St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-22
Walls AMONG WALL STREET
MEN.
STRENGTH WAS SPASMODIC.
LUTON WOULD BE VERY
WELCOME.
THE ANTHRACITE STOCKS SUFFER
That Industry Approaching Con-
ditiOn of Utter DemOraIiza-
ton.

NEW YORK, Jan. PA more cheerful
| temper prevailed in Wall street today, and this
condition was reflected in spasmodic bursts
OF comparative strength and animation in the
stock speculation. The Improvement was not
uniform, however. The more confident tone
WAS based upon expectation Of continued
easy condition Of the money market and the
! belief that the withdrawals Of gold for ship
| rnent on Saturday will be nominal in amount.
The impression that the proposed Monroe doc
trine resolution of Senator Davis would be
| either postponed or defeated caused a feeling
Of relief in financial circles which may or
may not be justified. Considerable favorable
significance was also attached to an announce
| ment that an English insurance corporation
would subscribe to 900 of the new issue
| OF government bonds. ripple of strength,
which was of noteworthy extent only in New
Jersey Central, caused a trif1e more of interest
| than has yet been manifested in relation to
the impending conference of the presidents of
the anthracite coal companies. The anthracite
industry, according to the best authorities, is
rapidly approaching a condition of utter de-
moralization. Coal is stocked everywhere,
and price are not far from the lowest figures
recorded In the spring Of 1885, The unfavora-
bic influences of the protracted unusually
mild weather and the uncertainty ruling as to
the financial outlook are also felt in t he trade.
1t is hoped, however, that the powerful assist
ance OF the reorganizers of the Reading rail-
road will be interposed to avert a recurrence
of the deep depression of the industry which
1
| into the earnings of the producing and carry
ing companies. The market opened firm and
advances to the extent of per cent were soon
recorded in some instances. The improve
ment was checked soon after the end of the
first hour, when 81 UT reaction occurred.
The upward movement was soon resumed,
however, and at the top figures gains were
scored of las per cent in Sugar, Chicago Cas-
Electric, L. & H., and the grangers. Late
| in the day an attack was made on the indus
trial shares and material declines were eff
fected in that class The railway stocks also
sagged, but the losses in them were only frac-
tional. Chicago Gas was raided on the re-
fusal of the state authorities of Illinois to
accept or permit to be filed the certificate OF
consolidation of the various properties. The
stock slumped per cent to 641a. Sugar
and Tobacco fell 1A92 per cent respectively
on rumorS OF impending measures in the New
Jersey legislature to forfeit the charters OF
the two companies. The aforementioned re-
covered one-half of the decline in the final
dealings Leather preferred fell IL per cent
in sympathy. Western Union was pressed for
sale to a comparatively large extent despite
denials by leading officials of the unfacorable
rumors in circulation regarding the property.
The market closed quite and steady with
slight gains general in the railroad list.
The bend market operations were on a de-
creased scale, the total dealings aggregating
only $4,000. Prices were firm.
Governments were decidedly lower in the
bid quotations, especially for the coupon
As. which ruled " per cent off. No trans
actions were made at the board, but COM
paratively large transactions were closed over
the counter.
The sales of stocks today included: Amer
lean Sugar, Il 290 American Tobacco, 1890;
tilling, $500; General Electric. 1900; Louis
vile & Nashville, 700; Rock Island, loo: ST.
Paul 49, 800; Leather preferred, $500; Western
Union, II 300.
The following table shows the fluctuations
Of the. leading railway and Industrial stocks
Yesterday: