St. Paul daily globe., 1890-12-13
STOCK MARKET STRONG.
Shorts Come in and Pur.
chase Literally.

New YORK, Dec. 12.-The stock mar
ket to-day was strong though compares
lively quiet, the shorts and London buy
ing iiberally upon the expected increase
in the reserves to be shown by the
banks tomorrow. and also on the feel
ing that Mondays meeting of railroad
presidents will result in improving the
earninss of trunk lines in particular
and of sub sidiary roads more especially
in the West. While there is some
doubt as TO the bank statement of to-
morrow showing any material increase
in reserves owing to the fact that
for the bonds redeemed was taken awav
and not paid into the bank, the state
meut OF next week can hardly fail to be
otherwise than good owing to the gold
which is now in transit from London.
The financial situation is undoubtedly
easier, but very little time accOmm0da-
tiOn is to be had, and every favorable
prospect is hailed with JOY by all classes
of the community. The outlook for the
near future is very encouraging, and
the disbursements of the LIST of January
for interest and dividends is estimated
at over Sl20,000, 600. London was in
f1uenced by the more hopeful state of
affairs here this morning and not only
buying orders were in this market for
arbltrage account, and the shorts, on the
strength of this, we've eager bidders
for stocks at the opening, which showed
advances of from a to l per cent over
last nights figures. The urgent de-
mand from both classes of buyers sent
prices up rapidly in the first hour. but
the bears. when the buying showed
signs OF Stacking Off, stood ready to at
tack both Union Pacific and Lacka-
wanna. The talk on the coal stocks is
bearish. Only Lackawanna, however,
gives any indication of desire of hold
ers to pant with their stock. and it al
ways takes a big bear raid to break it.
Bears on Union Pacific also, though the
prospects of the company are now as.
years. The latter yielded more read
lily to the raid, and 211s per cent
was knocked from its price at
one time, which brought the
entire list back portion of
the way. The effort to GiSlodge long
stocks and check buying, however, was
not success, ana was soon given up,
the shorts continuing to buy while
among most of the active shares there
was steady stream OF good purchasers
and prices again moved upward with q
very uniform advance. Money was un-
usually easy for a Friday, most of the
business being done at about 8 per cent.
which helped the advance materially.
There was no cessation of Importance
in the upward movement, aud it con-
tinued until the close, which was quiet,
but firm to strong, at or near the best
figures of the day. The gains IN
all the active stocks were very
marked, and Rock Island is uD
35; Louisville & Nashville. 81: st.
Paul, 25s; Missouri Pacific, 80; North
western and Cleveland. Columbus, Gin
cinnati &.St. Louis each 214; Burling-
ton, rs; Lackawanna, 2; Atcnison. ~;
Loke Store, "a; Colorado Coal. New
England and Wheeling & Lake Erie
each 4 Chicago Gas, Is. and jersey
Central. New York Central. Reading.
Union Pacific and Western Union each
per cent. Railroad bonds presented
about the usual amount of business, the
sales of all issues reaching $1,000, 600;
but the market sympathfzed closely