St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-02-21
O. ERNST & co.
Investment Bankers.
DeaIersin First-CIass Bonds, Bank
Stocks and Commercial Papers.
NJ Gney to Loan in Large Amounts
Germania Bank Bldg, And Temple Court
st. Paul. Minneapolis.
FINANCIAL.
New Work.

NEW YORK, Feb. 2O.-This was not
all active day on the stock exchange.
but the speculation in the main was
firm in tone, and a majority of the
issues dealt in closed higher than yes
terday. But despite the inactivity i'll
the share market. the street was full Of
interest TO tinancerS, large and small,
and the brokers' Offices were visited by
a greater number Of persons than for
some time past. The attraction was
the opening of the subscription lists for
the new per cent government loan
at the offices of Belmont u Co. and
Pierrepont Morgan u Co. Others than
subscribers were anxious about the re-
suit, for upon the success of the loan
hung vast commercial as we'll as great
financial interests, the credit of the
United States being on trial. The first
news touching the subscriptions on the
bonds came from London in the Asso-
ciated Press dispatches announcing that
the loan had been subscribed for many
times over, with subscriptions still
coming in. This was followed up by
the announcement that the bond syndi-
cate here had closed the subscription
books within twenty minutes after they
had been opened, the issue having been
largely over-soId. The figures are with
held until the allotmcnts are decided
upon, which it is expected Will be made
public on Saturday. 1t is stated by
member of the syndicate that considers
ably more than one-half OF the bonds
will he allotted i'll London, inaSmuch as
it suits the purposes of the syndicate to
be able to draw upon the other side for
all the gold possible in order that it
might keep its agreement with the gov
eminent to help keep the gold reserve
intact and prevent Withdrawals of the
yellow metal from the treasury. The
rush of subscriptions brought the bonds
into favor in the open market. and they
were bid up to lis, which is a premium
of 515 per cent on the syndicate prices.
At the opening of the stock market
firm tone prevailed, but the trading was
light. A fairly good buying movement
was, however, soon begun, which re-
suited in a fractional Improvement in
the more active stocks. Inc
circulation of reports that a
heavy floating Indebtedness of the
Chicago Gas company had been discoy-
cred led 10 free selling of the compa-
ny'S stock, and to a decline there, a
large fraction OF which was quickly re-
covered. The rest OF the list was we'll
held. and in a few cases slight changes
were made. The decrease i'll earnings
for the second week in Februarysof the
Louisville u Nashville road induced
foreign as we'll as some slight local
selling, but without serious effect on
the stock, which rallied later in the day,
aln a cd
During the hour preceding noon the
speculation was strong for the leading
shares. but some of the speelalties broke
Gu the sal9 Of small lots. In the early
afternoon the market was Stagnant.
but about o'clock an attack was made
on Tobacco on the strength OF a
report that lack of harmony existed in
the board of directors and the stock
gave way 219, with finally rally Of ID.
New Jersey Central, Northwest, Man.
haitian, Sugar and few other shares
gave way fraction. but there was no
general reaction. The market was de-
cidedly firm during the last hour of
business and closed in good tone.
Among the most important gains on the
day are: Consolidated Gas, per cent;
Lead preferred, l3s; Delaware & Hud-
son and Susquehanna q Western pre-
i6TTeQ, ~, ana American Express, per
cent. Louisville d Terre Haute broke
| per cent; Morris d Essex, 81; Starch.
first preferred, 2; Starch, common, L,
and Tobacco, ~ per cent. In the late
| dealings Quicksilver was bid up " and
| Quicksilver preferred per cent.
There was brisk demand today for
railway and miscellaneous mortgages,
which resulted in a large volume Of
business being transacted. and some
material appropriations were recorded.
! The St. Louis Southwestern issues dis
| played the most animation, and their
combined sales aggregated 100000 out
of total for the day Of 81, 0S5, 900. The
more prominent gains were: Fort
| Worth q Denver City firsts and Nor-
| folk q Western New river firsts, per
| cent; ST. Paul IL Omaha eonsols, tx;
| Kansas & Texas, of Texas, IS, and Man.
haitian consol As, "; Chicago & North
ern Pacific firstS trust receipts, and ST.
| Louis Southwestern seconds, II; do
firsts, Lehgh & WilkesDarre consol rs
assented, and Oregon Short Lines 6s, l
per cent.
Declines-St. Louis. Vandalia & Terre
Haute, 318 per cent; Peoria, Decatur 81
Evansville firsts, 8: Southern Pacific
and California consol fives and North
ern Pacific and Montana firsts and Erie
seconds eOnsol trust receipts stamped
per cent.
New YORK, Feb. 2O.-There was