St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-12-08
Merchants National Bank !
ST. PAUL, MINI.
Capital, ST, 600, 600
SurpluS& UndiVidedProftS, 500, 600
w.R. MERRIAM. President.
I. H. BIGELOW, Vice Presiden.
J "A. SEYMOUR, Cashier.
&kO. Z. POWER, Asst. CashieS
DIRECTORS
FINANCIAL.
New York.

New YORK. Dec. THE stock market
was little more animated today than usual
for the last two weeks. and while displaying
on the whole firm tone in the general list
the pressure brought 10 bear by the profess
SIGNALS upon few stocks gave rather weak
character to the market. The movements in
most of the list, however. were like those for
the past month, small and Insignificant, and
while there was good buying of many of the
prominent shares, notably the Vanderbilts
the industrials and Louisville, there was spe-
cial pressure made upon the Northern Pacific
stocks and later on Missouri Pacific.
AT the same time Union Pacific svmDa-
thized with the weakness in these shares;
Pacific Mail was sold down on the loss of one
of its new steamers. There was during the
day, undoubted eyif ence that buying power
is in the market and the purchases of COM
mission houses gave a strong temper to the
forenoOns dealings. which even vigorous
selling of the Wizards failed to impair to anv
great extent In addition to this the trading
in the coal stocks looked greatly like cover
ing, and the shares were firm ali through the
day on very light transactions. There was a
lack OF news of character to have much in
fuence upon the course of prices.
Northern Pacific preferred was under the
hammer throughout the entire day, and its
early loss was significant the common fol-
lowing closely, but it was not until the late
afternoon when Missouri Pacific was at
tackled with such vigOr that the general list
gave evidence of being affected in any way
by the pressure. The opening was generally
at small advances over SATURDAYS prices
and, Notwithstanding the weakness in the
Wizards the general list led by the Omaha
stocks. the preferred rising " per cent rose
fractionally;ss rule, and the firm to strong
tone developed lasted until well into the aft.
ernoon, though there was the usual dullness
in the late trading up to the time when the
earlyraid was resumed.
More activity than at any previous time of
the day was then developed, and prices tum-
bled slightly. The final dealings gave adj
ditional evidence that covering was the OBJ
Ject OF the attack, and slight rally closed
the market firm with most of the list at close
to opening figures The final changes for
the day were generally insignificant and
about equally DIVIDED between gains and
losses. but while Chicago Gas is up 1Ss and
Omaha preferred IA. Missouri Pacific is
down 2l6. Northern Pacific preferred la and
the common 1Ss.
The Post says: The condition of affairs
will be quite plain to anybody who studies
the daily Developments of the time money
market where the tenders instead of dictat-
ing rigid conditions, they did a month or
TWO ago. are now seaSching actively for good
borrowers. AS the time money rate goes
down, thereal IN f.stments of railway secur-
tiles is, of course, enhanced, and the capital
is being practically forced into the market.
Anybody Who will go to the trouble of com
pairing bond quotations of two weeks aso
with those of today will confirm this fact.
The same period has brought to stocks. de-
spite the dullness and incidental beer at