St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-15
TAKE A DOWN TURN
LONDON QUOTATIONS TAKE A DIS
APPOINTING TURN FOR
AMERICANS,
AND GENERAL LOSS RESULTS.
MANIPULATION BY SPECTATORS
WAS AGAIN THE FEATURE OF
THE MARKET.
RAILROAD SHARES INACTIVE,
And Of Industrfals Sugar Easily
Took the Lead for Ac-
tfvity.
RAILROAD SHARES INAcTIy

NEW YORK, Feb. 14.-Manipulatien by
speculative dealers wes again the feature OF
the stock market, Outside business was
light and there was dearth OF news bearing
OIL the situation, except In disappointing
turn In the London quotations for our Sc
curities The most conflicting and ineonsist-
ent gossip was circulated concerning the
active Industrial stocks and they exhibited
relatively much greater activity than the
railroad list. The course Of prices was er-
ratio. London had been expected to follow
the strong close Of the New York mai ket,
but, as a matter Of fact, quotations from
that center showed declines of A91A, and
subsequent foreign selling in this market
effected losses of over 1 point in st. Paul and
Louisville B. Nashville, after early strength.
London weakness was attributed to renewed
friction over the Transvaal, and to the dis
couraging estimates by the leading
European ananciers as to the net results Of
the new loan in strengthening the treasury
reserve. The point made several days ago
in these dispatches that good authorities did
not figure out more than SIC, 100000 Of new
gold from the loan, Is now more generally
appreciated, and bear capital made out
OF it yesterday and today. This is not illogi-
cal in view of the approaching spring i'm
ports season, when a fairly large outgo of
gold is normal. Sugar led the entire market
ment Of the regular dividend is now i'm
pending; and a further advance in foreign
Sugars of 2Z per cent was engi-
neered, carrying the price to lis. The stock
lost large part of the improvement in SYM
pathy with the general heaviness at the
close.
Chicago Gas was advanced IL per cent
early, but slumped sharply in the late deal
ings on free offerings by insiders. Tobacco
moved within range Of about 1H per cent
on purely professional manipulation. The
railway shares, as group. were not espe-
cially noteworthy. Slight declines occurred
in them early, but there was a subsequent
practically general improvement to about
last nights closing, under the influence of
buying movement that was in progress
around l o'clock. Weakness characterized
the market in the final hour. Manhattan
broke 3A per cent to 107A, without fresh re-
port or rumors. A slump of Az per cent in
Consolidated Gas was attempted to be ex-
planned as due to the introduction of a 81
per thousand gas bill at Albany. Other
leading shares were depressed 1@11k per cent,
the grangers leading. The favorable annual
report of the Illinois Steel company, together
with the dividend announcement, caused a
jump of 10 per cent in its price to 70. Among
the other less active shares gains were
scored Of 1925 per cent respectively in Min
nesota Iron, and Cleveland, Lorain & Wheel
ing. The closing was rather quiet and weak,
with values ruling at the low point.
The bond market dull and generally
firm The sales aggregated 81 100, 900. Gov
eminent bonds were easier on dealings of
1854, 600.
Sales of stocks today included: American
Sugar, $500; American Tobacco, 20, 200; Bur-
lington, 800; Chicago Gas, 1900; D. c. F.,
5000; General Electric, 6,1OO; Kansas & Tex
as preferred, 5000; Louisville C Nashville,
19,200; Manhattan Consolidated, 1900; Mis-
souri, Pacific, $500; Reading, 5000; Rock ISL
and, 100; st. Paul. 29,500; United States
Leather preferred, 6,400; Western Union,
1900; w. L. E., $780,
The following were the fluctuations in the
leading railway and Industrial stocks yester-
day: