St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-11
FINAN CAAH..
Rev York.

NEW YORK, Jan. 1O.-The volume of
business on the stock exchange today
was lighter even than on yesterday, and
accompanying the dizziness was marked
depression which, except during one or
two brief intervals when slight rallies
took place, prevailed throughout the
day. Sugar was most prominent in the
dealings, and furnished nearly third
of the total transactions.
In the early dealings the common
stock rose l 4 per cent on purchases in
duced by Washington reports favorable
to an increased tariff on sugar, and also
by the improvement in the trade. But
the improvement was short-lived. the
failure of majority of the stocks to be
reported at the annual neeting3 having
depressing influence on the ShareS,
and sending the common stock down
325 and the preferred II. In the late
dealings the common rallied 8 per cent.
reacted 81, recovering p at the close.
Various theories were offered to explain
the fact that quorum Of the stock was
not on hand at the meeting. 1t was
suggested that by reason of the large
increase in the number of stockholders
and the wide distribution of the shares
throughout the country it was more
difficult than usual to get in the
proxies, and this led to a rumOr that
the large stockholders had been
quietly getting rid of their shares. a
contingency which the traders on the
exchange did lot regard as entirely
favorable TO the value of the property.
1t was more generally believed, how
ever, that the management of the COM
pany had arranged it SO that a quorum
should not appear. being DESTROYS that
the figures Of the annual statement
should not be made public at this time,
and become available to the tariff MAXI
ers, with the prospect ahead of their
being used against the company III its
fight for reduction in the sugar Sched-
ule, and for an increase in the figures
of the Wilson bill. This Is the more
probable theory, and if it be correct it
is an argument in favor of an apprecia-
ton i'll the shares rather than a bear
point.
The usual semi-annual dividend on
C., G., G. u st. l.. preferred during De-
cember not having been declared has
been subject of discussion for some
days past, and has led to sales of the
shares mainly of the common, which
were unusually large today, causing
drop of ~; the preferred on sale of 100
shares dropped per cent to 81. st.
Paul was sold in good-sized blocks OH
the belief that the earnings of the road
for the first week in December would
show serious decrease. London was
also in the market as seller, but the
reaction in the price of the stock did
not exceed Is per cent, and when the
figures were published showing small
er loss than was expected there was
some buying, but the last sale was at
recovery of only Is per cent from the
lowest. A drive was made on Burling-
ton d Quincy on reports that the next
dividend to be declared in February
would be at reduced rate and it was
offered at 1B without, it is said. any
takers. New England made gain of
on the day after an early loss of an
equal percentage. The strength of the
stock was largely due to the setting on
foot of a plan to form voting trust
under the management of Charles Par
sons, and purchases were also made
under the belief that Mr.. Platt was TO
be made permanent receiver. General
Electric was in good demand during the
morning and recorded an advance OF II
per cent, but receded with the rest
the market during the afternoon, IRE k