St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-24
FINANCIAL.
New York.

New YORK. March 23.-The trade in the
stock market today lost none of It's profess
sional character, and the market continued
as narrow as usual of late, the momentary
prominence of grangerS and oilers COM
petely subsiding. Reading, Lake Shore and
New England were the only ones which held
their own against the leaders, but their rela-
tive importance i'll the market diminished as
the day wore along.
Sugar was bought in q cautious manner
and the improvement in the price was small,
but the influence upon the other industrials
was most pronounced, and especially on the
cordage stocks and Chicago Gas. New Eng
land and Lake Shore were conspicuous for
their early strength, while the coal stocks
were inclined to droop. but their positions
were afterward reversed and a sharp reac-
ton i'll Lake Shore was followed by a com
plete recovery i'll Reading, after which the
dealings in the last-named became small as
those of the rest of the list.
Realizations checked the advance in both
Sugar and Lake Shore. and as the traders
were again inclined to take the short side o
the market, dropping tendency was given
to the whole list IN the early operations.
though the fluctuations were insignificant
except in the few leading stocks. The
strength of the industrjals had some effect to
rally the general list toward noon, but the
persistent realization IN Reading Lake Shore
and later in Northern Pacific preferred,
which became the weak feature, for time
induced further putting out of short con-
tracts by the traders, and the afternoon was
wound up by vigorous attack by the bears
upon the entire list when the stocks which
had recently had the most marked advances
were shining marks for depression.
Lake Shore fell away 212 per cent, North
ern Pacific preferred ga and other smaller
amounts, while even Sugar lost all of Its
early advance, retiring again below par
There was no change in the temper of the
market i'll the last hour, and the pressure
was maintained right up to the last sale, the
market closing active and weak at the lowest
prices of the day The only advances scored
were in the industrials, and Cordags is up 2Ss,
the preferred l35 and Chicago Gas Il "a, while
Northern Pacific preferred lost 278, Lake
Shore 2. Jersey Central 1I2, Missouri Pacinc
11s and Michigan Central per cent.
The Post says: 1.-THE kind of news which
is'served up with great effect just now to
influence prices may be best judged by brief
review. News has accompanied every note
worthy market movement during the week,
and its details may be thus summed up:
The silver bill will pass, the silver bill will
be- defeated; Gov Albeit will sign the Read
ing deal bill; Gov. Albeit will not sign the
Reading deal bill; the sugar company has
bought out Spreckels; the sugar company
has not bought out Spreckels: all of these
LET it be observed, were assertions Of facts,
regarding which the rumor monger could
have had no knowledge whatever, with the
possible, but not probable. exception of the
brace Of rumors last mentioned. m5rket
which runs wild at spasmodic intervals over
such nonsense as all this is obviously past
human calculation for the time being
Total Sales of Stocks