St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-16
FINANCIAL.
New York.

New YORK. March 15.-There were
signs of liquidation of small bull pools
in the stock market today, and it was
evident also that the short interests
were lmbued with belief that the con-
dtions were favorable for a downward
movement.
The speculation was less active than
for some days past. The prospective
passage of the seigniorage bill 0he vote
was not announced until about the close
OF the markeD had rather depressing
influence Oh the speculation by reason
of the fact that the bears prophesied
dire results if it should become law,
suggesting that heavy gold ex-
ports would follow and that Amer
lean securities would depreciate in
value on the London exchange.
Union Pacific's sta tement for January,
which showed heavy decrease in net
earnings. also tended TO help the short
side Of the market. But withal there
were periods of strength, and in the
late dealings there were evidences OF ii
desire to buy back many of the stocks
sold early in the day. Within the last
quarter of an hour the temper of specu-
lation underwent radical change, and
on very strong buying all advance of "a
al per cent was made in the general
list, and 21a per cent in Cordage. But
while the market closed strong, ma
jOriy of the list was below the closing
figures of yesterday 4@115 per
cent. Chicago Gas lost e per
cent at the opening, out rallied,
and under good buying advanced "a.
but before noon had reacted per cent
In ina n nf +
took place, of which a was lost at the
close. London was seller of the arbi-
TRACE specialties, including st. Paul,
which sold down at a final recovery of
q. The other granger stocks lost a az
on the day. General Electric opened Il
higher. but was at once subjected to a
bear raid. which sent the figures down
24. III the final trading sales to cover
brought about recovery of l.. Atchison
was sold by London and Boston, yield
ing a, with late rally of Il. Just be-
fore the close strong buying movement
was developed in Cordage, which had
reacted 4 in the morning, and the
shares sold up ~ per cent. receding d
at the close.
The railway and miscellaneous bond
list was rather heavy for the active Sc
curities, but some of the usually inact-
i've bonds made advances as follows:
Iron Mountain firsts. Cairo. Arkansas
& Texas division. 8; Michigan Central
rs. 2; Lake Shore seconds coupon and
Missouri Pacific consol Is, each u; do
| thirus, L; Galveston, Harrisburg Il San
| Antonio firsts and st. Louis Il San
Francisco seconds, each 1 per cent.
Declines-Evansville d Terre Haute
firsts and General Electric deb
enture SIS, each 2; Atchison seconds,
II; c., G., G. & Indiana generals and
Reading second preferred. each l per
cent.
The Evening Post says: Several
events in the international markets
were noteworthy today, One was the
| slight recession in our sterling exchange
rates, due not alone to the continued
GullneSs in that market but also to the
sales of bills against this weeks pur.
chaseS OF our securities. These pur-
chaSes did not, however, continue to-
day. Unfortunately, the same miSgiv-
ings over the SeigniOrage bill as affected
local Wall street had their Influence to-
day in London. Not less remarkable
than the turn in sterling was the sudden
breaking OF the Bombay money market.
The chief bank in the city has all this
month maintained its discounts at the
panic rate of 10 per cent. Today the
situation changed and the official rate
was twice reduced, ending at per cent.
1t is reasonably certain that heavy sales
of Indian government exchange are now
having their due effect. Yesterday
100000 rupees of such drafts were sold.
In the preceding fortnight IL. 500, 00U were
disposed Of; total sum of more than
5000, COZ. The presentation of these
drafts i'll India, releasing the govern
ment's boarded silver coin, was sure
eventually to check the panic.
The Total Sales Of Stocks
today were l45.l shares. including:
Atchison. II, 400; American Sugar. Is. 200;
Burlington, $500; Chicago Gas. 1920;