St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-05-12
FINANCIAL.
New York.

New York, May 1.-THE stock market to-
day began the new week with more activity
than usual of late, which reached almost
everything traded in and caused advances
which left the list materially higher then
the closing OF last week. The adyices from
abroad over Sunday were not such as to
give much encouragement to buy stocks
but beyond some bear pressure to sell there
was no disposition of consequence shown
holders this morning to part with their stocks
ana the early weakness may be attributed
entirely to the efforts of the reactionists
The declining tendency in the early deal
ings was materially helped also by the weak
ness in the industrials and especially in
Cordage and Chicago Gas. The downward
movement III the former was helped by the
publication of an article showing that
most of the manufacturers of cordage are
outside of the trust, and the price of the
stock, unsupported by the manipulators fell
away to ", after selling at 1918 last week
Chicago Gas showed less weakness. and its
loss was smaller London came in as a nuver
of stocks. however, the purchases being ac-
compauled by assurances that Russia would
do nothing more to disturb the financial stu
alton IN Europe. This encouraged the bulls
again, and they showed their hand in the aft
ernoon by buying stocks all along the line.
the business done being larger than for
~many days, and the improvements in
prices most important. The shorts were
driven to cover in many of the leading
shares. the grangers, Louisville Missouri
Pacific, Wheeling d Lake Erie and some
specialties showing marked strength. The
market gave every appearance OF having
turned bullish again. and the buving was of
the most excellent character in all the stocks
mentioned while even the weak stocks of the
forenoon rallied and closed higher, with the
exception of Cordage. The opening prices
were irregularly changed from those of last
Saturday, and the early losses in the regular
list were confined to fractional amounts
with the exception of Chicago Gas which
lost 1l2 per cent. The advance from the low
est figures reached per cent. and the up
ward movement met no check during the
day. the final figures being at or about the
highest. The feeling at the close of business
are much better, and the bulls are again con-
tident of further advance i'll prices. small
engagement of gold for export had no in
huence upon prices. ana, Notwithstanding
the rumors of political and financial diff
culties in Europe, operators are inclined to
| believe that the outward movement OF gold
has reached its elimination. The market
finally closed active and strong at the best
prices of the day. The final changes are al
most invariably fractional advances, but st.
Paul is I'D III, and Rock Island. Burling-
ton, Louisville and Union Pacific each
rs while C1rdage is down Us
paratiyely quiet, and shared not at
all i'll the strength shown in the
stocks, and though few OF the more active
issues are higher, all the important changes
done reached only S1,070000, and on a we'll
distributed business Government bonds
dull and steady. State bonds have been dull
and steady. Petroleum opened steady but
after slight advance in the forenoon, fell
lac in small sales then became dull ana re-
manned so until the close, Pennsylvania oil
spot closing, re. June option, opening, 717sc;
highest, re; lowest, 7lSsc; closing. 7lssc
Lima oil, closing, l9c. Total sales, $4,000 bbls.
The Post says The lowest prices made this
year were generally in January and March
From these there was an advance averaging
II points on the fifteen most active stocks
though the highest prices were made from
about April % 10 about May ). From these
! high prices there has been an average decline