St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-05-26
FINANCIAL.
New York.

NEW YORK, May 25.- The stock market
to-day lost its buOyant and confident Tone
which was SO pronounced in the latter part
of last week. and prices reacted from the
high points attained last week. The down
ward movement however, was slow and the
progress insignificant even in heavy stocks,
while the general list displayed only insig
nificant changes. The notable feature of the
market was that the stocks like st. Paul and
Rock Island, which are supposed TO be so
thoroughly cliqued that their fluctuations
are under full control, were as weak as the
remainder OF the list. The business done
was more than usually of late confined to a
few stocks, and the half dozen leaders fur
nished about One-half of the transactions.
The selling in the market again was appar-
emily for foreign account, and it checked
the buoyancy of the market and the trading
as well. The most powerful force in the
selling movement was The continuation of The
outgo of gold, There was a lower opening.
although the losses were confined TO small
fractions and the early demand was sufficient
to cause rally which brought most of the
list up to something better than Saturdays
figures The further expected shipments,
however, proved too much for the buying
powers, with the selling by both the foreign
ers and the West, which realized to some ex-
tent on the advances of the latter portion of
last week. The market continued to drop
under these conditions the entire portion of
the day. and remained free from features of
interest, while the grangers, and especially
St Paul, were active within narrow limits on
reports that The movement of gold would not
be large as expected after all, railying the mar
ket slightly. The upward movement lacked
vigor, however, and the market closed
quiet, but heavy, at about the lowest
figures. The market closed heavy
OF about the lowest prices the changes in all
cases being for small fractions only, with the
larger number of declines. Railroad bonds
dull as usual, with general list steady, but the
Atchison incomes Reading incomes and
Oregon improvement fives were weak. The
sales. $3.50, 600: but while this was fairly dis
tributed there was no feature of interest
developed. States dull, steady. Petroleum
opened steady, but yielded 112 under pres
sure TO sell a small amount fro IN the West
Later the market rallied, then became dull
and remained SO until the close. Pennsyl-
wanna oil. spot June opening. 6SS4c: highest,
5Ss4c; lowest 6714c; closing 6Ss4c. Lima OIL
opening, 164c; highest, 16l2c: lowest 16Ac;
closing, 16l2c. Total sales, $4,000 bbls. The
Post says: The market was more active. and
the speculation was influenced by two groups
OF circumstances IN opposite directions.
First, the crop news from every part of the
West was very favorable owning to
recent much needed rains. On this
prospect Chicago is bullish on the granger
and is an active buyer The favorable bank
bic one that was generally expected, and the
gradually increasing PUBLIC disposition to
expect an i'm portant advance in stocks and
an increase of speculation, generally helped
to put nearly all the active stocks &c to 5sc
above Saturdays closing prices before 1920
this morning. On the other hand, the ex-
change market was firmer and the impress
sion was increased that there would be more
gold exports this week.