St. Paul daily globe., 1895-12-28
STOCKS WE'RE DEPRESSED, PART
LY BECAUSE OF LOWER
~ PRICES ABROAD.
THE TARIFF DISAPPOINTMENT
A--rEnrAL DECLINES 1N GRAN
GERS AND INDUSTRIAL
SHARES,
LATE RALLY THAT DIDN'T LAST.
BurlinEtOn's Earnings Not Up to Ex-
Dectntions-Firm Tone to the
Bond MInfI1et.s


NEW YORK, Dec. 2T!-The temper of
speculation today wasEfeverish and un-
settled. A variety of influences con-
tributed to bring about depression. In
the first place, instead of higher range
OF prices for American securities In the
London market as the local traders ex-
pected, although upon what basis could
not be reasonably explained, quotations
from that center showed declines in the
interna tienals, extending to rs per cent
In Louisville &c Nashville. The weak
ness was set down to dissatisfaction
over the terms of the proposed new
revenue bill. This criticism met with
onfy partial acceptance. The local trad
1ng was unfavOrably affected, sympa-
thetlcai1y, and material declines were
recorded at the outset of business, espe-
clally In the grangers, industrials and
Louisville & Nashville. TO account for
the weakness stress was also laid on
the estimated shipments of gold by to-
morroW's steamer, which were only par
TALLY verified; upon the unsettled finan-
clal conditions generally; upon a dlsap-
pointing exhibit of earnings by the Chi
cago, Burlington & Quincy for Novem-
Der and the eleven months up to Nov
81. and finally, upon the rumors affect
ing the credit OF the Baltimore & Ohio
railroad. a specific denial of some of
these reports were made.
he react!onaly movement was soon
stemmed by covering purchases for short ac-
count ana. to a moderate extent, by COM
mission houses. The improvements resulting
were, however, inconsdefabIe except in one
or Two instances. Chicago Gas responded TO
t3ley news OF a denial by Judge Bischof OF
the motlQn to make permanent the irjunc-
ton restraining The committee from perfect
ing the plan of consolidation by an advance
OF 2a4 per cent The attack on Baltimore {
OhiO resulted in a decline OF ~ per cent.
ana caused drop cf 80 per cent in Western
Union on the inference that the alleged
hnancial difficulties of tie ttrst-mention"i
company would compel the sale OF its hold
inEs OF Western Union amounting to "A go
shares. decline of per. cent in Larkd-
wanna, following the announcement by Pres
ident Slcan thar the regular quarterly diyt-
derd of ~ per cent would be declared later
in the daT, was one OF the anomalies of the
speculation. 1t was also auth0ritatvely stat
ed that the Hudson Canal company will main
tain its 7 per cent dividend lrate in 1896.
This condition OF things is supposed to be
due to the decidedly unsatisfactory condition
of the anthracite trade.
The market during the last hour of trad
ing displayed pronounced heavlness. Sugar
scored a net decline of 8 per cent. Chicago Gas
lost. all of the early Improvement, and other
leading shares lost from to 2Ss per cent
net, the last In Louisville G Nashville. The
closing was fairly active and at the lowest
figures of the day
The early trading in bonds was character
lied by firmness. In the late session. how
ever, break material in some instances
occurred. The dealings aggregated s1.S15, 00O
The dealings in government bonds aggregated
only 50 600. There We're mo- notable changes in
prices. In state bonds a good demand was
noted for Virginia Centuries, 1000 changing
hands at a material appreciation in price
Tennessee settlement threes figured for Sc COO
The total sales Of stocks today were 2SS,
697 shares, including: american Sugar. 80 500
American !. Tobacco so; Atchison. 500;
Burlington, 11.2o0; Chicago Gas 1880: Dis
tilling and Cattle company, 800: Kansas &
Texas, $500: l.. G. N. 300; Missouri Pa
cifc 75oo; Rsading, 9 500: Rock Island, 1900
ST. Paul. 81. .30O: Texas Coal and Iron. 400:
L. s. Leather. $500: Western Union. 14,3OO;
Wheeling & L. r. 60.