St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-20
FINANCIAL.
New Work.

New YORK. April 1s.-The stock market
to-day showed the same characteristics as
those of the former days OF the week the
dealings being confined to the few stocks
in which Chicago and Boston are most inter
ested, and the bullish feeling is now SO pro
nounced that ali bad news seems to have
only temporary influence, and to-day the
further gold shipments and The decreasing
bank reserves were powerless 10 check the
rising tendency in the market. Some of
the specialtieS referred to scored material i'm
provement at the close. The gold shipment
met the market at the very opening and
prices for the first sales were generally
slightly lower i'll consequence, while
some further losses were sustained in the
early dealings, but the only marked decline
was III Tennessee Coal, which was affected by
the protest OF the stockholders against the
disposal of the assets of the company at
price unsatisfactory to them On the other
hand. Chicago Gas was buoyant and Illinois
Central as we'll, and they were later joined by
the general lists. in which the Northern Pa
cities were conspicuous, ana the preferred
especially so in the late trading. Among the
specialties, cordage was again lifted
materially, but. the granger stocks and
other late favorites moved with
failed to arrest the upward course OF prices,
the market finally closing active and strong
at the highest prices reached though as
rule the list was only slightly changed from
and Cordage and Northern Pacific preferred
each a. Railroad bonds were dull; sales,
SI6S01O. Government bonds have been dull
and steady. State bonds have been neg
lected. The Post says: The fact that In
the last two weeks there have been exports
of $500 600 Of gold, and yet that the total
decrease of the surplus reserve in that time
has been only S2,Olo 125. shows that
money is coming from other chan
nels to supply the drain of gold,
and that there need he no fear of anv strin-
Rency IN the money market, but that on the
contrary, the increase of exports OF wheat
will probably soon have an effect on the ex-
change market, stop the exports of gold, and
make money abundant. The prevailing bull
ish sentiment in this market. which is based
mainly on the expectation of good crops.
large exports OF Egrain ana consequent gem
eral prosperity in business, has had much to
contend with this week in the exports of
gold. and consequent possibility of higher
rates for money: also the unsatisfactory re-
suit OF the Western Traffic association in Chi
cago, and the still more unsatisfactory
possibility that the Northwestern may
build line to ogden paralleling the
Union Pacific. Nevertheless, the stocks
which have furnished two-thirds of the
week S business are all from to lac higher
than week ago. Had there been any res
ponse in London and on the continent 10 the
bullish movement in this market during the
last week, there would have been all impor-
tant rise in the general list. But in London
as well as Berlin. speculation seems to be
paralyzed. The Bank of England has paid
immense sums to meet the acceptances of the
Earrings. and as security for these advances
is heldlng an immense amount of Argentine
securities the prospects for which are not
even week ago. The Gillian market will
also be a cause for further embarrassment to
England; altogether the financial outlook Oh
the continent is not reassuring