St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-12-03
FINANCIAL.
New York.

z NEW York Dec. 2-Considering the death
of the most active manipulation OF campaigns
in the stock market in the annals of Wall
street the stock exchange today was singu-
J larry free from excitement. Not only were
! the fluctuations in prices comparatively
small, but the volume of business transacted
was less than that often transacted when
there are no special events or influences to
stimulate trading. 1t has been claimed all
along by certain contingent of Wall street
spectators that the death of Mr. Gould
would throw the market into state OF panic,
or that the market for securities would
at least be violently perturbed. Elk
actly the contrary occurred today The
market wavered for q time, and the
bears made several attempts TO get prices 10
a lower level. but on all the reactions buying
orders appeared for large amounts, and each
decline was followed by higher quotations
than those previously current. Even the So
called Gould stocks yielded but slightly
Missouri Pacific ran off lac, but western
bash yielded only fractionally and quickly
recovered
In the genera Hist American Sugar declined
17S. but us rule the losses were small. 1hls
was all the more surprising because OF the
engagement Of Sl,6E,000 of gold for ship
ment to Eugope by tomorrow's steamer. IL
was learned subsequently, that $4,000 had
lieen withdrawn. During the afternoon
much firmer feeling preyaiied,a and as the DAY
drew to a close speculation became almost
buoyant The market closed strong and on
the advance. The sales aggregate 365,Uu
listed and 81, 164 unlisted shares.
The Post says: People who looked today
for a general catyclasm of prices OH the news
Of Mr.. Gould's deaih-and there were some
such people-met grievous disappointment
The news was published i'll Wall street be-
fore the opening of the stock market so that
there was no lack of notice to the Lear con-
tingent. But the operators who began the
experiment found All unexpected situation.
The professional bears were doing nothing.
There Was not sign OF selling orders from
that traditional ''outside public which is
supposed to rush frantically To "llquldate
on the death OF famous capita lists. Instead
OF lhis.it was discovered that the commission
brokers, who were waiting anXlously,
followed the Gould stocks, not by
any means to sell at the market,
but TO buy on all extreme concessions. In
other words, the great bulk of spectators.
professional and unprofessional, seemed TO
have grasped the idea that stocks would break
heavily under somebody elses manipulation,
and that then the market would be hand
some purchase. But no discreet room trader
walks with his eyes open into such Il trap rs
this. Early and timid sellers promptly re-
coded. and the market as al whole presented
the very uncommon spectacle OF the senSa-
ton long looked forward to with periodical
fits of dismay, followed OH its announce
ment by a firm and motionless list of prices.
Bradstreet's weekly review says: Specula-
ton for the past week was outWardly dull,
narrow and professional degree. Beneath
the surface, however. Wall street was eX-
periencing Il greater agitation than appears
in the limited fluctuations i'll values when
constituted the actual trading for the greater
portion of the time The market has. in fact,
simply been waiting for matters OF lmpor-
lance TO develop. Mr.. Gould's illness and
death ranks first in effect upon the senti
6ment of these operators who INDUCED in any
activity. The gold SHIPMENTS, possibly on
large scale. have also been prominent factor
6in the proceedings, while the news from the
silver conference was discussed with an in
-lerest that shows how keenly the street APP
Aprecates the bearing of the financial and
currency problems which confront the
country upon the Ultimate course of
values. 1t must, however. be noted
that tho Brussels conference was influential
mainly so far as ii affected sentiment. 1t has
been generally believed that the gathering
would be negative of results The fact that
the only serious proposition for an 1nterna-
tlonal agreement on the silver question came
from the English delegation. and was sub
-mitted by member of the Rothschild fam
lily. was eminently calculated 10 create sur
prise, while the utJeranceS of the gentleman
ill question indicating plainly that failure
to accomplish ANYTHING at Brussels would be
followed by danger to the finances OF the
world, tended to create an impression
that the possibilities of n successful
result had been underestimated. The
favorable impressions due to these
circumstances, were, however, not lasting.
1t was quickly realized that the De Rothschild
proposition that Europe should purchase
e5,0o>,00O of silyera year for five years in
volved no real concession OH the part of
England. while it would commit the United
States for that period to the continuance of
the purchase of Sj4.0Or.000 worth of silver
Followed up by limitations that the Ameri
can delegation at Brussels regarding the sug-
gestions as inadmissibie, and by the out
spoken condemnation of banking authorities
here. the feeling that the conference would
accomplish nothing, and that an agitation
for congressional action on the present silver
law must be experienced. became general
and resulted in anticipation of liquidation. e
The Total Sales OF Stocks
today were 4?7000 shares, including: