St. Paul daily globe., 1895-02-05
FINANCIAL.
New York.

New YORK, Feb. 4.-The fact that
Tie secretary of the treasury had not is
sued call for proposals for the new
government loan this morning had de-
pressing effect on the share speculation.
This feeling was quickly reflected III
the Inauguration of sharp selling
movement which continued in force
during the first hour and led to very
general decline, ranging from Is to ~
per cent, the latter in General Electric,
which was sold down also in eXpecta-
ton of al unfayorable decision in pend
ing litigation, which, as on last Mon
day, was not handed down by the SUI.
preme court, in which the matter is
pending. Chicago Gas broke ~. de-
cline being assisted by reports that the
negotiations for a settlement between
the interests conte5ting for control of
the management of the company were
tagging; Rock Island and Louisville d
Nashville frsts, l; Burlington and st.
Paul, *; Northwest, IS, and Sugar, %.
The greatest decline Of the entire mar
ket was 2 per cent in Union Pacific,
the weakness of which was due to ligui-
dation for both home and foreign ac-
counts, induced by the practical defeat
of the funding bill in the house of rep
resentatives Saturday.
Distilling was bought freely on the
announcement that Judge GrOsscup at
Chicago had removed President Green
hut from the receiverShip OF the COM
pany, and that two receivers had been
appointed vino had no previous cOnnec>
ton with the company, one OF whom
was selected bv the New York stock
holders. An advance of IA was made
in the stock. OF which q was lost at the
close on realization of profits by small
traders. ABOUT II o'clock the temper of
speculation in the general market un-
derWent change, the street having re-
covered from its early deSpondency and
resumlng its faith i'll the anticipated
bond issue, being helped thereto by the
decentralization of the sterling exchange
market, which testified to the belief of
the foreign houses that the bond issue
would not be long delayed. AS aconSe-
quence prices mounted up with Duoyant
step, Sugar advancing 2113, Chicago Gas
and Northwest, II; Louisville u Nashs
vile, u; Rock Island, rs; Burlington
q Quincy, st. Paul and Western
Union, l; Union Pacific. %, and the
rest of the list I@15. There were
some fractional reactions in the later
trading, but the market as rule was
strong throughout the afternoon and
closed In good tone. Columbus. Hook
ing Valley & Toledo was unusually
active and touched 201S, the highest
point reached in a long time, which Is
gain of AZ over last Wednesdays price,
there having been steady apprecia-
ton in the shares since that day, which
is due to buying induced by the COM
pletion of the organization or the oper-.
ators producing coal along the line OF
the road, for the purpose OF placing the
selling of British coal i'll one agency,
thereby compelling competition. The
rise was also assisted by the reported
increased earnings fer January. The
stock closed within Is OF the highest.
The principle changes on the day Id the
general list are:
ferred. 2: Sugar. ~: Colorado Coal, j.,
Island, which is Is lower. Lead, on ru-
mors unfavorable to the declaration of
the next dividend, broke III the late
dealings 2L for the common and % for
the preferred, with final rally of and
81 respectively,
Other declines are: Union Pacific,
"a; Lake Shore and Chicago Gas, Is,
and Wheeling IL Lake Erie preferred,
ID per cent.
The bond market was depressed In
the morning, but in the late session
there was a general recovery in unison
with the strength of the share specula-
ton. The total sales were S739,000 and
the principal changes were:
!. Decline East Tennessee IS, 2 per
cent.
The Total Sales of Stocks
today were 1855 shares. including:
American Sugar. $1,000; Burlington.
5000; Chicago Gas, 22,1OO; Col. II. V. &
l., 6,4OO; Distilling, 15,400; Erie, $500;
General Electric. 5000; L. IL n. 11,200;
National Lead, $500; Rock Island, s,4O0;
St. Paul, $1,000; Union Pacific, 4,5Oo.