St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-06-24
FINANCIAL.
New York.

NEW YORK. June 23.-The feeling in Wall
street is, if anything, rather less confident
than OF late, the renewal of the GOLD ship
ments having had discouraging effect upon
holders, while the bears are making the most
of the occasion by the circulation of all sorts
of rumors. The encouragement. however
is confined entirely to the smaller class of
spectators. The outlook is that until some
thing of more positive nature is known, 1t
will be q traders market, with the extreme
dullness aud light fluctuations we have had
Tor some time, accompanied by no decided
tendency in prices. Today's market diff
fered In no essential respect from
those of the last week or So and while there
was weak opening continuing the effect Of
the gold shipments and other depressing in
fiuences of yesterday, there was no severe
pressure to sell in any part of the list and
after the early selling orders by the foreigners
were executed the market displayed rally
ing tendency aided by buying for London ac-
count st. Paul, Louisville and Union Pacific.
Lackawanna was the only weak point in the
railroad lists. its course of yesterday being
reversed, and among the industrlals Cordage
dropped. Chicago Gas in the late trading
also showed the result of bear pressure and
Jersey Central, after selling off materially
failed to recover, and is the only stock
showing any material change for the day.
Prominent bankers here say that the
movement of the crops will not take
as much money from New York as has
been anticipated and that the Western banks
are holding their funds instead of sending
them to New York At present, therefore
there is very little. Western money on deposit
here. The Western banks show that their re-
serve is larger than ever before, aud that they
are in q position to furnish all the money
that will be needed for the movement of the
crops. The market in the final dealings gen.
orally moved upward slight'fractions, and
and finally closed dull, but firm, at small and
irregular changes for the day, though Jersey
Central is down IA per cent. There was a
widening Of the railroad bond market to-
day. but the aggregate result Of the
trading was insignificant still both as
TO the amount of business done and
the effect upon prices in the list. No move
ment of note is to be detected among the
issues traded in, and the only changes of
note are in the inactive bonds. The sales
reached S677, 900, but dullnei was the only
feature of the day. Government bonds have
been dull and heavy. State bonds have been
dull and steady.
The Post says: yesterday 1t was sener-
ally reported that the embarrassed London
house OF Murietta would be compelled to an
nounce its formal suspension. Over night,
however. it seems that arrangements were
made to carry the concern along, at any rate
here, and the incident was Of
little interest except as indicating
the reasons for London's absence from act
i've trading Jor the rise in our stock market.
The London houses which have figured
prominently in past bull movements in
Americans" si0ply have not the money to
put into such Venture now. even if they
had the will The Muriettas, like the Bar
ings, were equipped with assets which were
literally unavailing unless, as in the present
Instance creditors carry them forward from
motive of self-defenee. Perhaps the most
unpleasant consideration of all is that secur-
tiles such as the South American bonds, in
which all of these houses were dabbling have
not appreciated in value since the November
crash. On the contrary, they have gone on
declining from thai Gay To this.-