St. Paul daily globe., 1895-12-23
UPSET IN STOCKS
OEJIOR ALTON RULED At
THE OPENING. BUT a CALM
ENSUED.
PRICES MOVING UPWARD.
RECOVERY OF TONE, THOUGH
THE FOREIGNERS CONTIN-
UE TO SELL.
THE FLUCTUATIONS CONTINUED.
Review of the ConvuIsive Antics
of the Market During the
Past Few Days.


at the opening of business on the stock
exchange today was even more de-
moralized than III the initial dealings
OF yesterday. London cables showed
lower prices, but reported a better
tone prevalent at that center. Never,
theless the foreign houses continued
to unload American securities. and the
decline Of values in the first quarter OF
an hour was very severe and extended
to per cent in Lead preferred. Sub
Sequently Cordage guaranteed reacted
Is per cent The decline in the lead
ing railways was headed by Lake
Shore, with a break of Z per cent.
The other Vanderbilt stocks saggeG
sharply. The tiurries then subs-ded,
ana prices took an upward turn. Dis
tiliing and Lead improved per cent.
Cleveland. Cincinnati, Chicago x St.
Louis, Burlington. Canada southern,
Lake Shore and New York Central
per cent. The market was feverish
throughout the day and prices f1uc>
tuated rapidly, the changes being very
wide. Consolidated Gas broke So per
cent TO l3f, rallied to 139, reacted to
136, recovered to 14O, and closed at
1.SS12. In the final dealings there was
considerable pressure against the
grangers and coalers, which resulted
in heavy losses. The market closed
weak. at losses on the day ranging
up 10 lOl2 per cent in Cordage guar
anteed.
Seldom, if ever, has the stock ex-
change been convulsed to such a
degree, and for so long a period, as in
the present instance. Heretofore pan.
les have quickly subsidized and the bot,
tom has been reached by rapid stages,
but upon the delivery on Tuesday last
OF the presidents message on the Nene-
zuela affair the depression on the stock
board has steadily increased. The
a1ac- fC,. ? l,.a
mated at about 100000 shares, which
breaks all previous records. At the
extreme low point of today the more
important dealings, compared with the
week, were as. follows: Consolidated
Gas. 2412 percent; Nsw Jersey Central,
171s; Metropolitan Traction, 16A; Lead
preferred, 1872; Rock Island 1915; Rub
Der preferred, IS; Pullman, 1524; st.
Paul. 15l2; Lake Shore, 147s; Burling-
ton, 14$s; Louisville, 141a; Cleveland,
Columbus. Chicago & st. Louis, 1412;
Kansas < Texas, 151s; Lackawanna
and. Chicago Gas, 1875; Lake Erie &
Western preferred. 1S3l Lead, common,
Southern preferred, 128s; Distilling,
12$s: Sugar 121s; Manhattan and Iowa
Central preferred, y; Pacific Mail,
IL; ST: Paul & Omaha, ll12; Delaware
quehanna G Western preferred 117s;
General Electric, IFS; Missouri Pa,
citic, Il; Denver & Rio Grande pre-
ferred, 1024; Colorado Fuel & New
York Central. 10A; Illinois Central, 10,
and a number which have fallen less
than ten points.
The dealings for the week reached
the extremely large total of 2,253,G coo
shares The total sales today were
gar $4,000; American Tobacco, 1850;
Atchison. 7,100; Burlington, II 100;
Chesapeake & Ohio, $500: Chicago Gas,
14,GO0; Distillers and Cattle Feeding
company. 1870; Kansas & Texas pre-
ferred, 4,50O; louisville & Nashville,
5000; Manhattan Consolidated, 400;
Missouri Pacific, $500; National Lead,
$500; Northwest, $500; Reading, $500;
Rock Island, 9,200; St.Paul 1880; South
ern Railroad AGO; United States
preferred. u, 40G; Western Union, 6,000.
The Generalization in prices of rail-
way and miscellaneous mortgages
which occurred during the week was
attributable to the same influences
that dominated the stock market. The
dealings were unusually heavy, and the
depression in prices was very severe in
the issues having foreign market.
The trading for the European account
was very heavy, aggregate sales being
S13, ,542, GOO. The greatest declines on the
week include: Cordage firsts, trust re-
ceiptS, 1872; Fulton Elevated firSts, 13K;
Wisconsin Central firStS, trust receipts,
13$4: Kansas & Texas seconds, 91a; do
1irsts, 6; Atchison adjustment As, 91a;
do is, IA; do IS, trust receipts, 81: do
seconds. trust receipts, f1a; Kansas City
& Pacific firsts and Chesapeake & Ohio
41as, S12; Southern IS, s; Chicago &
Northern Pacific firsts, trust receipts
IA; Colorado Midland firsts, trust re-
ceipts. Wabasha seconds and Texas
Pacific firstS, T.. do seconds, 4; Union
Pacific, Denver & Gulf firsts and Ore
gon Short Line IS, trust receipts, 6%;
do consol 5s, trust receipts, 71a; ST.
Louis Southwestern seconds, Rio
Grande Western firStS and Northern
Pacific consols IS, 6A; do seconds, 6;
do collateral trust 6s, 534.
Government bonds ruled firm during
the greater part of the week, and some
issues scored slight gains. Towards
the close, however, there was decided
slump in values. New As are down .
per cent: rs, ~; old Is, reg do coup
q per cent. The total sales were only
$500 which goes to show that the
panic did not extend to the government
bonds. Today's bond trade reached
sales OF s. GS7, GOO. The trend of prices
was sharply downward, and Southern
IS sold down to 50. as against So at last
nights closing. They subsequently rail-
lied tC S81". and closed at S. Toward
the close there was a stlffening in val
ueS of the speculative issues, but clos
ing prices were considerably below yes
teYday's closing.
The following table elbows the fluc-
tuatlOnS of the leading railway and
Industrial stocks yesterday: