St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-08
SIfasTNGEE6 VI a HEA E Il
Decided Increase in Orders RE-
ported From Wall Street.

New YORK, Jan. 1.-THE stock market to-
day was strong throughout with a decided
increase in orders executed by commission
houses. Time money loaned at 5 per cent,
and on the whole The outlook for the con-
tinuance of the upward movement is very
favorable. The feature of the market to-day,
however, was the change in front, apparent
or real of the foreigners, and where they
have been sellers of stocks steadily for the
past four or five days there was to-day an eff
fort to get back those stocks without adj
yancing prices. The announcement that
the Louisville & Nashville had declared
dividend, and that il was 2l2 per cent in cash,
had most salufary effect upon that stock in
the early trading, making it the feature of
the dealings throughout the forenoon. There
were sales of it by German houses, however,
and the traders were bearishly inclined still,
and some vigorous efforts were made at times
to get certain stocks down. The bearish fra
ternity were also much concerned over the
possibility OF a meeting tomorrow, but the
general public, which is now in the market
to a limited extent, showed no apprehension
but that everything would proceed as
smoothly as may be desired. The pressure of
short stocks upon the market prevented
any material advance in the general
list and gave the market a feverish
tone which lasted throughout the entire ses-
sion. A strong undertone, however, asserted
ITSELF and little or no impression was made
upon the list. Louisville d Nashville had
squirt of activity and strength in the early
trading, and was followed later by Pacific
Mail. Sugar Refineries also displayed marked
strength, which was found to be due. to the
covering of a large short line in the stock.
Jersey Central also made a sharp upward
squirt in the later dealings, but lost portion
of the improvement in the final dealings.
The market. if anything. was narrower than
that of yesterday, the bulk of the trading be-
ing confined more than usually to the lead
ing shares. The best prices were reached be-
fore 2 p. M, and while some reaction
was seen from the highest points the
close was quiet and firm. The
final changes are generally fractional
gains, but the only ones of import
ance were advanced per cent each in Louis
vile, Union Pacific and Wheeling d Lake
Erie preferred, while Jersey central is up 8
per cent. Railroad bonds were not quite SO
10000, but the same strength was dis
played, and most of the final changes are in
the direction of higher prices, with few
losses here and there. The active issues
were again Atchison incomes and Northern
Pacific fves. Government ponds have been
dull and steady. State bonds have been en-
tirely neglected. Petroleum was again dull,
and the volume Of business very small. An
improved feeling was developed, however, in
sympathy with the stock market. The OPEN
ing was steady, and after long period of in
activity the market moved up slightly. clos
ing firm. Pennsylvania Oil. spot, opening,
73c; highest, 73s4c; lowest, 73c; closing,
73a4c; January option, opening, "a: highest.
745Sc: lowest, 74c; closing, 745sc: Lima
oil, opening. 19l2c; highest, Ole; lowest
19lsc; closing, 21c. Total sales, $1,000
bbls,