St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-26
AND WITH A LOWER LONDON MAR
KET STOCKS HAVE A DAY of
REACTION.
INDUsTRIALs MOST ACTIVE
THE FREE SELLING OF LEATHER
CAUSES 1T TO DROP MORE THAN
TWO POINTS.
BREAK IN BALT1moRE & OHIO,
Caused by the Revival of Rumors of
an UnfavorabIe Report by the
Expert Examiners.

NEW YORK, Feb. Extraction was the
order of the days stock speculation The in
ltlatiVe coming from London, where a lower
market Tor American securities was reported.
Estimates of foreign selling in this market
ranged between 10, 200 and Is 900 shares. The
bear element detected indications of liuuida-
ton, and pressed the market to the fullest
practicable extent. The industrials assumed
the leadership in point of activity the COM
bined transactions in Tobacco and Leather
preferred footing UP TX of the entire deal
ings. The foreign selling of the international
shares referred to caused lower prices on the
new YORK stock exchange, and further con-
SESSIONS In values were made in the succeed
ing operations. The most severe losses were
made in the industrials and speciaIties par
ticuIariy Leather pfd, which yielded 2% per
cent on selling for both accounts on the ex-
pecIauon OF failure to declare a dividend
d. looay directors meeting. The downward
movement was accelerated by the catching
OF numerous stop orders. A revival of un-
favorable forecasts of the probable summing
up OF the experts, who are making an ey-
animation Of the general condition and pros
pects OF the Baltimore Ohio, was improved
ny the Traders, who effected a break of 3A
per cent IN the stock. There was a subse-
quent recovery OF 1B from the extreme low
point. brief general rally occurred about
tne ohiy important gain was that of ia per
cent IN missouri Pacific, mainly on covering
~, shorts' Inc improvements were short
useu, as renewal OF aggressive tactics by
the Traders brought about a selling move
Heht at midday in which most of the rally
was lost. Manhattan dropped 2 per cent.
Inc olhciai statement of the treasury gold
reserve, showing an excess of s23 ZOO 37S
over the 500, 0G0 0OO limit, an increase Of over
s!o,oo0, U0o from yesterdays figures had some
enect IN causing moderate improvements
around O'Clock. Tobacco suddenly assumed
prominence in the last hour by decided heayt-
ness, resulting in a rapid break of 2 ner
cent on heavy dealings. The only explala-
ton or this development was a vague rumor
vi either adverse legislation or an unfavor-
aDie decision actual or in prospect. The
weakness OF this stock was communicated to
the general list, and, together with the news
OF the defeat Of the Dingley revenue bill in
the United States senate, started a selling
movement all along the line in which de-
clines up to 1 per cent were scored with
sugar and the grangers the chief sufferers
me closing was heavy in tone, with severe
net losses in some shares and fractional de-
cifnes general. The railway bonds dealings
were attended with decreased activity but a
hrm tone prevailed. In the late session,
however, marked heayiness was dispIayed in
the Atchison and Northern Pacific issues
which was in turn communicated to the other
securities, and caused depressed tone at
the close. Baltimore C Ohio IS singularly,
In view Of the weakness in the stock rose
2 per cent to 95. The aggregate dealings
were s1,923, 600. The principal net declines
We're in Fort Worth and Denver City first
trust receipts, q Northern Pacific thirds, /;
do consol 5s. IL; do trust receipts. IL;
Atchison adjustment As, rs, and do As trust
receipts, 1 per cent. Prices Of government
issues were shaded. Transactions Of s15s, 600
were recorded.
Sales of stocks today included: American
Tobacco, 4,10O; Atchison $500; American
Sugar l.; 500; Burlington. 500; Baltimore &
Rio Grande, 4600 Distilling and Cattle Feed
ing, 1880: General Electric, 11,7OO; Missouri
Pacific. 1860; Rock Island. TO- 700; st. Paul,
q, 100: Tennessee Coal, 300; Union Pacific
1900; Western Union, 5,4O0; Wheeling G.
Lake Erie, 3.400.
The following table shows the fluctuations
of the leading railway and industrial stocks
yesterday: