St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-04
MARKET ENTIRELY TO THEM
SELVES.
TRADE is SMALL IN VOLUME,
lNDlFFERENTLY DISTRIBUTED,
AND WITH A LOWER RANGE
Of PRICES.
sENArE's ACTION ON BOND Bill,
An Uncertain Factor in Speculation
Large Domestic Subscriptions
for the New Bond Issue.

NEW YORK, Feb. 3.-Today's stock specu-
iation was almost entirely professional. The
volume of trading showed a considerable con-
traction, compared with recent records, and
the business was indiferently distributed.
London, as had been expected came lower for
Americans, but the losses below New York
parity did not reach full figures. There was
also some selling for foreign account in this
market on the passage in the senate of the freq
silver coinage amendment to the house bond
Dill. The same influence was operative in
causing lower range Of prices. 1t was also
reared that the success of the government
pono issue, as popular loan, might be jeop-
ardized. Foreign bankers, however, held con-
nlcting views ON this point. On the one hand
II was suggested that the largest expected
German subscription for the bonds, amount
ing to about $25, DOC, 600, might be withdrawn
Wholly or in part, while other interests made
the point that 1t was just as fully recognized
abroad as In this country, that defeat awaited
the Tree silver measure either in the house
OF at the hand Of the president Domestic
SUBSCRIPTIONS for the bonds were very large
6los 1or S60Vo,0O0 were received by the United
states trust company in the last fifteen min
utes OF business, and it is trustworthy stated
that the institution named will put in a bid
tor considerable more than one-half of the en-
tire loan. Sugar led the market in point of
activity. Outside of that stock the largest
transactions were in the grangers and Reading
The industrials displayed the greatest weak
neeS, tHe oeciineS DelnS attributable to special
influences. General Electric yielded pa to 27al
Lead broke 12 per cent on the announcement
or the death Of w. P. Thompson president of
me company. Sugar scored loss of about as
much on successive reductions reported in the
prices OF domestic refined sugars and on re-
vlved rumors of impending action by the Ger
man reichstag increasing the bounty paid on
sugars exported from that country Missouri
Pacific was the feature of the railroad group
decl1nlng per cent without attending explain
alton or gossip. The drop in price was event
ually accredited to liquidation by insiders.
The reactions in the balance of the list WERE
as rule, OF less consequence than in the
stocks noted. Around l o'clock the market
enjoyed sharp rally, in which Rock Island
was almost conspicuous, at an advance of l
per cent Covering Of shorts was the main
spring OF the movement, induced partially by
marked weakness in the sterling exchange
market. Posted quotations were reduced 1
per cent by leading drawers and sharp con-
cessions were also made in rates for actual
business. In the late dealings the market
was most conspicuous at an advance of l
rally from the lowest, but with general net
losses resulting from the days operations.
Railway bonds ruled dull and lower The
declines were material, however in only one
or two instances. The sales were 81, 112, 900.
Sales of stocks included: American Sugar,
IL: 800; Atchison. $500; Burlington 10 300; Dis
tilling, 5000; General Electric, 1900: Louis
Vile & Nashville. $500; Missouri Pacific, $500;
Heading II. 400: Rock Island, 10, 800; st. Paul
1850; Southern preferred, 400; Tennessee
Coal & Iron, $500: Union Pacific certificates
5000; w. L. E., 1920.
The following table shows the fuctuation,
u the, leading railway and Industrial stocks
vester(ay: