St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-05-21
FINANCIAL.
New York.

New YORK, May 20.-The dominant factor
in Wall street is still the exports of gold. and
10 the uncertainty is due in great measure
the apathy of the leading operators who have
been lately arrayed upon the bull side. Inc
premium offered by the Bank of England
keeps the movement going now, but 1t is not Sc
riously believed that there will be another ad-
vance in that premium, as it is getting hard
to sell exchange even at concessions, though
aGvices from the other side indicate state
of affairs which would demand more gold
than can be obtained. The evident
dispositions of the foreigners to
buy stocks at the concessions in
prices which have been made in the
though this has been undoubtedly heavy COW
ering of shorts for the account of foreign
houses. 1t is matter of conjecture whether
the movement will cease with the elimina-
ton of the foreign short interest," or whether
the purchaser for the long account will be
continued To-day the purchases for for
elgn account were an influential factor III
keeping prices up, though The trading ele-
ment are still bearish. and supplied the
stocks wanted as usual of late. Commission
people were dong little, and the market as
sumed n emi-professional appearance. The
opening this morning was strong on con-
tinuation of yesterdays squirt and the de-
mand from the foreigners. The extent of
this buying was not measured at first, and
the upward movement was resisted with Wig
or until the afternoon, when the local shorts
DeCstfle IflS0leneO ana began 10 cover WIFI
q Will. The stronger stocks were Louisville,
Missouri Pacific, the grangerS and specialties,
the strength i'll Missouri Pacific being inter
preted as indicating that Mr.. Gould is again
III the market as buyer. st. Paul was most
active, as usual, but its preponderance in the
marketwas less marked than usual of late.
and the business done, it's very evident, was
distributed among the leading shares.
The upward movement met with no setback
whatever, and ceased only with the close of
bnSinpSc traded 81
the highest prices of the day, the mar
ket still being strong and active.
The final changes are marked aud
Louisville & Nashville is up "a Missouri Pa
cifc and Union Pacific each 49, st. Paul, c.,
c., c. q st. L., Rock Island, Southern Pacific
each 134; Northwestern, Lackawanna each
1Ss; Atchison, Chicago Gas, Burlington. New
England, Northern Pacific preferred, III
each; Erie and Wheeling d Lake Erie pre-
ferred each per cent, and the others gen.
orally large fractions. Railroad bonds were
dull, but became strong in the afternoon,
though outside of Kansas seconds there was
no material improvement in prices. Every
thing is higher. however. and the market
closed strong. though remaining without
special feature during the day. The total
sales were Su5.000. Government bonds have
been dull and heavy. State bonds have been
steady and declined slightly. then moved up
W on few Western buying orders,
after which it became dull and
remained at the close. Pennsylvania Oil,
spot, opening, 6SAc; highest, 6SAc; lowest.
6SAc; closing Ac; June option, opening,
6Sssc; highest, 6Sasc; lowest, 6S1sc; closing
6s5sc; total sales. 81, 600 bbls. The Post says:
I'm the afternoon the weakening of the eX-
change market was a little more pronounced,
and demand bills were heavy at S4.S4l2. This
afforded the possibilities of decline to-mor-
row to point that would not admit of fur
Their gold exports. The debt balance against
the United States has been pretty we'll paid
off by the gold exports since January, and
now, with decline in the price of wheat to-
day, will admit of exports, and with Europe
back to this country in the last six months of
1890, a drop IN the sales of exchange is about
due. The easier rates for discount in Lon
don today afford ground for the presumption
that the Bank of England rate of discount
cent. In this market money was easier.''