St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-03-07
hiehAEL JULIAN. JAMES DORIAN
M. DORIAN & CO.,
Bankers and Brokers,
81 Jackson ST.. ST. Paul. MINI.
Closing stocks-West.
FINANCIAL.
New YarM


NEW York. March O. Speculation on
the stock exchange, which has been
largely in the hands OF traders for a
long time past, was more professional
than ever in its character today. The
advance in American securities on the
London exchange this morning brought
prices of the international stocks to
figures above those current here, and
arbitrage houses became speculative
buyers in the early dealings in this
market. which impaired to it a firm
tone. Small selling, however, by the
room traders soon counteracted the
good influence of the foregu-purchases
and reaction set in which sent the fig
ures down attraction, except in the case
of the Baltimore 81 Ohio. This stock
was pressed for sale on renewal of the
rumors that the next dividend was in
doubt. While some long stock was
brought out, it is believed that the
short interest in the shares was
largely increased. AS result the
shares broke AZ per cent and
closed at the lowest touched.
The stock has been declining
steadily since Jan. IS, when 1t sold at
6512. the lowest point today being 52s4 IA
loss of 12I per cent. The earnings
have also been decreasing along with
those Of all the other railways of the
country, and, OF course, this fact gives
some force TO the bear rumors which
crop out whenever raid on the stock
is contemplated. Before noon the gen.
eral list mad recovered its tone, the in
dustrial group leading in the improve
ment which followed and which was
checked about 10 O'clock, the market
becoming stagnans. Before 2 o'clock
the bears began to hammer Southern
Hallway preferred on reports that the
SeaDoard Air line was making heavy
cut In rates which was likely to precipi-
tate Il rate war. and the stock broke "a
per cent, closing Is above the lowest
During the last hour speculation was
decide diy weak and the entire list
moved downward under the leadership
cf New Jersey Central, New York Cen
trail and the grangers, the market clos
ing heavy and i'll q majority of cases be-
low the closing sales Of yesterday Sugar
was the most largely traded in OF the
Whole market and chiefly on the bear
side, the transactions resulting in a
net loss Oh the day of 3 per cent. the
last sale made being within "a OF the
lowest. There was considerable board
room talk In reference to the approachx
ing dividend, doubts being expressed on
the side that it would be at the usual
rate, while on the other offers to pur-
chase the dividend at 27s per cent were
made. Ii was expected that directors
meeting TO act OH the question would be
held today, but only the executive com.
mittee met and it was announced that
they had not considered the subject of
dividends. The Dlslilling reorganiZa.
tioh committee was to have met today.
but owing to the death of brother of
Chairman HartShorn, of the committee,
a meeting was not held. The principal
losses on the day not already stated
are: New Jersey Central, u; New
York Central, rs; Consolidated.G Gas 1,
and the grangers 4@I; Wheeling d.
Lake Erie preferreu gained IA; Pitts
burg, c.. c. 81 St. Louis. l; do preferred
IL, and Tobacco preferred and Cordage
guaranteed, per cent.
allie bond market during the day
was somewhat more animated ant
prices were fairly well held until the
last hour. when, uuder the Influence of
the weakness of the share speculation,
prices tended downward. The aggre-
gate sales were 1901, 800.
The main declines are: Mexican
National firsts and Kansas & Texas of
Texas IS, 81 Erie fifth extended. RI;
Peoria, Decatu, u Evansville firsIs,
Evansville division. and Colorado MIDI
land tirsts, 2: iron Mountain tirsts, IL,
aud Chicago IL Erie frsts and Peoria d
Eastern iirSts. per cent.
Adyances-St. Louis & San Francisco
consol Is, ~, and Wheeling d Lake