St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-01-20
FINANCIAL.
New York.

NEW YORK. Jan. 19-The stock market to-
day was both active and decidedly weak
The pressure against the supposed imminent
war with Chilli was again one of the most
prominent topics of conversation on the
street. and an important cause of the weak
ness The probable course of Mr. Gould and
his associates. however, was more fruitful
topic. helping 10 depress stocks in the rail
road list and the rumOrs of new litigation
under the antitrust law resulted IN special
weakness in distillers and other industrials
There can be no fault found with the coudi-
ton of the money market, as funds are very
abundant.
The traders were all on the short side today
and considerable selling by bulls who have
held on too long went to make up the large
business OF the day, and while there was
some covering to take profits on the declines
of the last few days, which did steady the
market In the last part of the afternoon. and
some orders i'll few stocks, the pressure was
SO heavy and persistent that the downward
movement after very weak opening was
almost steady throughout the greater portion
of the day.
First sales were from 1s to 1 per cent lower
than last nights figures, and the industrIals
at once took the lead in the decline. but the
grangers were not far behind, aud the losses
among the active shares were again remarka-
BILE even and well distributed The covering
movement assumed no importance until the
last hour. when in few stocks material
rallies were made. but these failed to wipe
out any large portion of the previous losses.
and the final declines are heavy all through
he list
The close was quite unsettled. though a
firmer temper manifested itself. The de-
declines of note include Cotton Oil. 2ss; Rock
Island. 2lS; StPaul and Louisville rs; Cord
age and Missouri.Pacific, 15s; c c., c.. d st.
L., Chicago Gas and Northwestern, IT,; At
Gibson, New England and Union Pacific
1Ss; Erie, "a, and Burlington. Canada South
ern, Wheeling and Erie preferred, each per
cent.
The Post says: Everybody expected a
further pronounced decline in this morn
ing's stock market. and the decline came.
Yet the bull character of the trading would
scarcely have been guessed from a simple
survey of the quotations. The larger
that in selling the market short
on such bear arguments as are now current
they are handling edged tools. Those of them
who sold stocks last week covered in many
of their contracts this morning but naturally
continued to feed out diseouraging opinions
lators Joined in the selling. The result was
steady ana uniform decline averaging full
point in active stocks during the first hour
Not one important stock on the list escaped,
and in the general liquidation of the small
spectators it was easy for long -headed oper-
ators to adjust their own accounts with
proper caution.
Total Sales of Stocks
today were 400. 535 shares. including:
Atchison IS 278IN Y Central Also
Canada Southern $3.50 Northern Pac of. 1927
Chicago Gas. ..21 20 New England. 1885
D.. /. i ": IS, 40 Rich. W. p. $40
Louisville & N 90, 495I st. Paul 9IS
Missouri Pacific. 9,Sl5l Union Pacific. . rs us
northwestern. 400 Western Union. 1906
North Americana 070