St. Paul daily globe., 1891-06-28
FINANCIAL.
New York.

NEW YORK. June 27-The stock market
te-oay was quiet. but remained weak. many
STOCKS closing materially lower than last
tor;niig evening; Whlie the entire list is now ma
terlaily lower than week ago. There was
nothing In the news of the day to encourage
either new buying or the covering of shorts
ana, whlle there was no particular pressure
70 ssii long stocks the bears were again act.
we ana aggressive, and vigorous drives at Ger
tam speclaltles gave the entire market a wea,
zone ana broke some shares very badly. The
lnuustrlals were again the most yuluera hIe
point IN the market. and more stop orders
were uncovered IN COrdage, which was eyi-
IDENTITY left without any support whatever hv
the insiders and dropped from 96c to S9i5c
Sugar followed, but met with some sunnort
ana rallied slightly. and Chicago Gas, which
was lncHned 10 show some strength i'll the
carry trading, gave way toward the close
several other weak spots were uncovered in
the general list, however and Northern Pa
enc preferred. st. Paul, Louisville Pacific
Maii e l,s an9 some others scored material losses
LOT the day on comparatively small trans
actions. The bank statement was awaited
with some anxiety and was late in nnblica
non. but while it showed heavy increase in
ueposlts ana Ioans, the exports OF gold more
TINS was interpreted as a point in their favor
py the pears. and the selling for the short ac-
count was resumed within the last few min
utes OF bringing down many stocks which had
remained mparatively firm I'D to that time
Among these the Wheeling d Lake Fries q
=. Z. d st. Louis and Northern Pacific pre-
ferred were especially prominent. The mar
ket nnally closed fairly active and weak at
the lowest prices for the day and week. The
nnal changes are all declines and while the
great majority are for fractional amounts
Cofuage lost 5l2; Sugar, 134; Northern Pa
enc preferred, ia; Tennessee Coal and Chi
cago Gas each 15s; ST. Paul and Pacific Mail
each, IA; Wheeling and Lake Erie pre-
1erred, lPs: and Louisville & Nashville per
cent. Railroad bonds were quiet but fol
lowed the share list closely in temper and re-
NAMED heavy to weak. The limited trading
prevented any material change IN the active
bonds but Baltimore & Ohio IS of 1887 lost .
at 9l.U2 The trading reached $685. Gov
ernment bonds have been dull and steady.
Stale bonds have been neglected.
Inc Post says: Everybody had selling
orders at the opening to-day, and was in a
hurry to execute them. The natural conse-
quence was an immediate continuation of
yesterday selling movement and already
marked In Louisville d Nashville st. Paul
northwestern and National Cordage. The
last mentioned stock, in fact, went all to
pieces The price was cut under every sue
cesslye offer, and had collapsed upwards of
hve points before the first half hour was
ended Whenever blind pool industrial
goes 10 pieces on the market, its friends an
nounce the approaching declaration of a
dividend. National Cordage was no excep-
uon: ana handsome quarterly division of
prohts is promised for next week.
The bank statement was unquestionably
favorable statement but it had no effect on
the market. Its publication was followed by
q sagging off in prices throughout the list.
now hold SIS, 41l.600 in excess of the require
mentS of the 81 nar cent rula