St. Paul daily globe., 1892-03-02
FINANCIAL.
New York.

! NEW YORK, March 1.-The stock market
today failed to display either the animation
or the strength of yesterday, and While real
izations were heavy in the stocks which have
had the greatest advance of late, there was
no lack of short sales to give the downward
movement character and impetus. The
leading feature of the market today was
New England, and while. as usual, its move
ments are not accounted for bv any published
change either i'll its management. its finances
or its prospects, there were no lack
of rumors afloat looking to that end. Its ad-
vance over its last price Yesterday was very
substantial, and most of the improve ment
was retained at the close.
The only other feature in the market
worthy of note was the increased animation
and strength i'll the Vanderbilt stocks in the
afternoon, and rumOr still connects the man.
agement of these properties with the sup
posed new deal with Delaware & Hudson.
despite the repeated and official denials. The
most pronounced movement in them, how
ever. was in Michigan Central, which
emerged for the time being from the most ut
ter oblivion to lead the list in strength, rising
per cent TO 1104. followed later by Lake
Shore, which forced up to 1874 on larger
business than has been seen in some time in
that stock The Coalers were the weak
points, and the reactions from the high
figures attained yesterday were heavy, but
not by any means TO be compared with their
late gains.
The general list opened at insignificant
CuauBtS IFOu laSt lllSuI . pIlCeS, DuI UO-
veloped weak temper, which gave way to a
fractional advance under the influence OF
the strength in New England; but later there
was general decline and prices remained
for the rest of the day below the level Of first
figures. The strength in the Vanderbilts
seemed to have 10 influence upon the rest
in the afternoon. and the market finally
closed quiet and heavy at fractional losses
for the day. Jersey Central is down l and
Lackawanna 1s4, but Delaware & Hudson,
after some wide fluctuations. closed un-
narrow limits throughout the day. On the
other hand, New England is up /, Lake
Shore 2lS and Michigan Central 3 per cent.
The Post says: What today's early market
revealed, so far as it revealed anything posi-
lively. was the desperate cropping of the
traders to get their hands on these incipient
combinations. The professional community
was left SO pitiably out in the cold during
the Reading deal that they are leaving no
nook unexplored for traces of the mex tsen-
sation. Yesterday they scrambled eagerly
latest New England mystery was then be-
leved to rest. Today that scent was cold.
The chase turned abruptly to the Vanderbilt
stocks, aud little but selling orders was left in
Delaware & Hudson and Lackawanna. This
was the whole story of the market Else
where there was only stagnation grow
ing into positive weakness as the
day went on. London sold moderately, and
some of Yesterdays buyers realized, which
occasioned a gradual decline. Chicago Gas
had its own peculiar troubles in the news of
the day, and the inside manufacturers of Su-
gar trust quotations were busy. There was
not sign of outside buying anywhere, and
all spirit had died out of the market hours
before the close.