St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-20
SPECULATIVE DRIFT.
Hesitation and Uncertainty
Created by Labor Troubles.

New YORK. Aug. 19.-Bradstreet's says of
the New York stock market: Labor disturb
ances assumed for time the commanding
position in the speculative market of the
present week. The troubles at Buffalo \,
Y, involving interruption of traffic upon
trunklines at that important center threat
enlng 10 cripple the business of Il number of
corporations. naturally tended to create hest
itatin and uncertainty i'll speculative inter
estS
Successful as the movement has been it
continues to create feeling that its artificial
nature must necessarily result III a reaction
even if it does not turn out that the insiders
have unloaded upon the street during the
advance. Notwithstanding such apprehen-
sions the week finds the market
under influence of the Improvement in
industrial shares to an extent which nulllfies
the influence of other unfavorabe factors
in the general speculative situation.
1t may be said that Wall street has discovered
the lmpolicy of bearish operati ons based
upon labor Disturbances Disouieting as the
latter are, their effects are less severe than
might be expected, ana though a section of
The room traders were ready to turn the
Buffalo disturbances and the call for mill
tary assistance to their own advantage, their
success. save brief interval Wednesday
last was but slight.
The fact that the decline of silver was 10
parently arrested early i'll the week. and that
firmer feeling manifested in that market
was not without influence. The exaggerated
apprehensionS i'll regard to the stability of
the American finances. which have taken
possession of certain section of the foreign
financial world failed to affect the course of
events on this side of the ocean. This was
particularly observable Thursday, when
what appeared to be unfounded reports of
the failure of a bank doing a heavy business
sufticed to renew the depression in silver.
CRailway companies which report net earn
ings to Bradstreets. including the more i'm
portant i'll all portions of the country an
nonnce S16,000,000 aggregate net earnings in
IL n lf,rp 81 in INN T,,
May they showed a decrease CT 3 per cent
from the total in May 1891. For six months
the net earnings aggregate 500. 00J 00p or
more than per cent i'll excess of the total
gain over last year was only 4 per cent. Elk
ports of wheat Including flour as wheaU
as reported to Bradstreet's from domestic
seaports both coasts this week, equal 3. 1850
go hu, against 4.14SO0O blu last week and
o.97S.0y0 bu week before last. The advance
in prices of wheat is largely due to inter-
rupted transportation via Buffalo.
Special kilograms TO BradStreet's Indicate
on the whole q moderation increase in the
volume of general trade. as large orders for
nearby delivery have been received by
wholesale dealers in staple dry goods. shoes
hats millinery and light hardware at Chi.
cago, Duluth, st. Paul, st. Louis ST. joseph,
Kansas City and Omaha This at time
when harvesting is not finished in the North
west is significant.
The Buffalo strike and nterruption to
railroad traffic have induced caution in the
current speculation i'll railroad shares at
New York. This does not interrupt the al
vance of industrial companies shares. which
have continued 10 climb, though maninuIa-
tive assistance is dscernibla The fall of
silver maintains an unpleasant feeling
abroad about American securities and checks
foreign interest in this market Silver rallied
early III the weak. but declined again to the
lowest figure. AZ, on reports thai an Asiatic
bank was embarrassed. Exchange is strong
on the insufficient supply of commercial
bills and advance of drawings against cotton
and grain futures. Gold shipments this
week 0pureuata 81 q51 ON