St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-01-16
FINANCIAL.
New York.

New YORK. Jan. 15-The stock market con-
times to show diminishing volume of bust
ness and the trading goes more and more into
the hands of the professional element from
day to day. while pric are held within com
paratlvely narrow limits as a rule, and quo
tations slowly decline under the pressure
brought 10 bear by the advocates Of lower
prices. The largest interests in the market
are evidently downcast and waiting for some
new developments, and the professionals, to
some extent, have the making of prices.
The party looking forward to a decline,
however, is not strong enough to force the
market, and only here aud there an impress
sion is made from time to time. the list snow
ing the most pronounced strength when the
limited demand is taken into consideration.
Holders of stocks are confident that the IN
creasing business shown By the railroads
must in the near future result in another
material upward movement and therefore
cling tenaciously to their stocks.
Today there was little feature in the deal
ings and the few marked movements were
the results of special pressure at several
times. Sugar was the weakest point in the
market and it was sold down from $3.50 to
soc. and after rally to above Sic, 1t yielded
again to the lowest price OF the day New
York Central was remarkable for the sudden
ness of its decline from Sl.15La to Sill, but
it was offered down at time when no one
was by to take the stock and quick recov-
cry TO S1.l5 followed the absorption Of the
offerings.
On the other hand, Lake Shore was run up
1A per cent in the same manner and re-
tanned most Of its gain. There was large
trade in st. Paul again, but 1t was held fairly
steady throughout the day within an extreme
range of "a of per cent. most stocks being
traded in over a like small range. North
western was still strong. but the temper of
the market did not permit any material
change in its price, while Rock Island and
the Gould shares were inclined to weakness
The Cordage shares were sold ex -dividend
and displayed very strong tone i'll the final
dealings in sharp contrast to the rest Of the
list, and especially the other industrials. The
Chesapeake & Ohio's were still active, but the
new DEVELOPMENTS in regard to the property
had no influence to advance the quotations.
while the common fell away more than any
except sugar.
but Notwithstanding some buying by London
and scattering purchases by domestic oper-
ators, prices were brought below the level of
the opening figures during the first hour and
kept there during most of the forenoon. A
slow rally was followed by further depression
i'll the late dealings, and the market closed
quiet and heavy generally at something under
last nights prices; sugar lost 3aB and Chesa-
peake Ohio 11s.
The Post says: A reduction in exchange
rates today served only to emphasize the
drifting character of the sterling market
The chief difficulty In forecasting or analyz-
ing this market lies i'll the large proportion of
exchange transactions made on futures.
ket are, for the most part, taken up by bank
ers who sold sterling in advance many weeks
ago. In addition to this. much OF our heavy
import trade during the fall of last year, par
ticularly that in tin plate, was conducted on
three or four months time, so that remit
tances On this account are falling due this
month. But the assumption that this sea-
sons gold movement from Europe has now
ended is certainly premature. 1t is based on
the inference that Europe has reduced its or
ders for American grain because its own
needs are already amply satisfied. This
would be hard to prove.
s. Total Sales of Stocks
today were 323. S4S shares, including: