St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-03-01
FINANCIAL.
Rev York.

NEW YORK. Feb. %. - The share
speculation today was more active than
for some time past. but the market was
rather heavy, and prices as rule closed
at figures below yesterdays final sales.
There are special causes for the decline
Of certain stocks. but the general factor
in creating the depression was the fear
that gold shipments were immi nent.
Looking at the question in the light of
current quotations for sterling exchange
demand bills. there was some founda-
ton for the belief that gold exports this
week were probable, but considering
that no shipments can be made before
Saturday, aud that the bond syndicate
in petition to Furnish bills OF x
change at figures below the profitable
shipping point, 1t was strained coll
cluslon to arrive at that the flow of the
yellow metal would be eastward. Or
course it was the bears who talked
l0udeSt OF the resumption of specie eX-
ports, and they found enough believers
10 belp them swell the volume of the
sales and, consequently, to depress
prices. The street, however, III the
main, gave no credence TO the gold
shipment theory, and toward the close
experienced in the exchange mar
ket, which was due to the
offerings of bills by syndicate houses at
concessions from previously prevailing
prices. London was seller of the in
ternatiOnal stocks in this market. there
being also talk there of United States
shipments Of gold. Louisville 81 Nash
vile was notably weak on liquidation
from foreign as we'll as local sources, in
duced by rumorS of threatened South
erh rate war and of decreasing traffic
owing to the unusual severity of the
weather in the South. The stock broke
2aa6 to 459s, and closed within e of the
lowest point touched, q greater number
of shares having changed hands than in
many day. The granger shares were
weak, under the influence of a heavy
movement in st. Paul, which was based
on reports cabled from London that the
declaration of the next dividend was
doubtful. A decline OF l per cent was
recorded in the common stock, with a
final rally of q; the preferred lost a.
Burlington fell off per cent, recover.
ing u. Northwest receded ! per cent,
regaining Is: Rock Island recorded a
decline of a A demonstration was
made against New York Central during
the morning, and free selling was iu-
dulged III. with the result of break
ing the stock 215 to 955s. During
Withdrawn, and the stock was
held firmly. closing at recovery
of q. Nothing definite is known
to account for the liquidation
in the shares, but it is possible that
some action in regard to future dlvi-
bends may have been taken at yester~
days conference Of the executive Off
GERS of the Vanderbilt roads which is
not known to the general public. OF
| the coal shares New jersey Central
alone was dealt in to any extent. 1t was
subjected to a bear attack which sent
| the price down 136, with rally of d at
the close. Despite receivership rumors
| Missouri Pacific gained q on the day,
10 party in the market apparently car
ing to take the risk of putting out any
| extensive line OF shorts in the face of
| George GOuld'S statement that he pro-
| poses to protect the property. After
| delivery hour there was buying to cover
| short contracts, which caused smart
| rally, and the market closed steady. In
the list of declines are Lake Shore, ~
| Cordage preferred and Manhattan, IL
| Baltimore & Ohio, Pittsburg, c., c. q
ST. Louis. Lead and Cordage common,
| l per cent. Leather preferred shows a
| gain of u, and Cotton Oil per cent.
The morning bond trading was firm
| but rather quiet. In the late session
there was Increased activity, and the
| speculative issues were generally Tower
in sympathy with the weakness of the
| share speculation. The total sales were
$4,000. The more important declines
are: Minneapolis & st. Louis firsts. AZ
per cent; st. Paul, Minneapolis & Man
itoba, Montana extension As. and Sc
attic, Lake Shore & Eastern firsts trus,
receipts. 2.
| The Total Sales of stocks
today were 204.6S9 shares. including
American Sugar, 1880: American To-
bacco. 1920; Burlington, 1850; Chi.
cago Gas, 1l.000; DistilIing and Cattle
| Feeding, 5000: General Electric, 5 600:
Louisville & Nashville. $500; Manhat,
tan, 300; New Jersey Central, II, 500;
New York Central, 15,4OO; Northwest
ern. 10000; Rock Island, $500; st. Paul,
20,S00; Southern Railroad preferred,
5000; Western Union, $500.