St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-03-03
STOCK INDICATIONS.
Outside Of the leaders. No III,
prOVeimemt Is Visible.

NEW YORK, March 2.-ln the stock market
to-day the pas sage of the postal subsidy bill
gave Pacific Mail Il lift ana developed marked
activity IN the stock for Il time while there
was considerable pressure upon Burlington
its price proved stubbornly firm, and the loss
was comparatively light. On the street the
bulls are sail making, or trying to make, capt.
tai out Of the near approach of the adjourn
ment of congress, while the bears affect to
make light of the expectation that the adj
tournament can have any effect upon the
course of prices. The bears point TO the
diminishing reserve of the banks, and claim
that the March disbursements, which are
principally for pensions. will be a long time
in finding their way into the banks. ami pre-
Dict hardening money market. at least until
after the April settlements are ont of the way
The bulls, however. have faith that the pres
ent surplus is sufficient to meet all prob
able demands for the next month
while the speculation being narrow there
was no likelihood of a squeeze in money
rates, especially as the large houses are well
protected by time loans. The market opened
slightly lower. and Notwithstanding the
weakness in Burlington. failed to go lower
Toward noon developed strength with Pa
cific Mail. and the whole list advanced Slight
fractions, In the afternoon there was some
strength and activity in the new Sugar
stocks, and II scored a rise of nearly per
cent, which was we'll held throughout the
day. The high prices to which Pacific Mail
was pushed, however, induced realizing on
lhe advance, ana this encouraged more Wig
orous efforts Oh the part of the bears who
attacked Louisville q Nashville with some
success, and the advance in Pacific Mail was
completely wiped out before the close of the
market This carried the general list down.
The stocks outside of the leaders. however
failed 20 make any marked improvement,
though there was considerable pressure
brought upon St. Paul and the other grangers.
Burlington continued active but did not yield
much i'll the afternoon. The market finally
closed quiet and heavy after Il Slight rally
from the lowest figure. The nnal changes
show majority of losses. The Burlington
and Louisville are each down 1l3 per cent.
but the sugar is up IS per cent, Pacific Mail
per cent. Railroad bonds did not share IN
the activity in stocks. the total transactions
being only S7S2,000 The Atchison incomes
were the feature of the dealings The bonds
mentioned were weak, but the other changes
were insignificant. the general list present
ing STEADY tone throughout the dav. Gov
eminent bonds have been dull and steady
State bonds have been dull and steady.
Petroleum continues marrow and the volume
Of business is very small. The opening was
steady and prices advanced on a few buying
orders from the West. then reacted slightly
and closed quiet. Pennsylvania oil. spot.
opening, 7556c; highest. 1534c; lowest, 1j5sc:
closing, 5jS4c. April options. opening, S6Isc:
highest. nc: lowest, 767sc; closing 76s4c.
Lima oil, no sales. Total sales. 1900 bbIs