shares, in view of the
announcement of the declaration of the
regular ~ per cent dividend in cash, is
accounted for by the assumption that
its insiders. supplied the bulk of the
stock placed on the market. The other
less active industrials participated in
the depression manifested by the Lead
erS of the group, and declines being
established at the close of rs in Leather
preferred, ~; Lead preferred, X;
Cotton Oil, l; preferred. l.; Tobacco,
| common aud preferred, and Laclede
Gas, "a.
In the -railway list the grangers were
most active, but were not subjected to
very heavy selling pressure. although
| the bears made occasional drives against
them. The fluctuations we're fractional.
| except in Burlington Il Quincy, which
| declined II, with a final rally of %.
st. Paul lost % and Rock Island "a. and
| Northwest common gained Is. w. u.
was depressed by quotation of bull
which was taken advantage of by
| prominent bear operators to raid the
| stock. A decline of II resulted. At
| Gibson fell off g OH Boston selling. but
| recovered q. The other more impor-
tant declines OH the day are New Jersey
| Censey, 27s on sales of 200 shares j;
Pittsburg, C.. q. & st. Louis, II; Lake
| Shore and United States Express, l..
| The market at the close was weak in
| tore.
/ The bond market was rather unsteady
| during the dealings, but became stead
Ter in the later dealings and closed with
an improved tone. The total sales
reached S93l.OOO. Reading being most
/ prominent. The principal changes are !:
I Declines-Iowa Central, ~; st. l.. s..
w. eds, ~; Oregon Short Line con-
| soils, SIS, q; East Tennessee Equip. IS,
| 2; Chicago IL Northern Pacific lists trust
receipts, "a: Chesapeake IL Ohio AIS,
| u; Northern Pacific IS, Missouri Pa
cific consol 6s and Texas Pacific firsts, 1.
Advances-People's Gas of Chicago,
consol SIS, 219; Oregon Navigation SIS,
trust receipts, u; Louisville IL Nash
vile consol. ~; st. Paul firsts. South
ern Minnesota division, 1.
|. Total Sales Of stocks
| today were 2C5,67O shares, including
Atchison, 1900; Sugar, $4,000; Burling-
I ton, Is. 400: Chicago Gas, 25.700; ID. G..
F., 1880; l.. " N, 1900: National
Lead, 3.40O; Northwest, 400; Reading,
$500; Rock Island, 5000; st. Paul,
27,70O; w. u. 1880.