St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-22
HEAVY MARKET.
The Session in Wall Street Slug
gISh ThrOurhOlaf


New YORK, Dec. 20.-The stock mar
ket to-day was intensely dull through
out the session and was heavy. Before
the close, however, there was more
strength displayed, especially after the
publication of the bank statement,
which was the best one made for long
while. The gold received on WedneS-
day counted for only three days in the
averages, but nevertheless the surplus
reserve shows an increase of $3S91 1000,
and is left over at S4.OO0,0OO. There was
also an increase in the specie held of
81, 136, 100, and as the statement was
made up On rising averages. the actual
condition Of the banks is i'm all proba-
bllity much better than shown by the
statement. In addition, nearly S3,0OO,OOO
more gold arrived this morning, and
will be factor in next weeks state
ment. The statement, however, un-
doubleday reflects return of portion
of the locked up money. and for addi-
tlOnal evidence upon this point the ease
in the money market of late, together
with the fact that so many time loans
have been made during the past
week that nearly every house having
suitable securities has been able to
secure all the time money wanted, and
to-day many brokers called upon first
money at 6 per cent. Many of tire in
estitutions who have been engaged in
locking up their funds are now trying
! to make long loans before the January
disbursements, as the payments at that
time are estimated at about S120.000,0 900.
Some of this money must find its way
into Wall street in the purchase
of bonds and dividend paying
stocks. The market to-day was
almost entirely professional. and the
movements in the great majority of
T, the list were without significance. The
weakness in the early trading resulted
In fractional losses in many stocks,
among which Lackawanna was most
prominent. but at the same time Sugar
was especially strong, aud the only
downward movement of importance was
that in Silver Certificates, which fell
away IA per cent from last evenings
figure. After the publication of the
bank statement, however, the reaction
which haG begun before made marked
progress, and in all except few UNI
important instances the early losses
were not only refined. but something in
addition. Lackawanna and Louisville
each rose per cent. and the entire list
was left at small fractions better than
last evening. Sugar, however, shows
gain OI Is per cent. railroad ponds
were equally as dull as stocks, the sales
reaching only ss63.oOo, while the fluctu-
ations were upon the same limited
scale. San Francisco, class G, lost
8 at LOS, and Toledo, st. Louis
u Kansas City firsts 4 at So.
Government bonds have been dull and
steady. State bonds have been neg
iected. The squirt in petroleum, which
was the feature Yesterday, was not con-
tinued, although Lima oil made sharp
gain i'll the first hour. The market
opened steady and yielded gradually
closed weak. Pennsylvania oil, spot,
opening 7115; highest 7l4; lowest
6S7s. closing 6S175. January options
opened II; highest 711S; lowest 6S7s,
closing 6S. Lima oil opening 10; high
est 21; lowest 1917, closing 1871. Total
sales, 15S,000 bblS.