St. Paul daily globe., 1891-09-01
FINANCIAL.
New York.

NEW YORK, Aug. 31.-The stock market
to-day was for the first time this year decld-
edly active, and the business eclipsed any
thing since the panic of last year; but the
temper of the dealings was in marked con-
trast to that time, and while there was great
deal OF feverishness, the market on the Whole
was very strong, and the final changes
among the leading shares are all in an nm
ward direction. The trading element which
has been looking for reaction. largely for
the purpose OF buying stocks previously sold
out made vigorous effort to get prices
down, while the BUYERS of last week were tn
a large extent disposed to realize on the
profits already accrued from the improve
ment in prices during that time. The supply
OF stock for sale. therefore, was very large
and thefaiding during the first hour was
enormous, something ln.the nature of 100000
shares, while the nervousness under the ex-
cltenent and the contending forces was
something unusual.
The sellers for time had rather the best
OF 1t; in most all the leading shares there was
fractional decrease from the prices of the
opening, which were i'll general in fractions
The activity reached all portions of the list
but the grangers again held the first place,
followed by the southwesterns. The selling
pressure was gradually relaxed, however
and prices began 10 advance materially unt
well in the afternoon, when the improyin G
tendency reached all portions OF the list I.
many Oh the leadlng stocks made large gains
at this time. St Paul, Burlington. Chieago
Gas, ROCK Island and Reading followinT
each other The rest of the list shared IN ~ 3
improvement, however and the DEALINGS ev1
tended to an unprecedentedly large num6er
OF STOCKS, pretty near all the wildcats being
bought and traded in. The best prices were
not fully maintained in all cases.
The bullish feeling ran high, while offer.
lngs for sale became smaller as the day wore
along. In many shares advances were scored
among the specialties. but the improvement
in the Wheeling and Lake Erie shares was
one OF the features OF the early dealings. the
advantage being held to the end The in
dustrlals were i'll no manner prominent. ex-
cept for the weakness in cordage in the late
trading. The market finally closed active
and strong at or about the highest prices OF
the day, and materially higher than last
week. The final gains OF importance include !:
Sugar, 1l5s; Chicago Gas ia: Burlington
lssc; ST. Paul, 2lsc; Lackawanna, Missouri
Paclhc and Wheeling and Lake Erie, 1Is
each; Reading, ss I; Union Pacific 2 per cent
and Wheeling and Lake Erie pfd. 1I5.
The railroad bond market kept pace with
the share list both as TO activity and strength
and the trading in this department also sur.
passed that Of any previous day this year.
Inc tone OF the dealings was equally as
strong, and among the leading issues many
marked gains were made. The Atchison in
comes were still leaders in point of activity.
The Reading issues were most prominent
for the advances made, while the improve
ment in most of the others were moderate
The market closed active and confident
Government bonds heavy and dull but
strong. State bonds have been dull and
steady.
The Post saws: The magnitude of the
short interest and the conclusion of the bear
raid is difficult to estimate but il is certain
in the present raid that the venturesome bear
interest OF last month is not by any means
ellmina ted as yet from the market Two or
three weeks ago before the sharp rallies be-
gan thaH wArH AhlA To CAVIAR in some stocks