St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-16
FINANCIAL.
New York.

New YORK, Feb. 15.-The stock market to-
day, while not showing the immense volume
or business which marked the trading last
week was still active and presented a strong
front almost throughout the entire session.
placing most of the stocks traded in on a
materially higher plane than last week. The
interest in the market has been more general
today, and the largest banking houses on the
street were buying stocks to large extent,
their purchases being for thesmost part in
shares which have for some time lain in
quiet The fact that the feeling of uneasi-
hess over the coal deal has subsidized, owing
to the way in which the coal stocks have held
their advances, and because the facts are
now better understood by the public.
The report this morning that the Pennsyl-
vania state officers had refused to interfere
with the new leases caused great rush to
buy Reading in the early dealings this morn
Ing. Excitement was soon intense. Later
IN the day, however, the excitement sub
sided and buyers turned their attention 10
other parts of the list. Reading, for the first
time. i'll over week. showed slight loss.
Reading and Jersey Central rose over per
cent, but afterward reacted OH what APP
peared manipulation to buy The strength
of the general list was in no way impaired,
though progress during the forenoon was
slow, but when the excitement in Reading
died away Union Pacific, ST. Paul, Atchlson
and Richmond West Point came to the
front and ali made substantial gains with
Atchison leading. The earnings reported on
the last-named road for the first week in
February did much to stimulate the move
ment in the stock list.
Among the low priced shares the SuSoue-
hanna d. Western stocks were again specially
strong, and the preferred made large ad-
vance. There was only one weak point in
the market, distillers yielding steadily in the
main of the advancing market, though it
was kept company by Iowa Central pre-.
ferred. which lost some of its late advance
Chicago gas and cordage were both active
and strong. but the other industriaIs were
rt,,r. r.,,t1
throughout the day. In the late trading
there was renewed buying, and the shorts
took hand in aiding the upword move
ment the market closing very active at
bonds were only fairly active outside the
Reading, but there was a strong temper and
everything is higher this evening. Among
the Readings only the seconds and thirds
scored any material improvement the
former being up 2l2 at 6712, and the latter
25s at g.
The Post says: The problem on which the
markets immediate future largely dependsis
that of the short interest. 1t has been very
generally believed that an unusually large
short interest was outstanding throughout
the market, both here and in London. So
far as London is concerned, the uneventful
fortnightly settlement last week indicated
pretty clearly the absence of any extensive
short interest. In New York the situation is
more puzzling, because 1t is perfectly easy
here to borrow large lines of stock through
private arrangement to which actual board
room 1oaning rates will afford no clue
1t is clear that the old short interest in the
coal shares was pretty much eliminated in
the exciting advance of last weeks earlier
days, and it is not probable, considering the
amount of recent sales clearly traceable to
coal deal INSIDERS and to London, that a
new short interest of anything like equal
magnitude has replaced it. Elsewhere in
the market there is much doubt over the
question. Today's operations however.
showed that the wholesale hammering of ST.
Paul a week ago. and of Union Pacific before
that, was reckless piece of bear bravado.