St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-07-10
FINANCIAL.
New York,

NEW YORK. July 9.-Ihe early deal
ings on the stock exchange were weak
III tone under the influence of d heavy
market for American securities in Lon
don, coupled with sales of the internal
tional stocks here for the foreign ac-
count. The depression in our securities
abroad Was due TO an impression that
gained ground there, due TO the presi-
dents proclamation, that the strike
had reached proportions which seriously
threatened the peace of tile country
1he beans took advantage Of the sIt,ia-
ton to make general attack on the
market which was especially pro-
nounced in Chicago Gas. This property
was particularly sensitive i'll view of
the disturbed state of affairs in Chicago
ana there was talk on the board to
the effect that investments in that city
tinged with an element of insecurity
by reason of the turbulent character
OF lis laboring classes. Chicago Gas,
under free selling, broke 2@S. Pullman
3. Louisville IL New Albany preferred
81, Wheeling d. Lake Erie preferred
Is, Denver & Rio Grande preferred
Ia, Delaware Il Hudson IL, Pittsburg,
Cincinnati, Chicago IL st. Louis and st.
Paul Il Omaha preferred ~, Rock ISL
and and Baltimore u ONO l. After
midday, the beneficial effects of the
presidents proclamation became appar-
ent III the adVlceS from the report which
recorded the absence of riOting. and
an increased movement of trains.
This checked the decline caused, the
shorts to cover and induced the buying
back OF stocks parted with during the
morning. Confidence was being restored
III the resources of the government, and
with 1t came quick recovery in specu-
lauve values. During the afternoon
prices rallied steadily, with occasional
reactions, due TO the efforts of the bears
to stem the tide which.had set in strong
ly. Chicago Gas made the greatest re-
coVery, selling up rs, Wheeling IL Lake
Erie preferred rallied rs. Baltimore Il
Ohio rs, and Rock Island l. Sugar was
notably strong. and advanced 81, with
final reaction of e, making a gain of
acted only moved up;1 per cent; Bur
lington, which had lost 81, advanced "a.
Missouri Pacific, in which the decline
was Is, moved up IS, with final loss of
Il. Pullman was bid up to f54 at the
close, gain of 2 per cent from the low
point of the morning. The final deal
lngS were quite strong in tone, and with
some very few exceptions, in which
fractional reactions were made, the
market closed with an upward tendency
10 prices, and III many cases at an adj
vance on the final sales of Saturday. In
majority of cases, however, the early
losses were not fully recovered, and the
list of declines Is larger, the losses
latter Louisville, New Alban pre-
ferred, "a; Denver d Rio Grande pre-
! ferred, 2&35; Delaware IL Hudson, IL /;
| ST. Paul u Omaha preferred and Pitts
burg, Chicago, Cincinnati IL st. Louis,
per cent; Pullman, l per cent; Des
Moines and Fort Dodge preferred sold
at 33, against 2619 the last previous sale.
| The railroad and miscellaneous bond
market was generally weak all the day,
the leading changes being:
DeclineS-Northwest extension tours
and San Antonio IL Arkansas Pass tours,
,; Rio Grande Western tirsts, u; u. 5.
Cordage tirsts. Edison illuminating
firsts, Mobile az Ohio As, Peoria IL East
ern tirSts, Susquehanna IL Western
| generals, st. Paul, 5 NJ. firsts and
! Advances-Michigan Central IS of 1881.
2, and Brooklyn City firsts, ia pei
| cent.
The Evening POSTS London cable.
| gram: All the stock markets were flat
| today on the Chicago troubles. Ameri-
cans opened fiat, ST. Paul and Northern
! Pacific leading III the decline, but raj
| lied slightly at the close on the procla-
nation Of President Cleveland. Failures
are expected at the settlement, which
begins tomorrow, but nothing really
serious. The continental demand of
| gold is increasing.
The Evening Post says: Early dis
patches reported London as frightened
at the presidents proclamation, believ-
ing it to signify desperate situation.
But there is not the slightest probability
that such AN interpretation was seri-
| Ously placed Oh tile document IN Lon
| don or any other place. There were
sales of stocks for Europe i'm our early
markets, but they were utterly ms. "