St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-03-03
THE OPENING WAS DEPRESSED
AND MOVEMENT OF PRICES
IRREGULAR.
RAILWAYS SOLD HEAVILY.
APPOINTMENT OF RECEIVERS FOR
BALTIMORE d OHIO CAUSES
NO SURPRISE.
MUCH PRESSURE ON TOBACCO.
ciRlIy Strong and Active-GOv-
ment Bonds Lower.

NEW YORK, March 1.-The share specula-
ton today was active and the movement of
prices irregular. Sugar reached the largest
total Of any individual stock and a large vol
ume OF business done in Tobacco. but as
class, the dealings in the railroad stocks ex-
ceeded those in the industrials by a consid-
cradle amount. The marked depression in
prices was noted at the opening, the contrib
utory influence being chiefly the news of the
American demonstrations by the populace at
Barcelona and other places in Spain, and the
formal declaration Of the insolvency Of the
Baltimore & Ohio. The appointment Of re-
ceivers for the property was a surprise to but
few people, a large chain of unfavorable
developments had that event foreshadowed
The stock sold simultaneously at the opening
at from 1914 to 1872, on dealings Of 2,100
shares, as against 22A, the total sale Of Sat-
urday. Subsequently the prices hardened to
20 and left off at 1874. The per cent bonds Of
1925 were marked up 2. The consol fves Of
1888 reacted to 49, compared with sale
at 1OS, sellers 70 on Saturday, Western Union
was depressed an extreme 1% per cent on the
cry that the bankruptcy of the Baltimore &
ONO would result in the throwing of its hold
lngs or that stock upon the market. On the
strength OF denials of the probability of such
contingency, a rally of points from the
lowest was made. There were also rumors to
the effect that 81 600 900 of its Western Union
stock had been secretly sold by the Baltimore
Ohio management year ago. This story
was also denied by parties claiming to be
well informed. Liquidation was also pro-
nounced in Tennessee Coal that stock break
ing "a per cent on sales Of 700 shares The
general list suffered to the extent of "a and
l12 per cent, the international shares, grang-
ers and Sugar most prominent. The reaction
airy movement was soon checked and a large
part OF the losses was recovered. The mar
ket then again reacted on renewed firmness
in the sterling exchange market. A revival
toward midday
elgn and local commission buying and cover
ing by shorts. The Improvements were most
important IN the high-priced industrials, the
grangers, Louisville, & Nashville and a few
of the specialties. The gains extended to 31k
in Tennessee Coal. Tobacco sold up ~ but
on advices of further active aggressive meas
ures by the opposition to the company, was
hammered down to IT'S on heavy dealings.
The general market proved superior to the
weakness. Tobacco developed weakness in the
final hour and sold off generally on liquida-
ton influenced by the anticipation of prompt
action by the house on the Cuban belliger-
ency resolutions. Speculation left off weak in
tone although the final prices, as a rule,
showed but slight declines as compared with
last weeks closing figures. Railway bonds
were moderately active, with wide fluctuations
In few issues. The bankruptcy of the Bal
cided weakness in its bonds the detailed
movements being noted elsewhere. This same
development was responsible for an extreme
drop of per cent in Pittsburg and Western
general market was irregular in the early
dealings, but became stronger in the late SEES
sion in sympathy with the rally in stocks.
The Northern Pacifos were exceptionally
strong and active, and good support was evil
dent in Reading first preference incomes and
AtChison issues.
Government bonds displayed decidedly in
creased activity at the expense of values. The
declines, however, were not material. The
aggregate sales were $500, 900,
Sales of stocks today includedi American
Tobacco, 10000 shares; Atchison, 800; Amer
lean Sugar $4,000; Burlington, II 600; Balti-
more & Ohio, $4,000; Chicago Gas, 4,4O0; Dem
yer & Rio Grande preferred, 300; Dstilling
and Cattle Feeding, 5000; General Electric,
5000; Louisville, rs, 400; Missouri Pacific 400;
Pacific Mail. $500; Reading 400; Rock ISL
and, 10000; st. Paul. As, 300; Tennessee Coal
and Iron, 5000; Wheeling & Lake Erie, 1920;
Southern preferred, $780,
The following table shows the fluctuations
of the leading railway and Industrial stocks
yesterday: