St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-03
TIE UNEASY FEELING IN LONDON
Is NOT REFLECTED AT NEW
YORK.
BOND INVESTORS IMPATIENT.
DELAY IN THE ISSUE MAKES TT
SELF FELT IN STOCK
PRICES.
SELLING GOLD AT A PREMIUM
Two Firms Arc Said to BE Imports
ing from Two to Three Mill
ions Worth.

NEW YORK, Jan. 1.-THE first business day
Of the new year on the New York stock
exchange was not especially conspicuous In
any particular, dullness excepted In COM
mon with all Of the other financial markets,
the stock speculation was contracted by ex-
pectation of the new government bond issue
and by monetary condition that allows
the importation and expectation of gold at
the same time, and at a profit in ether trans
action. OF course the import Of gold and the
premium reported to be ruling on the yellow
metal Is made profitable only on account OF
the forthcoming bond issue. The bonds, ac-
cording to the general impression, will be
sold at so low a rate as to abundantly JUS
tify the payment of a stiff premium for the
gold to be turned into the treasury in
change therefor. The export of gold, though
profitable at ruling figures, would be less
remunerative. Hence, instead Of the metal
being sent out on exchange operations, 1t
is imported as a commodity. This is an
anomalous condition OF affairs
In the early dealings the market proved
superior to the receipts Of disturbing news
the part OF investors at that center, owing to
the hI1bustering raid into the Transvaal,
and anxiety as to. possible complications to
arise in consequence. The prices of Ameri-
can securities were also reported " to IA
per cent lower. In the local market, however,
prices at the outset improved "a per cent,
Tobacco, Northwest, Lake Shore. Louisville
& Nashville, Chicago Gas and New Jersey
Central, and fractions in the other shares
traded In. The dealings were light, however,
and after the first hour dissatisfaction over
the delay in launching the government bond
issue was reflected in a sagging tendency
of values, causing the loss of the early i'm
provement. The volume Of business was ex-
tremely light and but little or no news bear
ing upon values came to hand, except gossip
regarding the estimated amount of gold on
the way from Europe and the course of the
$1,000, 900 to SO 900, coo had been consigned in
the aggregate to two firms in this city, but
they would neither confirm nor deny the
statements made.
1t is understood that fairly active buHiness
was done In gold at premiums of 191A per
cent. Money on call was active at to 10 per
cent. The greater part of the business was
was at the lowest of the day. The pressure
to sell late in the day forced many stocks be-
low Tuesdays final figures. especially in the
granger group. Louisville & Nashville and
Western Union were particularly heavy, re-
ceding per cent and II per cent respectively.
The closing weak, with concessions in
prices on the day.
The same lack of animation as that noted
in stocks characterized the railway bond
market, but prices were generally held The
sales were 81 105. af-e.
The total sales Of stocks today were 1884
shares, including: American Sugar 1880;
American Tobacco, 5000; Atchison, $500; Bur-
lington, 1900; Chicago Gas, IL AGO: Distilling,
3,4c0; L. & N, 5000: Rock Island 1900; st.
Paul, 22,300; Southern Railroad, 5000; West
ern Union, 1900.
The following table shows the fluctuations
of the leading railway and Industrial stocks
Yesterday: