St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-07-11

capital that they would have us believe.
At the same time the scarcity of bills
offering in the exchange market seems
to have no other explanation than the
recent selling of stocks for London &C
count. The railroad situation also gets
cOnsld cradle attention from the bears.
At the same time the railroad earnings
con tinue to show the most satisfactory
returns, and the st. Paul, for the first
week In July, returns ali increase of
$38, 1919 over those of last year. The
final passage of silver bill will in all
probability fail to create boom imme-
dlately, but that there will be more
healthy advance than followed the first
effort to pass a bill. admits of little
doubt. To-day'S market was a
reaction from the unnatural
depression of yesterday and
in some directions exhibited more real
life than has been seen for some weeks,
but the general list exhibited a steady
hardening tendency after the first effort
at depression had been given up. which
was very gratifying to the bulls. Lon
don was factor in the early rise, but
turned seller on the improvement and
aided in bringing about reaction; but
the selling orders were soon filled and
Roadway. st. Paul and Northern Pa
cific preferred were prominent in the
early dealings, but later New England,
the trusts, Lackawanna and the
grangers in general were the
leading features. Just before the
session closed, however, Messrs. Kid
der, Peabody & Co., engaged $1,000. 900
for export and precipitated a selling
movement which reached all portions
of the list and large proportion OF the
material gains were lost, the market
closing weak at the concession. Most
of the list are higher tonight, however,
and Chicago Gas and Lackawanna are
up per cent each. Railroad bonds
showed to a limited extent in the new
strength of the stock list, and while the
great majority of issues traded in were
nothing more than steady, few show
material gains this evening. There
were no special features, though the
dealings reached S958,000. Government
bonds have been dull and steady.
State bonds have been dull and firm.
The Post says: So far as the money
markets and the South American panic
are concerned, the unfavorable condl-
ton can at most be only temporary;
There can scarcely fail to be an unusual
dnOuub VI luOuCy oCChlhS INV OPSNu
lative Investment before the end of the
month. The granger roads are still try.
ing to come to some agreement, and
they will probably do so; but, even if
they do not make a very decided sue
cess of it, their stocks Especially st.
Paul. have been pretty largely over
sold, and there is now sufficient
outstanding short interest to help
advance the price with other
stocks when any general improvement
in the speculative temper of the market:
Except the possibility of the exports of
some gold within the next week, every
thing in the general situation looks ia
vorable for better prices for stocks, and
even If few millions of gold should go
out, the exports have thus far this year
been so light that they can easily be
spared. The total sales of stocks to-day
were 1s2,O64 shares, including: Atchl-
son, 15,O50; Delaware, Lackawanna q
Western, 81, $50; Louisville & Nashville,
$3.50; Missouri Pacific, 4,5OO; Northern
Pacific preferred. 10000; Richmond &
West Point, 1880; st. Paul, 27.170;
Union Pacific, 1O,430.