St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-06-05
G. ERNST & Co
investment Bankers.
Dealers In First.Class
Bonds, Bank Stocks and
Commercial Papers.
Money to loan In Large Amounts.
Germania Bank Bldg, and Temple Court,
ST. Paul. Minneapolis.
FINANCIAL.
New York.

New YORK, June 4. - Wall sire let
review: The week opened on the stock
exchange with fairly active specula-
ton and strong tone to the trading.
London was factor in the advancing
tendency of prices. both as buyer in
this market of st. Paul, Louisville &
Nashville and other of the arbitrage
stocks. and also by reason of the i'm
provement of American securities on
the London stock exchange. One Of
the principal influences of the specula-
was the Unexpectedly small decrease In
the st. Paul earnings for the month of
May. A loss of 100000 at least had
been anticipated. and when only about
short interest in the stock was
trifle scared, and began to
cover. Purchases of the rail way list In
general were stimulated, but the indus
trial stocks did not sympathize In the
movement except Tobacco, Distiliing,
Lead and COrdage. Sugar was notably
weak, and on heavy sales, said to be
mainly to realize profits of the recent
advance, declined 256, 10 1927, the low
er figure inducing purchases which
caused recovery Of ri ;but in the final
dealings another selling movement was
developed, which resulted in a reaction
of per cent, tue last sale being made
at a decline of on the day. Both for.
eign and local buying was good in St.
Paul, and an improvement of 136 was
made during the morning. of which *
was lost in the late dealings. Burling-
ton was not largely dealt in, but was
bought moderately for the Boston &C
count. and rose l per cent, reacting Il
In the later trading. Northwest gained
q and Rock Island Il.
Selling orders In Chicago Gas were on
the board at the opening for the &C.
count of some of those who acted as the
bull clique last week, and were willing
to accept the profits shown by current
prices. The sale sent the stock down
II; but all offerings were readily alb
sorbed. and quick rally of ~ was
recorded. followed by reaction OF per
cent, the final sale being % per cent
above the lowest point touched.
In the rest of the list the volume of
business was light, but during the
greater part OF the day the dealings were
strong in tone. Toward the close, how.
ever, an easier tone prevailed, and the
market closed slightly heavy. Advances
were recorded of per cent in Tobacco,
| a in Lake Shore, 1H ia Louisville and
Oregon Improvement, and l in Canada
Southern, Union Pacific, Toledo &
ALI ATUUTs
Declines were registered OF per cent
in Great Northern preferred, ~ in
Canadian Pacific and in National Lin
seed, Louisville, New Albany, Delaware
& Hudson and Tobacco preferred.
The bond market was generally firm,
the principal changes being:
ADMINISTRATION As registered, 2;
Oregon Improvement IS. ~; United
States Cordage firsts, ~; Burlington
ConvertiDles, St Joe & Grand Island
1rsts and st. Louis & San Francisco
general 5s, each per cent.
Declines-St. Louis u San Francisco
consols, Is, 3; Louisville & Nashville
unified, As, N; Oregon Navigation 81,
and Missouri Pacific consol Is, each ";
Northwest Sinking Fund IS, per cent.
The Evening Posts cablegram says:
Tine stock markets were idle but steady
today. The chief feature was further
rise in gilt-edge stocks and the recov.
cry in Americans. The latest named
closed at the best. Louisville made the
chief gain. 1t is said that there will be
trouble IN the grain trade here, but no
failure is yet announced.
Half million pounds In gold is COM
ing from India. This is important, as
it STRENGTHENS silver. Indian exchange
is rising.
London Closing-C0nsolsf for. the ac-
count, 101 7.l6; consols for money. lO1 u:
Canadian Pacific, e73t; Erie, 145fi Erie