St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-30
STALWART FRONT
Presented by the Wall Str,
Stock Market.


Stock Market.
New YORK, Dec. 29.-The stock mar
ket to-day presented stronger front
than it has for the past week, and at
the same time showed more activity
than for several days. The improve
ment in the market may be traced to
several causes, but chief among them is
the fact that money has not become as
stringent as was feared approaching
the first of the newe year; and while
there was firmer feeling in money for
almost all the forenoon, the rate on call
being run up to 8 per cent at one time,
still it later declined to per cent, and
the easing of the rates was followed by
a more confident buying Immediately.
Many investors, anticipating the inter-
est and dividends they will receive on
Jan. l, are making purchases of divi-
+ dend stock and good bonds, ami these
purchases were power in the market
to-day, Inducing liberal covering of
shorts, aided by buying for London &C
count. The buying in Western
Union, Wheeling g. Lake Erie,
st. Paul, Union Pacific, Rock
Island, the VanderbiltS and the
coal stocks was excellent. and among
those shares some very material adj
vanceS were scored, although the total
of the days transactions is not large.
The cold weather and the increased
hopefulness of the outlook for the coal
stocks generally induced the covering
of more than one line of shorts in Lack
awanna, to which may also be added
the effect OF the late statement for the
past year. Union Pacific was sluggish
throughout most of the day, but re-
port that the company had secured the
needed funds, while some progress had
been made in the plans for the funding
of the floating debt, helped it up in the
afternoon, and its gain for the day was
quite marked. The opening of the mar
ket was strong, and while the temper of
the room was not bullish, there was a
marked disposition to cover evinced by
the shorts, and good buying for the long
account and by London kept the move
ment advancing. There was conSidera-
pie opposition to the upward movement
in the first hour, but the pressure to sell
was then withdrawn, and after money
became easier the advance was ac-
CELEBRATED, the market closing act
I've and strong at the highest
prices of the day. The final
changes are all advances, and Lack
awanna is up 3. Wheeling Lake &
Erie 2ss. Rock Island,24; Union Pacific,
New York Central and Northern
racine preferred each ~; AtchlSOn,
Louisville IL Nashville and Western
Union each "; Burlington rs, st. Paul
II, Northwestern 1]6, and Missouri
Pacific and Sugar each per cent There
was likewise broadening cut of the
bond market, and while the aggregate
of the transactions was only S1,SO9,O00,
out of which AtchiSon incomes contrib
uted S163,000 the business was distrib-
uted among an unusually large number
of issues. The tone of the dealings
also showed pronounced strength at
times. and many marked gains resulted.
AtchiSon incomes rose "a to 40, CheS-
apeake & Ohio "a" 39l to lis, st. Paul,
G. 81 NJ, M. S. 214 to 2l2I. and Pensa-
cola & Atlantic firsts 3X to 1O3%.
Government bonds have been dull and
steady. State bonds have been dull
and steady. Petroleum-.January OPP
tons advanced lie on covering of shorts,
then reacted &c and closed dull; Penn
sylvania oil, spot, opened at 711sc,
highest 712sc, lowest7115c; closing II &c;
January options opened at tic, highest
re, lowest 71c, closing 71%c. Lima oil,
no sales. Total sales, 10000 bbls.
STOCKS-CLOSING PRICES.
New York Dec 90