St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-12-18
FINANCIAL.
New York.

NEW YORK, Dec. 17.-Money on call was
stringent, ranging from per cent. to q and
interest per diem. Last loan at closed fat.
Prime mercantile paper 495; sterling ex-
change dull and unsettled at S4.794 for sixty
day bills and S4.S3 for demand. Government
and state bonds were dull and firm. The
stock market was Irregular and feverish
throughout most of the day, but was generally
weak in the forenoon and stronger there
after There was heavy selling by London
in the early morning of the grangerS, VAN
derbilt. Reading and Erie. This was sup
posed to be in consequence of the advance or
the bank of England rate and some fear that
it might go higher. The money market
worked considerably easier, rates falling to
8 per cent. at the close. The increased en-
gagementS of gold from the other side also
gave the bulls here renewed courage and they
bought stocks in spasmodic manner when
ever the selling pressure was removed which
gave the market its feverish aspect. In the
afternoon much better feeling was appar-
ent and toward the last hour the upward
movement assumed larger proportions the
best figures being generally reached toward
the close. Reading was the great feature, its
transactions being about one-quarter of the
total business done, and it was conspicuously
weak until noon. There were many rumors
afloat, but the story of opposition to the plan
by certain security holders OF the road
seemed to have most effect. There was
CONSIDERABLE LIQUIDATION
throughout the list, but 1t was generally
neutralized by the good buying of the after
noon. Some encouragement was derived
from the discussion of the New York Central
statement and further reduction in sterling
exchange rates. The latter, however, are I'M
settled, which prevents arbitrary business.
The opening. following the advices from
London, was very weak, the declines from
last evenings final figures ranging from Is to
"A per cent. generally, while Reading was OIL
IL and Norfolk g. Western preferred IL. The
early trading was extremely weak and few
erish the first ten minutes recording declines
of lob per cent. A slight rally was fol-
lowed by renewed weakness and under the
lead of Reading prices again moved OIL
materially. Another rally toward noon was
followed by another short period of weakness.
a decided advance, however, took place in
the afternoon, eliminating about l p. m. A
period of dulneSs and steadineSS gave wa
in the last hour to a renewal of the upward
movement and the market closed generally
firm at prices which in most cases are but
slightly under the highest of the day. Prices
in majority of cases are small fractions
lower compared with last evening. Tenn
essee Coal & Iron is up 81. Wabash preferred
is down IA and Jersey Central q. Railroad
bonds were quiet and irregular, but were
generally heavy in the forenoon, recoverin-
somewhat later in the day. Denver Rio
Grande is were u fe AZURE and after selling al
70, closed with net advance of 4 per cent.
at rs on sales of SI21. 600. West Shore As were
remarkably strong throughout, closing ~
per cent. higher at 104H on sales of $4,000.
The total sales were SI,64l,000. Central
Iowa LIST coupon Off, lost AZ at 751S; Chesa-
peal1e Il Ohio currency IS, 2 at 30; Mime
apolis s. st. Louis Improvement IS, 2 at So.
Fort Worth & Denver lst gained at SO; Nor
folk g. Western adjustments "a at LOT. The
total sales of stocks to-day were 5l6,45'
shares, including
Canada South'u. 7.T95New York Gen.. 1892
Del. Lack. & W .5S,600 Pacific Mail..... 6.04A
Delaware s. Hud 1865 Reading. ....... 1873, l50
Erie. 81, 275 Richmond & W.P. 6,7U0
Kan & Tex. $685. st. Paul. AS, 49,
Hooking Valley. 9,0S9, st. 2. & O....... 5,47C
Lake Shore is, 1856 Texas s. Pacific. 1915
Louis. 6 Nash. ..19, 375l Union Pacific. $50
Missouri Pacific. 4,2SSl Western Union. IA, l35
Northwestern. $3.50 North. Pac. pfd.. $500
New jersey Cen.11, 750IOr. Transcon.... ,l2O