St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-22
FINANCIAL.
New York

New YORK, April 21.-The stock market
met with a check to-day, but as regards its
strength and activity, though the firmness of
Its tone was not impaired for moment The
execution OF numerous stop orders gave the
bears an opportunity to attack some of the
leading shares with success, while a realiza-
ton of profits accrued on the advance of the
past few days aided i'll unsettling tor the mo-
ment the confidence OF the bullish feeling in
the street. The local operators, as a rule. are
known to be fighting the rise, and while re-
actions are always to be expected in GEN
eral advance, there was nothing to-day
which could be called a reaction
even with the conjunction of all the forces
which may be arrayed against the up
ward movement. A halt occurred, however
which had the effect of making many would
be buyers pause, and the volume of business
after the realizing sales OF the forenoon be-
came materially smaller than that of the last
few days at that time of day There was
rather larger foreign demand than usual.
and the western demand was still promi-
nent, while those in position to know say
mat there has been no change in position
among the Western operators but the effect
OF the sales was most apparent in the West
ernstocks, though entire market felt like infu-
ence' further engagement of gold for ex-
port was not without its effect also, but the
tendency in the street IS to disregard the
movement OF specie outward, and bevond
Offering a little additional encourage
ment to- the bears it was soon for
gotten. The market, Notwithstanding the de-
crease in business, .percepubly broadened
though the principal trading was still con-
hned TO The same few stocks which have
been prominent in the market for the last
two weeks. The trading, however was bet
ter distributed, and the stubborn resistance
to the depressing influence kept prices gen
eraly within narrow limits, and finally forced
a retreat on the Fart of the advocates of
lower figures. The weakest points in the
list were naturally those which have had the
greatest advance, such as Chicago
Gas and Rock Island, though there
was, for the amount Of business
done, considerable weGkna ) displayed
at times in lackawanna. Among the spe-
cialties Oregon Short Line followed the
bonds and rose sharply, and among others
may be mentioned Wabash preferred and
Richmond q West Point preferred and
Wheeling d Lake Erie preferred, W hich was
aided by the increase in the dividend rate. as
promised some time ago. New England also
became prominent by squirt in The after
noon. lneXplc6ble. as usual. with the move
ments in that stock steady opening was
followed by general selling movement.
which forced prices off from "A to "a per
cent but after this had spent its force
there was a complete rally but the con
tinued efforts of tie professionals
to force decline kept the market rather
feverish throughout the day aud the general
tendency of prices downward. The market
finally closed fairly q tive and heavy, but
with promise for tomorrow while prices
were generally small fractions under those of
the opening. Railroad bonds were fairly
active again and again displayed firm tone
as rule though the movements were not on
Sd large scale as those of Yesterday. Ore
gou Improvement iyes continue active on a
statement of large increase in the net earn
lngs for the first quarter of 1891 as compared
with the corresponding quarter of 1896. Gov
eminent bonds have been dull and steady.
State bonds have been dull but steady