St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-11
STOCKS ARE STRONG.
Railway Harmony StiRens tin
Wall Street Market.

New YORK, Jan. 10.-The complete har-
mony existing in the conference of railroad
managers now in session in this city has
proved to be the greatest stimulating inf1u-
ence upon the stock market which we have
had for some months. To-day it turned the
temper of the foreign operators from bear to
bun, while the confidence displayed by do
nestle operators of all descriptions has been
most prominent for several days. The
offerings of stocks are becoming light
general revival of confidence in the
future of the railroads in this country
and there is now in the street q general feel
ing that during the next sixty days there
viii be complete recovery from the recent
depression. To-day another large increase
in the bank reserves was shown, and the sur
plus is now raised to above $4,000, 600, q
figure which it has seen only once for the
past six months and that was when the
heavy disbursements were mada by the
treasury last fall. The improvement in the
temper of the street was apparent with the
first sales, and everything was higher. while
an extraordinarily active business was trans
acted, with the result of scoring further ad-
vances over the whole list. The only slug
giSh stocks were the coalers, which have all
had such marked advances in the past week.
The sksrocket advances in Sugar Refineres
was continued, aided by the announcement
that the order appointing the receivers had
been vacated and the property was to be
forward with the plan of reorganization.
The stock rose from 66l2 to 7ll2 and closed
at 767S. The Wizards were a strong point in
the market; the grangers were all prominent,
but the Gould stocks were sluggish. The ex
IRENE activity of the first few minutes did
not last, but the strength was never Stacked
off and prices steadily mounted till the close,
though there were few specially wide
fluctuations out of Sugar. The gains
OF note wore: Sugar, 4ss; St. Paul
and Northern Pacific, 19s each Louis
vile & Nashville, 1ss; Colorado Coal
IL; Burlington & Quincy, lib, and Atchison
per cent. Railroad bonds also continued
and the business of the two days amounted
to $1,423O0O, with the same speculative
issues leading in the dealings, and AtchiSon
incomes contributed Sl5o, 900, the Texas Pa
cifc incomes $685. 900 and the Iron Noun
tain fives Sl05,t % to the grand total. The
strength of the market continued unim
paired, and among the numerous advances
may be mentioned: Toledo, st. Louis & Kan
sas City firsts. 2l2 to 80; Louisville, ST. Louis
& Texas frsts 2 to 81 st. Paul Mineral
Point, 2i2 to 09s4. Government bonds
have been duh and steady State
bonds have been neglected. Petroleum was
duller than ever The opening was steady,
the price moved up SEC, closing firm for Feb
ruary option: Pennsylvania oil spot opened
at 73l3c; highest. 1850; lowest, 73l2c; clos
ing at 7312c. February option opened at
73sAc; highest, 74lSe; lowest, 73s4c; closing
at 1850. Lima oil opened at 2lc: highest
21c; lowest 2Ic; closing at 21c. Total sales
1900 bbls. The export of specie from the
port Of New York last week amounted to
1921, 1928, of which S134,97 was in gold and
S1S9.S49 in silver. The imports Of specie
for the week amounted to $473, PAS, of which
$343, 213 was in gold and $12O,035 in silver.