St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-05-11

NEW YORK, May 10.-The stock market to-
day exhibited considerable irregularity, but
while there was liquidation in spots and u
few stocks were Kept under the hammer, the
general list as Il rule displayed firm temper
throughout most of the session. though ma
terial changes in quotations were, as usual,
confined to few stocks only. Northern Pa
eitic preferred was the one stock upon which
the bear efforts were concentrated, and some
measure of success attended their drives at 1t,
while it was rendered for some time the
most active stock on the list
The downward movement in this stock
was aided to some extent by realizations
upon the shares which have of late shown
extraordinary strength, and Omaha and
Hooking Valley were specially conspicuous
III this respect. the latter yielding readily.
though the former was more firmly held. Of
the Industrials, Edison and Distillers, with
Laclede Gas, were specially strong, but
among the inactive railroad stocks some
equally wide advances were made, Pullman
| rising above 90 and Buffalo. Rochester IL
| Pittsburg, Mobile & Ohio and one or two
others being specially conspicuous. The
movement under covering of shorts spread
| TO the general list in the afternoon, but the
| changes Ill quotations were still confined TO
| the smallest fractions. and no material
progress was made.
A more hopeful feeling in regard TO the
| crops took possession Of the street and buy
| ing was Dolder, developing considerable
| animation for time. RealiZations marked
| the trading IN the last, however and the
pressure upon Northern Pacific preferred
was again brought to bear with the effect of
| sagging prices away again IN some stocks
I and while the close was generally firm on a
fairly active business, the final prices were
i irregular and only slightly changed from
| those of last evening in the great majority of
stocks. The only important change was the
loss of ia in Northern Pacific preferred
among the active stocks, but Pullman rose
| ga. Mobile d Ohio Pig and Buffalo,
Rochester d PittSburg2A per cent.
The stock exchange clearing house will
| begin operations on May II. the centennial
of the stock exchange. The stocks selected
! for clearing are ST. Paul. Reading, Louis
| vile d Nashville and Northern Pacific pre-
| ferred.
| The Post says: The equanimity with
| which the market receives current crop esti
! mates is a further testimony to the general
| confidence i'll the outlook for railroad traffic.
Tine indications that the cotton crop, for in
stance, will be relatively small, are received
with something like qualification. 1t is
understood that here is a formidable econ
! omlc problem working out its own solution.
In the case of the cereal crops the s:tua-
ton is not altogether different. Another
wheat and corn crop as large as last years
might bring upon the Western farmers some-
thing of the very trouble that has lately con-
fronted the Southern planters. This would
be especially true if Europe's grain yield
were to be bountiful in 1892.
OF course, a really deficient crop would
have unfortunate results; put no predictions
are yet justified to that effect. The point of
chief interest in the situation is the totally
different basis on which this crop year opens
as compared with a year ago. The present
stock market prices, in their advance over
the level of last spring are now pretty safe
exponent of the situation.