St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-10-01
FINANCIAL.
Rev YOplz.

New YORK Sept 30 1.-The stock market to-
day was as narrow as usual. but the anima-
ton infused into few stocks by buying for
the account OF outside spectators gave the
market the active and strong appearance,
and in the few stocks which were largely
traded in substantial movements occurred.
New England again assumed 4 commanding
position III the market under heavy buying,
which was believed 70 be partly for Boston
and partly for Chicago account, and, while
there was nothing definite revealed to show
the basis of this confident demand for the
stock, it was rumored that the buyers
mad intelligence OF new developments,
which will act favorably upon the
stock Another active stock was Chicago
Gas. which was sold heavily iii the early
trading, but equally heavy buv.ug soon raj
lied the stock completely. Distillers' also
came in for share of the new buying. and
improved materially. Another important
feature of the day was the strength exhibited
by the Richmond 4 West Point securities,
especially the per cent.
The meeting of the coal sales agents has
had the effect of making waiting attitude
on the coalers, and while Reading very
active, especially late in the day, when the
efforts to get it down became most mar ked,
it was held within range of 1 per cent all
day long, and closed within l2 per cent of It's
last nights price, despite the pressure
brought TO bear. The other coalers were
almost entirely neglected.
The effect Of the application for receiver
for Chicago Gas at the close OF the day was a
lOSS VI 70 per CSilI Will the SLOCh IlTlQ the
rally. while the various rumors about differ.
ent parties seeking control of New England
resulted in a rise of 25s per cent for that
stock. The only other important change for
the day was in Distilers, which is taken care
of by the insiders, and gain of 21s per cent
for the day was scored. Other stocks were
quite neglected, but a firm tenn per in the
early dealings was followed by general re-
action when the rise in New England cul-
minated, but despite free realiZatons in the
late trading the market closed rather firm on
slight rally.
Bradstreet's weekly review of the stock
market:
Speculation in the stock market has as
sumed narrower dimensions. The present
week has not been without further evidence
of underlying strength, but the improving
tendencies have been confined to limited
movements i'll particular stocks. The frmer
feeling of the money market appears TO eX-
ercise restraining influence, and checks the
freedom with which manipulative interests
have of late created advances in values. A
rapid reduction of the reserve balance of
country banks in this city seems to be now in
full progress Within two weeks the deposits
of the associated banks show a decrease OF
nearly $50, 90 1000 and the outflow this week
is believed to be heavier. Tangible evidence
of the process is afforded by the stronger
condition of rates for cali money. which adj
vanced to eos rer cent and, though subject
to variations are more firmly held than has
lately been the case.
At the same time this tendency in regard to
money has not been without favorable feat
ure. The advance of exchange rates, which
i'll the beginning of the week seemed likely
TO lead to renewed gold exports has been
checked, and a recession i'll quotations for
bankers sterling again removes danger from
that source. Nevertheless the stock market
has been affected and has dubious and I'M
settled financial outlook. outside partc-
ipation shrinking to still smaller dimensions,
while the operations of bull operators i'll
various specialties have displayed cautious
and hesitating disposition. Foreign opera
tons in this market continue TO be upon
very limited scale. The trading in Americans
in London has fallen away, and little iufiu
ence has been experienced from that quarter
though the tendency has in the main been to
sell