St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-05-11
FINANCIAL.
New York.

NEW YORK, May 1O.-lt was not an
active market today, but the trading
was fairly distributed. The industrial
group took about onethird of the bust
ness. with Sugar, rs usual. in the lead.
st. Paul was most active of the railway
list. and was the only one Of this class
of stocks in which the transactions ex-
ceeded 10000 shares. At the opening
the general market was firm, and
majority of the shares traded in showed
all advance Oh the closing figures of
yesterday. exceptions being Illinois
Central. Louisville q Nashville and
General Electric. The spt culatiOn was
unsettled during the first half hour, but
gradually assumed Il strong tone i'll the
grangers and inLustrials. The improving
tendency Of the market continued lntu
the aftern Fun, with Sugar as tue leader.
having made a gain Of l d up to midday.
The buying in the stock Orcant quite
pronounced after noon and WAS for both
lUug and short accounts, causing all
additional advance Of "a IL l01M. A
slight bear demonstration subsequently,
caused d reaction of e, hut tine tiual
sale was at recovery ul q, making the
advance ON the day 3h. SUGAR preferred
nade gain of ~. closing al the nigh
est OF tins day. The general list was
strong Throughout the afternoon until
just before 3 O'Clock, when. 4 reaction
bet iD. lnainly due to realiZationS, and the
market closed slightly heavy ana some
what irregul.r, tut in a majority of
cases at ali advance Oh last nights
closing figures. The rise in Sugar was
nnacco,npahied by amy news affecting
the stock, and apparently was due to a
squeeze. OF the shorts, who. w ere lad ueed
tU sell by thee artificial weakIsess dis
played during the past few
days. The liquidation III General
Electric was resumed this morning,
sending the stock down to 35}s. being
II. per cent below yesterdays closing.
Tue readiness Witt WITCH The stock Of
tered was absorbed checked the selling
and induced buying. causing rally OF
~. the tnal sale being within IS 0f The
highest point touched. Chicago Gas
was fayorably affected by the COM
pany's application to transfer the quo
warrantU case from the Illinois 10 the
United States courts. shorts undertake
ing TO cover, and some buying coming
from the West. The result was all ad-
vance Of / Il, Of which q was lost at the
close. The grangers made gains Of a
@5s on the day, except st. Paul common
cent. American Cable advances ~,
Tobacco N. Lead g and st. Pauf u
Omaha preferred l per cent. Oregon
Navigation sold at ~ against ~, the
previous sale. Illinois Central declined
l per cent. The other changes were
fractional.
The bond market was Irregular, the
principal changes being: Declines
North Pacific q Montana firsts, 5Ls;
st. Louis IL San Francisco seconds, Glass
A, 80; Central Pacinc land grant fives,
8; A'chlson. Colorado d Pacific frstS
and Flint q Pere Marquette iives, each
2A; Go Port Huron fives. l; Detroit, NJ.
d Nj. land grants, 2; Wheeling Il Lake
Erie divisional firsts and Oregon Short
Line consol tives. each /; Cincinnati.
Dayton u lronton fives, Fort Worth d
Denver City skies, and st. Louis South
western seconds, each per cent.
AdvanceS-Des Moines 4 Fort Dodge
two and halls, 81: New York & North
ern firsts. 8: Hooking Valley tives, q;
Virginia. Midland General aud Chicago
Il Eastern Illinois frstS, each tx; and
Plttsburg & Western fotrs, per cent.
The Evening Post says: A remark
ably large supply of ''bearislr; talk was
spread from all quarters before Wall
street today, with especial reference to
the rate-cuttlng reports from the South.
west and to the gold export movement.
Yet prices for stocks, so far frC III re-
fleeing this atmosphere of pesslmlsm, ac-
tually advanced, and almost without
exception attained a higher level. From
narrow market standpoint. the COIN
cidence of dismal comment aud strength
ening prices meant simply that the
short interest had becume too large for
comfort. From broader point of view,
IL simply illustrated the unwiilingness
of outside holders to sell at ruling
prices.
The Total Sales OF Stocks
today were 16O.2s3 shares. including:
American Sugar. $1,000; Burlington,
7.700; Chicago Gas, 1000; DistiiIing,
$500; General Electric, Il. 400; Louis.
Vile & Nashville. 6.3aO; National Lead.
$500; Northwestern. $500; Reading,
5000: st. Paul. 12.7O0; Western Union,
1900.