St. Paul daily globe., 1896-02-28
THE MARKET IS VERY IRREGULAR
AND WITH A TENDENCY DOWN.
WARD.
MARKED DECLINES OCCUR,
THE sHARPEST IN BALTIMORE a
OHIO, WHICH LOST NEARLY
FIVE POINTS.
LEATHER ALSO TAKES A TUMBLE.
But Recovery Comes Late i'm the
Day, and the Net Recovery
Very Slight.

NEW YORK. Feb 27-The volume of busi-
ness In stocks today was about equal to that of
the previous day. The industrials again held
hrst place in point OF activity group. The
market was irregular. with a downward tend
ency. and marked declines occurred in several
instances. Baltimore & Ohio was the particu-
lar weak feature, declining an extreme SIX
points to 26, while the per cent bonds of 1925
we're offered down to S912. seller 20, as against
80 regular the last previous transaction on
Tuesday. The depression was caused by dis
turbing reports. conveying the impression that
the result of the expert report that has been
made by Stephen Little, the accountant en-
ployed by the syndicate, had been even more
unfavorable than had been anticipated and
fcreshadowed the gravest consequences. 1t
was also implied that the company would be
unable to meet interest due March 1. amount
ing TO about 100000. Official denials of the
rumor were made about the close of business
subsequently the stock rallied to %, and closed
at 2i14' a net concession of 4A. In the indus
trials, Leather preferred was pressed heavily
Tor sale as result of the more exhaustive re-
view OF the annual report of operations pub
hshed yesterday. The stock led the market In
extent Of transactions and closed at decline of
per cent on the day and of per cent below
yesterdays final figure. The general market
moved irregularly, but the fluctuations except
In one or two instances, were not wide. Oper-
atoms for the day began with depressed
market, which was partly attributable to a
change Of front to the bear side by foreign
dealers In Americans. RealiZations were also
effected by local operators in various securi-
ties.
The depression in Leather preferred, re-
ferred to above. unfavorably affected others
In the industrial group. Sugar yielded 15s per
cent to u61a on offerings from interests re-
Gently Identified with the bull movement in
the stock. Tennessee Coal without noteworthy
explanation, declined and subsequently, recov-
cred IL per cent. The railways were as
rule, quiet aside from st. Paul and Louisville
G. Nashville, in which fairly extensive business
was done. and moved within narrow limits
The downward tendency was checked late in
the day, and, under moderate covering by
shorts, substantial gains were made in num-
Der OF stocks. Tobacco improved Ia, Sugar
vances occurred in other shares The meeting
OF the sales agents Of the anthracite coal COM
panles which was to have been held today was
called off. II is understood that the production
for March will be on about the same basis as
TINS month, namely, $500, 900 to 2,750, 900 TONS
The companies are beginning to receive the
full circular prices. The market closed Quiet
and firm In tone, with the changes unimport-
ant In either direction
The railway bond market exhibited a con-
siderable falling off in activity, and a shading
OF prices occurred In the speculative issues.
government securities ruled dull and firm
with offerings aggregating $500
transactions In silver certificates were noted
az oS1a Tor $50 600, as against 20 the previous
transaction, Monday last.
Sales OF stocks today included: American
Tobacco, 26. 700; American Sugar, 27 800 Bur-
iington, $500: Baltimore & Ohio 1O, 300; Louis
Viiie, lb600 Missouri Pacific, 3,700 Reading
$500; Rock Island, $500; st. Paul, 19 100; Ten
nessee Coal and Iron, $500; Union Pacific.
30. 000
OF the leading railway and Industrial stocks
yesterday;