St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-28
FINANCIAL.
New York.

NEW YORK, Aug. 27-The stock market
was not so active to-day, especially in the
afternoon, and displayed in the main reac-
tiouarY temper under heavy realiZations. and
prices ruled almost throughout the day at a
slightly lower level than those of last even
ing. The efforts for reaction were made
with more confidence this morning as Lon
don was again seller OF stocks everything
except Union Pacific, among the favOrites of
that being among the stocks disposed and re-
ports of frost in the far Northwest came i'll to
help the bearish sentiment among the traders.
Prices were higher at the opening, bat the
pressure brought 10 bear was was at last sue
ceSsful in forcing prices below the opening
The bulliSh sentiment III the street. how
ever, remains unfmpaired, and the extremely
stubborn resistance shown by prices TO Ie
act. even under the most discouraging cir
cumstances, shows that the present move
ment is based on tirmer foundation than
any upward movement within the last two
years. Commission people report q steadily
growing interest i'll the market, and the in
creased inquiry is seen i'll the widening of
the market and the extension of the trans
actions 10 a large number of stocks which
have lain dormant for months. The bust
ness of to-day and yesterday was more widely
distributed than that of any day for the last
year, the number of stocks dealt in reaching
about rs. Another encouraging sign for the
market is the comparatively insgnificance of
the dealings in the unlisted department, the
incubus of the manipulation of those prop
critics being removed from the market gives
legitimate securities a chance 10 reach their
proper level.
The effects of the frosts in the West were
not of material consequence. and the decline
in prices went further than fractions, al
though a few stocks here and there included,
because of pressure or other circumstances.
The industrials were more active. and all
were helped by special circumstances. Sugar
being strong in the reported deal with the
opposition refneries. Lead because of the
lack of opposition to the reorganization
scheme at the meeting, and cOrdage con
tinued its reaction from its late depression
There were frequent changes during the
day. The merket finally closed only fairly
active and heavy to weak. The trading
reached 246,S50. Railroad bonds were not
so active, and were rather inclined to follow
the share list downward. though few weak
spots were seen. Among the most important
advances Hooking Valley skies rose 21s gov
ernments were dull and steady; state bonds
dull and steady.
The Post says: The inclination to realize
which showed itself strongly Yesterday, but
was met by an even stronger disposition to
acquire stocks, continued to-day with more
effect. Spectators working for a decline
were probably aided, in the case of stocks OF
roads closely interested in the traffic of the
corn belt by the continued reports of frost
in the Northwest.
The special reason for the strength Of the
Chesapeake and Ohio was the reported ac-
QUESTION by that road of the Ohio and Mis-
sissppi on which, it is understood, to
long have had its eye. a virtual alliance it
was asserted, had gone into effect