St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-02-08
FENA NCfAE.
New York.

New YORK, Feb. . Business in
stocks today was moderate in amount.
and was for the most part the result of
operations by the professional operators,
but the bulls were in control. There
was noted, however, a marked indiS-
position to sell on the part of holders,
which was of itself sufficient encourage
ment to the buliish portion of the pro-
feSSional element to put themselves
under the market. Wherever there was
any activity it was almost directly the
result of bullish manipulation. Excep-
tons to this rule, however, were to be
found in American Tobacco and Distil-
lerS.' The market for sterling exchange
indicates renewal Of gold shipments.
The increasing indication of large out
20 of gold, either this week or next week,
had its effect upon the market in the
late dealings and considerable reaction
WAS brought about in many stocks,
though the close presented firm tenn
per, generally at close TO the best prices.
In the forenoon the strength OF North
ern Pacific preferred was marked, being
the result of its proposed financial oper-
alton by which the floating debt will be
taken care of. Another strong point
was found in New England, which was
advanced on rumOrs of possible alli-
ance with the Vanderbilt interests.
which would have the effect OF throwing
considerable business over the line from
the New York Central and of the Van
derbilt roads. 1t rose to 81, but reacted
= per cent, and its final gain was only
% per cent.
a stronger feeling was noticed in the
coalerS, and Delaware Il hudson finally
rose per cent, but Reading, while act
ha1 H.
row limits, closing with a fractional
gain. The grangers feel the stimulus
of the approaching business for the
worlds fair, and Omaha showed net
gain of q per cent, but Burlington Il
Quincy, which was made the subject of
some special bear attacks, was eXcep-
tional i'll closing lower. Among the
SpecialtieS, Pacific Mail was noted
feature, being sold down to % in the
early dealings. Some late buying, how
ever, rallied 1t IA per cent, and it
closed only per cent lower. The early
buying of Sugar was feature, but Dis
tilierS' was pressed for sale and closed
with a fractional loss, while American
Tobacco closed at its lowest point, with
a net loss of Is per cent. Manhattan
was again subjected to some wide tluc-
tuatiOnS, rising ) per cent to l61, but
selling back to 1868, at which point it
showed gain Of * per cent.
The Post says: ain the final hours
the market took sharp upward turn.
Many room traders and professional
operators had sold somewhat heavily on
a belief that the action of the senate on
the silver question yesterday would af-
feet prices in an untavorable manner.
Gradually the feeling gained ground
| that tho UOtn test Of tho
| ton and that the situation was prac-
tcally unchanged. When buying orders
came in through the commission house
| the traders who had parted with their
holdings found stock unusually scarce.
| The result was that with little loose
stock on the market prices moved up
| bTiskly, and traders suffered from their
| own apprehension and excessive timid-
lty. The threatened labor trOubl in
| the West apparently had no effect on
the railway shares involved"