St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-09-04
FINANCIAL.
New York.

New Y DIRK, Sept 3.-The stock market con-
tinues to show steadily decreasing volume
of business, and to-day the trading was only
moderate outside of the half-dozen stocks
which still remain prominent in the market
The buying power seems to be checked for
the moment, and the bull leaders are letting
the market take care or itself apparently,
while liquidation makes some progress from
day to day, and the Intermittent a ttacks of
the bears serve TO get down slowly. In to-
days market Union Pacific was still the
prominent object of attention, and the ru-
mors were still thick, the one concerning the
application for receiver at Omaha making
most mischief.
Official denials which followed each one as
issued seemed to havesno material effect, but
the stock was not as weak as Yesterday and
late in the day the interest in its fluctuations
was in great part transferred 10 other Sc
curities. More pressure was brought TO bear
upon the Changers and Burlington and Rock
Island especially bore the brunt of the at
tacks, and at times exhibited considerable
weakness. The general list was very quiet
and the extreme fluctuations in but few
cases reached per cent, while stocks fol-
lowed languidly the course of the leaders
without getting far away from the ope ming
prices.
The opening was comparatively quiet and
weak, Union Pacific and Burlington each
showing declines of a per cent from last
winch were principally affected by the re-
ports of frosts in the Northwest, causing
selling of Western account, there were
further recessions in almost everything
traded in The Wheeling IL Lake Erie and
the Chesapeake Ohio stocks were specially
prominent for strength, however, and the
latter made material advances on buying
supposed to be for insiders.
The selling of theGrangers by their former
principal supporters and of Union Pacific by
the Foreigners encouraged the local bear ele-
ment, and they hammered the list all along
the line. The reactions were in no case or
Importance until the last hour, when the
losses In the Vanderbilts were largely made
up, Canada Southern rising over per cen.
over its lowest figures. The dealings III the
industrials were of no Importance. The
market continued to settle away slowly in
most stocks, but rapidly enough in the lead
ers until the last few minutes trading, when
the usual attempt TO cover by room traders
resulted in a small rally, and the close was
quiet but firm at the recoveries from the
lowest points.
The active list shows invariable losses with
Rock Island and Reading down 1l2; Bur
lfngton and Canada Southern 1ls; St'Paul
and Missouri Pacific ~; Northern Pacific
Atchison and New England per cent. Rail-
road bonds also showed a loss in interest
and while there was large number OF issues
traded in, the total transactions were materi-
ally smaller than those Of the last few DAYS
The tone OF the market was heavy to weak
and many of the active bonds scored i'm
portant losses as the result of the days oper-
ations Total sales, Sl,10S,000. Government
bonds have been dull and easier. State bonds
have been dull and steady.
The Post says: The Granger stocks were
naturally the principal points of weakness
and i'll the last two hours all the supporting
orders which had served to bring about the
brief rallies Of the forenoon seemed to be
withdrawn. Transactions grew at once TO
considerable magnitude, and from their
source may fairly be inferred to have been
realizing sales. While the Changers supplied
hTNll- ~ fhn hfncT fEarv fnfr
in the decline. The bears met with success
even in stocks like New England, Louisville
and Canada Southern, which have no pos
sible connection with the corn crop. In
Union Pacific, on the contrary, there were
signs all through the afternoon of buying on
he decline to cover shorts.