St. Paul daily globe., 1891-05-07
FINANCIAL.
New York,

NEW YORK. Nav 6.-The waiting attitude
OF the stock market was more fully exempli-
ned to-day, and. although there was fairly
active business transacted in the few leading
shares, there were only the usual narrow
movements of prices with no decisive move
ments. The tendency in the forenoon was
downward but was reversed later in the day
when reassuring news from the conference
was received. The temperature of the room
was rather mixed during the day, however
and traders were content to feel the market
from time to time without going very deeply
lnto IL. while the continued small
steady the list from time to time. and
| finally with the aid of considerable covering
OF shorts rallied the market after the selling
tor arDltrage account in the early trading was
over. The weakness of Louisville under this
pressure was one of the features of the early
tradlng, while the strength in the Wheeling
q Lake Erie shares was another. Outside of
the activity in st Paul and Chicago Gas and
fAtcnlson at times there was DO other special
feature or interest. The opening was made
at Irregular changes from last evenings
hgures and the stiffening tendency of last
evening soon became apparent in the ad-
Vanclnglhgures, which, however never got far
away from those of the opening, and the sell
ing by London caused sharp reaction
which took prices fractionally below
the level of the first sales Louis
vliie declined per cent, but Wheeling e.
Lake Erie preferred rose q like amount The
downward movement was shortlived, and in
the afternoon the confident feeling became
so pronounced that a full rally followed in
the general list, while few stocks were lift
ed materially. Among these Cordaoe was
most prominent, rising nearly per cent
from Its lowest figure and holding most OF
the gain to the end. The final dealings in
the stock market were marked by few
movements among the low-priced shares.
hocklng valley being prominent, with a gain
OF 1l2 per cent, but the general list was con
tent with fractional advances The
market, however, while quiet, closed
staong a ana = confident, -, at the highest
are generally small fractional ad-
ances, while there are few declines. Cord.
age, however, is up 1s4 per cent: Southern
Paclhc, rs; Hooking Valley, IA and Atchi-
son son ana ST Paul each per cent, There was
tne usual quiet business i'll railroad bonds,
the sales OF all issues reaching $685. 900, and
Whlle the market remained firm there was
little or no feature OF interest deyeloped dur
Ing the day. Atchlson incomes and Kansas
" IeXas seconds were active, but scored only
fractional gains with the rest of the list
government bonds have been dull and
steady. State bonds have been quiet and
steady to firm. The Post says: 'One million
more gold was engaged to-day for export
tomorrow, making q total of 3d. POO 900
up to 2 80 to-day since Monday morning. but
the erect OF this was more than offset by the
favorable reports from the Western Traffic
ASSOCIATION. Besides the sentiment had
changed. since yesterday. There was no
more talk of the mysterious hole into
which the exported gold was imagined to be
running; ON the contrary, the bull leaders
all began to recall the persistent govern.
ment purchases Of $5,0O0,OO0 of silver per
month. and to figure up that on May there
had been an increase of the CURRENCY in the
year to the amount of SIS, 81, ,022 coined or
issued, decrease of s.. 952, OBS in the treas
ury, and an increase of S91, ,323, ,O6O in circula-
ton, and all this helped to stimulate the
speculation and advance the prices of stocks.