St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-27
DIRECTORS,
FINANCIAL.
New Work.

New YORK Aug. 26-The stock market
was again active and strong to-day. making
substantial progress toward higher figures i'll
all portions of the list with rather a buoyant
tone to the dealings. The market gives evil
denee of broadening from day TO day. and its
stubborn strength in the face of the most
strenuous efforts to check the rise or TO bring
about a reaction shows the growing conf
dence of outside investors and spectators
in the future of prices. The feature of the
last two days dealings has been the evident
disposition to take uD the most promising of
the low priced shares. and while a few OF
these have been forced TO higher figures than
the times warrant. all have been placed ap-
parently upon permanently higher level.
The money situation seems TO be secure as
far as can be fOreseen, and with the surplus
now in the banks and the disbursements Of
the government including the payment for
the 4l2 per cents TO be redeemed there IS
little likelihood of a squeeze in money for
some time to come. In to-day market, how
ever, the grangers were again in the first
place as far as activity goes, and the reall7a-
lions assumed large proportions in them. in
duced by the high figures to which they had
attained while the efforts of the bears TO
force a reaction of substantial proportions
aided in weakening the entire list during the
afternoon.
The foreign purchases were the feature of
the forenoon's business, and while reallza-
tons were even then heavy, the impression
made upon prices was measured by small
fractions only, and a full and free recovery
took place under the urgent demand for
stocks. London prices this morning were
materially tetter than ours of last evening,
and the early demand made an active and de-
cidedly strong opening, and, while the pres
sure to sell was sufficient to force reaction
to the level of the opening figures, prices
could not be kept down, and later marked
advances were made.
The final dealings again developed con-
siderable strength in the list and the market
finally closed fairly active and firm at only
slight changes for the day in most cases.
The transactions reached 315,S16 Railroad
the speculative issues were specially promi-
nent. AtchisOn incomes, the Reading in
comes Wabash debentures and Kansas and
Texas seconds being most conspicuous.
Many of these scored handsome gains, and
the market remained strong until the close.
Government bonds have been dull and steady.
State bonds have been entirely neglected.
The Post says: Large buying orders for
London account gave special strength to q
few stocks, notably, Burlington, Louisville,
and Union Pacific Some hesitation was
shown in the movement of the market
shortly after the opening, but stocks soon
gathered strength.
There were a few conspicuous instances OF
strength and OF comparative weakness. Or
the first class was Union Pacific which, under
the influence of London buying and the COW
ering of shorts in this market was advanced
1I5 per cent above Yesterdays closing price.
The assurance that Mr.. Morgan has so iden-
titled himself with the project to save the
property, and that there is no hitch i'll its ex-
ecution, no doubt helped to drive the shorts
to cover. The Gould stocks, as group, were
notably strong. or the Vanderbilts, Chesa-
peake & Ohio stocks were buoyant.