St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-11-06
FINANCIAL.
New Work.

New YORK Nov 5-The stock market
to-day was again subjected to cOnSIderab BILE
pressure from bear sources. aud. while dull
for the greater part OF the time and entirely
featureless in the general list, the activity
developed in few stocks bv the hammerlng
operations OF the professionals brought the
total transactions up TO very respectable
figure. The general lis. also sympathized
with the weakness in the few stocks which
suffered most pressure, but only i'll those
shares was there any real weakness shown
and The losses for the day were insignificant
outside OF the few shares which received
most attention.
Money rates were easier 20 -day, and loans
were effected as low as + per cent. The Coal
stocks and the Changers were the features of
the day, and the hammering of those shares
was persistent and heavy. especially during
the forenoon and the last hour, and in Della
ware d Hudson, which was depressed ) per
cent and Lackawdnna over > per cent, al
though no apparent cause for such losses
could be found other than vague rumOrs of
trouble in the coal trade, which have been
current siuce the failure 10 limit the output
for this month. The Texas Pacihcs
were raided again this morning but
little impression was made, except in
the seconds. which fully recovered
after an official of the company had stated
that it is III good financial condition and its
earnings were published. showing a very de-
cided improvement. The stock was well
held throughout. Outside of the COalers and
Changers. Northern Pacific.preferred, c. c. c.
q st. Louis were prominent at different
times for weakness, but after partial re-
covery the Coalers weresraided IN the after
noon.
The general list opened at insignificant
changes from last nights figures and sym
pathized reluctantly with the declines in the
leaders, but fractions were taken from the
prices OF everything traded in, and the end
of the forenoon saw the lowest prices
of the day for most stocks Dizziness and
stagnatIOn marked the dealings during the
greater portion of the afternoon. aud the
last hour was made the opportunity for Il
final drive at the cOale rs, which then lost the
recovery they had made from the low figures
Of the forenoon.
The marEet closed quiet and weak, at the
lowest prices of the day. The important
losses include: Delaware d Hudson 3; Lacka-
wanna, .: Wheeling x Lake Erie preferred.
1la; Reading. 1ss; c., c., c. d ST. L., and the
Northern Pacific, IL each, and Burlington
per cent.
The Post says: Where the operators for
lower prices met with their greatest success
was in the coal stocks, in which selling or
ders, partly from inside sources, were
again encountered. Observers may draw
what conclusions they choose from the
course OF the market for these stocks: the I'M
denlable fact remains that there has been
steady liquidation. II does not follow that
the rumOrs of disputes between the COM
panies are true though the recent action,
or rather lack of action, by the sales agents
looked somewhat like an endeavor to avoid
grounds for quarrel. But there is a feeling
arising from the extraordinarily heavy sales
OF anthracite thus far in the wear that the
coal producing companies may have antici,
pated the normal winter demand and thus
paved the-way for diminished business later
on. This IS necessarily conjecture. Even
the coal trade managers admit themselves to
be puzzled by the situation. But the very
fact that the outlook is doubtful explains the
selling long stocks at current prices.