St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-03-02
nEAVY SELLING RENEWED.
Depression I'm Prices of Leading
Stocks, Especially Ii. & 0.

NEW YORK, Feb pa renewal of the
heavy selling movement inaugurated yester-
day in anticipation of the vote in the senate
favoring a 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 point or there
about, and were most important in Sugar,
Baltimore & 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 number Of
cases. Leather preferred scored an excep
tional rally from the low point of per
cent. Louisville C Nashville recovered IA.
The disturbing reports and assumptions re-
garding the outlook Of the Baltimore G 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
stock depressing the prices SIS, to 215s, with
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-
rional amounts.
The severest losses werescored in Sugar
the grangers, Leather preferred, Tennessee
Coal Louisville & Nashville and few other
shares. The breaks in Baltimore & Ohio and
Leather preferred were sensational. The
first named fell to 26, as against &c. last
weeks final sales, rallied to 80 on the denial
OF the unfayorable reports, and eventually
receded to 215s, with the final transaction at
22A. Leather preferred slumped to 59H as
against $50, the top price of the week. The
net decline was 65s per cent. Other impor-
tant losses were in Cotton Oil preferred, 612
Laclede Gas preferred SA; Tennessee Coal
and Western Union, 2B; New Jersey Central
Tobacco and st. Paul, 27s; c., c., G. & st.
Louis Burlington and Rock Island, "a !;
Lead, 21s, and Louisville, 2 per cent. The
total sales were 1476,177 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 we'll distributed. The
dealings amounted to $1030,000. The leading
net declines were in Reading second incomes,
trust receipts, "a per cent; do thirds, l per
cent; Northern Pacific consols, 5s, 2; do trust
receipts, ~; Wabash debentures, series B.
u.s. Pittsburg & Western irsts, IL; Kansas
& Texas seconds, 49, Texas & Pacific firsts
and Texas & Pacific seconds, IL and Atchi-
son adjustment As, 1 per cent.
Governments were slightly easier in tone
and sales were made of SOL 800.
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 81, seller 3d. against 107 the preceding sale
and do IS of 1925 slumped 141A per cent to 49,
owing to tangled condition of the company's
affairs. The Northern Pacifics were also con-