St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-11-14
Merchants haIlOnal bank !
ST. PAUL, MINI.
Capital, 81, 600, 600
SurpiuS& UndiYidedProftS, 900, 900
u. r. MERRIAM. Presidens.
L. ii. BIGELOW, Vice presidel.
] a. SEYMOUR, Cashier.
SkO. &. POW Err. Asst. Cdshls1
DIRECTORS
FINANCIAL.
New York.

New YORK Nov. 13-The stock market
to-day was quiet aud even dull during the
early part of the session, but became more
active in the later trading, stifening up uu-
Ger an increased demand tor both sides of
the account. There was throughout the
day a good demand for stocks. while the of
ferings were very light, and notwithstand
ing the dizziness a firm 10 strong tone pre-
vailed and before the close of business prices
among the few active shares had been forced
up materially from the low figures of the
forenoon. The news of the day was all favor
able. There was not in any part Of the day anv
important pressure 10 sell. although consitl-
cradle selling by foreigners gave the trading
a weak appearance, and the suspicion was
uttered that the bears were up to the old
trick of employing arbitrage brokers TO sell
stocks i'll order 20 buy in under cover.
The rumors of trouble in the anthracite
coal trade were still circulated but short
interest of some magnitude was developed i'll
the coal shares ana further selling was
frightened off, resulting in the development
OF considerable demand for those shares at
advancing prices, and aS their losses have
been very material in the last few days their
gains today were proportionate. Following
them in strength came the industrials. espe
ciaily sugar. cotton oil and distilers.
In the general railroad list however,
considerable strength was sen in the Van
derbits Wheeling d Lake Lie and Union
Pacific. the actual earnings OF the last named
for September having exceeded the estimate.
8 As rule, however, the great majority of
the list were dull and held within narrow
limits. though sharing in the advance which
extended TO a portions of the list. North
ern Pacific preferred also displayed marked
strength after its early weakness. The mar
ket opened lower, but rallied Immediately,
and prices rose slowly, but steadily. through
out the session, no et-bacK OF any kind &C.
curing. and the upward movement became
more pronounced in the last hour when the
smaller shorts came in to cover in earnest
The close was active and strong at the top
figures. The gains Of note include: jersey
Central, .: sugar. l5s: Reading and Cotton
Dil each 81 Lackawanna, l5s: Rock Island
and Distillers, each 1888; Wheeling d Lake
Erie preferred, lis; Western Union and Can
ada Southern, per cent each.
The Post says: The lack Of broad specu-
Iative interest in any investment market is
reflected in the market for money. Jud ying
by present appearances we are now on the
eve of almost great Stagnatlon III this mar
ket as in tho-e on which its own movements
are based There Is perceptible almost daily
ii slI yht shading off in rates, and though
tenders of money are still discriminating as
to the character of collateral, this must be
attributed rather 10 doubt over the prospects
of low-D priced securities than to a lack of
funds to lean. That this is true may be seen
most clearly in the market for commercial
paper. in which the winter mercantile trade
having been already supplied. and the spring
orders not yet taken in hand, the
banks are beginning to search for
good paper, and are finding the supply coz
siderably below their wants. The curious
feature of the case is that many careful OBJ
servers are predicting the same state of af-
fairs in London, despite the recent large
Withdrawals of gold. But the explanation is
the same there as here. and an easing off in
rates must be re garded rather as an effect of
existing business stsgnation than as cause
for immediate revival.
Total Sales of Sfoc&y
to-day were 254, Cos shares including:
Atchison Is, 0S3I Missouri Pacific. 1850
Chicago Gas 10. 50 North. Pac. pfd. IL, 90
Il. II " OlIi