St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-06-07
FINANCIAL.
New York.

New YORK. june The volume of
business on tue stock exchange today
was greater than yesterday. and trans
actions were widely distributed through
out the list. Sugar, however. received
The largest share of speculative atten-
ton. At tire opening there was con-
siderable excitement in the sugar crowd.
ana the trading was So furious that the
first report that came from the stock
ticker was Sugar opened on sale OF
10000 Shares from los to 107. the first
price being ~ above yesterdays clos.
ing. The shorts who were anxious to
cover were the main buyers in the mOrn-
Ing. There were. however, numerous
trs who saw handsome profit and de-
sired to realize, and for while these
counter movements, being about equal
III force. held The stock between the fig.
ureS given above. About noon the buy
ing became less pronounced and prices
took lower range. and during the next
nour the fluctuations were between
1868 and lO7S. About 1870 O'clock
lOGss was touched, at which time brisk
buying was encountered. causing
rally to 1923, but in the final dealings
reaction OF d was made, leaving a gain
of e in the day. Sugar preferred rose
~. Jul AoSt ~ III btuc uudl tIduiIs.
The declaration of the regular divi-
bends on the common and preferred
Shares had practically no effect on the
speculation thereon, which seems to be
controlled at present almost entirely by
the tariff possibilities and the operators
who base their market calculations ON
the fate of the sugar schedule of the
tariff bill. A great deal of long sugar
stock was brought out today, OH which
good profit was made, and there is
growing belief that insiders are supply
ing much of the stock put OH the
market, as the clique brokers have
been among the heaviest sellers.
Ut the other industrials Chicago Gas
decline of X per cent sold up
close. Distiiling receded a small frac-
ton IN the morning, but during the
afternoon. OIL free buying, partly by
Washington houses, recorded an i'm
provement of ~, and closed within Is
of the best price of the day. The trad
ing in the rest of this group was light,
and the only changes above fraction
were advances of l per cent in Cotton
Oil preferred and ~ in National Cord
age. The railway list was by no means
neglected, land despite the fact that there
were occasional reactions. the undertone
OF the market was strong throughout the
day. The advances in wheat stimulated
purchases of the grangerS, ana also
helped the rest of the list. London was
i'll the market as a buyer OF nearly all
of the international specialties, notably
of St. Paul. which made an advance of
IA per cent, and held all but Il thereof
at the close. Rock Island rose 15s,
Burlington II and Northwest "a, the
last being the highest price of the day
in each case. The other more impnr-
ant gains on yesterdays closing were:
Missouri Pacific and New York Central.
per cent: Louisville & Nashville and
Erie preferred, 1B; Northern Pacifc,I.
The bond market was firm to strong
all day. the leading changes being:
Advances-Houston & Texas Central
general is and Erie second consul trust,
each. 211a; Minneapolis & St. Louis lists,
do Pacific extension lists, l; Oregon
Short Line consuls 5s. l.
Declines Union Pacific gold Is. coll
lateral trust notes, 21s; Milwaukee,
Lake Shore & Western lists, ~; Kansas
Pacific cOnsuls, l per cent. Georgia
Pacific lists sold at 1881, against 961a Oh
March 8.
The Evening Post says: While rail-
way shares advanced, opportunity was
taken to get rid of some holdings of the
industrials. In Sugar this was done on
the usual plan, the stock being marked
up N to los ON the first transaction,
after which the price fell slowly back to
1869. The conclusion of the senate
incident was chosen for declaration of
quarterly dividends at the regular an
nual rate of 10 per cent.
The Total Sales OF Stocks
today were 217.571 shares. including:
Atchison. 9.400; American Sugar. SO, 300;
do preferred. 1900: Burlington, $500;
Chicago Gas. $4,000; DistiIling and Cat
tie Feeding, $500; General Electric,
5000; Missouri Pacific. 1880; Reading,
300; Rock Island, $500; st. Paul, e.
500; Western Union, 1900.