St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-04-05
CITY MORTGAGES
Negotiated on improved Real
Estate, at Lowest Rates.
E. w. PEET & SON.
Manhattan Building.
FINANCIAL.
New York.

NEW YORK, April 1.-The feature of
interest in stock exchange circles today
was the publication of the report Of the
General Electric company for 1898.
which was an exposition of an un-
healthy condition during the period
included within the report. But the
fact that the knife had been used judi
ciOusly in cutting off the rotten
branches, and that the operation had
resulted not unfavorably, did not pre-
vent run on the company's stock.
The bears took advantage of the oppor-
tunlty afforded 10y the announcement
made IN the report that a millioli-dollar
surplus held in 1892 had been changed
into deficit of over l,2O0, 600 in 1898.
This result was obtained by charging off
everything but sound accounts and good
securities. Last years profits are stated
at So, 2OO,OOO. and the liabilities have
been reduced $7.OO0,O00 in the last six
months of the year. Although the COM
pany's affairs are admittedly in much
better condition now than at the close of
1898. the report caused selling move
ment of large proportions. which result
ed in break in the cOmpany'S shares of
81 per cent. of which only 4 was recov-
cred at the close. The general market
opened weak and S shade lower than the
closing prices of yesterday.
Chicago Gas making Il break Of Is on
sales induced by reports that yester-
days aldermanic election in Chicago
had resulted adversely to the interests
of the Gas company. subsequently
there was a rally of 81. but the final
dealings were at the lowest point of the
day. Distilling. after an advance of IS,
was sold down Is on Chicago orders,
| based OIL report that the attorney gen.
! eral would tomorrow render decision
against the company. The shares closed
| Is above the bottom figures. Missouri
! Pacific reacted q per cent in the early
rulings Oh liQuidating sales, but quickly
recovered. ana on buyin g, reported to
| be for the Gould party. rose q per
cent, subsequently reactIng l &, and
closing at a rally of Is. g below yester-
days final sale. ST. Paul was sold by
London and tile local traders in the
opening dealings. but receded only g.
Later it recovered p and rallied a.
The speculation was heavy in tone
during the first hour, but between ii
o'clock and noon was fairly firm, and
higher figures were made up to l
O'clock. A period Of depression fol-
lowed, the losses, however, being
merely fractional, and was succeeded by
good market which lasted to delivery
hour. From that time until the close
the tendency was downward, and the
final trading was heavy. Compared
with Yesterdays closing quotations the
last prices made were generally 1s@X
per cent lower, the latter General Eec-
trio; IL Oregon improvement and
Iowa Central preferred, 13s Toledo d
cent American Cotton Oil and Erie.
Exceptions to the general depression
were Delaware & Hudson, which roae
23s, and Consolidated Gas, which sold
up q per cent.
The bond market was fairly steady in
the early dealings, but IN the last trades
became heavy in sympathy with the
stock speculation and closed weak The
sales of st. Paul consols reported yes
terday at 81 was an error of the official
stock exchange reporters. No sale of
the bonds was made. The leading
changes OH today's transactions are:
DecllneS-Atchlson, Colorado d West
TN frsts,3; Missouri, Kansas q Texas
IS, 25s; New England Is, 211s; East Ten
nessee consol 5s, Kansas City d Pacific
firsts and Ohio Southern firsts, each 2.
Advances-Cleveland & Canton firsts,
Z; Missouri Pacific collateral trusts IS.
6; Northern Pacific & Montana firsts,
25; ST. Paul rs, los and Iron Mountain
seconds, each 9.
The Evening Post says: In both sill
yer and wheat there are special reasons
for the recent advance. In both reduced
production, present or prospective. has
suddenly risen to an important market
influence. Both had been Oversold by
daring spectators. That these two
commodities should advance, however,
almost simultaneously with the advance
. in securities is very possibly more than
coincidence. Silver, wheat and Sc.