St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-12-11
FINANCIAL.
New York.

NEW YORK. Dec. 10.-Money on call active
/ at SOLO per cent, clos ng at 3. Prime mer-
camille paper 495. Sterling exchange dull
but steady at S4S04 for sixty-day bills and
81. $685. for demand. Government bonds were
dull but firm. State bonds were quiet and
steady. Stocks displayed unusual weakness,
declines ranging in most cases from l06 per
cent. The dealings We're feverish in the after
noon, attended with considerable excitement
Most of the news received on the street dur
ing the day was of an unfavOrable character
and the professional bear operators. with the
aid of the room traders, attacked prices at
every vulnerable point ReaiZationS of long
stocks were heavy and the uncoyering of
many stop orders accelerated the decline.
The condition of the money market was the
principal factor in the movement of prices,
further discrimination against nOn-dividend
paying securities forcing much long STOCK
upon the market. Reading again leads in the
amount OF business done, and in the early
morning was bought freely for London ac-
count but the pressure of stock for sale
afterwards forced it down with the remainder
of the list. Among the important
movements of the day was the serious decline
in Missouri Pacific on comparatively light
trading, which was caused by reports of
strike on the road and of trouble with the
Wabash. The decrease in the earnings of
ST. Paul caused considerable selling of that
stock by foreign operators. The most nota-
bic decline, however, was in Richmond and
West Point. its extreme loss being over 6 per
cent, for which the monetary situation is ell
tirely responsible. All the leading stocks
participated in
THE DOWNWARD MOVEMENT,
Reading being the only one showing any
strength during the day. popularity of
the market was that its periods of compare
tive strength were marked by dizziness. while
the declines were accompanied by extraord-
nary activity. The opening was somewhat
irregular but strong, advances over last even
ing's final figures ranging from 1k0% gen.
orally. While Richmond & West Point was
up per cent. The market was weak from
the opening and declines ranging up to ia
were made in the first hour. A halt in the
decline followed and the market Quoted down,
but in the afternoon there was another de-
cided break which lasted till 1850. Another
period of comparative dulneSs and strength
followed, but in the lsat hour the decline was
renewed, though the market closed on IA slight
rally, feverish aud unsettled at small fractions
better than the lowest of the day. Sales:
535, 731 shares. Reading furnished III, $3.50;
Western Union, 3S,062; Louisville & Nash
vile, 1895; Union Pacific, 27,200; Lacka-
wanna, &c, 40; St. Paul, %, 73O, and New
England, 1850 Everything, without eX-
ception, was lower this evening, Richmond g.
West Point being down 81, Chattanooga 25s,
Wabash preferred Ia, Louisville il Nashvil
rs, Canada Southern and Hooking Valley
each IL, Wabash common, Western Union,
Union Pacific and Northern Pacific preferred
each IL, Lsckawanna, New York Central,
Norfolk & Western and st. Paul each r. and
Texas Pacific and Pacific Mail each L per
cent. Railroad bonds were weak in the fore
noon, but recovered their tone toward the
close and final prices show irregular changes,
about equally divided between gain and
losses. Sales. 81, 700, QUO. st. Paul. La Crosse
division IS rose 2 to 222, Mobile & Ohio 30 de-
bentures lost to so. The total sale of stocks
to-day were 532 53I shares, including:
Canada South II i Z, 65O Reading. $500. .121 $50
Del. Lack. s. w 20, $40 st. Paul. ~ ~, 730
Erie 3,213 st. z. & o.. 1900
Kan s. Tex 49,. 10.S30iTexas Pacific. Is, 715
Lake Shore. lis. COS UuiOn Pacific. 21.200
Louis. & Nash. ..2S, 325 Western Union. IS, 062
Missouri / ciiic. 1916 )r. & Trans Con 4,Il0
Northwestern. 4, 43. docking Valley 6,465
New jersey Cen.16, IL