St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-11-26
BEARS TAKE COURAGE.
Foreign Market for American
stocks EsepOrted Higher.

New YORK. Nov 25.-The stock market to-
day was less active than usual of late and
there was reaction of material proportions
all along the line. Many evidently felt that
the pace of the improvement in values of
late has been too rapid, and were prepared
to take profits already accrued. while the
same sentiment gave the bears courage to
again try their hands. The London market
reports showed that there was an abundance
of money at low rates there. and the
market for American stocks was
reported to be higher, but The
news from South America was
not so encouraging. the premium on gold in
the Argentine being up to a very high figure
again. and that was expected to be the posi-
BILE cause of drain upon this country for
gold to supply the want by England. There
was decided weakness in Sugar on the decis-
ion Yesterday, and these causes operated
with the fact that day after tomorrow will be
a holiday. which induces liquidation on both
sides of the account to cause a recession in
values for the time being. The opening was
irregular, as usual, and the early trading
even developed some strength. especially in
the grangers after the first decline. There
was marked absence of the support
0 %hn the has Kept ead the ds Inn market going
loan crowd developed the fact that there
bad been material reduction in the out
Standing short interest, and the early demand
being satisfied the pressure to sell soon started
the market upon the downward direction
The bears and traders hammered the list
quite impartlally, and everything on the
active list soon showed the effects of the
operations for decline. The afternoon wit
messed general drop all around, and while
Rock Island and some of the others showed
q stubborn resistance 10 the pressure they
suceumbed after a while and joined the
downward movement in earnest, and lost not
only all the early Improvement but some
thing IN addition. st. Paul. Union Pacific
and Atchison. led the list in ac-
tiyity, but Jersey Central and Mis-
souri, Pacific displayed most weakness,
while the low-priced specialties which
movement were to-day very we'll held. The
decline received no check and the final
prices are in most cases the lowest of the
day. the market closing weak and active. AS
usual after reactions, a broader market may
be looked for. and it is likely that the an
nouncement of a change in management in
Union Pacific. which is expected tomorrow
Will be used to start the market up again.
The Gould party left the city this afternoon
to be present at the Union Pacific meeting to
be held in Boston tomorrow. Wall street
begins to again attract attention as offering
the best opportunity for both investment and
speculation, and the ease with which prices
have been advanced shows that a large
amount of securities have been taken from
the street during the recent decline in prices
The final changes to- day are almost all in the
direction of lower figures. Sugar is down IA
Jersey Central ga. Missouri Pacific 2ls, Chi
cago Gas, Burlington and Lackawanna each
rs, c., c., c. & st. Louis Ia, Atchison, St.
Paul and Union Pacific each 1l2 New Eng
land las. North American Ia. Northwestern,
Louisville d Nashville, Lake Shore, Northe IN
Pacific preferred; Reading and Richmond &
West Point each lis, while the others lost
only fractional amounts. Railroad bonds
were quieter, but the number OF issues
traded in exceeded those of any day for some
time, while the market failed to respond in
any manner to the weakness Of the share