St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-17
WALL STREET REsIsTs
The POndePOus Esanalaerins o
tic Bears.

NEW YORK, JAN 16.-1he stock market to.
day was still less active, but on The whole
displayed a greater resistance 10 the nam
mering operations of the bears than yester-
dav. and, while most stocks are lower to-
night, the losses are in most cases for lnslg-
niiicant fractions while a few material ad-
vances were scored. The outlook for the
days operations seems to indicate that the
silver scare will not be OF long duration.
There was in the afternoon perceptlble
easing up in the foreign exchange markets,
and the fears that gold would nave TO
be exported in the near future were allayed
for the present, the foreign buying OF the
forenoon also helping TO bring about THIS
state of feeling. The heavy drives of values
were made with the special object CT uncoV,
ering some large orders which were beleVed
TO exist, but the selling met a demand III
those stocks which completely foiled the al
tempt. In the early trading, after generally
weak opening, New England and Chicago
Gas became strong features, and the strength
in these properties with the marked demand
for foreign houses helped to rally the llst
sharply before the close OF the first nour:
The foreigners, however, became dissatisfied
and the hammering operations were renewed
with v:gOr, and prices yielded all along
the line Missouri Pacific. the Wizards,
Sugar Refneries and Lackawanna showing
most weakness. There was another drive at
the list in the afternoon, which forced prices
off still farther, and at the lowest points de-
clneS from last night extending to per cent
were shown. The general list, however,
was only slightly changed, and. with the
easier condition of foreign exchange, and
the most pronounced ease in the money mar
ket. the shorts went in to cover i'll the last
hour with the result of nearly Wiping out the
losses The industrials were prominent III
the late rise, lead in particular. The market
clCsed active and strong at slightly under
first prices The final changes are generally
for small losses, but the only marked de-
clines were Wheeling & Lake Erie, 2: Sugar,
1I2. and Union Pacific. per cent. while lead
is up 11s, and New England 3 The dealings
in railroad bonds were still moderate
but the heavines SIS i'll stocks were commune
Gated to this branch of the market to-day.
and most of the changes of note are in the
direction of lower figures. The transactions
reached for the day 81, 906, 600, out of which
Atchison incomes furnished 1884 900: North
ern Pacific IS, $4,000, and Texas Pacific in
comes, $4,000. There were few marked
changes, but Montana Central firsts lost Eat
liz Government bonds have been dull and
steady. State bonds have been dull and
without feature. Petroleum opened weak
under the pressure of q number Of selling
orders from the West In the afternoon
slight rally occurred. but later the market
sagged off and closed steady. Pennsylvania
oil spot, opening, 7413c; highest 7442c; low
est. 7442c; closing, 74l2c: February option,
opening, 729Sc; highest, 72Ssc; lowest, 72s4c;
closing, 731sc. Lima oil, sales none. Total
sales, $1,000 bbls.