St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-21
FINANCIAL.
New York.

NEW YORK. Sept. 29.-After5 weak
opening the stock market steadied itself
quickly and rapidly, gained strength,
which was the prevailing characteristic
OF the dealings throughout the rest of
the day. The buying was steady, though
not in large volume, except in Sugar
and Chicago Gas. WEIGH were again the
leaders III the trading. London was Il
small seller of the arbitrage specalties;,
chiefly ST. Paul, but not to an extent
sufficient to affect the market unfavor-
ably. While there was not little buy
ing for the long account, the bulk of the
purchasing was by the shorts, who were
DESTROYS of covering their outstanding
contracts in view of tire upward
tendency of prices. Chicago Gas
rose n in the opening dealings.
receded % per cent and then took an
upward turn, advancing steadily on
large purchases, induced by the very
general belief that there was no merit
in the application for receivership,
and that it was purely stock jobbing
new point has been raised in the case,
and the general attorney for the Gas
company is reported as having given an
opinion that it will be Ineffective. The
improvement continued up to the close,
the last being the best price of the day,
~ per cent above the lowest of the
morning and Az higher than yester-
DAYS final sale. Sugar opened
unchanged, and then on bear
drive .receded % per cent, but the
ready absorption of stock offered. indi-
eating inside support, forced the shorts
to cover. Still the advance resulting
was fought for time, and it was not
until late in the afternoon that the up
RI
blocks of the stock were bought during
the last hour and the price went up to
974. gain of per cent from the bot
tom figures of the day with a final re-
action of Is, leavinga net advance of
rs per cent; the preferred shares rose
% per cent. The granger group moved
irregularly. st. Paul. under the cover
ing of shorts, advanced "a, but lost the
improvement Oh sales by London
houses before noon. During the after
noon, Oh moderate buying, a rally of Il
took place. On Chicago selling orders
Burlington 81 Quincy gave way u per
cent, quickly rallylng q and again los
ing the entire Improvement. closing 4
below the lowest and similar fraction
below yesterdays closing. Trading in
moved within range of q per cent,
closing unchanged on the day. Some
little question was raised as to the rate
OF the dividend to be declared toinor-
row, but the general drift of stree:
opinion is that the usual per cent will
be declared. Northwest gained "a per
cent OH purchases of 200 shares. Spec
ulation in Distilling has quieted down.
An opening decline. of g was fol-,
lowed by an advance of q. the
last sale being only e below the best
Louisville & Nashville receded a, adj
vanced "a. and reacted Is, leaving g
gain. In the rest of the list the deal
ings were light. but in most cases the
closing figures show an Improvement.
speculation being strong at the close.
Tobacco is "a per cent higher, Leather
preferred and Minneapolis & ST. Louis
preferred IL, and the general market,
L@%, with some few exceptions in
which losses were made. including New
Jersey Central II, and Rubber pre-
ferred per cent.
The bond market was fair In tone
today on moderate volume of business,
the sales aggregating 1924 200. Heading
As again led in the transactions. The
principal changes OH the day were:
Advances-St. Paul firsts. Fargo u
Southern assumed and New York Gem
trail debenture As g per cent; Louisville
& Nashville Southern and Northern
Alabama oonsol IS ~; do Pensacola
and Atlanta firsts l /; Union Pacific gold
Is IL; Savannah and Western firsts,
Iron Mountain SIS and Oregon Short
Line Is l.
Decines-Ohio Southern firsts IL
per cent; Union Elevated trsts IA;
Chicago Gas firsts, Lake Erie & West
ern seconds and Seattle. Lake Shore &
Eastern tirsts trust receipts per cent.