St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-12-30
DIRECTORS
FINANCIAL.
New York.

New YORK. Dec 29-Tbe stock market
today for the first time in many days showed
a real reactionary temper, and while there
were evidences of support and the demand
from commission houses continued heavy
the realiZatons of profits by those who de
sire to close up everything with the ear
/ added to the efforts of the bears to take ad-
vantage of this realizing, forced small con-
ceSsIons i'll almost everything traded in
while few of the leading shares made ma
terial declines from last nights prices
The movement began i'll London, which
came lower this morning, and the market
from the start was inclined to follow and
the strength shown by the Gould properties
and Missouri Pacific. in particular. checked
the declining tendency during the whole Of
the forenoon. Later, however, the coalers
were selected to bear the severest pressure
and when marked losses had been sustained
in these shares the Gould shares followed
and lost all of their early improvement with
something III addition
The strength displayed in special stocks.
however, was still one of the features of the
moment and, in the face of the general
weakness, Omaha common was forced up
over per cent in the afternoon, and while
not closing at the best figure. scored marked
gain for the day. As usual of late, the in
dustrals were quiet and without feature
and the grangers followed the rest of the list
throughout the day: then Burlington was
specially weak and lost material amount
The Opening was tame and lower. in SYM
patty with the London quotations. and the
early trading showed fur her concessions all
along the line, but the strength in Mis-
souri, Pacific rallied the market and
prices were brought above those of after
noon, the movement being helped by special
strength in Distillers and Consolidated Gas
the last named rising over = per cent.
The attack on the coalers, however,
dropped Jersey Central from 1l3Is to 1I0s4,
and the others followed, both the GouIds
and other leading shares giving way with
rudenesS The pressure was resumed in the
final dealings and the market closed active
and heavy ut close to the lowest prices of the
day. The fiual losses are in most cases large
fractions. but Lackawanna lost 17s, Northern
Pacific preferred, Ia; Burlington. 1ss. and
Lake Shore per cent, while Omaha is up aI2
per cent
The Post says: A professional market or
one in which professional operators are an
important factor, is naturally subject 10 re.
action. Such buyers accumulate stocks 10
sell again at an early date, and their selling
Is not necessary to be guided by outside de
veiopmenis. This shows why downward
not come even when favored by theday's news
in the earlier stages of the upward move
ment The controlling forces a week or more
ago were The shorts who bought back what
they had already sold, and the larger
non professional capitalists who pro-
posed 10 keep what they bought.
Hence there was comparatiyely
menI as a whole is enlisted on the bull side.
the usual traditions of a professional pull
market prevail. Todays declines made up
what Wall street calls healthy reaction"
that is TO say, there were no signs of weari-
ness 10 accompany it and no dissemination
of bear points such as would foreshadow a
prospective attack on the market.