St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-05-28
FINANCIAL
New York.

NEW YORK, May Co. The speculation
was Irregular and unsettled during the
TWO hours during which the stock ex-
change was open today. A fairly good
business was done, which was pretty
evenly divided between the two &C
counts, for the transactions were iu the
main purchases to cover short contracts
and sales to realize profits. Very few
fresh lines were put out on either side.
London was not in the market to any
extent. and the weakness of American
a depressing effect on the arbitrage
shares here. Sugar led in the deal
ings, fluctuating within a rangs of 2
per cent. There was pressure to
sell the stock at the opening. which
caused a break of 15s percent, but sup
porting orders came in. causing
prompt and complete recovery. A re-
newal of the selling movement, how
ever, resulted in a steady decline until
a loss of 2 per cent had been expert
enced. which was followed by a recov-
cry of g, the last sale being at de-
cline OF e on the day. Announcements
made with authority both here and in
London that the next dividend in New
York Central. due in June, would he
declared at regular rate, caused the
shorts to cover hastily in the other deal
ings, and caused all advance of "a per
ceut. When the demand from this
quarter was supplied the stock sagged
off 10 the close. making los Of " per
cent from the top price.
The granger shares were strong dur
ing the first hour and rose 4@1 per
cent, the latter Rock Island, but in the
later trading declined 14@15 per cent.
Lake Shcre advanced ~, reacting IL.
After an irregular inning the general
market became strong and the trend of
prices was upward until near III o'clock,
when the upward move was checked.
During the next hour the speculation
was rather feverlsh and unsettled, but
in the final dealings recovered its tone
and closed fairly steady. Louisville &
New Albany shows an advance on the
day of RI, Mobile Il Ohio and Rub
Der 4 per cent. while Lead preferred is
up ~ and Central Pacific l per cent.
The other changes were merely frac-
tional.
The market has been rather unsettled
during the week, but on the whole the
tendency has been toward a higher
range of values, and as result OF the
weeks trading most of the shares dealt
in show higher prices at the close than
at the end of last week, the more i'm
portant changes being: Advances
Sugar, do preferred, 4: Chicago Gas and
National Cordage, Az; do preferred. 8;
u. s.. Cordage, 4; do preferred, s.;
Tobacco. 335s; Great Northern preferred
and National Starch preferred, g.;
Wheeling and Lake Erie preferred, 29;
Manhattan and Susquehanna Il
Western preferred, ~; Chicago
q Alton. Rubber and Western
Union. 2: the grangers 1s@l5s,
and Distilling, u per cent. The prin-
cipal declines were Hooking Valley
preferred. So; New York, New Haven
Il Hartford, s: Evansville 81 Terre
Haute. 4as; Cotton Oil preferred, So;
and Chicago & Eastern Illinois pre-
ferred, ~; Alton & Terre Haute, Buff
falo. Rochester Il Pittsburg and Interior
Conduit, ~; United States Express
and New York, Chicago IL ST. Louis
first preferred, 2, and General Electric
u per cent.
The railway and miscellaneous bond
market was strong throughout the day.
and advances were recorded of go in
Oregon Navigation frsts; %. United
States Cordage firsts; 2, Dubuque Il
Sioux City seconds, Equitable Gas of
Chicago, and Minneapolis & st. Louis
Pacific extention firsts; ~. Northwest
twenty hve-ycar dcbeniure IS; ~,
Union Elevated iirsts. and l per cent.
st. Paul eights. Southern Pacific,
Arizona tirsts. and g.. c., q. u st. Louis
S division IS declined 1, and Peoria &
Eastern firsts, IL per cent. On the
week the market has been firm
for the more active securities,
but weak for some of the usual.
Nv inactive issues. The principal
changes are: Declines Louisville,
New Albany & Chicago consols, 6; Pc
oria. Decatur Il Evansville lists, Evans
vile division. 5; Iron Mountain 5s, AZ
Union Pacific, Denver Il Gulf lists, 4;
b. & o.. Southwestern income lists,
Louis division eds, 315: Hooking IS. 31s.
aad Erie ID eans0ls aud Toledo. Ann