St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-27
FINANCIAL.
New York.

NEW YORK, March 26.-The very
general impression which now prevails
that the president will veto the seigu-
forage bill had the effect of strengthen
ing the Wall street markets today, and
undoubtedly checked the bear impulses
of those operators who take the short
side of the market on the slightest
provocation. The decline in sterling
exchange rates was also an element of
strength in the speculative situation,
inasmuch as it removed all likelihood of
gold shipments for the present. AT the
opening OF business On the stock ex-
change generally firm tone prevailed.
and the first prices made were in the
main in a small fraction higher than
the closing figures of Saturday. Sugar.
however, was an exception, OPEN
ing q per cent lower. and reced-
ing e additional, doubtless the effect
of the bearish view of the situation
taken by II. o. Havemeyer in a pub
lshed interview. But good buyers
coming in at the lower level Sugar
quickly moved upward, gaining IL per
cent, the purchasing movement being
assisted by the announcement from
Philadelphia that the appeal of the gov
eminent in its suit against the Sugar
trust has been decided against the gov
eminent. In the final dealings the
stock lost Is per cent. The general
market was strong in tone in the early
dealings and up to noon the tendency
of prices was upward. the volume OF
business being at the same time
very light. American Tobacco led
the advance, being in good de-
mand OH the reports to the effect
that the annual statement shows the
company made profits in excess of the
| y per cent dividends OH the stock. The
Improvement in Tobacco continued dur
| ing the early afternoon, the stock
| touching S312, being AZ advanced on
Saturdays closing price. In the last
| hour, realizing sales caused reaction
| or q, leaving net gain of 2s4 on the
| day. In the general list a reaction
took place after midday which was
merely fractional and of brief duration
and which was succeeded by another
| upward movement in which Lake
Shore was most prominent, selling up
to 131, an advance from the last pre-
viousssale OF 21ss; in the final sales re-
action of "a took place. Shortly before
the close, Richmond Terminal preferred
broke per cent and the general list fell
Off fraction, but in the final sales there
was partial recovery, and market closed
frmer, the leading advances on the day
not already noted being 2s4 Minneapolis
and st. Louis preferred; IL Tobacco
preferred; ~ Consolidated Gas and
New Central Coal; II Canada Southern
and Illinois Central. and per cent New
York & Chicago. and ST. Louis first pre-.
ferred; and Wells-Fargo Express, Tole
do and Ohio Central and Pittsburg, c.,
c. q st. Louis preferred each show de.
cline of / per cent. The settlement OF
the differences of the Distilling aud
Distributing companies. by which the
latter Is TO dispose of all the
product of the former and to buy its
goods at the Invest price made
by an independent producer, did not
have very buoyant effect on the stock
of the Distillins company, for after an
early advance of u per cent the shares
sagged off 111s, rallying 4 and closing y
below Saturdays last price. Reading
was sold freely by a Philadelphia pool.
but lost only a per cent on the day.
| st. Paul gained q per cent and was
bought in round lots on its very fayOra.
BILE statement OF net earnings for Feb
| ruary. The railway and miscellaneous
] bond market was strong throughout the