St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-13
VANDERBILT SHARES WEAK
HEAVY CUT IN EXPENSES ORDERED
ON The R0AD.
BEAR RAID ALONG THE LINE.

all the Changers Were Weak
Rumored Coalition of Sugar,
Coal and Iron Interests to
Secure Tariff Legislation
Strengthened the Speculation
in Sugar-Bond Market Down.
New YORK, Feb. IA feature of
today's dealings on the stock exchange
was the weakness of the Vanderbilt
shares, for which there did not appear
to be any especially good reason beyond
bear raid, encouraged by the discharge
today of large number of employees OF
the New York Central, and reports that
the most severe economy was being
practiced in all departments OF the
company. This stock was first attacked
by pulling out some seller sixty lots at
~ per cent under the present price in
the hope of bringing out some long
stock.
The grangers. were heavy. North
west preferred lost u, do common, % I;
Rock Island II and Burlington Il
Quincy Is per. cent, all closing at the
bottom figures except Burlington, which
recovered Is. Sugar was only mOder-
ately active. and fiuctuated within a
limit of 3, closing at the same price as
ON Saturday. A rumored coalition of
sugar, coal and iron interests to secure
ovorable tariff legislation strength
ened the speculation in Sugar. Read
ing advanced Is per cent in the early
trading on Philadelphia buying, sup
plemented by purchases of the board
traders based on favorable reports con-
corning the progress of the COM
pany toward reorganization. 1t was
announced that application would
be soon made by the receiver
for leave to sell 100000 of
collateral trust notes in order to pay
off the floating debt, which would dis
pose of one obstacle to the rehablllta-
ton of the company. Western Union
lost 3 on the day. General Electric
made gain of q OH the morning trad
the March statement would show that
no floating debt existed and no paper
was outstanding. In the final trading
the shares reacted p per cent. Chica-
go Gas, after a reaction OF g, rose g
and lost the improvement. The specu-
lation in the rest of the list was small.
At the opening the general market was
firm but intensely dull, and was inact-
i've during the entire day.
The railway and miscellaneous bond
market was firm until late in the after
noon. when an unsettled tone prevailed
and the closing was a reaction. The
leading changes are:
Advances-Northern Pacific, q; st.
Pan1 fNbioarO G. Danifio Mime
apolis IL st. Louis firsts, and Equitable
Gas and Fuel Company Of Chicago firstS,
each 2; Long Island fives and Chicago,
st. Louis Il Pittsburg firsts, each u.
Declines Mackinaw q Mar
Quette land grants,3; Henderson Bridge
frsts, Missouri Pacific consuls and st.
Louis & Northern seconds each 2.
The Evening Post says: Several in
f1uences combined today to encourage
speculation for the decline in the
granger stocks. The continued fall in
wheat prices had its influences, the
storm in the West was magnified as an
adverse factor, and of course the rumor-
makers were busy with rate and d.vi-
dend gossip. Considering the bear"
material at hand, the spectators showed
no great results for the day and, in
deed, the tiIDidity of professional sellers
Is the most striking characteristic Of
the market. New York Central yielded
rather rapidly. some long stock appar-
emily coming out.
ST. E.OsEES Wheat Is Low.
ST. Louis. Feb. 12.-Wheat made
another low price today. May sold at
55Ac, and cash No. 2 red winter at
5l%c. The latter price was &c below
where it sold last August. The 5215c
at which cash wheat then sold held the
record up today. Never before was the
situation so demoraiZed as it is at pres