St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-01-07
FINANCIAL.
New York.

New YORK. Jan. 6.-The stock market
was active today and. while material ad-
vances were scored in some Stocks the gen
eral list as rule was held within narrow
limits. and the final changes are insignificant
Nearly all the prominent commission houses
are reporting larger orders to buy from out
siders for both investment and speculative
account and the fact that the market has of
late advanced steadily, and not by rapid
spurts, gives confidence that it is stable and
strong market. with every confidence of still
better progress.
1oday's transactions, however. were of a
character that might be the result Of gen
eral agreement to let the situation remain
quiet, and while a few of the room traders
still hammered away in their efforts to bring
about material reaction, their efforts were
or little avail. The decreasing volume of
business indicates, il anything, that there is
less new buying; but the later realizations.
which have been very large, have failed to
cause any setback, and the advocates of
higher figures therefore still MAINTAIN their
confidence.
The industrials were of great effect in re-
straining sellers, end, the shorts are still una
bic to cover at profit or even to get out
even. The movement i'll Louisville, New
Albany & Chicago was continued, and it re-
tanned its place as one of the active shares
and late movement in Louisville & Nash
vile attracted some attention. Richmond q
West Point was active and strong, but the
movement III the bonds was not fully re-
sponded to. Among the other priced
stocks which showed.great strength were Sus.
quehana & Western preferred and Iowa Cen
trail preferred.
The opening of the general list was active,
but at irregular changes. while London was
considerable of a seller. though buying or
ders from that center afterward appeared in
the market general fractional depression
was followed by partial rally, but prices as
q rule were kept below the level of the OPEN
ing figures until the last hour when new
strength was infused into the market and
general advance wiped out most of the early
losses. The close was active and strong gen.
orally at insignificant changes for the day,
but while Lake Shore was down per cent on
very light transactions. c.. c. G. d st. Louis
is up point, Rock Island Us ,Distileries 15s,
and Cordage 276.
The Post says: What has apparently saved
the market prospect this week is exactly
what protected it from the bear attacks in
December. The upward movement has tort
unately been built on stronger foundation
than traders ventures. The stock whose DUR
chase caused the December advance is not at
all likely to come on the market. As for the
long stock accumulated since the profess
sional contingent in the last week of Decem-
Der Joined the bull ranks, some of it has al
ready been sold TO take profits, and what
will happen with the rest nobody can safely
predict Cnquestionably much Of it is linn
tied by stop orders, and it is in search of
hammering the market here and there since
yesterday morning. On the whole their sue
cess has not been proportioned to their eff
forts.
Total Sales of Stocks
today were 450, Az shares, including:
Atchison ...... 13, 965 Nor. Pacific pfd IA, $50
Chicago Gas. 80. q, 075 New England. 81, :}6O
Erie II ,290I Rich. & W. Point 46 els
Kansas & Texas. 5,257 st. Paul ....... 5000