St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-03
FINANCIAL.
New York.

New York, Feb. 1.-The dealings in the
stock market continue to show decreased
volume and the activity tends to restrict
itself for the present. London was a factor
in the market today during the morning
hours, and the selling was free in the special
ties in which that center is interested. and
while there was a suspicion that the lower
figures sent from London before the opening
here were rugged from this side of the water,
il seemed to have no immediate influence on
the speculation.
Later in the day the covering of the shorts
became more pronounced, but all through
the day the buying was seen 10 be
of a much better character than the
selling and with the professionals ranged
OH the side of lower figures and investors on
the other, aided by the scare of the shorts,
there was decidedly strong temper devel-
oped in the final trading. The feature oft the
late rise was Western Union, which continued
its advance with constantly increasing bust
ness. and at the close it was the most active
stock on the list. The buying was believed
to be stimulated by the insiders. and this fact
had much to do with the strength of the gen
eral list at the time, though in none was the
movement of special significance.
The selling of Louisville & Nashville in the
forenoon did not assume large proportions
and the impression made on the stock was
no greater than that i'll any other part of the
market, the concessions under the free COW
ering beiEg alike in all cases. The demand
at the loan crowd was very marked
and the selling at the. opening was
seen to be Tor the purpose of buying stocks
in different portions of the list so that the
temper so changed for the better, and W lille
the advances in the forenoon were slight in
all cases except Distilers', which was sud-
denly advanced per cent and as quickly let
off over per cent, the movements i'll this
stock, however. failed to affect the rest of
the market and the other 1ndustrials we're
strong, Sugar rising per cent on small
transactions.
AS the afternoon wore along the selling be-
into dizziness, which at one time became
quite oppressive, The last hour was marked
by awakening OF new demands. The de-
mand saw no abatement up 10 the final sales
and the market closed fairly active and
strong at the best figures. Western Union
shows Il gain of , per cent. Distilers 15S and
Sugar ~ while other changes are in most
cases fractional gains.
The Post says: The only really noteworthy
movement in any standard stock during the
forenoon was in L. d. N, which 1.-The bears
were handling in very gipgerly fashion. and
which advanced materially on the receipt of
a few buying orders. The caution Of the
bear leaders here arose from their absolute
failure to catch stop orders in the course of
their experimental attacks on prices. In the
afternoon they gave up the attempt, and left
the market to rally. A demonstration of
great strength in Western Union late in the
afternoon stirred the general market into
increased activity. There were various eX-
plantations for this sudden advance i'll West
ern Union but the chief cause was easily
found in the prompt support given to any
dividend paying stock the moment it shows
activity. Outside Of Western Union the re-
covery in the general market was slight.