St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-19
Merchants National Bank F.!
ST. PAUL, MINI.
Capital, $1,000, 600
Surpius& Undivided 800, 900
". r. MERRIAM. President.
{. II. BIGELOW, Vice Presiden.
7 A. SEYMOUR, Cashier.
GkO. Z. POWER, Asst. Cashles
DIRECTORS.
FINANCIAL.


NEW YORK. Aug 1S.-The stock market
to-day was again active and strong, with an
unmistakable broadening tendency, and ma
terally higher figures were reached in every
thing on the list, and this is in the face of
heavy realizations and the strenuous efforts
of the bears to prevent any further advances
in prices. There was large party who al
ready think that the rise has attained suffi-
GENTLY large proportions, and hthat many
stocks have been advanced too rapidly. and
therefore favor a reaction, but the new buy
ing in the market is of such proportions that
against the selling to realize, that OF the
bears and for outside centers. including Lon
don, the market still advances. To-day at
least there appeared to be large buying or
ders at all concessions, and the upward
movement made steady progress.
The relative Importance ut present OF the
Union Pacific affair was seen in the steadily
diminishing volume of business in that stock,
although all the Gould shares were still slug
gish and feverish. Atchson was again tn e
leader i'll point of activity, while Louisville
d Nashville still led the upward movement.
closely followed By Rock Island. The West
ern operators confined themselves entirely
to the Western stocks and the interest in the
movements of the grangers was greater than
in that Of any other group OF stocks on the
list. and while everything shared in the gen
eral advance. the important movements were
confined to those stocks. There were few
sharp advances. as usual, among the low
priced specialties Buffalo, Rochester &
PlItSDufg ana RlttSDurg az western pre-
ferred being most conspicuous, but the in
dustiials were quite neglected with the one
exception OF Chicago Gas. which in the early
trading was specially strong.
The news from the meeting of the direct
ors and creditors of the Union Pacific was
'reassuring. ana while that stock failed to
answer until late in the day, the general list
crept up from to = per cent with specially
sharp gains in few low-priced shares.
After the announcement of the arrang ement
agreed upon, by which the floating debt of
the Union Pacific is to be taken care of, there
was selling movement in that stock, which
wiped out allCof.. its advance, and real
izations in 1.-THE general list became more
abundant, and prices yielded all along the
line, the last hour being marked by a steady
though slow decline This downward move
ment which was helped by the efforts of the
traders TO bring about a reaction, was suffi-
Client in many cases to entirely wipe out the
early gains, and many of the active stocks
actually closed lower than last evening.
The trading in railroad bonds was again
most gratifyingly large, and the temper of the
market remained decidedly strong through
out sympathy with the late decline in stocks
being shown. The active bonds are almost
invariably higher and many material gains
were made during the day. The transactions
foot up 81, 10000. Burlington convertibles
rose pa; Western, New York and Pennsyl-
vania seconds per cent Government bonds
have been dull and steady. State bonds
have been entirely neglected.