St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-23
A POLITICAL MARKET.
Such Is fEae Principal Feature
Recorded in Will Street

NEW YORK. Dec. 22.-The stock market to-
day retained its purely political character,
ana business dragged slowly along with little
feature. There Is now much more settled
feeling IN financial circles In this the sup
ply of time money is increasing, though Wall
street brokers are not looking for an increase
III business until after the LIST of January, but
after that time large Investments are OK
pected. both in bonds and stocks, and there
is confident feeling that London will in all
probability be ready to again take hold of
American securities. The market outside of
few shares was entirely devoid of feature
to-day; but as usual in the duIlness, the pro-
fessional trading elements arc bearishly in
chned, and The selling for the short account
by those opera ors further than the ballot
business. caused n slight downward tendency
which had the effect of leaving most stocks
fractionally lower than Oh Saturday. The
Vanderbilts were the strong points in the
list: many rumors in regard TO the statement
OF the Lake Shore and the probability of an
increased extra dividend stiffened ND not
only that stock, but other Wander
bits as well. On the other hand,
silver certificates were still lower rejecting
the disbelief that the proposed silver legisla-
ton Will be passed. Sugar certificates were
strong in the early dealings on the covering
of moderate short line. but sagged away
later in the day, losing most of The gain
Reading became the strong feature toward
the close, and advanced fractonally. but
enough TO leave it materially higher than
Saturday on the news of its requirement OF
extensive terminals i'll Philadelphia. There
was considerable weakness i'll the grangers
today, ST. Paul and Atchison being specially
conspicuous at times. but in none was there
serious decline. The market for The gen.
erai list dragged along. and finally il closed
dull and steady at fractional concessions
from the opening figures, which were slightly
lower than those of saturday. The only ma
terial changes of note were the advance of
lss in Reading and the decline of 1888 in Pa
cific Mail, which was adversely affected by
81 1ha III l@;l
at present. Railroad bonds were dull,
and presented as little feature as
stocks while no pronounced tone
could be detected in the dealing. The bust
ness reached only $4,000! and the final
changes, while irregular, are in few cases of
Importance Brooklyn elevated IDS, how
ever. lost at 50, while ST. Paul rose to l02;
Northwestern consols, de to 1892, and
NavigatioDs j SITS. IA to 1uSi2. Government
bonds have been dull and steady. State
bonds have been dull and steady. Petroleum
January options advanced 2l2 in the early
hours on some buying from the West. The
opening was steady and after the squirt the
price reacted ! a and the market closed dull.
Pennsylvania oil, spot, opening 90. highest
GOA. lowest 60, closing 691l January OPP
ton opening 6S, highest 7UIa. lowest 6s,
closing 69A., Lima oil, no sales. Total sales,
$1,000 barrels. The Post saws: The supply
of cotton bills in the exchange market has
been increasing for a week past and they
sold at 81. 7Sl2 to-day. As,ln accordance with
other years, there are over 2,0Ou,0 bales
OF cotton to be exported yet, which will make
over 500, 900, 100 OF exchange between
now and next summer, and as the cotton eX-
ports were retarded by the financial difficult
ties, both here and in London in November.
1t Is to be expected that it will go forward
more freely from now on, and create All in
creasing supply of exchange. decline of
lls cents on the pound from present prices
for cotton bills will make it profitable to buy
them to cover the imports of more gold, and
ic no inn nhph fhat -ry-i11 ha
to that price before many days. The sum Of
S539.00O of gold came in on two steamers
this morning. There is no such special
emergency requiring the importation of more
just now as there was week ago. and ii more
comes it will be in the payment for cotton.
If in addition to this London becomes a
buyer of stocks, the imports of gold would be
very large.