St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-27
FINANCIAL.
New York.

NEW YORK. Feb. 26-The stock market re-
mains almost utterly barren of any feature of
interest. TO this end the beginning of the
outward movement of gold contributes not a
little; even the traders, until the full effect
of the movement is developed or some new
excitement arises, are unwilling to make any
important ventures OH either side of the &C.
count. Outsiders seem for the time being 10
nave entirely Withdrawn from the market,
and once again the professional element is
in control of the changes in quotations from
day to day; and Being bearishly inclined dur
ing the dull period. are only prevented from
making vigorous raids by the uncertainty of
the situation and the very stubborn way in
which securities are held.
The stagnation today surpassed that of any
DAY since last summer, and the few stocks
IN which there was speculative trading, such
as Chicago Gas, Reading, New England.
Atchison and Cordage, could scarcely be
called active. Liquidation III these stocks has
ceased, and the weakness apparent at times
must be attributed entirely TO bearish oper-
atoms on the part of the trades. while the
general list is almost entirely neglected.
After firm opening today prices in some
but even among the specialties there was no
material change in quotations during the
forenoon. Later in the day prices sagged in
the dizziness, but the announcement of
the New England financial plan
somewhat higher plane. which received no
response from the general market until the
last hour, when some covering of shorts
infused momentary animation into the
market and led to slightly higher figures all
around. After New England, Reading
showed most strength in this movement but
the only gain for the day was in Cordage.
which was suddenly moved up from OBJ to
93A, most of which was retained at the close
Chicago Cas- however. was both active and
strong throughout the day, and, while the
movement was slow, it reached material pro-
portions before the end of the session. The
close was dull but firm, with most stocks at
insignificant changes from the opening
prices. The only changes of note were adj
yances, however, Cordage and Chicago Gas
rising "a each, and New England "a.
The Post says: The entire lack of activity
on the part OF the bear leaders encouraged
the professional bulls to take the market in
hand this afternoon, with considerable sue.
cess. OF course on limited and entirely pro.
fessiona! market The reported compromise
OF the Reading with the independent pro-
ducers was used as the central bull point
and the alleged plans for an international
silver conference furnished another The
hrst is undoubtedly, if true, an important de-
Velopment though the query is becoming
more general with every fresh guarantee"
by the Reading company: who is to stand
guarantee for the Reading itse!f?'' Regard
Ing the market, which was strong until the
return of dizziness and dropping prices in the
last few minutes, 1t is probable that the pro-
fessional buying was Influenced in part by
the idea that strong market will be created
next week on which to launch the Richmond
Terminal plan. This remains to be seen.