St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-01-31
FINANCIAL.
New York.

~
the appointment Of receivers for the
Distilling and Cattle Feeding company,
which was known to a few after the
close of business yesterday, became
public property this morning through
the medium of the newspapers, and in
duced selling of the stock, but only q
moderate degree, less than $4,000 shares
having been dealt in up to noon and
only about 1900 shares during the rest
of the day.
On the early selling the stock declined
a per cent to ~, but it quickly re-
covered the full loss, reacting to and
by noon rallying to 81. During the
afternoon the shares fiuctuated between
S55@S8, closing at the lower figure,
being only 4 per cent down OIL the
day. Severe criticisms were passed
by the street upon the action CT Presi-
dent Greenbut in endeavOring to
forestall the stockholders protective
committee in its investigation of the
company's affairs, and Judge GroSscup
did not escape condemnation for having
made the appointment out of court,
thereby affording the opportunity for
the withholding of the news from the
public for about thrtySiX hours. The
stock was we'll supported under the
circumstances and the bears we're de-
tered by this fact from putting out too
many short lines. There will be an
active legal fight made by the protect
i've committee for the removal of the
receivers. The committee claims to
have proxies for large majority of the
capital stock which have been followed
to Chicago to be used for the purpose of
the committee at the annual meeting.
and possibly in court proceed
ings. The national financial
situation was source of much
anxiety to the operators on the stock
exchange, and the uncertainty undoubt-
eddy restricted the transactions aud un
settled the speculation. The announce
ment that Secretary of the Treasury
Carlisle was coming 10 New York 10
confer with New York bankers was
made early in the day, and caused dis
cussion as to whether his mission was
to prepare the way for a bond issue or
to take up the goid-shipment question.
Subsequently it was learned from the
Associated Press dispatches that Mr..
Carlisle was not coming, but that AS
siStant Secretary Curtis was OH his way
/ to this city, and it was at once accepted
| as fact that he was the bearer Of
commission to treat for the floating of
new bonds, which rumor had it were to
be at 4 per cent. The Withdrawals of
gold from the subtreasury were 3.6O0,-
600, all of which, it is said, will go for~
ward on Saturday next.
Considerable discussion was created
by the National Bank of Commerce
resolution calling on the clearing house
fn rncninh n nc
the opening of special gold accounts by
the banks.
All of the officials of other banks who
would speak on the subject condemned
the proposition as putting gold in pre-.
ferred class of money. and all agreed
that if the clearing house should grant
the request (of which there Is believed
to be no possibility, the drain on the
treasury gold would be still heavier
than 1t is now. All Of these circum.
stances tend to an irregular stock mar
ket, and during the greater part of the
day the general list 1uctuated fire.
auently between strength and weak>
ness, but toward the close there was
fairly good buying, which impaired
strong tone to the final dealings.
Compared with yesterdays closing
figures, the last prices made today are
mainly nlgnef, especially LOT tue acllVe
list, but number of heavy losses were
made, chiefly in specialtles, notably M.
& o., SIX; Edison Electric of New York,
8; Michigan Central, 2sl; st. Paul pre-
ferred, II; Louisville q Nashville and
American Exchange, l, and New York
Central and Sugar preferred, %.
Among the important gains are Chi
cago Gas and Cordage guaranteed, u;
Bay State Gas and Lead preferred, l;
Burlington, q, and Rock Island and
Northwest. Il. st. Paul is down e.
There was less activity to the trading
In bonds today, aud the temper of spec
i ulation was generally heavy. Towards
/ the close there was a'spaft in some of