St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-03-08
MICHAEL DoRAN. JAMES DoRAN
M. DORIAN g CO.,
Bankers and Brokers,
3li Jackson ST.. ST. Paul. MlnH.
Closing stocAs-West.
FINANCIAL.
Ney York.

NEW 1CRht MATCH T. DuSdT saved
the market today from extreme stagna-
ton, and at the same time gave new ev-
idence Of its ability to furnish the street
with mild sensation without notice.
During the past few days the dividend
question was a question OF street gossip
and The point was given out that the
rate would be reduced from to 81,
aud possibly to 2 per cent. Brokers
known 10 work for the Sugar CLIQUE
were open sellers of the stock. From
81 on Monday the price declined to
91N yesterday, the loss being due to the
impression which obtained in some cir
cles that the dividend would be scaled.
After the meeting of the executive COM
nnttee yesterday it was announced that
the dividend question had not been dis
cussed and at the opening of business
this morning it was whispered around
that the board of directors would at
their next meeting in the afternoon de-
clare the regular dividend Then be-
gan a manipulation which sent the
stock up from 9l3 to 921s and back to
9l12. The lower figure was touched
shortly after midday and induced some
covering, the volume of business being
SWelied by purchases for the account of
traders who had apparently received a
Tip" that the full dividend would be
declared. There was heavy buying also
for inside interests, all OF which com
bined to cause a sharp advance of 49, to
9428, the announcement being made. as
The highest price was touched, that the
directors had declared the full divide nds
of per cent OH the common and 19I on
the preferred stock, both quarterly and
both Tree Of income tax. Some holders
who had bought at the lower quotations
OF the morning took advantage of the
rise TO realize profits, and this Stem-
lngly caused reaction of ~. but there
was a renewal Of the purchasing moves
ment, under the influence of which the
stock again moved upward. closing at
93H, the highest price of the day, and
355 above yesterdays closing sale.
The transactions i'll the stock aggre.
gated $4,000 shares, which is the larg-
est total for day this year. The gem
eral market was dull and without spe-
cial feature. At the opening, prices
prices were a small fraction higher with
but few exceptions, and in the early
trading gains OF Sol per cent were
recorded, the latter III Great Northern
preferred. Shortly before IL O'Clock
reaction set in, followed by rally and
another recession before long, the
changes, however, being narrow. Dur
ing the hour following midday specu-
iatiou was intensely dull, but subse.
quently, under the influence of The bull
movement in Sugar, the general market
became strong. New Jersey Central
selling up to SS3S, an advance oil tx
from the low point OF the dgy, the other
gains being merely fractional. In the last
hour speculation was irregular, but the
market closed fairly steady and at an
advance OF 18@2 per cent on the day,
the latteri in Evansville 81 Terre Raute
on purchases of 200 shares; 2 per cent
in Delaware, Lackawanna and Great
Northern preferred and Lead PRE-
ferred; q in Lead common. d in Ma
tional Linseed and Is in Southern pre-
ferred, Louisville, New Albany pre-
ferred and Leather preferred. On sales
of 200 shares Canadian Pacific broke 2
per cent. There were few other de-
clines which did not exceed "a per cent,
this loss being i'll New YORK Central,
which was sold down from 95 to 941S
during the morning on rumors touch
ing the next dividend, but recovered
later.
The movement in prices for specula-
tive bonds were extremely narrow
during the day, but among the inactive
securities there were material changes.
A demand for Brooklyn Elevated firsts
resulted in rise of go per cent to 90;
Brooklyn Elevated seconds fell Off 3
per cent to &c, but recovered the loss.
Union Elevated firsts jumped 51a per
cent to 9017. The total sales were S61, :
500. Other changes of uote are:
Declines - Wheeling & Lake Erie
Improvement Is, 81 per cent; Pacific of
Missouri seconds, 8; Cordage frsts,
2a; Hooking Valley 6s, 2.
Advances - Cleveland u Canton
firStS, 3 per cent.
The Total Sales Of stocks
today were 262. 500 shares. including:
American Sugar, 3.400: Baltimore &
Ohio, 400; Burlington, AGO; Chicago
Gas, $500; Distilling and Cattle Feed
ing. $500: General Electric, 1850: New
Jersey Central. 1000; New York Cen
trail, $500; NorthwesterE. 5000; Rock
Island. 2.So0; st. Paul. 10000; South
ern, 1900.