St. Paul daily globe., 1891-04-28
FINANCIAL.
New XOrk.

New YORK, April 27.-The stock market to-
day felt the influence of realizing sales even
more than the last few days of last week, but
the demand which has sprung ND from out
side sources was a great sustaining element
in the speculation, and enabled the list to
successfully resist not only the realizations
but also the efforts of the reacuonists to
bring about materially lower range of
values and the influence OF the further en-
gagements of gold for export The bank
statement of Saturday clearly showed that
currency is again flowing rapidly to this
point from all directions, and enabled the
banks to increase their reserve notwith-
standing the drain from the ship
ments of specie abroad. The smaller
class of operators are the disturbing element
at present. being prone to accept profits
whenever they see them The strong points
in the market to-day were first, the Wizards
the Wheeling &; Lake Eries, New England
and some of the specialties, but the resist
ance TO the pressure was so stubborn in the
general light that only small fractions were
lost I'D the active shares and considerable ir-
regularity was shown in the final change
The result of the pressure, however was to
restrict business after the first decline on
realizing sales by the bulls. Outside of the
manipulations of the bulls and bears the
confidence of investors is based upon the
condition of railroad earnings the absence
of any serious clement in the way of harmony
among; the roads and the favorable crop
outlook. There was during the day
active buying of Missouri Pacific Louis
vile, New Albany d Chicago, the
Wheeling & Lake Erie and Wabash, Union
Pacific and st. Paul. The pressure to sell
was again felt in the final dealings, and the
grangers were weakest as having had the
greatest rise, and in some of them the losses
from the best prices reached as high as ls4
per cent. The Wizards were the strongest
points. but the reaction finally reached every
thing on the list. Tha market closed active
and weak g.; the lowest prices, but with hope
fulness for the immediate fnture- The final
losses of note include Sugar 2; Northwest
ern, 16s; Chicago Gas, 1ss; Burlington, ia;
Wabash preferred, 1Is, and Alchison. St.
Paul, Louisville and Union Pacific. each |
per cent. Railroad bonds were moderately
active, the trading reaching Sl644,OOO. but
there was no sympathy with the movements
in shares. and firm tone marked the trading
in general. The final changes, however, are
Insignificant and the business done was
widely distributed without developing anv
marked feature of interest. Cleveland and
Canton first were very strong, rising per
cent to 92l2. Government bonds have been
dull and easier. State bonds have been dull
and steady. The Post says: There were no
additional gold engagements In the after
noon, but the sterling exchange market was
very firm, and bankers who have recently
shipped large amounts anticipate that CON
siderable more gold will be shipped by this
weeks steamers. The market was lower in
the afternoon, the lowest prices of the dav
having been made in the last half hour. Lon
don sold large amount of St. Paul, Erie.
Northern Pacific preferred and Louisville,
and traders were liberal sellers to realize
profits i'll all the leading stocks"