St. Paul daily globe., 1891-06-18
FINANCIAL.
N ew York.

New YORK. June 1.-THE stock market
to-day lacked the stimulus of heavy rise in
Chicago Gas, and that stock was much less
active than during the last two days, the
market therefore. in the absence of any in
crease in activity in railroad stocks, being
most intensely dull throughout the entire
session. The dealings were still almost en-
tirely of professional character, and the
usual small ana uninteresting fluctuations
marked the trading in all parts of the list.
The general situation continues TO improve.
The elimination of the advance in Chi
cago Gas was followed by a partial
reaction in that stock, and a sharp
decline in Sugar, but the influence of various
rumors upon the general list was hardly per
cepuble, though prices yielded somewhat.
The professional nature of the dealings was
very apparent in the dullness and the small
ness OF the fluctuations. The opening was
hrm, and small advance in Chicago Gas
was followed by slight Improvement in the
general list, but the reaction noted was fol-
lowed also by the rest of the market and q
heavy tone was impaired to the dealings,
which lasted during most of the day after
that time. In fact, the late trading developed
decidedly weak tone, ana the Western
stocks IN particular suffered severely. The
volume of business was also largely in
creased by the sale of long stocks.
The general list was totally devoid of
feature throughout the day, and all interest
IN the dealings was centered in q few of the
leading stocks. The market closed dull, but
weak. at the lowest prices of the day, which,
uOWcNeT, III UlUSJ StOChS were Only SllSnG
fractions below those of last evening, while
Sugar is down PA and Rock Island, ST. Paul,
Missouri Pacific, each 1 per cent Railroad
bonds were not so active nor so interesting
to-day, and smaller number of issues were
traded in The sales of all issues reached
only S3l5,O ,O00, which failed to develop sin
gle feature. The tone was fairly steady till
the last hour, but the weakness then shown
caused no material change i'll quotations.
The Atchison, Kansas & Texas and
some other issues were weak, but
others presented firm front throughout
No signs of a revival of interest in this de-
partment were shown: ana the business done
was entirely of retail character. Govern
ment bonds have been dull and steady. State
bonds have been dull and without feature
Petroleum was extremely dull, the move
ment being narrow and the trading insig-
nihcant in volume. July option opening
6Sl2c; highest, 6Sl2c; lowest 6SAc; closing,
6SAc. Lima oil, closing, 1334c Total sales
1000 barrels. The Post says: 1.-The success
of the operations in Chicago Gas has natur-
ally stimulated the operators i'll other easily
manipulated specialties. This morning the
export operators in Sugar Trust tried their
hand and met with mplete success in their
effort to break the price. Less than 1000
shares were sold, nearly all in the second
hour, and, though this was a light bust
ness for Sugar Trusts the result was a
break i'll pric9 of 3H points up. The move
ment i'll itself was of little consequence, be-
ing based on no authentic news, but in the
existing condition of the market it was
enough to demoralize the general list. Trad
ing was not large, but the professional ele-
ment turned bearish at once, and broke prices
from " to l point i'll nearly all leading
sDecialties. Louisville d Nashville showed
unexpected resistance to the decline, which
indicated that the London bankers have put
out as much short stock in that direction as
they deem prudent Londons recent oper-
ations in this stock have been somewhat un-
usual; for the stock sold yesterday and Mon
day ame from houses which do not often
resort to short sales. Presumably, they ex-
pect to cover their short contracts by the new
Louisville stock to be issued next month,
which they will take, either by syndicate
contract or by open shareholders subscrip-
ton.