St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-07-13
FINANCIAL.
New York.

NEW YORK, July notwithstanding the
plethora of funds awaiting investment in
the city, securities still languish, though
prices are well held. The silver agitation is
in all probability the most important of the
influences i'll creating this state of affairs
but the labor troubles in Pennsylvania and
the anti-option bill have also their effect in
lettering operations of a speculative or in
these issues and a harmonious meeting of
the Western Traffic association would I'M.
doubtedly do much toward restoring
confidence and relieving suspense. The
no change i'll its characteristics
and while there is undoubtedly a large
short interest by either the public or the
more influential operators throws the making
of prices into the hands of the professional
traders, who, in consequence of the prevail
ing duliness are bearishly inclined, though
quick to change their position OH the market
and cautious in their operations The fact
that the beginning Of the demand for funds
to move the crops finds the banks with a
surplus no larger than that of last year at
this time is also lettering factor in The sit
uation, but the crops are not as large and
prices are not as high, which would
indicate that there will be less
ago. The covering of shorts i'll the mean
time serves to support the market against the
limited pressure brought to bear in the ab-
sence of any special demand Only in q
few specialties like Manhattan, Northern
Pacific preferred and Lackawanna, were
their movements of more than per cent.
though the Reading securities. under heavy
buying, said to be for inside account, became
the feature of the dealings The fluctuations
were. in most cases. of no special significance.
The market finally closed very dull. but firm
to strong at the best prices Of the day. The
trading reached only 10S.327 listed, and 5,273
unlisted.
Railroad bonds were still very dull, and I'M
like stocks. failed to display any marked
tendency in either direction, though there
were few important changes ut the close
The only real feature of the day was the
sudden squirt il the Reading issues, accom-
panied by extraordinary heavy buying on the
deferring incomes, which furnished S407, 600
and the thirds Sl3S,000 out of the total of
81, $50, 600 for the gay.
Government bonds have been dull and
steady.
State bonds have been dull and steady
The petroleum market was fiat and unin-
teresting, opening steady and closing dull.
no fiuctuation occurring from the opening
none; August option sales. 1000 bbls at So;
Lima oil, no sales; total sales 1000 bbls.
The Post says: So far as the question of
our grain crops magnitude has been an ele-
ment of doubt in the financial situation, it
may be described now as practically settled.
So many adverse criticisms had been made
on the government wheat percentages in
June that a less favorable estimate in the sue
prise. But last Saturdays statement reported
improvement of nearly 1la per cent each in
spring and winter wheat, and conclusions
officially verified after a months lapse of
time are not likely to be impeached. The
forecast for the corn harvest is accepted as
reasonable and accurate. 1t may be assumed.
therefore, that a crop of 520,G000O0 blu Of
wheat, 1.690, O00, coo bu of corn and 650.000000
Blu oats fairly represent. barring accident of
premature frosts, the prospective harvest of
1891. These are very large yields, but they
are not, all told, within $40 000, 900 pu of last
years and it is probably fortunate that they
are not. The farmers. with their present sur
plus, Will have Gs much to sell as they could
expect to carry. A repetition of last years
crops would have been very far from an IN
mixed blessing
Total Sales of Stocks
today were $500 shaes, including:
Atchison :. ..... 1901 New England. :. e9s5
Erie .:.-..-.. 3,6le Reading. :. is 200
Louis. & Nash. IL, 700ISt. Paul 10,005
N. Pacific pfd... 6,9o0l Union Pacific. $500