St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-18
FINANCIAL.
New York.

NEW YORK, Aug 17.-The stock market to-
day again displayed reactionary temper.
despite the strength i'll the industrials but
the advances in the latter arising from ma
,nipulation it was impossible TO continue, in
me face OF the general temper of the railroad
list. In the general opinion, the short inter-
est in the market had been greatly reduced
by the advance of the previous day. and the
high prices undoubtedly brought DUB some
stock for the long account, while selling of
the short account was not wanting and with
the very limited demand, q declining tend
ency was impaired to the market from the
very opening, in the face of the manipulated
strength of the industrials and the few spe-
cialties which received such attention.
Aong the .grangers, Rock Island showed
most weakness in the forenoon, but Atchison
led the downward movement later in the
day. st. Paul was offered down, but received
support and recovered the others displaying
no feature of note. The weak spot in rail
road shares was the Wheeling e. Lake Fries,
each of which retired about per cent On
very light offerings, but all other losses were
confined to fractional amounts. The sugar
aud the lead stocks were the leaders among
the lndustrlals. the cordage shares icing quite
neglected, and General Electric was ad-
vanced only in the afternoon.
The upward. movements Ill the sugars and
leads were very sharp in the early dealings.
and Sugar preferred was lifted ga per cent,
while the common was content with rs.
The leads rose IA ard IA respectively be-
fore the movement came to a halt. The ell
gagemeut of nearly a million gold for ship
lnent had the usual effect of checking the
animation and advance, though the drop
ping tendency of the general list could hardly
be said to have been stimulated by it, and
the activity of the brokers who usually act
for the leading bears was sufficient to account
for all the weakness displayed during the
day.
Prices dragged along during most of the
day, slowly depreciating, but toward the
close there was all increase in the pressure
OF short stocks. and special animation was
developed in Reading, Rock Island, Burling
ton, New England, Erie and St. Paul, while
ali retired to still lower figures than had
been reached during the forenoon. The
fears of liquidation of Mr.. Bostwick's hold
ings possibly exerted some influence in
bringing that stock to the front, but the sell
ing for the day was strictly for the short ac-
count, and in anticipatinn Of such liquida-
ton the market remained without other
feature. and finally closed quiet and weak at
the lowest prices of the day.
The losses in the last hour brought most of
the active stocks down to q materially lower
level than that of Tuesday, and while Sugar
preferred scored a net gain of pa per cent it
STOOD alone in that respect, for Cotton Oil
lost l1s; Burlington. 11a; New England. IA :
Wheeling d Lake Erie preferred, 1ls and
New York Central 1 per cent The transac-
tons in listed shares reached only 1877, 7GS, but
Reading furnished 43 249 the trading in no
other stock reaching 5000 shares, and the
unlisted department 4l,SS7.