St. Paul daily globe., 1892-01-05
FINANCIAL.
New York.

New YORK. JAM 4.-The opening today.
considered either from business point of
view, or from the standpoint of its increase
in values, was most auspiciOus. The market
was broader and more active, if not stronger,
than on any day since the present rise be-
gan, the business done being the largest
since the Barring failure precipitated the
great selling movement. Brokers reported
that commission orders to buy stocks were
coming in froE, all quarters, and that in
connection with today's market, led them
into predictions that 1892 VIII witness the
greatest advance in prices that Wall street
has ever seen.
The feeling was undoubtedly very bullish
and the sales undoubtedly resulted in in
creasing the short interest without depress-
ing prices or even checking the upward
movement to any extent. The low priced
shares were not quite so prominent in the
dealings as On Saturday, but there were many
marked movements among them, which were
OverShadOwed by the more important trans
actions Ill the leading stocks
Among the most prominent stocks today
were Missouri Pacific, Atchison. Reading,
New England, and the Wheeling q Lake
Erie and Louisville, New Albany & Chicago
New England was the most prominent stock
of the day, not only scoring the largest rise
but fairly taking the lead in the advance,
though its marked gain is not to be accounted
for by any new Developments in re-
being inexplicable, as usual. On the
other hand. the Wheeling q Lake
Erie shares were strong on the announce
ment tnat the Investments held by that com
pany would show an increased income in
1892 of about $125.000 over that of last year
Independent of the general increase of the
business of the road. The common reached
40 and the preferred crossed 81, the highest
prices they have yet attained.
Reading and Atchision followed New Eng
land in point OF activity, but only the former
displayed any marked strength. while Mis-
souri, Pacific, whose business was only mod
81
talk on the part of the Gould following and
ROCK Island on the report that the stock will
be taken care Of by new pool under the
leadership of James A. Keene. Among the
low-priced shares Louisville. New Albany &
Chicago was very prominent and it is now
being bought on the official announcement
that all the low stock of the company has
been sold and that the new equipment of
the road will increase the net earnings in
1892 by a quarter of million dollars
The trading in the general list was very
wide and evenly distributed. and prices were
in almost all cases advanced fractionally
Notwithstanding that there were heavy reaii-
cations throughout the day; and the pressure
by the short sellers, and especially in the late
dealings, showed some concessions in
values.
The new lead stocks were also weak point
i'll the market but seemed to have no appar-
ent effect npon the other industrials. Among
the specialties. Citizens Gas was the only
one to make any special Improvement, but
all were strong aud shared in the general o.
ward movement in the list The market
finally closed fairly firm and still very active
after considerable concession in values dur
ing the last hour.
The Post says: ''As was naturally to be
| expected after the excited movement in the
industrial shares Saturday, the stock market
opened today with feeling of hesitation
and continued all day to display features
which make up a mixed market All indi-
cations today showed that the market was
thoroughly under control OF the bull leaders.
New England stock. for instance, was pur-
chased with unflagging persstency by it's
| pool supporters, while the more or less in
comprehensive bull points, such as have
for years accompanied advances in this sin
gular feature of speculation, were supplied
with redoubled industry. sure enough sign
hat the pool is aboat to take its own profits
n the dead. Missouri Paci fc too, was
ken i'll hand by the bul manipul ators."
Total Sales of Stocks