St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-02-18
100000
To Loan on st. Paul Real Els
tate.
ST. Paul Title Insurance 3 Trust Co
FINANCIAL.
New York

-
New YORK, Feb. 16. - The stock
market during the two hours of bust
ness today was very irregular in its
movement. but in the main inclined
toward higher prices, this tendency
being due to the closing out OF short
contracts over Sunday.
At the opening speculation was
strong in tone; fractional advance
was recorded. The Improvement was
not, however. maintained for long,
break of ~ In National Lead causing
pathetic reaction in the general
market. New Jersey Central was also
attacked and broke "a. Before II
o'clock the temper of speculation had
undergone change for the better,
Lead having recovered II. New Jer-
sey Central rallied l1s on covering of
short contracts. and the rest of the list
moved up under similar influences.
About IL 80 there was slight reaction,
but in the final trading the market was
firm and closed in good tone. the great
er part of the shares dealt in being g 9
Ia higher on the day.
Speculation was restricted in the
earlier part of the week. as but little
hope was entertained OF congressional
relief to the financial situation and the
defeat OF the bond bill merely added
slightly TO the existing depression.
Another factor of weakness was the Tin
favorable reports of abroad earnings
notably of the granger0oadS. The pub
LEGATION of the terms n which the gov
eminent had sold its per cent bonds
to the Belmont Morgan syndicate had
a good effect.
The requirements which provided for
the importation Of gold from Europe
and that which bound the syndicate to
use its best endeavors to prevent with
drawals of gold fromth treasury were
looked upon as most favorable to tn g
future of the market. implying as it
does the control Of the foreign exchange
market, so as to keep rates below the
gold shipping point.
The bears attempted to eXaggerate
the Importance of the purchases of
some gold in the open market. the buy
ers paying a commission Of 3s@I per
cent to bullion brokers. But the effort
to create a scare on the gold premium
was ineffective.
Northwest was feature of the share
speculation throughout the week, and
suffered from heavy liquidation. To.
hacco was forced down ~, to 81. The
primary cause Of the break was cur
rent rumor to the effect that an insider
was selling the stock. In the latter part
of the week there were evidences Of
inside buying, which resulted in rally
of AZ per cent. Street gossip to the
effect that the affairs of the United
States Cordage company would soon be
transferred to the care of receivers re-
su ted in slump in the stocks.
The closing trading of the week dis
closed a demand for the issues. and
they were marked up to 1865 and 14112,
respectively, the net losses being only
"a for the common, l for the preferred
and 81 for the guaranteed.
Sugar. while most prominent in the
trading, moved within comparatively
narrow limits. In majofity of in
stances the last figures of the week are
below those of the preceding week, the
more important losses being:
Wells Fargo Express company, per
cent; Canadian Pacific, 81: Edison
| Electric of New York, 81; Erie pre-
| ferred, 2s4; Alton & Terre Haute, ~ /;
Bay State Gas, 23S; Lead. ~; Chicago
Gas. ~; Burlington, "a; Distilling q
and Rock Island, d.
st. Paul Is unchanged. The aggre-
gate sales Of the week were s00,S0C
shares,
The bond market today was firm, the
sales aggregating $500, 900. Advances
were made OF per cent in Louisville 4
Nashville, Pensacola & Atlanta firsts,
Union Pacific, Denver & Gulf firsts are
down per cent, and Louisville &
Nashville, New. Orleans q Mobile tirSts