St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-05-04
FINANCIAL.
New York.

NEW YORK, May 1.-The stock market was
quiet to-day, but there was a firm tone
throughout, which advanced prices slowly
but steadily, without material change in
prices at the close. The street is again in
waiting attitude. The situation in the btu
minOus coal districts had some effect to Gre
ate feveriSh market, but it seems to be
recognized now that the strikes Will not last
long, as they seem TO have arisen from the
fact that the leaders do not promptly make
known the outcome of their conferences
with the coal operators. There was no lite
III the market at any time, and while
times in st. Paul, Burlington, Cordage
and Silver Certificates, the general list pre-
scented no feature whatever. st. Paul was
the only really active stock and 1t succeeded
in scoring larger gain thai the others, but
the movement was without life. Silver fur
nished the only feature of the trading. Ru-
mors were prevalent that large amount of
silver was to be shipped, and that London
would be compelled 10 take a large amount
in connection with its Argentine complica-
tons. The stock of silver has again begun
TO increase. and there was evident manipula-
ton of the price to-day; which on large
of cent higher than last night.
The bank statement was more favorable than
expec:ed, though the heavy shipment of gold
to-day counts for little or nothing in it. The
former shipments, however, were balanced
by receipts from the interior and a small in
crease in the surplus reserve was shown The
market however, did not respond to the
statement and slight concessions were made
in The final dealings but the close was firm
though dull, at Or near the best prices. The
final changes are in all cases for small frac-
lions only, with large majority of
quiet and without feature of any kind,
and while $4,000 were traded in. no
perceptible tendency in either direction
cou'd be noticed. Government bonds have
6IIll md DIV tota ,1e
neglected. The Post says: The rise in the
stock market, which was from 1 to 10 per
cent for the month of April, made very little
further progress i'll the last week owing to
combination of events in the last three days.
viz: The defalcation in the North National
bank, the unsatisfactory statement of the
Burlington for March and the first quarter of
the year. the poor showing of the Union Pa
the Trunk Line association, and finally
the heavy exports of gold which
were Sl,55o,000 for the week. Some of the
above circumstances, especially the state
mentS or the Burlington ana Union Pacific,
were understood to represent conditions
which had been discounted III the prices of
stocks month ago. Nevertheless in connec-
ton with the other disturbing circumstances
they helped to make an easy feeling on the
part of people, who were Specializing for a
rise, and this resulted in q check 10 the move
ment of prices. These were reasons enough
for the halt In the speculation without at
trlbuting 1t to Mr.. Gould, as is done by good
many people lnsthe street who imagine that
he does everything that happens. The high
est prices of the week were made in most
cases last Monday and Tuesday, when the
market was very active and buoyant, with
prospects of a continued advance, which
would probably have continued through the
week if it had not been for the unfavorable
events as above mentioned. But with the
exception of the gold exports, and the pre-
sumption of some financial troubles in Eu-
rope, there was nothing OF a nature to have
anything but very temporary effect on the
stock market. And unless something new
and now unforeseen happens next week,
bullish temper of the specializing public in
this country will make higher prices for the
majority of stocks.