St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-11-28
Merchants National Bank
T.PAUL, MINI.
Capital, 81, 900, 600
SurpIuS& UndiYidGdPrOftS, 600, 600
v. MERRIAM. President.
{. Ii. BIGELOW, Vice President
] "A. SEYMOUR, Cashier.
SkO. {. POWER, Asst. Cashier
DIRECTORS
FINANCIAL.
New York.

NEW YORK. Nov 27.-The stock market
was rather more animated than was gener-
ally expected today, coming betw cen a
whole and half holiday, and while the gen.
eral tendency of prices was down. it took
considerable pressure by the professional
element in the absence of any buying of
note, to accomplish the insignificant de-
clines made, while the old tricks OF c1rcu-
lating false rumors were employed to some
effect The opening of the market was firm
with considerable buying of the few leading
stocks for both London and the West but
the bears soon attacked Chicago Gas and
sold it down to = per cent with the repetition
of the old rumors of successful competition
with it in the city and also by stories of new
suits to be brought against the company in
the courts.
Whenever this pressure was relieved for an
instant. however, the inherent strength of
the stock bacame apparent Immediately, and
some sharp rallies were effected at times,
though the final result of the days trading i'll
it was material loss. There were rumors
afloat also of some large house in trouble,
and these gave considerable weight to the
selling but as soon as it became known that
TIE firm was Field, Lindley & Co, it was dis
covered that they were short of stocks and
the market became stronger Immediately.
In the forenoon there was some impression
made upon New York Central, which, after
selling up to liz, retired to 1ll7S. but finally
closed only a small fraction lower than on
Wednesday. The rest of the list yielded
fractionally to the pressure as rule. but
New England was a marked exec ptiOn. but
its strength was as mysterious as all the
moves in that stock, but joined by distillers
1t helped materially TO rally the list in the
afternoon. The announcement of the as
signment of Field, Lindley u Co. was fol.
lowed by a marked change in the temper of
the market and few of the more stubborn
stocks regained all the forenoon's loss.
Outside of the usually active list, however,
there was no feature to the trading, and to-
ward the close the attack was resumed by
the bears with the purpose of affecting the
London market tomorrow The impression
made by the raid was slight and the market
closed within small fractions Of last night S
figures. though il was dull and heavy at the
time. The net loss in Chicago Gas reached
ia, but Distilers on the other hand. rose
per cent and New England per cent.
= The Post says: or the two clouds tina
have so long overriding the market. the Rich
mond Terminal and the Union Pacific, may
at least be said that their finances are now
in strong hands and removed from the OBJ
hoxious atmosphere of family quarrels. The
worst result OF their public EN- Embarrassment,
the suspicion that other companies may be
overburdened with similar floating debts,
may be satisfactorily met by the action of
their directors on the question of dividends.
Several i'm Important companies, including the
Rock Island and the Missouri Pacific, will
take this action next month. The
coal trader rumors are not at all
critical The Delaware d Hudson has de-
clared its December dividend at the usual
rate, and although this was actually a fore
gone conclusion-the company policy being
10 decide d year ahead on its dividend rate
there had been some uneasiness over Fumors
of a possible reduction. These facts, with
the prospect of a renewal of Europe's heavy
shipments Of gold to us, are certain sooner
or later to have their influence.
Total Sales of Stocks