St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-04
SPECTATORS IMPATIENT OVER
DELAY, AND STOCKS RATHER
DULL.
HIGHER PREMIUMS ON eo' D
sAGGING TENDENCY TO PRICES,
BUT A RECOVERY BEFORE
THE CLOSE.
DEPRESSING LEATHER REPORTS.
Improvement I'm Tobacco Shares
Moderate Business In Bonds at
Lower Prices.

NEW YORK, Jan. 3.-The stock market
displayed sagging tendency in prices dur
ing the greater part OF the day, and the spec
ulative movement was sluggish. Suspense is
growing acute in financial circles regarding
the proposed bond ISSUE as the matter had
been generally expected to be closed by this
time. The same condition applies to almost
all other branches of Wall street business,
which are rendered unsettled by the pro-
tracted delay on question of such decided
interest. The conflicting influences Of pre-
MUM gold to arrive and coincident ex-
ports of gold from this country, uncertainty
regarding the probable course of the money
and commercial paper markets, and the liqui-
dation in American securities in London, due
to the Transvaal trouble and other causes, all
contribute to the disquiet Of local dealers and
investors.
Foreign cables came lower previous to the
opening here. and the ArDitrage operations for
London accounts were for sales. reported
increase in the premium in gold as a COM
modify to IL per cent bid and IL asked, and
the engagement Of S1,000000 in gold for ex-
port tc Europe tomorrow, also appeared to
perplex the professional dealers, who, at pres
ent, control the stock tape. Leather pre-
ferred was depressed 25s per cent on rumors
that the forthcoming dividend would be
scaled or passed, and revived discouraging
suggestions as to the adverse effect on the
duction of a new process for tanning leather.
Tobacco displayed marked strength through
out on rumorS, now quite familiar, of inn
pending compromise with the independent
manufacturers involving an advance of 1c
pound in Battle AK plug brand. Whatever
the merits Of the reports may be- they occa-
stoned a stampede of the shorts to cover re-
sulting in an advance of "a per cent to
"a, with the Improvement most marked in the
final hour. The buoyancy of this specially
had Strengthening influence on the general
market late in the day, which was helped by
decided tendency toward ease in call money
rates RecCveries from the low points were
accordingly ranging from I to 15s per cent in,
Sugar, st. Paul. General Electric, Manhattan,
New Jersey Central, Tennessee Coal Leather
preferred and Baltimore &c Ohio. The closing
was slightly more active and was firm in
tone.
curities was moderate today, with lower prices
ruling The sales aggregated 81, 116 600. The
recessions were headed by Baltimore & Ohio
5s of 1925, which fell 101A per cent to &c. and
to 81. Some substantial gains were noted in
other usually inactive mortgages There was
a sharp recession in the bid quotations for the
new 4s, the last call showing a concession of
" per cent The 5s also sagged sharply,
but improved 1R per cent on the final bid
Only $4,000 of bonds were dealt in. In state
mortgages $4,000 Virginia deferred 6s
stamped. and 81 900 deferred Centuries
ch nge1 hards at S light Improvement in
prices.
The total sales Of stocks today were 49, SS3
shares, including: American Sugar, Is 900;
American Tobacco, 2S,900; Atchison 3, 100; Bur-
lngton, $500; Chicago Gas, 1900 General
Electric, 3,400; Louisville & Nashville 1890:
Reading, $500; U. s. Leather preferred, Is, 400;
Western Union. $780,
The following table shows the fluctuations
of the leading railway and industrial stocks
yesterday: