St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-12-18
DIRECTORS
FINANCIAL.
New York.

NEW YORK. Dec. 1.-THE stock market to-
day was again stubbornly strong, with mod
crate volume of business, and the activity
and interests still confined principally to
less than dozen of the more promine mt
stocks. Outside centers contributed the ir
quota toward making the strength of the
market and while Chicago took the grangers
in liberal quantities, PHILADELPHIA was inter-
eSted i'll Northern Pacific preferred and the
coalers, and Boston purchased Burlington
and others of its favorites
Commission houses were the principal
buyers throughout and while there was a
great deal of realizing. especially in the fore
noon, and in Chicago Gas in particular. the
strength of the market was hardly impaired
by the movement, aud where the buying was
resumed later in the day, with the aid of the
covering of the shorts, the advance made
more substantial progress. The general
market opened with tame appearance but
& firm tone. and displayed an advancing ten
dency from the first sales The later mate-
rial Improvement in the price of Chicago
Gas, however, showed too much profit
already accrued on recent purchases for
many of the smaller operators, and Il general
liquidation among that class of SPECTATORS
depressed its price about per cent, which
had considerable influence upon the rest of
the list though no weakness was seen i'll
anything else.
The selling before noon was free and easy
in Chicago Gas, which recovered somewhat
accompanied by material upward movements
in some Of the leading railroad shares. Rock
Island was prominent in the advance during
the early dealings, but the coal stocks became
the feature later IN the day, when rumors of
the coming declaration of per cent in the
Reading seconds were instrumental in again
bringing il TO the front, and marked strength
was shown in all its securities. The other
coal stocks we're not far behind, and Lacka-
wanna and Delaware & Hudson both rose
materially.
Louisville & Nashville and Erie were spe-
cially strong, and the latter unusually active
in the late trading. There was also a few
sharp moves among the inactive shares Chi
csgo Stock Yards, Great Northern preferred
Milwaukee Lake Shore d Western preferred
and some Others being prominet The mar
ket finally closed active and strong at the
top figures. The marked gains in the active
list comprise Lackawanna, I2c; Reading and
Del d Hudson each lac. and Louisville &
Nashville and Northern Pacific preferred
each per cent
The Post Says: The only possible co1clu-
sion is that the stock market has passed al
most wholly out of the purely professional
hands. The persistency of the upward moVe-
ment has surprIsd everybody and even now
it will naturally be asked by conservative OBJ
servers, whether reaction of considerable
ebruptness may not generally be looked for
Such q movement in prices will not come
from its most familiar cause, change
of attitude by professional bulls be-
cause the professionals. - except
through short covering. have been
an insignificant factor in this months ad-
vance. But if the outside buying of the last
fortnight was to get ready for a'temporary
be expected that within the next few DAYS
their stock will come upon the market in
realizing sales. There have during the last
two days been indications in some quarters
Of such realizing, but not of great magni-
tude; hence, the question is still in doubt.