St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-26
FINANCIAL.
New York.

New YORK Feb. 25.-There was very little
in the stock market today, and with the trad
ing almost entirely professional, none was of
a character to influence prices either way.
The list, as rule, was dull and istless. with
small fluctuations and periods of stagnation.
The traders were more bullishly inclined. but
no buying of Importance appeared, and,
while arbltrage brokers were again buyers. it
is well understood that their purchases or
sales at present have no significance.
The leaders paid special attention to Dis
tillers for time and it advanced materially,
Lackawanna, OH very limited offerings, fol-
lowing. Among the specialties Lake Erie &
Western was active, but only firm, while
Iowa preferred spurted up 3I2 per cent on
very limited dealings. Among the industrials
Chicago Gas was still under the hammer this
morning, but it yielded only fraction, and
afterward regained the loss, though it's price
is now on a materially lower plane than q
week ago.
Activity was to be seen only in Reading,
st, Paul, Northern Pacific preferred, Louis
vile d Nashville, of the usually active list
proved to be the one weak point in the mar
ket. declining steadily throughout the fore
noon and portion of the afternoon and
scoring loss of over per cent. Tho Van
derbilt stocks were remarkable as of late for
their dizziness. which was specially marked
in the Lake Shore. The general list opened
with small gains, and during the greater por.
ton of the day advanced slowly without
IndLerlal cQdNSe, anu aIter the announce
ment of another engagement of gold for ex-
port the bears succeeded in raiding some
stocks to below the opening prices.
In this decline New England, N orthern Pa
cific preferred and Reading were the most
prominent, but material concessions were
seen, and, no long stocks coming out, the
raid came to a sudden end. and the ANNA
ton induced by it quickly subsidized, while
prices again rose, the market resumidg it's
firm temper. The market closed dull and
firm, generally at small fractional advances
over last nights prices The only changes of
note were advances of 1l2 in Edison and l
per cent in Lake Erie Western, while New
England lost per cent.
The Post says: Another half million of
gold was ordered today for export somewhat
earlier than had been expected. This may
represent merely the completion of single
large order placed last week, but the fact is
that actual exchange rates stiffened against
today before the close.
1t is useless, however, to speak confidently
on this point. The interesting fact in the
situation is that the reduction in exchange.
largely to purchases of American securities
by London in the last three days. That these
purchases have actually unbalanced current
sales for the same account will not readily be
believed, and the latter moe in sterling sill
yer today indicated the contrary. Yet the
turn must come some time. London liquida.
ton in s'Americans'' cannot go on forever.
Perhaps a crumb of comfort may be derived
from the fact that foreigners have shown q
disposition TO sell, chiefly on exaggerated ad-
vances in prices, and hence may suspend
their unloading when the market reaches q
normal level.