St. Paul daily globe., 1894-05-07
100000
To Loan on St. Paul Real Es-
tate.
St. Paul Title Insurance ; Trust Co
FINANCIAL.
New York.

New YORK, May 5.-The speculation
on the stock exchange today was mon
opolized by the industrial group, almost
half the transactions being in Sugar.
On the railway list Atchison was most
active, but was traded in only to the
extent of $500 shares, while the deal
lngs i'll the erangers footed up less than
5,oCo shares. The only interesting
feature Of the market was Sugar, which
was pressed for sale at the opening 10
realize profits OF the recent advance.
Opening IS higher, the price broke
per cent. when supporting orders caused
recovery of the entire loss, and then
The stock was held steadily until after
Il O'Clock. Another realizing move
ment was then started which sent
the figures down again. Support was
lacking and very Soon stop orders were.
reached, causing break that was not
checked until aloss of ~ per cent had
been experienced. Some of the shorts
who did not care to leave their lines
out over Sunday began to cover and,
their purchases caused a rally of ~
per cent. the closing sales being at IL
decline from yesterdays closing of "a
per cent. Sugar preferred rose a at
opening and declined IA, making a net
loss of per cent. There were rumurS
on the street to-day that perhaps the
settlement of the sugar schedule of the
tariff hill in the interest of the retiners
might not be easy as was anticipated.
and that further complications were
likely to occur. The industrialS sympa-
thiZed with the weakness OF their leader,
Distilling declining 11s to 233s, stop
orders having been uncovered at24. The
final sales were in better tone. the stock
recording recovery of q per cent.
ChIP1Un (NaS ~ 81 uifl, tip,
rally of 35 per cent. National Lead,
which gained Is in the early trading.
receded per cent. recovering n. The
rest OF the trust stocks were not dealt
in to any extent, and merely lost & to
a i'll the day. Atchison gained 1s. and
reacted a, recoraing decline Of IA
from yesterday. Of the gran.
gers, Northwest is unchanged. Bur-
lington & Rock Island Il
higher, and st. Paul d lower. Hook
ing Valley shows a decline of liz, and
Wheeling Lake Erie preferred 11s.
Nearly all the rest of the list being 1s(@
u lower; The exceptions are W. u, /;
Louisville & Nashville, Reading, Mis-
souri, Pacific and Tobacco were a small
fraction higher. and st. Paul, Minneap-
oils d Manitoba, which advanced per
per cent. The period Of greatest de-
preston vas after half past ii o'clock,
but slight rally took place in the
final dealings and the market closed
fairly steady,
The share speculation during the
week was Irregular and unsettled and
the last prices made III majority of
cases are below the closing figures of
Saturday. week ago, the more notable
declines being: New York Il New
Eaven. q; Wheeling 81 Lake Erie
rp For OH
Reading. ~; New Jersey Central, 2I
Duluth. South Shore d. Atlantic pre-
ferred, 2: Tennessee Coal and Iron pre-
ferred, 81; and Phoenix Mining, 5 per
cent. The shares which gained per
cent are: St. Paul, Minneapolis d
Manitoba, 4; Metropolitan Traction .211S;
Sugar, 2I.
The bond market today was dull and
without important change except that
Manhattan consolidated As declined II
per cent. The general tone of the mar
ket was firm. The principal changes
/ on the week are: Declines-Erie sec
onds trust receipts, ~; Utah Southern
| generals. z; Union Pacific collateral
trust, AZ. and Reading first pronauuces,
4: Reading seconds and thirds. 214, and
Reading thirds convertible. 211SS.
Advances = Missouri Pacific thirds,
Peoria, Decatur d Evansville firsts,
Wheeling q Lake Erie IS and Louisville
| IL Nashville. New Orleans d Mobile
seconds, per cent.
The Evening Post says: During ten
years past the notion of foreclosure and
extinction of an important railroad
stock has been slowly fading into a
| theory, the practice of which. under the
| disapproval of the banking interests,
was no longer to be looked for. Instead,
the company's creditors were expected
to share heavily in making good the
losses of their debtors. There have been
many signs of late that these taciI sur
renders of their rights by bondholders
Will no longer be tamely tolerated. This
is in many ways wholesome develop
ment. Its good results in the field of
bond investment cannot be doubted.
But ito influence on the shares OF bank
rnpt railroads will be an interesting
study.