St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-19
FINANCIAL.
New York.

New YORK, April 1S.-The stock market
to-day showed the same characteristics as
those of the former days of the week, the
dealings being confined to the few stocks
in which Chicago and Boston are most inter-
ested, and the bullish feeling is now so pro
nounced that all bad news seems to have
only temporary influence, and to-day the
further gold shipments and the decreasing
bank reserves were powerleSS to check the
rising tendency in the market. Some of
the specialties referred to scored material i'm
provement at the close. The gold shipment
met the market at the very opening and
prices for the first sales were generally
slightly lower in consequence, while
some further losses were sustained i'll the
early dealings, but the only marked decline
was IN Tennessee Coal, which was affected by
the protest of the stockholders against the
disposal OF the assets of the company at u
price unsatisfactory to them On the other
hand, Chicago Gas was buOyant and Illinois
Central as WELL and they were later joined by
the general lists. in which the Northern Pa
cltics were conspicuous, and the preferred
especially so in the late trading. Among the
speclai.les, cordage was again lifted
materially, but the granger stocks and
other late favorites moved with
more deliberation. The demand was
urgent, and even the bank statement
failed to arrest the upward course of prices,
the market finally closing active and strong
at the highest prices reached though as q
rule the list was only slightly changed from
and Cordage and Northern Pacific preferred
each IA. Railroad bonds were dull; sales,
Sl6S,000. Government bonds have been dull
and steady. State bonds have been neg
lected. The Post says The fact that in
the last two weeks there have been exports
of $500, $50 of gold, and yet that the total
decrease of the surplus reserve in that time
has been only S2,070 125, shows that
money is coming from other chan
nels to supply the drain of gold,
and that there need be no fear of any strn-
gency i'll the money market, but that on the
contrary, the increase of exports OF wheat
will probably soon have an effect on the ex-
change market, stop the exports of gold, and
make money abundant. The prevailing bull
ish sentiment in this market which is based
mainly on the expectation of good crops.
large exports OF Egrain. ana consequent gen.
eral prosperity i'll business, has had much to
contend with this week in the exports of
gold, and consequent possibility of higher
rates for money: also the unsatisfactory re-
suit OF the Western Traffic association in Chi
cago, and the still more unsatisfactory
possibility that the Northwestern may
build line to ogden paralleling the
Union Pacific. Nevertheless, the stocks
which have furnished two-thirds of the
weeks business are ali from to Ice higher
than week ago. Had there been any res
ponse in London and on the continent 10 the
bullish movement in this market during the
last week, there would have been an impor-
tant rise IN the general list. But in London
as we'll as Berlin, speculation seems to be
paralyZed. The Bank of England has paid
Immense sums to meet the acceptances of the
Barlngs and as security for these advances
Is holding an immense amount OF Argentine
securities, the prospects for which are not
even week ago. The Gillian market will
also be cause for further embarrassment to
England: altogether the financial outlook on
the continent is not reassuring.