St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-08
FITFUL TRADING
Marks the Course of the Wall
Street Stock Market.

NEW YORK, Dec 6-The stock market to-
day was again Danicky. and in the two hours
of business The. e were large transactions aud
decided losses i'll all the active stocks. al
though the market retained its narrow char
acter and the general list was comparatively
neglected. and only one of the inactive
stocks-lllinnls Central-shoWed any ma
terial movement during the day, although
many sold at prices much lower than those
of a few days ago. The London market was
strong, and news from that center reflected
confident and hO"cful feeling. but the refusal
OF the Bank of England 10 furnish gold bars
for export to this Country was looked upon
as an unfavOrahle factor here and undoubt-
edly had great deal of influence i'll making
the discouraged feeling which seemed to pre-
vail among holders or securities. The fact
sthatt there should he gold ordered. however,
il undoubtedly most encouraging item in
the outlook for next week is already felt to
be more cheerful. as il will be impossible for
the Bank of England to prevent much longer
the shipment of gold i'll large amounts in set
t1ement of the Indebtedness for our exports
already delivered in England. The room,
however, was very beariSh, principally upon
the recent almost daily announcements of
trading element was inclined to discount
to-day bad bank statement. The latter fUl
filed their expectations TO the letter and The
banks are once again over S2,uOO.dOO below
the requirements of the % per cent rule.
The opening. therefore, under these circum-
stances not only showed none of last even
ing's firmness, but was made on large bust
nessIat from "a to " per cent lower than last
nights figures. There was perfect rush of
short sales in all the leading stocks, and I'M
doubtedly large blocks of long stocks came
upon the market and the Gould stocks were
pressed for sale with special vigor, and all
the Western roads suffered severely. After
the first decre ase there was a halt in
the downward movement, but the sell
ing was soon resumed, and upon the
issue of the bank statement the selling again
assumed the proportions of a semi panic.
I he traders covered to some extent i'll the
last few minutes upon the heavy selling. and
in making slight rally from the
lowest prices in some cases. This close, how
ever, was yet decidedly weak, with most
stocks at the lowest points of the day. The
talk on the street this evening is generally of
a bearish tenor but the outlook is really bet
ter than for some time. The important losses
for the day are as follows: Missouri Pacific.
Sig; Union Pacific, 5: Rock Island, 31s:
Northwestern, 37s; Sugar, 25s; Western
Union. 2I5; st. Paul, 3le; Atchison, Chicago
Gas, Lackawanna, Northern Pacific preferred,
2ss; Burlington, 2IS; c., g., C. & ST. L., "a;
Pacific Mail, "a New England.2: Lake Shore,
LIS, and others smaller amounts. Railroad
bonds were comparatively quiet the sales of
all issues reaching SS6S, 900 however. the bust
ness heing better distributed than ttat in
shares. The market was, of course, weak,
but the important losses are comparatively