St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-12-11
Merchants National Bank !
ST. PAUL, MINI.
Capital, $1,000, 900
Surplus & UndiVidedProftS, 500, 900
". R. MERRIAM. President.
CHI. B1GELOW, Vice Presiden.
] "A. SEYMOUR, Cashier.
ekO. G. POWER, Asst. Cashier
DIRECTORS,
EN- QauDd,
FINANCIAL.
New York.

New YORK. Dec. 10.-The stock market TO-
day was still more active and remained
strong, and especially during the forenoon
and while there was considerable falling off
later in the dav, the final prices are generally
higher than those of last evening and a few
stocks show marked gains. The manner in
which the market continues to broaden, and
the strength displayed is q surprise to both
bulls and bears, as so much activity was not
looked for until after the end of the year
The decrease in the rate of discount of the
Bank of England, while confidently expected
i'll some quarters, had its legitimate effect on
prices on the other side, and the London
market was buoyant this morning
Here the widening of the market was
marked by increased business on the part of
commission houses. while some of the larger
traders came again into the market. their
purchases giving great strength to the early
dealings in the leading shares. The out-of-
town speculative element however, was not
present in force, and Chicago and Boston
houses did little eXceDt in their immediate
favorites. The stocks became again promi-
nent in the trading, especially Western Sc
curlties. Burlington leading III point of &C
tivity throughout the day. while It's strength
was even more remarkable; Missouri Pacific
st. Paul, Northern Pacific preferred and Rock
Island followed The industrialS were not q
factor in the days trading though Chicago
was moderately active
The opening was steady only. but the ex-
cellent demand soOr DEVELOPED strong tone
anu everything OH the llSL moved upward at
mopderate gait. though Burlington and
some other specialtieS rose over per cent
followed towards noon by a sharp rise in
Missouri acifc. At other times Rock
Island. Chicago Gas. st. Paul, Wheeling IL
Lake Erie preferred Milwaukee. Lake Shore
d Western preferred and Canada Southern
were specially strong, but in neither of these
did the improvement reach more than frac-
ton. The early demand Stacked off appre
ciably toward noon, and after that time
Yarin lad 81 lN. rxsft he
ment of any feature of note
In st. Paul and Erie. in each CT which the
activity was great. their extreme fluctuations
FOR the day were only ladss per cent respec-
lively. The market finally closed quiet and
rather heavy, but with prices in most Of the
list al close to first prices. The final changes
are generally small gains. but Burlington is
up 1ss and Missouri 1Ia The Post saws:
There have been indications for some days
that the outstanding short interest in the
market was larger than has been generally
supposed. A strong conviction that certain
bear Interests were IL q somewhat precarious
situation encouraged the bull leaders this
morning to vigorous attack. Bur
have been selling imprudently in the
face Of heavy daily shipments of the stock to
Boston, at once proved the truth of these sur
misses and something like an old fashioned
issue Of shorts was effected in the first hour
From this the operators for higher prices
promptly turned 10 the coal stocks where
the entire absence of recent covering opera
tons suggested a similar state of affairs. The
result OF skillful bidding up of prices was
equally satisfactory. A scare in the still
more numerous short contingent in the de-
moraliZing factors of two or three DAYS ago
Missouri Pacific and Northern Pacific pre-
ferred-was q natural consequence, and
here, too prices advanced more rapidly than
they declined under the bear manipulation
of Monday. The rest of the list mpathized
but with less activity. realizing sales being
naturally an important factor.