St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-02-13
WALL STREET SLOW.
Whisky Trust Falls Off Oh Ac-
count Of u Dynamite Scare.

NEW YORK Feb 12-The stock market to-
day was inclined to be heavy. though display
ing firm undertone throughout the fore
noon, but later in the day gave way materi-
ally under pressure of short sales and closed
lower. The room was inclined to the bear
side, however, and nearly all the room trad
ers were found on that side before the end of
the day, and, as might be expected, the
street was filled with rumors of assertions
from the bull side of influential men, but
the transactions, Notwithstanding the mater
ial losses scored in few stocks, gave no in
dication of any amount OF long STOCK coming
upon the market. The speculation is still
extremely narrow, and support is not ap
parent except when it may be specially
needed and while there is no disposition to
throw over lines accum ulated even at lower
prices. the market has been allowed to drift
into dizziness. To-day these conditions in
clined the traders to take the short side, as
there seemed no longer any chance of max
ing a turn on the long side. and Bur
lington was selected as the object of
demonstration, and was sud down 1l8
per cent in the first hour. The exposure of
the dynamite plot by officers of the whisky
trust was also the occasion of drive at that
stock, and it yielded ia at the same time.
These concessions. however, failed to drag
the rest of the list with them, and by noon
full recovery had been made. At this
juncture the announcement was made that
81, 100000 gold had been ordered for export.
and Immediately drive was made al all the
leading active stocks, which mad the effect
of depressing their prices from l to 1l2 per
cent. Later, however it was seen that the
shipment at the ruling rates for exchange
was made at O loss. ard the pressure was
Withdrawn as suddenly as it had been APP
piled, but the market remained stagnant at
the depression. The bears raided most of the
leading shares, including Western Union,
and attempted 10 extend the drive to other
Gould stocks, but found Missouri Pacific so
strongly supported that they were unable to
make any impression upon it. The down
ward movement had come completely to
standstill before delivery hour, and the
traders began to cover in the last hour, with
the effect of causing a slight rally in the
final dealings. The market developed
no special feature whatever, and the close
was dull and firm at something
better than the lowest prices. The final
changes are all in the direction of lower
prices, however, and Sugar receipts lost ia ;
Lake Shore, IA Louisville q Nashville,
which was also affected by the resignation of
President Norton, 1ls ST. Paul and Wheeling
d Lake Erie preferred each 1 per cent, and
others fractional amounts. Railroad bonds
were quiet and sympathized closely with the
weakness in shares, though, as in stocks, the
important losses are in few issues only, the
changes in the general list being confined to
the smallest fractions. The trading extended
to 81, 100000. The important losses include Ce.
dar Falls firsts 2 at SO; New York d Northern
seconds, 3 at 4S: and union Pacific 412s Ia
at 70. Government bonds have been dull and
steady. State bonds have been entirely neg
lected. Petroleum was even duller than
usual to-day. The opening was steady, and
was followed by slow advance of 5s on a
few small buying orders from the West. The
close was dull but firm. Pennsylvania oil
spot opened at 1918; highest 1918; lowest,
79lsc; closing, 1918. March options opened
at 1912; highest, S0ls; lowest 79l2; closing,
s01s. Lima Oil, no sales. Total sales, 81 900
hills