St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-03-01
mEAvy SELLING RENEWED.
Depression In Prices of Leading
Stocks. EspecfaIly ID. & o.

NEW YORK, Feb. "a renewal of the
heavy selling movement inaugurated yester-
day In anticipation of the vote in the senate
favoring recognition of the independence
and belligerancy OF Cuba, marked the re-
sumption Of trading today. London prices
for Americans were shaded and foreign
sales in this market were fairly large. The
early declines extended to a point or there
about. and were most important in Sugar,
Baltimore G. Ohio. Louisville & Nashville. st.
Paul, Chicago Gas and Leather preferred.
The reaction was soon stemmed by the exc
cution of fairly large purchasing orders for
both accounts, resulting in smart advances
above yesterdays final sales in a number Of
cases. Leather preferred scored an eXcep-
tional rally from the low point Of 2 per
cent. Louisville G. Nashville recovered 1h.
The disturbing reports and assumptions re-
garding the outlook of the Baltimore & Ohio,
together with the positive statement that the
March interest had not been provided for up
to the beginning of business on the stock
exchange, resulted In In an outpouring Of
an insignificant rally. There was renewed
pressure against the market in the final
hour and nearly all OF the early improve,
ment was lost. Speculation left off active and
weak in tone at general net losses of frac-
tional amounts.
The severest losses werescored in Sugar,
the grangers, Leather preferred, Tennessee
Coal, Louisville 4 Nashville and few other
shares The breaks in Baltimore & Ohio and
Leather preferred were sensational: the
weeks final sales. rallied to 80 on the denial
of the unfavorable reports, and eventually
receded to 219s, with the final transaction at
22A. Leather preferred slumped to 59H, as
against 6Sla the top price of the week: The
net decline was 65s per cent Other impor-
tant losses were in Cotton Oil preferred, 61a;
Laele EIDE Gas preferred, "a; tennessee ans Goai
I Eo1s B snd st ram and Rock ok Is island
Lead, 2B, and Louisville, per cent. The
total sales were 1,476,177 shares.
The railway bond market today was affected
by the depression in stocks, with the more
important business in the speculative issues.
The volume of business was above the usual
aggregate and was well distributed. The
dealings amounted to $1,090,000. The leading
net declines were in Reading second incomes,
trust receipts, ga per cent; do thirds, per
cent; Northern Pacific consols, 5s, 2; do trust
receipts, ~; Wabash debentures, series b,
ia; Pittsburg & Western firsts, 11a; Kansas
G. Texas seconds, 1as; Texas & Pacific firsts
and Texas G. Pacific seconds, Ia, and Atch1-
son adjustment as, 1 per cent.
Governments were slightly easier in tone
and sales were made of $101, 500.
The railway bond market for the week re-
sponded to the course Of stock prices, and de-
cided movements were noted in some in
stances, particularly in Baltimore & Ohio is
sues. The consol 5s of 1888 were offered down
to g. seller 80, against 107 the preceding sale,
and do 5s of 1925 slumped 141a per cent to SO,
owing to tangled condition OF the company's
affairs. The Northern Pacifics were also con-
spicuous in the dealings and advanced ma
terially, on expectation Of active steps in the
near future looking to the rehabilitation Of the
property. The aggregate sales were $9,sSs, 900.
The final figures show concessions, as rule,
with declines In the speculative issues, ex-
tending to per cent in Kansas & Texas sec
onds Governments for the week were less
active. Fractional concessions occurred on
dealings of $940,5O0 Slight advances were
noted on state issues on transactions of ST.
600.
of the leading railway and industrial stocks
Yesterday: