St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-10-30
FINANCIAL.
New Work.

New YORK. Oct 20.-The stock market to-
day was somewhat of a surprise to operators,
being strong where increased weakness was
expected, and rather more active where a
continuance or increase in the dizziness was
counted upon. The strength of the market
was most apparent in Il few stocks, among
which the Vanderbilts were most conspicu-
Gus. followed by ST. Paul the Industrials
and specialties like Wheeling L Erie The
upward movement undoubtedly had its in
ception in London. where there was n
marked increase in the demand for American
stocks.
The market, while opening firm and slightly
higher than last evening, hestitated in the
early trading because of the pressure to be
brought to bear by the traders. though the
losses incurred were no more than sufficient
than to wipe out the opening gains The
contest was soon found to be unequal, and
prices gradually appreciated, though no ma
terial movement was seen until well into the
afternoon when the Vanderbilts became con
spicuous, following the Industrials, which
had been specially strong i'll the forenoon
st. Paul, however, still led in the dealings
and displayed steady strength which forced
its price up materially before the end of the
dav.
Among the specialtes the Lake Erie &
Western stocks were the only strong feature
and the general list, while strong in all parts
scored only fractional gains on very mod
crate business. The rise i'll St Paul was
aided by the big increase in the net earnings
for Septem Der. and the report that Russia had
prohibited all exports of all cereals heIped
along the good feeling in the grangers The
movement contrary to the usual procedure
of late, lasted throughout the entire session.
and the close was quiet but strong at or
about the highest prices of the day. The i'm
portant gains include: Sugar. 1873; Chicago
Gas and Lake Erie d Western preferred each
1Ss: Lake Shore, 1l2; St Paul. IA; Big Four
and Canada Southern 1la and Lake Erie &
Western common, Atchison and Union Pa
clfic each l per cent
The Post says: The advancement of the
London bank rate to 4 per cent Will doubt
less result i'll brief interruption to execu-
ton OF American orders for gold in that
market. The immediate effect indeed has
been an advance in bankers sterling bills
above the gold shipping point But the
Londoners know as well as we do that with
an unchecked export trade in grain the in
telruption can only be temporary 1t is
probable, moreover. that the bank direct
ors are fighting, if not against the specie
movement to New York which they can
not control, but against the demands of the
European continent. The banks loss of
gold on our account during the last month
has been much smaller than its loss through
shipments across the channel Exception
ally heavy orders have come in. for instance
for the shipment of gold to Russia, presuna-
bly, on Russia's new French credits This
movement it is possible to control, and the
bank /, naturally anxious to restrict it, be-
cause November is the month in which the
heaviest demand from the Scotch banks
must be met.
Total Sales of Stocks.
to-day were 2i5, s31 shares, including: