St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-28
FINANCIAL.
New York.


exciting day OH the stock exchange by
of the Distilling and Cattle Feeding
company. 1t was generally understood
at the close of business on Saturday
that the funds required to take the COM
pany'S spirits QUO OF bond had been
practically assured and that impression
prevailed at the opening of business
this morning. There was consequently
a brisk demand for the company's stock.
which sold up to 22L4 OH the opening
dealings, gain of = per cent OH
Saturdays closing. Very soon. how
ever, came reports of hitch in
the loan negotiations, and on the an
nouncement by Russell Sage that They
had fallen through break to 1923 WAS
made. The trust people themselves,
however, refused to speak on the sub
Ject. anu traders came into the market
TO buy at the decline, sending the price
up to 20M. : Not for long was the'in-
provement maintained, very uncertain
feeling being apparent among the OPP
orators Ill the stock, and OH confirmatory
reports that the attempt 10 make the
loan in this city was a failure. the price
moved down to 1Sl5, and decline of So
from the highest OF the morning, and IL
break of Us per cent from the top
figures of Saturday. Purchases to cover
short contracts caused a recovery in the
final dealings of ] Il per cent, the last
sale being made at figure only p be-
low Saturdays final price. 1t was no
known at the close of business here
whether the compSny had given up the
fight for the loan, tor although it had
been abandoned here, there was pos
Sibility that the move might be yet sue
n n "a mel IN
said that some S2.000,000 was secured in
Chicago. Speculation in Sugar was
fairly active but somewhat feverish. An
early advance of q was quickly lostand
a decline of 311s was effected on the sale
of a big block of the stock for the
purpose of taking profits. There
were no supporting orders in the market
while this liquidation was in process.
nor was there, on the other hand, any
unfavurab!e news regarding the shares,
and when the transaction was conf
pleted. the stock moved up Is, to 1I3.
with subsequent reaction of "a per
cent, making decline of rs on tine
day. Little was done in the other in
dustrial shares. except the movement
which resulted in all advance of TX in
in General Electric. and ~ in Laclede
Gas preferred. Tobacco sold up per
cent in the morning, to 107, dropped to
los, rallied to 105, and closed at 104,
net loss of per cent. Lead preferred
recorded decline of p. In the railway
list the trading was generally firm with
occasional reactions in sympathy with
the depression in the leading industrIals.
Most of the shares dealt in appreciated
in value, and at the close a firm tone
prevailed and general advance was
established, ranging from Is to ~ per
cent, the latter Louisville d Nashville,
~ Northern Pacific preferred, IL
Pittsburg, G. G. G. & st. Louis, II Bur
llngton IL Quincy, in st. Paul, Denver
u Rio Grande preferred, Norfolk &
and 81 in Western Union. Exceptions
were Lake Shore, which shows a de-
cline of l per cent. and q few other
shares which are down 7s@@ per cent,
The bond market was unsettled DUR
ing the day, but the main tendency was
toward higher prices. The transac-
tons were large, aggregating Sl,S03, 500
The most important changes were:
Advances = Northern Pacific firsts
registered, ~; Northern Pacific cou-
pom IS, IA; Oregon Navigation 5s, trust
receipts, 2; Peoria & Pekin Union sec.
onds, ~; Texas Pacific firsts and 1lli-
nOlS central As or 1916, IA; Wisconsin
Central firsts, New York, Lackawanna
& Western tirsts, and Hooking Valley
IS, l.; Hooking Valley As, "a per cent.
Declines = Northern Pacific seconds,
rs; Atchison, Colorado IL Pacific firsts,.
|; Reading first preferred and Oregon.
Navigation Collateral Trust IS, l per
cent.
The Total Sales of stocks 1is /,
today were 254, 1862 shares, including
American Sugar. IS, 500; Burlington, 20, :
200: Chicago Gas, 1900; Chesapeake d
Ohio, $500; Distlllers and Cattle Feed
ers, 11S,2Oo; General Electric, $500;
Louisville &,Nashyille, IL, 400; Northern
Pacific, 2,7O0; Rock Island, 3,790; ST.
Paul, 14,500; Western Union, $500.