St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-01
DIRECTORS.
FINANCIAL
New York.

NEW YORK, July 31.-The stock market to-
day was again moderately active, n while
there was q continuance of the bearlsh pres
sure upon the list, together with considera-
BILE liquidation Of long accounts. no material
impression was made among the leading
shares outside of Rock Island, aud III the
afternoon some Of the Specialties developed
marked strength with the effect of recover
ing a portion of the losses of the last few
days. By the action OF the market yesterday
afternoon and this morning. many were led
to believe that the downward movement,
that is, the power of the bears to further de-
press prices. was nearly at an end, and their
resistance to the pressure this morning
was more vigorous than during the last three
days. The circulation of rumOrs reflect
ing on the standing of some OF the best
houses in the street was looked upon IN some
quarters as an indication that the promul-
gators of the stories had about come to the
end of their rope and more disposition was
evinced to take a chance on the other side of
the market, which was encouraged also by
purchasers for foreign account, estimated at
some 25.G00 shares.
The smaller shorts ran TO cover, but the
larger bear interests maintained their atli-
tude and sold the list as usual. concentrating
to early efforts upon Rock Island and North
ern Pacific preferred, though the unusually
large gain Of the latter at the opening gave
the Opportunity for effective hammering
in it. Rock Island, however. was the
only stock In which ally real decline
was affected among the leading
shares. Later in the day some of the speci-
allies made dips which were generally quick
" neutralized and prices as a rule were held
throughout the day. The foreign demand
with the covering of the shorts made a de
cidedly strong opening, hrst prices being
from u to So percent higher with Northern
Pacific preferred up "a. The demand, how
ever, was not sufficient to overpower at once
the pressure still brought to bear. especially
upon Rock Island and Northern Pacific
preferred and those stocks declined material
". dragging the rest of the list down to about
the level of last evenings figures. The
downward movement was checked before
noon and after that time decided strength
was shown in all parts of the list. all the
active stock rising over l percent with In
dustrials leading, Chicago Gas shooting up
2I2 percent.
The trading was marked by irregular move
meuts, and Cordage, after dropping 1l2, rose
2 per cent, other loW-priced shares acting in
the same manner. The best prices were
made at about . p. m, when reallzalons
off slowly, but the usual result of a check TO
the selling was seen in the dizziness. The
market finally closed dull. but steady TO firm
at close TO the highest figures of the Jay. Tbs
final changes are quite irregular, with a ma
jority of advances, and, while most stocks
are only f~ractionally changed from last even
inn, Colorado Coal is up PIP; Chicago Gas,
2Is; Tennessee Coal, 1S4; c., c.. G. Il So.
Louis. Ia. and Pacific Mail 1 per cent, while
Sugar declined 154 and Rock Island l per
cent. Railroad bonds were also active: the
sales of all issues reached S775,000; but this
increase in activity was all in two bonds
Improvement IS and
& West Point IS. the latter being specially
strong. while the former was equally so. Ore
gon improvement IS rose 8 per cent to 81.
The general list followed closely the changes
in stocks. Government bonds have been
dull and steady. State bonds have been ell
tirely neglected. -
The Post says: 1t may reasonably be ex-
pected that scare stories about The corn crop,
which happens to be a tride late, will figure
in speculative circles from now on. 1t might
be wise for holders Of stock in roads of that
particular section TO study the corn market
statistics and prices from day to day before
taking alarm. Burlington & Quincy direct
ors took a good deal of win out of the bears
sails by declaring. considerably in advance
of the usual time, the regular dividend on
their stock. This helped the msrket although
trading became dull again, and prices CON
tinued TO score moderate gains.