St. Paul daily globe., 1892-05-26
A Wild SCRAMBLE IN PROVISIONS,
Buying by Packers Chicago Board of Created
Alarm Among Scapers Who We're on
the Short Side.
PORK, LARD AND RIBS GAINED BY THE RISE.
Decidedly Large Temporary Advance and Respectable Net
Gain--Quet but Strong Markets at
New York.

| New YORK, May 25.-The stock market to-
day was still less animated, but there was a
J gratifying change in the temper of the deal
ings from weakness to strength, the demand
from the ports causing the placing of prices
in the general list upon materially higher
| plane. which even the continued manipula-
| ton of the grangers for lower prices was un-
| able to restrain.
The speculation, in fact. while still kept
almost wholly professional character,
shows more and more a strength which comes
from the fact that stocks are held in strong
, , hands, which, as long as the present rates
for money are maint aimed, are impregnable
and raids and drives of all sorts, while pro-
ducing for a moment lower prices according
to their severity, bring no long stocks to mar
ket, and it has become a noted fact that
prices of late recover on q much smaller vol
ume of business than they decline.
The market today was active in spots and
the early hear manipulatiOns of the grangerS,
the increased interest in the Richmond d
| West Point securities owing TO the ray of
hope offered by the Strong-1homas plan,
which resulted in sharp advance i'll The
the coal shares in the afternoon, were the
principal features of the day. Tho strong
underone. however, was marked at ali
times. even when the prices of the grangers
were UeCIIilHS.
Opening prices under the influence of
further demand from the foreigners and the
shorts were all from l8 to II per cent better
than the figures of last night. and further
Improvement was made during the first hour,
which brought prices up to a level which
was in but few cases surpassed durin the
rest of the day. The check was
given to the advance by The drive at the
grancers in which both st. Paul and Rock
Island were specially prominent Tor weak
ness but the limit of this reached the entire
market. for the slight reaction moved for
ward again, though the progress made was
slow for the remainder of the day.
The special feature at this time was the
| rapid rise i'll Cordaee preferred, which sue
ceeded in almost catching up with the com
mon before the close of the DAY, but later the
coal stocks again resumed the leadership in
the market, Union Pacific was also a strong
feature and the losses i'll the grangers were
| then made up with something 10 spare. The
market finally closed with squirt of activity
under renewed covering and very strong at
/ the highest prices or the day.
The Post says: Very few difficulties have
| been placed by the professional bull traders
i'll the way of easy bear covering. There is
| no concerted bidding up of prices against
such demand. And yet the effort of the
markets recent sellers to get back their stock
is at once. attended by a sharp recovery in
prices. This was The case today, and it fur
nished a plain illustration of the markets
oversold condition. A market based solely
| upon the disposition of the short interest TO
cover is not likely to be very sensational
spectacle, but il may lie counted upon for o
! fair refiecti on of real financial condition.
Total Sales of Stocks