St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-03
FINANCIAL.
New York.

New YORK. Aug. 2.-There was a
trif1e more business done ON the stock
exchange today than yesterday, the
Increasing being due to the purchases
for foreign account. At the opening
there were buying orders OH the board
in st. Paul, Louisville & Nashville,
Atchison and Erie, and the tone of the
market for American securities in Eu-
rope was strong, especially for LOUIS
vile d Nashville, the Improvement be-
Ing due to reports that the tariff dead
lock is likely to be broken within few
days. Despite the fact that this report
was entirely at variance with the facts
as they are understood to exist here, the
London opinion, backed by London
buying, had an effect ON the market,
ami during the first hour of business
the trend of prices was upward. Louis
vile d Nashville, the grangers, Gem
eral Electric, Union Pacific, Erie and
Consolidated Gas being most prominent
in the advance. Sugar lost Il at the
opening and gained %, but at IL o'clock
was subjected 20 bear drive which
sent the price down 1Ss per cent, the
selling being based on Washing ton ad-
vices, stating that modification OF the
senate sugar schedule would be agree
to, which would materially lessen protec-
ton accorded to refinerS. The general
market did not sympathize with the de-
preston in Sugar, the oaly other serious
declines which occurred up to II o'clock
being ~ III Erie preferred OH the sale
IF OH in
land certificates, second assessment
paid. Speculation was very dull dur
Ing the hour before noon. the market
being irregular Oh narrow fluctuations,
except for New Jersey Central, which
advanced rs per cent, subsequently
reaeting q, and Sugar, which on
fairly goou buying, credited largely
| to insiders, rose % per cent.
During the early afternoon Sugar was
neglected, making further advance OF
| d on small buying, but shortly before
delivery hour large blocks Of stock were
unlOaded on the market, one we'll
| known bear operator throwing over
| 5000 shares, sending the stock down
rapidly, and uncOvering stop orders,
which brought out considerable long
stock, thus adding to the volume of
| sales until just before the close, when
102 was reached, being 23s below the
closing figure of yesterday. A rally of
! Is followed, with Il final reaction OF ID.
| Inc general list was unsettled during
the afternoon, fuctuatlng between
strength and weakness, the final deal
ing being made OH fractional rally,
and the market chasing fairly firm
cept for Sugar, which lost ~ on the
day. the other declines in excess of a
fraction being Erie preferred, ~;
| Kansas u Texas preferred. Ia, and st.
Paul 81 Omaha preferred aud New
England certificates, second assessment
paid. each l per cent. The more i'm
portant advances were: Consolidated
Gas and American Cable, 2; New Jer-
sey Central, rs; SusQuehanna & West
ern preferred, 124,'and United Rubber,
l per cent. The bond market was
generally firm all day. the principal
changes being: Advances-Loulsville
d. New Albany firsts, IN; Iron Noun.
tain 5s. 2: Richmond Terminal stamped
6s and Oregon Navigation trust receipt
5s, ~.
Declines-Louisville & New Albany
consols, 8; Nashville d Chattanooga
firsts, 2, and Oregon Navigation frsts,
~ per cent.