St. Paul daily globe., 1892-09-10
FINANCIAL.
New York.

NEW YORK, Sept. 9.-The stock market was
again principally professional today. New
England became less prominent in the mar
ket, though there was no light thrown on
the intentions of the management. st. Paul
gave no response whatever 10 the declara-
ton of the dividend. and, while keeping
within the narrowest limits during the en-
tire day, was allowed to fall below 81, even
IN the face OF the strength displayed by the
other prominent stocks. The feeling in the
coal shares was better. and Jersey Central
was again pushed upon light transactions.
while Reading still led the list in point of
activity and gathered strength as the day
wore away.
The most prominent feature of the day
was the revival of interest IN Richmond &
West Point, some activity in it being accom-
panied by fractional advance. bnt like all
other movements during the day il was SPAS
modlc ana soon died away. Among the in
dustrials Distillers, General Electric, Lead
apd Sugar were paid most attention to, all
rising about per cent. but later sinking into
the general dullnesS and stagnation.
The opening was generally at lower figures
than those of last evening, but there was no
pressure to sell, even though foreign houses
were sellers and London quotations were
lower, and. while duilness and stagnation
early became the principal features of the
general market. the strength of the leaders
soon impaired a firm tone TO the whole list
Among the specialtieS which scored hand
some gains were Evansville Il Terre Haute,
which rose from 10 to Isl: Minneapolis 4
st. Louis preferred. and New York d North
ern preferred. The Gould stocks were promi-
nent in the early dealings for strength, but
later i'll the day all displayed weakness
Western Union in particular. The close,
however, considering the pressure. was
quiet but firm, with most stocks only slightly
changed from last night.
New YORK, Sept 9-Bradstreet says of the
New York stock market: Speculation has
recovered from the shock occasioned by the
no ff nhn
ers. But although acute fears on this score
have been modified. the same influence con-
tlnues to restrict stock trading, and has
thrown the market into the hands of the
professional operators. The interruption of
the country's export trade, the uncertainty
to which importers are now exposed, and
the tendency of the situation to bring fur
ther exports of gold, combine to keep the
public out of the street and to create fears
that liquidation is imminent.
Tbe action of the market after the break
of last week indicates, however. that stocks
are mainly in strong hands, and that the
hardening tendency of money has not yet
reached stage which would impel such in
terests TO throw down their loads. On the
contrary. the manipulation this week was
mainly bullish. and the ability of the bull
leaders TO advance prices Of the stocks they
take in hand, or to compel covering by the
short interest is apparently unimpaired.
Nevertheless, it is apparent that operations
of this kind are more decidedly more profes-
sional in character. and that the lack of ef-
fectve buying power limits their duration.
Europe has shown slight disposition to buy
stocks. but not to an extent which would
really affect the speculative situation
The holiday from Saturday last till Monday
apparently served to create less apprehen-
sive feeling, and bearish attempts to sell
prices down on Tuesday only laid the foun-
dation for a short interest. On the succeed
ing day the shorts were driven to cover by
well executed bull manipulation, the ad,
vantage thus gained being followed up
Thursday by upward movements i'll mum
ber of specialties. The incidents which
affected the troding were of varied charac.
ter. The bearish sentiment shown at the
opening of the week was based mainly on
the threatened outbreak of open hostllities
between the Pennsylvania and Reading sys-
TENS. of which the withdrawal of joint tariffs
by the latter system seemed To give indica-
ton.