St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-07
COURSE OF STOCKS YESTERDAY
DISAPPOINTING TO MANY
PERSONS.
WERE SOMEWHAT STRONGER.
THE SUCCESS of THE BOND ISSUE
HAD LESS INFLUENCE THAN
WAS EXPECTED.
DID NOT RESPOND,
But Conservative Financiers Think
Securities VIII Soon Reflect
Increased Confidence.

NEW YORK. Feb. 6.-The course Of to-
days stock market was extremely disappoint-
ing to many persons, who had expected in
view OF the great and unsurpassing success
or the new government loan, decided UP
turn In prices both here and abroad. Appar-
emily both in London and on the floor of the
New York stock exchange the news was not
regarded from broader point Of view than
as affording an opportunity to secure profits
accruing from the recent rise. Conservative
nnanciers expressed the opinion that the Sc
curities market will soon reflect increased
confidence to the financial outlook AL
ready the expectation of better market for
commercial paper is expressed and also of
reasonably easy money market. A favorable
feature is the continued increase of earnings
shown by nearly all of the prominent lines
The volume of business showed a considera.
BILE increase over the record of the previous
day. Prices moved in an erratic fashion and
In some instances the fluctuations were wide
sugar and st. Paul again absorbed the great
est interest With hrst-named well in the lead
In point of activity. The two stocks men,
toned recored nearly two-thirds of the entire
total. The market opened slightly higher de-
spite the cold shoulder presented by the lower
range OF prices for Americans in the Lon
don market. In some instances Improvement
over the initial figures was made, but the
market soon turned on the appearance OF
heavy liquidation in the leading shares both
for local and foreign account In the ensuing
reaction many stocks touched figures below
last nights closing prices. A rally then fol-
lowed and the market exhibited irregularity
until 1 o'clock At that hour supporting or
ders appeared and prices advanced rapidly.
Sugar was the leader, rising 21a and the other
active shares 1G1lz per cent. In the move
ment South Pacific, Missouri Pacific, Louis
vile Nashville and the grangers were the
most important. In the usually inactive
shares Pullman rose 81, Minneapolis & ST.
Louis LIST preferred 8, Rio Grande Western
preferred 21a. The report that President Ban
fgan, of the United States Rubber company
had rendered his resignation together with
ors, was followed by a decline of per cent
in the common stock certificates and of 4 per
cent in the preferred. The former SUISSE
quently regained half of the decline In the
last half-hour taking of profits caused an
other general decline Chicago Gas was con-
spicuousy weak, reacting "a per cent on ru-
mors of further impeachment to the consolida-
ton plan.
Business in bonds was fairly large and val
ues generally worked higher. The total deal
ings were S1,552, 900. Sales of stocks today in
cluded: American Sugar, 50 100; American To-
bacco. 500; Atchison, 600; Burlington, &c.
900; Chesapeake & Ohio, $500; Chicago Gas,
11.0O0; Distilling & Cattle Feeding, $500; Gen.
eral Electric. 1900; Kansas, Texas & Pacific
900; Manhattan Consolidated, 3,100; Missouri
Pacific, IS, 100; Northwestern, $500; Reading
Il. 800; Rock Island, 1890; st. Paul, As, 400;
Silver certificates 10 900; Southern, 500;
Southern preferred, 10, 300; Tennessee Coal &
Iron, $500; United States Leather preferred,
8, 600; Wabash preferred, S,400; Western Union,
4, 600; Wheeling & Lake Erie. 1000.
other stocks as reported by the Associaed
Press.