St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-13
FINANCIAL.
New YOrk.

NEW YORK, Jan. 12.-It was very
dull day on the stock exchange, the
total sales being less than transactions
of single hour on an ordinary active
market. The tone of the speculation
was. however, much heavier than on
yesterday, and the traders who sold for
decline then were today anxious to
cover. Perhaps the most potent nflu-
ence III the change of speculative mind
was the more favorable prospect of the
passage Of the bill providing for coming
the silver seigDiOrage now in the treas
ury, which the traders accepted as
likely to increase the volume of Specu-
lative investment. Another factor in
the improved conditions was The an
nounctment in the Washington reports
that the secretary of the treasury was
determined upon the issue of bonds un-
der existing laws calling for a high
rate OF interest if congress did not enact
new law giving power to issue lo@ i'll
terpst bonds.
The discussion of the gold export
question and the reported understand
ing arrived at by the banks not to fur
nlSh specie for shipment abroad, thus
compelling drain on the treasury re-
serve in case gold is wanted for eXporta-
ton TO Europe, did not seem to have
y
believed that gold will be withdrawn
for immediate shipment. London
houses were without many orders, but
did sell Louisville q Nashville and ST.
Paul moderately. Union Pacific was
neglected, and did not move even on a
reported informal agreement of the
several interests upon reorganization
plan which c0ntemplates limiting the
fixed charges to $4,000, 900 yearly and
asking the government to take a 3
per cent bond for its Indebtedness
and the other security holders a
four per cent bond. This assumes the
total indebted ne SIS of thecompany to be-
S300.000,0 600. The plan also contem-
plates giving the government MAORI
ty of the directors. and for this reason
and because OF the further provision
that the new bond issue be made a
basis for national or state bank circula-
ton congress is expected to favor the
plan. The stock of the company closed
today at yesterdays final figures after
reactlng 4 at the opening, only 500
shares changing hands. st. Paul led
the market i'll the dealings, declining 3I
at the opening, selling up II
Oh covering of short contracts
and late London buying. In the
final dealings reaction of &c oc-
CURED, leaving gain of "a on
the day. Sales induced by the pas
sage of the Louisville & Nashville
dividend broke the shares of the COM
pany % per cent in the first dealings,
after which rally of q took place, and
then on renewed selling the price
dropped ~. recovered 1 Is and lost a,
closing % below yesterday. Sugar fluc-
tuated within a limit of 136, advancing
g on the day on buying by insiders.
Western Union opened 4 lower and
then made steady advance of ~ per
cent, the highest point being touched in
the late dealings. LII the last three sales
"a per cent was lost, but there is a clear
gain Of L per cent. Save for brief pc
RODS OF weakness at the opening and
about l O'Clock the general market was
firm and closed with all upward tend
ency to prices, the Improvement rang
ing from 4 to 234 per cent. the latter
in Manhattan, which had COM
pleteiy recovered from yesterdays
depression caused by announce
ntnt of an opposition rapid transit
The Evening Post says: Such specu-
latOrS as engaged in today's market ac-
cep!ed the present bond issue discus
Sion as favorable element. fhis was
partly because of a report which clrcu-