St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-04
FINANCIAL.
New York.

New YORK, March 3.-While the operations
in the stock market today extended to the
usual number of stocks, the market was mar
rover than for some time. although the
amount of business done was very large, es-
pecially during the forenoon. The temper,
however, was in the main firm, and advances
scored during the forenoon were only par
TALLY lost later in the day, though the great
majority of stock were traded in throughout
within very narrow limits The great feature
of the days operations was the extraordinary
activity in New England, the excitement in
which for the first hour was most intense.
The crowd of brokers gathered at the open
ing to trade i'll the stock comprised over one
half the members present, and extended the
whole width of the exchange.
The rumors circulated last evening con-
Meeting the Vanderbilts with the road were
made the basis of operations in the stock
this morning, and while there was lively
bidding at the opening, the stock sold at diff
ferent prices from Sc TO so on different sides
of the crowd. but the realiZatlons were SO
heavy that it rapidly retired to 81 before the
selling pressure was relieved. At SO it was
3A per cent higher than at the close last
evening. and at 81 it was down LA per cent,
and. while it rallied from this point to 55lo,
it sold between 81 aud IS tor the remainder of
the day. Denials of the stories circulated
were received from the Grand Central depot,
and. after 900 shares had changed hands
IN the first hour over 10000 of which were
sold during the first fifteen minutes, the
stock gradually settled down to something
like ordinary animation.
The most prominent features outside of
New England were the Vanderbilt's stocks.
which displayed considerable activity and
strength. Lake Shore at one time being per
cent above its final figure of yesterday. North
western was included i'll this group, and
Burlington and Rock Island scored substan-
tal gains, while the coal stocks were sud-
denly let down at noon, Delaware d Hudson
closing nearly per cent. The only other
special feature of the day was Use in Chi
cago gas, but all these movements were spas
modic and of short duration.
The general list opened with firm temper,
and displayed during most OF the day firm
to strong tone without any material improv
ment, prices f1uctuatlng within barrow
limits throughout the day. The only
weak point was Sugar, which gave away
later in the day The late dealings
however saw renewal of the realizations
on a large scale coupled with vigorous at
tack upon both New England and the Rich
mond " West Point stocks to take advan-
tage of the sales for the long account. Prices
in these stocks went off rapidly, and New
England retired to 517A, and Richmond &
West Point preferred dropped from Is to 6Sl2,
rallying to 20 at the close
The rest of the market sympathized to
some extent, and the close was active and
weak, but generally at or close to first prices.
The only stock to show material improve
ment, however was Lake Shore, with gain
of 1ls per cent while Richmond and West
Point preferred is down SIP; the common
gig: New England, SA /; Delaware and Hud-
son, 25B; Jersey Central and Sugar, 1913, and
Reading, per cent
The Post says: Inasmuch as the stock
market has of late become merely stage for
the gymnastics of professional traders, the
chief interest of market observers lies in
Watching the traders performances. Today's
market was eXcellently adapted for exhi-
bition purposes. The rumors which for a
week past havs been fitting from one stock to
another rested finally last night in the right
place, the Vanderbilt and New England
stocks Well informed people have known
all the week that this was the real location
of the deal, but negotiating capitalists have
become astonishingly expert of late, not only
in keeping their secrets but in throwing
obtrusive .speculators absolutely off the
track. Official denials,'' the favorite food
of Wall street has been developed to per-
lection of ambiguous squibbings a source of
continual amaZement to the ingenius room
trader, who has educated himself to believe
that If railroad president is carrying out a
series of delicate negotiations. his first move
will be to publish his purposes on the floor
of the stock exchange. Other less phil
antrophic methods have prevailed III this
episode. AS consequence. while two or
three moneyed men were completing their
wholesale purchases of New England shares,
the traders were chasing rainbows every.
where else in the market.