St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-04
FINANCIAL.
New York.

NEW YORK, Jan. 8. AT the opening
OF business Oh tile STOCK exchange today
determined effort was made by the
short interest to depreSS prices, W hich
was partially successful i'll the early
dealings. The bear campaign was not,
however, of long duration, for the con-
ditionS did not seem to be entirely ia
VOrable, and many of the shorts turned
tail and began TO cover when they found
that the market was strongly support
ed. Yesterdays disQuieting rumors
were not revived. and The air seemed
to have been cleared by the announce
ment that the holland Trust company,
the financial Institution which vester-
days rumOrS referred to going into
liquidation. had assets to meet all its
obligations. The weakness of the
London market for American Sc
curitieS was factor in the
early depression here and there were
sales of st. Paul for the London ac-
count, which, however. caused decline
in these shares of only per cent, which
was soon recovered and the final sales
were q above Yesterdays close. Sugar
was most Sc-ively traded in, and after
all early advance oil q per cent, was at
tackled and forced DOWN 156 per cent,
but the stock was strongly supported
good buying, great deal Of which was
To cover shol contracts, the result be-
ing an advance of 81, of which only
4 was lost at the close. Sugar pre-
terred rose l a per cent; Western Union
declined 81 III the opening trading and
then took sharp Upward turn
on heavy purchases said 10
have been for the account OF an inside
pool; the advance from the low point of
the morning was % per cent and the
tinal sale was at the highest of the. day.
New England rose = per cent in the
early trading, fell off l per cent and
then sold up 2112 Fer cent, the late buy
ing being credited in large measure to
the New Haven interest. The stock
closed at reaction of 4 per cent. Dis
llllIng fiuctuated within Il margin of q
per cent, closing q below yesterday. IL
was sold pretty freely during the earlier
part of the day on the ways and means
committees recommendation taxing
spirits i'll bond, but Oh the general good
feeling in tue final dealings the shares
recovered almost the full loss.
AtchiSon was strong on London buy
ing, which induced home purchase and
scored gain of % per cent oil the day.
The general market was weak at the
opening, and reacted fraction in the
opening trading, but quickly rallied aud
an advance of Is per cent was recorded,
the latter in Reading. Before II O'Clock
reaction of sol per cent had been
effected, which was more than recoV-
cred within the following haif-hour.
Then came ii slight reactlonary move
ment, but the market swung into the
afternoon with steady gait which
gradually gained i'll strength, and, with
an occasional reaction, brought prices
up TO the highest point of the day III the
final dealings. The market opened
strong at an advance of ia
per cent compared with yes
terday,s final sales, the latter
in Great Northern preferred, the other
leading advanced not already noted
being 2$4 i'll Delaware q Hudson, 2a6
in Pullman, .3$ in Canada Pacific, Man
haitian and ousquehanna q Western,
~ ill Louisville & Nashville, 15s in