St. Paul daily globe., 1891-06-29
FINANCIAL.
NeW York;

NEW YORK. June 27-The stock market
to-day was quiet but remained weak, MANY
stocks closing materially lower than last
evening. while the entire list is now ma
terially lower than week ago. There was
nothing in the news Of the day to ehcoura ge
either new buying or the covering of shorts
ana, While there was no particular pressure
TO sell long stocks, the bears were again act
I've and aggressive, and vigorous drives at GER
tain speclaltes gave the entire market a weak
tone and broke some shares very badly The
lndustriais Were again the most vulnerable
point IN the market and more stop orders
were uncovered in Cordage which was eyi-
dently left without any support whatever by
the insiders and dropped from 96c to S9Lbc
sugar followed, but met with some support
and rallied Slightly. and Chicago Gas which
was inclined to show some strength in the
early trading, gave way toward the close.
several other weak spots were uncovered in
tne general list, however. and Northern Pa
cine preferred, ST. Paul. Louisville Pacific
Mail aud some others scored material losses
Tor the day on COM paratively small trans
actions The bank statement was awaited
with some anxiety and was late in publica-
tlon. but While II showed heavy increase in
deposits and loans the exports of gold more
than wiped out the Increase in reserve and
this was interpreted as a point in their favor
Dy the bears. and the selling for the short ac-
count was resumed within the last few min
utes of bringing down many stocks which had
renamed comparatively firm up to that tima
Among these the Wheeling & Lake Eries. C.
C. c. d St Louis and Northern Pacific pre-
ferred were especially prominent The mar
ket finally closed fairly active and weak at
the lowest prices for the day and week. The
final changes are all declines. and while the
great majority are for fractional amounts
Cordase lost 5l2; Sugar, 13.; Northern Pa
clflc preferred, ia; Tennessee Coal and Chi
cago Gas each, 1Ss; ST. Paul and Pacific Mail
each, IA; Wheeling and Lake Erie pre-
1erred, rs; and Louisville g. Nashville, per
cent. Railroad bonds were quiet but fol-
lowed the share list closely in temper and re.
NAMED heavy to weak. The limited trading
prevented any material change in the active
bonds, but Baltimore & Ohio IS of 1887 lost 9
at SlO2. The trading reached S355, ,00G. Gov
ernment bonds have been dull and steady.
StaIe bonds have been neglected.
The Post says: Everybody had selling
orders at the opening to-day, and was in a
hurry to execute them. The natural conse-
quence was an immediate continuation of
yesterdays selling movement, and already
marked In Louisville d Nashville st. Paul.
Northwestern and National Cordage The
last mentioned stock. i'll fact went all to
pieces. The price was cut under every sue
cessiye offer, and had collapsed upwards of
five points before the first half hour was
ended. Whenever blind pool industrial
goes to pieces on the market. its friends an
nCunce the approaching declaration of
dividend National Cordage was no excep-
ton. and handsome quarterly division of
profits is promised for next week
The bank statement was unQuestionably
favorable statement, but it had no effect on
the market Its publication was followed by
a sagging off in prices throughout the list.
now hold SIS, All. 600 in excess of the require
mentS of the % per cent flle