St. Paul daily globe., 1891-04-17
FINANCIAL.
New York.

NEW YORK. April 16.-The stock market to-
day was more narrow than those of the last
week or two, but displayed great strength in
spots. while IN others it was unaccountably
weak. While the general list followed down
at distance and remained within narrow
imi is and showed insignificant fluctuations
The market has become narrowed down to
the Changers, Southwesterns, Industrials and
Wizards and the selling i'll the last named
was supplemented to-day by severe pressure
for time upon Lackawanna, the other coal
ers sympathizing only slightly in the final
decline. Beyond the early losses, the Wit
stocks, except few of leaders in which the
buying was specially prominent. The gen
eral list, however, was comparatively
neglected throughout the entire day and de-
strong opening was followed by reaction on
the advance of the Bank of England's rate
which, however, brought prices only slight
fractions below those of the opening, and be-
fore the end of the first hour they were again
on the upward move, though until late in
the afternoon the progress was slow. The
drive at Lackawanna occurred after l.
O'Clock. and 1ss per cent was knocked off
of its value while the rest OF the list was ad,
vancing. St Paul Atchison and Sugar scored
the material gains and were Joined
later by Rock Island and Burlington
while Northern Pacific which has been the
weak spot in the market for long time
rallied sharply and rose 1l2 per cent from
its lowest figure. The market gave no indi
cation of weakening at any time during the
rest of the day and finally closed quiet. but
firm to strong at or near the best prices
The great majority of the active stocks are
fractienally higher tonight while st. Paul
is up IA /; Northwestern lis and Rock Island
per cent but some are lower and Lacka-
wanna lost per cent. Railroad bonds were
less active and displayed the usual lack of
feature, tluctuating within narrow limits
and sharing only slightly i'll the temper OF
the share list. The total sales were only SS94,
coo. There was no marked tendency in prices.
The Post says: IF the general sentiment had
not been strongly in favor of higher prices
for stocks the developments of the last week
would have caused an important decline. AS
il is, the decline on the dozen most active
stocks in the last week has been practically
nothing, except about . per cent on Northern
Pacific preferred, and even this decline was
nearly all recovered to-day. The develop
ments above referred to were the higher
rates for money, the exports OF gold, the eX
pectatiOn of an unfavOrable bank statement
next Saturday, the mysterious selling of
the Northern Pacific stocks aud finally
the fiasco of the Western Traffic
association meeting in Chicago yesterday.
The effect of nearly all of the above circum-
stances, except the last mentioned, had
however. disappeared to-day. The attention
of spectators is still fixed upon what course
Mr.. Gould will pursue, and with the usual
amount of skepticism in regard TO his good
faith. But until it can be shown that he
would gain something by trying TO defeat the
real purpose of the Western Traffic associa-
ton in the organization Of which he was so
prominent there is no warrant for assuming
that he has taken that attitude towards it.