St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-11-08
FINANCIAL.
New Work.

New YORK Nov THE stock market
to-day shows some of its old-time activity,
but was feverish and unsettled from the
opening to the close. with great irregularitv
in the movements and the final changes are
insignificant in almost all cases. The feature
Of the trading was the heavy demand from
the shorts. and the urgency of the buying
was seen in the unusual activity and the
manipulation having for its object the accu-
mutation OF STOCK without advancing prices
The hammering continued i'll some portions
OF the list 10 mask the covering in the other
parts, and the old tactics of abandoning the
effort TO cover when it became evident that
the movement was advancing prices too rap
idly with return to the hammering opera
lions at the close was resorted to.
The recent selling based on the absolute
certainty OF bad bank statement had its
c0nclusion to-day. and while the decrease in
reserves was material. il was seen TO be
largely due TO an expansion of loans which
II Is evident went to support the situation in
Boston. The banks, however. are still in
| very good condition. and, while the state
ment was made up on falling averages. il is
probable that there is still plenty of room for
| further expansion.
The opening was lower and jersey Central
| was off liz. but the heavy demand immedi-
| atelv turned the course of prices and the up-
| ward movement carried the figures up from
| i2 10 IL per cent with the coalers and
| LackaWanna in particular showing marked
| strength. The demand Stacked away before
| the first hour was out, and the market there
| after remained irregular and feverish prices
! going back in most cases. Northern Pacific
| preferred being most prominent in the de
| cline. going off lis from the highest figure
| The rest of the list, however held on to most
| OF the advances, though at one time lower
| prices than the opening were reached There
! was improvementin the final dealings though
! the close was still active and heavy Mt the
! close to the lowest figures. Most stocks how
| ever. show small gains for the day and Lack
awanna is up IA and Delaware Il Hudson
| ll2.
| The Post says: The particular method en-
ployed by the bear leaders this week have
| been characteriSticaIly mean and petty: but
| the operators have met with reasonable sue
| cess because the financial situation. tenn
porarlly ct least has favored lower prices
wall streets simple, though somewhat illog
| zeal explanation OF decline. that there are
| more sellers than buyers, has been peculiarly
| applicable under existing circumstances
| and philosophers on the situation have
learned that stock market cannot be adj
| vanced by scol0ing il for its declines
| An amusing illustration of the deter
| mlnation in certain quarters TO fight
| facts is found in the temperance of
| the silver boomer on the scene. His ar
| rival thus early in the month seems some
what premature, despite the bull points fur
| nished from London about RussiaS inten-
| uon 10 engage iii the business of cheap silver
coinage. But il is always a satisfaction to
| silver bulls 10 reflect that although India OBJ
! stlnately declines to buy much bullion as
| it bought in the excitement of 1890. il is act
ing contrary to the best advice of Wall street' s
| professional sellers.
Total Sales OF Stocks
to-day were 2O0,749 shares. including:
| Atchlson.... ...23SS5 Northern Pacific %. $50
Chicago Gas: 500 North. Pac. pfd 10. I32
R RTie LACK " Il gu Rei oS 49, 10 80
Louisville d n. S,S25 St Paul .........2 u. $50
| Missouri Pacific. 1864 Union Pacific -. 6OOO