St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-20

London favorites, the opening prices were
lower, ~ a. l2 per cent being taken from
last nights prices. The talk of buyers aud
The selling of the opening encouraged the
traders to take the short side for turn and
steady pressure was brought upon one or
Two STOCKS among which Louisville was
most prominent. The downward movement
however, lasted only for Il half hour at
first, and further slight reactions being
lost, the market rallied 10 about the level OF
the opening tgures, but became insufferably
dnil and long period of stagnation i'll prices
followed. Lake Shore was one of the strong
spots, and st. Paul and Union Pacific were
well held, while silver certificates, after open
ing down, retired per cent farther. In the
last hour there was some weakness, and
Louisville lost another fraction. The
market. however, closed very dull and fairly
steady at about opening prices for most of
the list. The final changes are almost all in
me direction OF lower figures but only
LOUISVILLE d Nashville with loss of IS,
ana silver certificates with a loss of ll2,
show any material change. Railroad bonds
were more active and stronger than stocks, Tut
me same lack OF feature marked the dealings
ana the final changes are. as II rule, equally
as insignificant as those in shares. sales,
Sol4, $50. Government bonds have been
dun and steady. State bonds have been duh
and featureless. There was sudden burst
of animation in the petroleum market to-
DAY. one OF the most expert manipulators
on the stock exchange, who has had selling
orders. Ill the market, having acquired a
morning and then began TO rush the market
up on the shorts. There was good deal of
climbing 10y the bears. but there was little oil
III sight Lima OIL shared in the advance and
strong ADVANCED s 7c for a'As SPOT ope and
VAC for January option in Pennsyi-
yania oil. January option reacted I2c
later, and the market closed firm. Pennsyi-
Yanla oil, spot opening 64l2c; highest.
7Il2c; lowest, ode; closing, 7lI2c. Lima oil,
opening. lie: highest. 18c; lowest, lie;
closing, lSc; total sales, 22l,O bbls. The
Post says: "St. Paul, Atchison, Louisville,
Lackawanna, Rock Island. Union Pacific and
Reading together furnished 81 per cent of all
the trading in listed stocks. There was con-
slant hammering of these stocks in q small
way, and constant efforts by the circulation
OF damaging reports in the street to depress
their prices. There were exaggerated reports
OF petty strike of switchmen on the Union
racine, and Atchlson was sold short on pre-
dlcuons that its earnings would show q
large falling off in the next six months be
cause It's increase of earnings heretofore
had been acquired by illegltimate methods
which had caused animosity on the part of
the Rock Island and other roads. In regard
10 Rock Island itself, the sudden drop OF the
ROCK Island extension collateral trust 3 per
cent yesterday from SO to 95l4 was claimed
to be the effect of sales by inside people,
who were dubious about the effects of
short corn crop in the country west of the
MISSOURI river. But to-day the Rock Island
extension 5s we're up again to 97l2, which is
just where they were three weeks ago, so
that the sudden selling of the bonds may
have only been ruse to help depress the
stock. The short selling of Reading is
claimed to be for account of insiders, be-
cause the borrowing to apply on these
short sales is claimed to be by inside
people who are anticipating q bad annual
statement, and are selling snort now against
their long STOCK TO be delivered later. The
only thing about this that gives il color of
probability is The general belief that the an
nual report will be unfavorable. Silver was
one of the most active specialties, ard had
larger and more significant decline than any
thing else. On Monday, Dec. s, silver bull
ion certificates sold at lO1I2; but upon re-
ports from Washington thai the senate eau
Gus committee would probably recommend
the purchase of l2,O00,UOO or l3,UUO, 900
ounces in addition 10 the 4,500,OOU ounces
per month now being purchased. the price
was advanced TO ITO on Monday, the 18th.
The decline to-day to loo is an index of
the diminishing belief that any such measure
will be adopted.