St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-16
SANCEAE..
New YOvFx.

NEW YORK. April 15-The aspect of mon
etary affairs, beth at home and abroad, and
continued uncertainty to the fate of the
Western Traffic association, owing 10 the in
ability TO get quorum of the advisory board
together, hurt the stock market to-day,
though there was no material decrease i'll the
amount of business done, nor decline in
prices a strong tone prevailed throughout
most OF the day, however, and the trading
element was confirmed in its tendency to
work uDon the short side for at least
short time further. There was evidently
little doing by the more influential operators
and outside of the Wizards. the three leading
grangers and the industrials there was no
animation. The news of the day was re-
pressing rather than Weakening and no
feature was shown III any of the specialties
except III Tennessee Coal, which dropped
away > per cent, but recovered most of the
loss later i'll the day. The final adjournment
OF the advisory board, subject TO the call Of
the chair. however, was met by heavy buy
ing movement in the grangers which seemed
10 come from Western sources, and all
through the afternoon prices slowly ad-
vanced. while toward = p. IN. the movement
was accelerated. and the most positive
strength was shown. all the gran
gers and the industrials moving
up rapidly on large transactions.
Th e general list followed slowly however
and many stocks at the close were still below
their last night S figures. but in many of the
leaders material gains were scored even in
the face of the unfav0rable news from the
West and the further engagements of gold
for shipment. Even the Wizards, which
had been the weak point in the market. raj
he'd with the rest, and their losses were re-
duced to small fractions only. The market
finally closed fairly active and firm at or near
the best figures The final changes of note
include Chicago Gas, 15s,and Sugar 49, while
Cordage, which sold exdividend of t per
cent, recovered rs per cent. Railroad bonds
were quiet and i'll close sym pathy with the
sluggish temper of the general market for
stocks, and the Sl,lS40C0 of business
done resulted in only Slight changes.
though the firmness of the late dealings
made advances the more numerous at the
close. The market closed quiet and firm at
the best prices. as a rule. Government bonds
have been dull and steady. State bonds have
been entirely neglected The Post says: "The
weakness of Northern Pacific preferred,
while all the grangers and other active stocks
are higher than week ago. certainly points
TO considerable liquidation in that stock, and
some of this sold by foreign houses here was
presumably made for German account; but
we have reason to believe that at least the
Initiative in this selling of Northern Pacific
preferred came from Philadelphia and was
caused by the necessity for money for other
purposes. There have beeu various stories
started about doubts being expressed about
the July dividend on Northern Pacific pre-.
ferred. but these are merely suggested by
people who want to give reason for the
selling and want to see the price decline. so
far as the future dividend Oh any railroad
stock may be considered certain. that on the
Northern Pacific preferred for July is as GER
tain as any.