St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-01-27
FINANCIAL.
New York.

NEW YORK. Jan. 26.-The stock market
was still under the influence of the Gillian
matter, but its effect was on the side Of the
bulls today, and while the transactions con
timed to show their professional character
there was wide distribution of the business
done and the whole list shared in the i'm
provement made. The dispatch published
this morning. indicating complete back
down by the Gillian government from its
previous position, took the wind out of the
sails of the war party, and they were as eager
to buy this morning as they were to sell for
the last few days.
in London before the opening of this market,
prices there were materially higher, and the
foreign houses were bidders against the
shorts in the early trading. As consequence
the first sales here were made at materially
higher figures than the close of last night,
and AMONG the active stocks those which
opened at less than per cent better were eX-
ceptional. Lackawanna and Cincinnati
Cleveland, Columbus & ST. Louis were up
1ss per cent.
The sharp advance naturally brought a
large amount Of stock in the market, but the
demand was so urgent that all offerings were
absorbed, and while the first few minutes
saw some concessions from the opening
prices the upward movement soon made
Roadway. and prices all along the line were
placed on materially higher plane. The
stocks which possessed international value
were naturally the leaders in the early move
ment but later the clique which has Lacka-
wanna i'll hand forced it to the front and
trading in the stock assumed large proper
tons and its advance was rapid.
The indications that the advance Is
movement against the shorts were as con-
spicuous as usual. while the loaning rates
later in the day were easier, indicating some
reduction i'll the outstanding short interest
The price, however, was run up to 1868,
close to the best price Reading was active
in sympathy, and under the buying by the
Western operators the grangers were promi-
nent in the market throughout the day. The
strength in Omaha was again noticeable and
Manhattan continued its advance, keeping
pace with Lackawanna in the upward move
ment, and Consolidated Gas joined in the
procession late in the day. Louisville was
conspicuous in the afternoon, and it finally
closed with a slight loss for the day, being
in this respect quite exceptional.
The market finally closed active and firm
at or near the best figures. Among the more
important gains Lackawanna rose 3ss Man.
haitian like amount, Consolidated Cas- .
per cent; Rock Island. ia ; c., c., c. & st. L.,
Burlington. Missouri Pacific. each 1ss; st.
Paul & Omaha, Il2; Northwestern, 1Ss, and
others smaller amounts.
The Post says: With intervals Of dullness,
throughout the day. This was largely due
to the discovery that outside buying orders
of very unusual character have been exc
cuted on the late reaction. There is reason
to believe that an amount Of institution
money, larger than has been supposed has
been and is being invested in the stock mar
ket. This is corSpicuously true of Lacka
wanna stock, but must have been true of
other dividend payers as well.
If these reports are at all we'll founded, the
purchases are most effectively taken out of
the market and furnish q solid foundation
for efforts at further advance in prices.
There was little discrimination in the sup
port of stocks today. though Lackawanna,
Manhattan and Missouri Pacific held the
lead. There was, OF course, some reaction in
the market during the later afternoon, early
profits, but the underlying strength was
little impaired.
Total Sales of Stocks
today were 425, $50 shares, including: