St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-23
FINANCIAL.
New York.

New YORK, Jan. 22.-The feature
of today'S stock market was the specu.
lation with Sugar shares, which were
very actively traded in. A selling
movement was organized at the opening
of business, based OH the belief that the
tariff debate in the house would demon
Strate that the sugar refinerS had little
to hope for in the way of protection.
The first prices made showed break Of
~ in Sugar preferred and rs in the
common, followed by a further decline
of % in the latter. Insiders then began
to buy and recovery of "a was made
in preferred and l per cent IN the COM
mon, which induced fresh drive on
the part Of the short interest specially
directed against the common, which re-
coded a, the preferred reacting a. The
debate III congress not taking the turn
anticipated, being devoted mainly to
the bounty question, the bears grew
frightened and began to cover
their purchases. supplemented by other
buying rallying the common "a and the
preferred p, with final reaction of "A
in the former. The loss on the day was
~ on the preferred and % on the COM
mon. The general list was weak at the
opening and fraction lower, except
for American Tobacco, which was down
rs. London was in the market as a
seller of st. Paul, Atchison, Louisville
u Nashville aud Union Pacific and the
London market for American securities
was weak, assisting the depression in
this market. The early trading was
heavy, but some good buying orders
coming in from the West in Chicago
Gas, from Philadelphia. in the grapgers,
and from Boston i'll AtchiSOn and Gen
eral Electric. the temper of speculation
underwent change and prices gener-
ally recovered the early loss, while in
some instances higher range of quota
tons was established, notably in Chicago
Gas, which had receded ouly Is, and
sold up II, Evansville & Terra Haute
advancing l and the general list l4@
IL, the grangers being prominent in
the rise. A slight reaction followed
before II O'Clock, mainly due to the
dizziness which prevailed and the lack
of supporting orders.
Louisville IL Nashville showed most
weakness, recording total decline of l
per cent from Saturdays prices. Dur
ing the succeeding hour and half the
market was firm on small volume of
business, and values appreciated 1S(01
per cent, except for New York, Chicago
& st. Louis second preferred, which
fell Off per cent, but subsequently, re-
covered the loss. A brief period of de-
preston about 1880 o'clock was fol-
lowed by all upward turn i'll which the
SpecialtieS were most prominent, and
later by decline which was led by
Rubber, Rock Island and Canadian
Pacific. After delivery hour the specu-
latIon again became firm and held this
tone to the close. the final sales being
made at an advance on the closing
figures of Saturday in majority OF
instances, notaDle Of which are Illinois
Central, Louisville. New Albany, Kan
SaS d Texas and Duluth, South Shore q
Atlantic, IL in ST. Paul & Duluth and
in Colorado Fuel and Iron, and III in
Norfolk q Western preferred. The
shares which show the most marked
decline are Rubber, ~; Pullman, IL.
and American Tobacco and Colorado
Coal and Iron. Wells Fargo sold at
l24, decline of 3 per cent. The rail-
way and miscellaneous bond market
was shade easier during the morning,
but was strong throughout the after
noon and to the close.
The Evening Post says: The small
spectators look for a sharp reaction,
and this perhaps explains why no such
reaction came. At the start profes.
Slonal sellers were both most numerous
and most vociferous. London helped
on the sales, although today's foreign
selling chiefly originated doubtless in
New York. 1t found a congenial atmos-
phere I'D london, where the government
move in the Indian exchange market
has caused mixture of perplexity and
dismay. But these early sales, though
at first the result was lower prices, met
with very unlooked-for resistance.
The granger stocks especially were
bought shade below TIE opening i'm
as large quantities. as .ders dared to
offer, and the selling movement slack
ened. and rapid recovery followed in
stantly. The buying was not ag-
gressive. but it was quite enough to
scare the spectators for the decline. as
a consequence of which even the plans
for continuous break in Sugar certifi-
Gates were abruptly checked.
The Total Sales OF Stocks
today were 217.6OO shares. including:
Atchison, 100; American Sugar. Sc, 200:
Burlington u Quincy, $1,000; Chicago
Gas, $500; DIStlllers' and Cattle Feed
ers'. 6.200; Louisville & Nashville.
1900; New YORK q New England, 800:
Northwest, 10000; Reading. 4,OuO; Rock
Island, 1909; st. Paul. 3S.700; Western
Union, 15,400.
New York Money.
NEW YORK, Jan. 22.-Money on call
| easy at per cent: last loan, |: closed
a Drs..