St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-07
New York.

NEW YORK, Aug. Ga determined
attack was made today Oh the granger
shares. which was based on the reported
damage to the corn crop. and which was
given aid and comfort by the sharp ad-
vance i'll price of that cereal. The
talk was very beariSh in this group, eS-
pecially as to Burlington u Quincy, tie
coming dividend on which was offered
at Is, and current rumor declared that
it would not exceed % per cent. The
stock was offered in heavy blocks and
was forced down steadily to the close,
with The exception OF a slight rally in
the earty morning. Chicago was the
heaviest seller. but Boston houses and
the day advanced. The price was at
the lowest figures touched,and was at
decline of "a per cent from
the closing sale of Saturday. Rock
Island also reached the low
point at the close, making loss of q
per cent OIL the day, and Northwest on
small transactions aggregating only 900,
declined q per cent. St. Paul, which
was very largely dealt in, was the only
one in the group which sold above Sat
urday's closing. After receding q in
the early trading, this stock rose % per
cent to 500. and in the face
OF brisk selling, was held above
so until after 2 o'clock, when
the pressure Oil the Granger group be
came most pronounced, and 1t fell off TO
5S79. with final rally of g. making
loss compared with Saturday of % per
cent 1t is believed that there was COLI
siderable covering in st. Paul by
prominent bear operator, Sugar today
vacated its place as leader of the mar
ket, which it has held for many months.
There Was no specially interesting
news from Washington today, and
what did reach the street III the way of
rumor was conflicting. The clique
which usually operates In Sugar was
busy today with the grangers, which ac-
counts for the comparative inactivity
in this stock. An advance of Is was
made at the opening, which was fol.
lowed by a decline of q and an adj
vance of 4, to log. At The top figure
an Influence was developed, under the
influence of which q reaction OF 81 per
cent took place, with recovery of q
per cent at the close, the improvement
on the day being "a per cent. Reports
of Increased earnings induced buying Of
Western Union for both long and short
accounts, which resulted in an advance
OF e per cent, with loss Of q in the
net depression i'll final dealings. Rich.
mond Terminal was in better demand
and tone than usual, selling up to "A
and reacting g per cent. Missouri Pa
cifc advanced 4 per cent on reports of
improved earnings. but reacted ilLlater
trading and closed Is below the highest
price OF tile day. Distilling was neglect.
ed, tiuctuating within limit of Is per
cent and closing at Saturdays quota
ton. Louisville IL Nashville receded d
ri mi hl, fipg 81
then moved up 11s on the fairly good
showing made by the July statement,
reacting % III the universal slump at
the close. Chicago Gas moved within a
range OF Is per cent on light trading,
closing al Saturdays figures. In the
rest of the list very little was
done, the dealings therein being irregu-
lar in the morning and early afternoon,
but higher prices were made, as rule,
which were only partly lost in the de-
cline of the last hour. and the closing
sales were generally made at an advance
of 76(921a per cent OH tho day, the latter
Baltimore & Ohio and Erie preferred !;
2, st. Paul d Omaha preferred. Denver
81 Rio Grande preferred; ~ Lead
preferred and l per cent New Jersey
Central, Manhattan, Illinois Central, ST.
Paul preferred. Northwest preferred
and East Tennessee second preferred.
Exceptions were ST. Paul, Minneapolis
& Manitoba, which declined 81; Amer
lean Express, 2. and Pullman, per
cent.
The railway and miscellaneous bond
market was firm and moderately active.
the total sales being SS07,OO0. The prin-
cipal changes on the day are:
Advances Toledo, Ann Arbor frsts
and Third Avenue K. K. firsta. IL !:
Union Elevated iirsts, ~; New YORK.
Chicago 81 ST. Louis IS registered, St.
Louis Southwestern firsts, and New
York Central debentures IS registered,
~.
Declines-Atlantic & Pacific As, 81 /;
Union Pacific gold Us, per cent: st.
Louis d San Francisco consol Is sold
at 40. against 40 on June IS.