St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-06-15
FINANCIAL.
New York.

NEW YORK. June 13-The stock market to
day displayed more activity and more
strength during the two hours of business
than at any previous time during the week,
and prices at the close were generally at the
highest points since the close OF last week.
The sentiment that the drain on the gold re-
sources of the country had entirely ended,
at least for the present, has created a more
confident feeling III speculative circles, and
the effort TO cover shorts this morning with
little new buying made the liveliest and
strongest market for some time. The eXpec-
tation that the bank statement would show a
material increase in the surplus reserve
was not disappointed, and a gain of over
S3,000,000 puts that item at over $40, 600, 900
again. The dealings in the market, however,
presented 10 marked change from those of
the previous days of this week, and were still
confined principally to the grangers. indus
trials and few other stocks which have an
international market, although the foreign
operations were Insignificant. The demand
from the shorts was sufficient 10 make
rather sharp upward movemeutin the first
hour, Union Pacific leading the advance, but
Rock Island, Pacific Mail and some Others
The general list also developed some
special features, and Jersey Central.
Evansville and Terre Haute, and one or two
others, made sharp gains on small transac-
tons. The issue of the bank statement con-
firmed the expectations, and while there was
no further material upward movement the
best prices were well held and the close was
made at the highest figures though quiet.
The final changes show gains all along the
line OF large fractions. and Jersey Central
and Union Pacific are up fls per cent, and
Pacific Mail per cent Railroad bonds were
comparatively active, and retained the firm
tone developed yesterday, with revival of
interest in the Atchison incomes though
there were, as usual, no material changes in
quotations established among the active
issues The trading, for the two hours
reached S340,000, which was we'll and widely
distributed, Government bonds have been
dull and steady. State bonds neglected
The Post says: The stock speculation ruled
extremely dull throughout the week, al
though at the close the activity was greater
than OH any other day. Prices were lower
in the first half of the week, principally on
the fear of further gold exports, and the en-
gagement of S500,O00 on Tuesday gave the
market setback. but consideration brought
a realization of the improbable character of
such shipments, and when no further
amount WAS taken, confidence began to
grow and operators eVlnced more interest in
the market. This was increased by the fay-
orable advices from abroad and the easier
condition of money. and when London,
Chicago and Boston sent in buy
ing orders the market became strong,
and although ,still dull, prices ad-
week, and number OF the active stocks to-
Gay sold at their highest prices for the week
ASIDE from rumorS resi- Getting q few of the
specialties, the news of the week was of a
favorable character. The crop advices were
encouraging, and caused a sharp decline in
the grain markets, and this, with large pur.
chases for export and the consequent in
crease in the supply of commercial bills in
the market led to greater interest and better
feeling in the stock market which was re-
flected in a net advance of 12@l212 per cent
from last Saturday, the principal improve
ment having been Cd the grangers.
Petroleum continues dull and narrow and
to-day there was no movement from the
opening until the close, Pennsylvania OIL
July option, closing at 69c. Total sales,
: 0Gl bblS