The daily morning journal and courier., 1894-10-12
FtnaK..ial.
Lo.don .s1sp"asibis [ the strong Opsn-
 tpg of tho Exchauge.

Lo.don .s9sts,hsibie [ the strong Op~n- tpg of the EschsuRe.
 New York. Oct. li.- London was re- sponsible for the strong opening at the local stock exchange this morning, tho foreigners having turned purchasers of Louisville and Nashville. St. Paul and other of their favorites, This led to a rise of h to per cent. American Sugar. Louisville and Nashville. St. Paul. Manhattan and Missouri Pacific were all prominent at this tir,e. The improvement was followed by a sell Ing movement In the grangers, General Electric, Manhattan and the Cordage stocks. The grangers were pressed for sale on the old reports about poor earn ings, some of the sellers predicting that the St. Paul road will show compara- tive falling of In receipts for the sec- ond week of the current month of fully s200 ,O00. The pressure resulted in a decline of %to S0% In St. Paul. < to 5sx In Rock Island. and 4 to 71% in Burlington and Quincy.
 The government crop report had no influence on the market as the general opinion Is that the bureau of agricul- ture has underestimated both the yield of corn and wheat. General Electric was sold down to S6ta by we'll known bear trader. Unfounded reports were put in circulation to the effect that the company was having difficulty in meet ing It's financial contracts. This was pronounced absurd by people connected with the management who also stated that the money for the December in- terest on the debentures was in hand. Manhattan was forced down 1% to 112, but closed at 112%. In the Cordage stock liquidations continued early in the day and the common fell to 10 and the preferred to 19. At the decline brok- CTS alleged to be acting for insiders put the common back to IS and the pre- ferred to 2S%. Bay State ranged be- State Gas ranged between tmbatmrtarr tween 25 to 27 and closed at 26. Erie Telegraph and Telephone, which was listed yesterday. opened at 54 and ad- vanced to 55h,
 Toward the close firmer tone pre- vailed owing to the somewhat weaker condition of sterling exchange. The market for the latter was weakened by the appearance of security bills. This was accepted as meaning that there would be no gold shipments, at least this week, and consequently some of the | smaller shorts started in to cover, which resulted in an advance of A to | 1A per cent. from the lowest point of the day. The improvement was pro- nounced In Sugar Louisville and Nash vile, Reading, the grangers and Mis- souri Pacific The loan crowd indicates that the market is again heavily over | sold, St. Paul having commanded a premium of ,1-12S per cent. per diem at | the close.
 Speculation left of firm. Net changes show gain of t to ls per cent. Louis- vile and Nashville leading. Burlington and Quincy, General Electric, Western Union. Manhattan and Bay State Gas, however. declined h to b per cent. United States Cordage gained 1h per cent, United States Cordage preferred and Nickel Plate second preferred 2 per cent. Business was better distribut- ed than for some time past, Sugar hav- ing figured for only 34,00O shares against an average of 10000 for the past three l days.
 The bond market was irregular. Sales were $962,O00.
 Following are the closing prices re- ported by Prince & Whitely, bankers and brokers. 4s Broadway. New York. and l5 Center street. New Heven: