St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-23
FINANCIAL.
New York.

New YORK, April 2l.-The stock market to-
day again gave evidence of its inherent
strength, though the improvement in values
IN the general list was small and the volume
OF business was not equal to that of few
days ago. The Gould stocks came to the
front, and the rise yesterday in Wabash was
followed by similar movement in Missouri
Pacific and Missouri Pacific, the only stocks
comparable in strength to these being the
wheeling Lake Erie shares, which are now
feeling the full effects of the advance in the
dividend rate on the preferred. The
same stocks still led III the market
however. and evidences of real
izing still presented themselves from
time to time although there was no particu-
lar pressure of stocks for sale at any time,
and the movements outside of the shares
mentioned were generally confined within
narrow limits The traders to some extent
shifted their position over to the bull side,
presumably on the suppostion that the
Gould interest is enlisted on that side of the
market, and the prompt denial of the inter-
view ascribed to Mr.. Gould gave increased
confidence to the buying of the stocks with
which he is most closely identified at present.
The absence of pressure to sell on the part of
the local operators had much to do with the
diminution of the volume of business but
the money question IS again beginning to
trouble the bears, and the late reaction has
put q great many out of the market
for the present. The late dealings today.
however, gave evidence that fresh blood is
forthcoming, ana the comment lone of the
talk heard on the street shows that the fear
OF the furry i'll money between this and
July is confined to few interested individ-
uals. The movement toward this center
from the interior is increasing, and the effort
to put the S20.000,000 fractional currency into
circulation will, in all probability, increase
the available funds loanable in the market.
In the late dealings there was another effort
10 bring the industrials to the front
the cotton oil stocks being selected
for this purpose, and all of them were
advanced sharply, the new stock showing
gain of per cent They were during most
of the day kept quiet and the others moved
with the general list Railroad bonds were
quiet again. the sales reaching only s., 159 COO
with no special animation anywhere in the
list; and while firm tone prevailed as a rule
throughout the day, there were no special
movements of importance The Oregon I'm
proyements fives were still prominent, but
failed TO advance, and the business done was
very widely distributed without developing
my feature OF interest The market closed
flrm. State bonds have been entirely
as the exports of gold are con-
cerned. it is now understood that instead of
stopping in Berlin, 1t goes to Austro-Hun-
gary ana Russia to pay for wheat, of which
those countries had surplus last year, and
have lately been selling The GOLD goes.
therefore, to settle a legitimate trade bal
ance The fact that Russia is refunding some
of her loans makes a necessity for some gold
there to sustain the credit of the new issues,
and whatever premium is being paid for the
gold is being paid there. 1t is this which en-
ables bankers to export the gold when the
bills against it are selling at slight loss
But an advance of even half a cent on the
pound in exchange would afford profit on
the export OF gold on the usual basis.'' Gov
eminent bonds quiet but firm.