St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-03-05
FINANCIAL.
New York.

NEW YORK. March Upon the an
nouncement of the adjournment of cons
gress on the stock exchange today a
cried "Hurrah." Al the opening of
business the market was strong and
active, there being an especially good
demand for Sugar. The upward move
ment was, however, quickly checked by
free selling of the arbitrage stocks for
the foreign account, followed by sales
by the local bear traders who made ALI
Of an unfavorable decision by the Unit
ed States supreme court OH the patent
case, which had been decided against
the patent in the courts below. The
stock broke IS to %, rallied TO 2776 on a
denial of the reports. and fell off to 2556
when the decision was actually handed
down, declaring the patent void.
During the last half-hour there was
sharp upward turn in the
stock, the price touching 2715 on the
covering of short contracts, the bears
becoming DESTROYS OF hauling in their
lines when when they realized that the
decision simply left the General Elec-
tTlC Ill IT'S piSoelIt pUSlIlUu. III Tie maj
trading reaction of = per cent took
day only a per cent. The highest price
touched by the shares this year was
3515 Oh Jan. 10, aud the lowest figures
were made today. The action Of the
court has been largely discounted, but
the depreciation of tue property is due
as much to the general speculation de-
preston as anything. None of the cleo
trio stock is much dealt in on the New
York stock exchange; the only one in
which any trading had been done since
Jan. is Edison Electric of New York.
which broke from 102 Oh Jan. 2 to 95 OH
Jan. 80 with a rally to 81 on Feb. %,
which was the last sale. The market
generally became heavy before the close
of the first half hour. Reading show
ing most weakness and selling down
to ", recession of 2 per cent from
the previous safe. In the final dealings
the stock regained p per cent. The de-
Ginning tendency OF the general list con-
tinued until about O'clock, Sugar be-
ing sold in heavy blocks and breaking
from 9319, the high price of the morn
ing. to 9l15. with a quick rally to 9S5S
and final reaction OF Il, making a gain
on the day or a per cent. Other shares
also recovered sci per cent but be-
fore 2 O'Clock there was renewal of
the selling. in which Delaware 81 Lack
awanna fell eff ~ on the general
market reaction. The temper Of specu-
lation underwent a marked change soon
after delivery, and the sellers the
earlier part of the day became buyers,
the purchasing movement lasting TO the
close, which was strong in tone, with a
recovery of 11SM4 per cent. the latter in
Chicago Gas and New Jersey Central.
Gains on the daySwere established of IL
in Cotton Oil, in Chicago Gas and q in
ST. Paul, Distillng and New JERSEY
Central. Declines were made of IL in
Reading, 2 in Quicksilver preferred. l
in Delaware & Lackawanna and "a in
Bay State Gas. Erie is unchanged.
The bond market ruled quiet and in
the main lower during the greater part
of the day. Near the close some few
shares showed an improving tendency,
and the net results of the day are about
evenly balanced as to declines and ad-
vances. The total sales were SIT, 500.
Green Bay firsts sold at AS against 40
on Feb. II. Other changes of note are !:
Declines Union Pacific collateral 6s,