St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-28
WALL STREET AWAKE.
Stock Develops Sudden Strength
and Activity.

New YORK, Jan. 27.-The stock market to-
day was somewhat of a surprise to many
people. developing sudden strength and
activity that was entirely unlocked for, and
the movement of the market to-day in con-
nection with that of yesterday seems to indi-
cate that it has gotten out of the rut into
which 1t had fallen, and promises to become
broader and more active. The one unsatis-
bring forward gain as bull card the
sugar receipts and the new stock of
the company. The latter was given a
twist OF over per cent and both became
active in the last hour. There was large COW
erlng of shorts by the sellers of the past few
days, and the steady demand from that source
kept prices moving upward, without any real
setback after the first few minutes trading.
when tentative attack was made upon the
market, or rather some stocks which were
Z thought to be vulnerable. Such undoubted
support was developed, however that the
selling was as quickly as possible turned into
buying. and the Gould stocks, the coalers, the
grangers and many specialties which have
been SO conspicuous for weakness under the
attacks Of the professionals during the past
week or SO. became prominent in the upward
movement. Manhattan was dropped sud-
denly from 100 to 1854, and Lackawanna
Burlington and Chicago Gas were forced off
fractional amounts, and the last two stocks
were rather sluggish throughout the day,
failing to keep pace with the rest of the list.
st. Paul. however. led the advance in the
forenoon, and later Union Pacific, which was
also the most active, came to the front, fol-
lowed by Missouri Pacific and Northern Pa
cifc Jersey Central, however outstripped
all the others. its advance being on the same
gigantic scale as It's late decline Manhattan
recovered almost all of it's loss. The indus
trials. which had been dull throughout, came
to the front in the last hour but too late to
have any real influence upon the shares of
the regular list The market finally closed
quiet, but strong at the highest prices of the
day. The list is almost invariably higher to-
night, and Jersey Central is up ga; ST. Paul
and Union Pacific, each 175; Missouri Pacific
and Northern Pacific, each 14s; Northwest
ern, Lackawanna and Northern Pacific pre-
ferred, each 1l2; Canada Southern, Louis
Vile q North American, each IA; Western
Union. Wheeling d Lake: Erie preferred, New
England, Lake Shore and G., c., c. & st.
L., each per cent, and Sugar Refneries, 2I2.
Railroad bonds were slightly more active
than usual of late, and, like stocks, were
stronger, though the general list displayed
only fairly steady tone. Among the
active bonds, however. there were some
marked gains. The trading reached 81, 10S,-
0OO. out of which the Northern Pacific fives
furnished Sl95000. Government bonds
have been dull and steady. State bonds
have been dull and without feature Pc
troleum opened weak and declined SAC in
the early trading, but reacted later and
closed steady. Pennsylvania Oil-Spot open
ing, 7358c; highest, 735sc; lowest, 1850; clos
ing, 1890; February option opening, 7514c;
highest. 75Ac: lowest. 74l4c; closing. 75lsc.
Lima Oil-Openins, 19c; highest, 19c; lowest,
19c; closing. 19c. Total sales, 10000 bbls.