St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-25
SPECULATION IN STOCKS VERY
UNSETTLED UNDER HEAVY
TONE.
SHORTS AND LONGS SELL.
tNDUSTRIALS DEVELOP THE
WIDEST FLUCTUATIONS. WITH
STRONG SELLING.
COAL SHARES IN PROMINENCE.
&ugar Makes a Bad Break. and So
Does Gas-Large Sales of
Bonds.
SHORTS AND LONGS SELL.
COAL SHARES IN PROMINENCE.

NEW YORK, July 24.-Share specu-
1atlon on the stock exchange was ir-
regular and unsettled throughout the
great part of the day, and in the full
trading was decidedly heavy in tone.
Chief among the influences in the mar
ket was the sharp advance in wheat,
which reflected reports of a. scant crop
and as a consequence led to selling or
the grangerS, both for the long and
short account. The general railway
list caught the depression, which was
increased to some extent by a slightly
hardening tendency of sterling ex-
change a,sd by moderate sales for the
foreign account, mainly on arbiJrage
The course of the market was very
erratic, with the widest fluctuations
In the industrials. Sugar, after an early
cent to 1925 during the morning on
clique selling, claimed to be for the
purpose of shaking out weak holdings.
A rally Of rs was followed by Il reac-
ton of IA and a final recovery of Z,
restricting the net loss to the mereSJ
fraction. Chicago Gas fiuctuated be.
tween 553s and 561a, closing within Il of
the lowest and IS below yesterdays
closing. This stock was in good buy
Ing demand during the morning on
report that a plan had been evolved by
the trust to get over the legal diff
cultieS supposed to stand in the way of
paying dividends. Later adyices from
Chicago, asserting that the attorney
general was after the trust, helped to
depresS the stock. Leather was not
ably strong in the late dealings, the
common stock showing d net gain of
IL and the preferred per cent
Shortly before noon the coal shares
doomed into prominence. Reading was
bought on the announcement by
Philadelphia newspaper that the Earle
Olcott committee had agreed upon q
plan of reorganization soon to be
made public. An advance of IL per
cent was made in the stock, of which
Is was subsequently lost on denial of
the story by the, counselto the reorgan-
lzatiOn committee. On small purchases
New Jeusey Central rose ~ and Sus-
Quehanna and Western preferred 115,
while Delaware & Hudson. on sales OF
500 shares, broke / per cent. A story
which could not be confirmed, that
New England was to be turned over
about Sept. l to the new interest
which had gained the control, caused
that stock to jump up 5$s per cent,
the gain being retained to the close.
The entire market closed very heavy
the only important changes in price
on the day not already noted being an
advance of 2$i per cent on st. PaW
and Omaha preferred and declines OF
214 in Canada Pacific and per cent
in Edison Electric of New York.
In the bond market the Atchison is
sues were heavily dealt in, and on pur-
chases aggregating 81 COO, 900 the tours
trust receipts improved 13l per cent
adjustment IS, when issued. brought
54$i@54 Aside from the Atchison trad
ing the inquiry was good for other
mortgages; which caused general
rise in values. Illinois Central As of
1858 gained 334; Chesapeake e. Ohio,
r. and F. firsts, consols, 3; Colorado
Coal 6s. >; Kansas Pacific consols, st.
Paul, c. and p. 6s, and Northern Pa,
cific seconds, ~; do cOnsol IS trust re-
ceipts. 1a4; Colorado Midland As trust
receipts, H. and Kentucky Central 6s
Minnesota & st. Louis firsts, South
Haven &, Hartford As certificates, Ore
gon Improvement firsts, Oregon Short
Line 6s. do consol IS trust receipts
and Toledo, Ann Arbor &, Cadillac
first trust receipts, Per cent. Declines
Chicago & Erie firsts. 2; Reading
third incomes, 1%, and Ohio Southern
as and Peoria, Decatur & Evanston
firsts, Evansville division, / per cent.
The aggregate sales of the day reached
the large total of 81 $50 coo