St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-07-22
FINANCIAL.
New York.

New YORK, July 21.-The stock market
to-day lacked the moving causes which yes
terday made things interesting. and conse-
quenuy was less animated, with smaller fiuc-
tuatlOnS and less significance TO the trading
The situation remains the same, and, while
larger operators diStrust the aspect of affairs
on the other side of the road. the market is
left to The trading element entirely, who
favor the bear side, because there is less re-
slStance from any organized opposition. and
in the limited business done prices are more
easily depressed. The ventures, however,
are confined strictly TO a correspondingly
small scale, and short sales are covered as
quickly as possible.
kiThe exchange market was firmer and as
no material amount of commercial bills has
appeared in the market. further exports are
predicted i'll some quarters Louisville Il
Nashville sold eX-dvidend and .tex-rights to-
day, and was one of the strongest stocks on
the list, but Burlington and st. Paul were
still the only active stocks, and all the lead
ing shares, including Lake Shore. Atchison
and Union Pacific, exhibited considerable
strength. Sales by London and the bears
caused q weak opening, but the pressure
was soon withdrawn, and q slow, but steady
recovery was started in the first hour, which
continued almost without interruption until
the last hour, when the usual reaction oc-
CURED on the realization of profits on the
limited advances of the day.
TIE dealings throughout the day were de-
void of feature or interest, but late in the dav
silver certificates developed marked strength
rising above 81. Tennessee Coal. after a rise
of per cent lost all the improvement. On
the other hand Sugar became very weak and
dropped over per cent, closing at the lowest
of the day. Railroad bonds were again very
dull to-day, the animation in the AtchiSOn
incomes have entirely disappeared, and the
trading more than usual of late was barren
OF feature. There was some weakness in
Reading firsts and Richmond Il West Point
hves. The other issues showed only unim-
pOrtant huctuations,- and the market re-
manned without decided tendency in either
direction throughout the day. The business
done reached only $685., 900. Government
bonds have been dull and heavy. State
bonds have been dull ana steady.
The Post says: Silver bullion certificates
rallied fractlOnally to-day from their weak
closing of yesterday, but there was little an
parent disposition to buy. The truth is that
people who were persuaded to go long of
silver bullion on the freely disseminated
arguments and statistics of a few weeks ago,
have some reason to ask whether they were
not used as catSpaWS. Al available signs
have indicated that instead of a brisk de-
mand on limited market what actually did
exist was an immense supply. increasing
every day and putting It's original proprietors
TO their wits end by the problem how to get
rid of 1t. The governments regular
4,5O0,O0O ounces were acquired in full
this month four days earlier than in
June and the offerings to the treasury
during the past fortnight have been abnor-
mally heavy. The offerings rejected, in
deed, have frequently reached twice the
amount accepted on the same day. 1t is well
enough to keep in mind the approaching de-
mand on London from India; but on the
other hand, the amount of silver already
taken by India is 100000 pounds less than
that taken i'll the same time last year. while
there is not the least sign of decreasing
production. Apparently, then, there must
be heavy accumulation somewhere.