St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-12-15
R. NJ. NEWPORT, Pres't., MICHAEL DEFIEL WIRES.
W. B. EVANS, Cashier, C. A. HAWKS, Asst Cashier.
THE SEVEN CORNERS BANK.
ST Paul Mimi
FINANCIAL.
New York.

NEW YORK, Dec. 14.-Money on call active
at 6@25 per cent, closing at 25 bid. Prime
mercantile paper 405. Sterling exchange
quiet, but steady and unchanged. Govern
ment bonds were dull and steady. State
bonds were dull and steady. The stock
market gave promise Of some improvement
in the early hours, but was feverish and I'M
settled to large extent. although quotations
advanced. Later the bidding up of money
to an extremely high rate offered another op-
porIunity to the bears to vigorously raid
prices and a decided slump bordering on a
panic was the effect in the last hour. The
unsettled condition of New England kept the
market feverish and irregular when it would
otherwise have been firm to strong. The
Southern specialties, by their enormous de-
clines, coupled with the
SHILLING OF NEW ENGLAND
by the Boston people were the principal
features of the afternoons trading. The fav-
orable factors in the situation were the steady
buying for foreign account, which was spe-
cially noticeable in the forenoon and the fur
Their drop in the rates for sterling exchange.
All such influences, however, counted for
naught IN the rush to sell in the afternoon.
In the morning there was some improvement
in Jersey Central on the announcement that
the Baltimore & Ohio was now using the road
under the contract and that the stocks bought
by the foreign people were prominently
strong, including Reading, Erie u
Louisville and Nashville. The Boston
party threw New England upon tt 2 market in
large amounts, when it became apparent that
the control would pass into the hands of the
New York party. At the same time advan-
tage was taken of the absence of the princi-
pal supporters of the stock by the bears and
room traders to hammer it vigorously, result
ing in a break of over per cent. The OPEN
ing was active and strong, although there was
ohe Of hn oil rt1Sh of n
the day. Advances over last evenings final
figures ranged from "a to IS, though few
stocks showed slight declines After some
slight hesitation an advance occurred, cover
ing the greater part of the first hour. New
England broke badly, however, aud in many
cases under its influence, the early gains were
lost. Toward noon,
THE UPWARD MOVEMENT
was resumed, and at that time fractional ad-
vapces were general throughout the list. In
the afternoon, however, a general decline
took place, the Southern stocks leading,
which was checked before 2 p. H., a frac-
tional rally was followed by renewed weak
ness, and in the last hour the decline became
q semi panic. About One-third of the entire
days business was transacted in the last forty
minutes, and the market closed very active
and weak at the lowest prices of the day.
Sales. 570,434 shares. Reading furnished
49, $50 shares; New England, 1876; Lacka-
WANNA, 44.U0U. raul. Oo.SUUs LOUISVILLE "
Nashville, 37,765; Erie, 34,376. Final prices
show material declines throughout. and
Chattanooga leads with decline of 22H per
cent; Tennessee Coal, %; New England, 61s;
Norfolk s. Western preferred, 81;
Louisville & Nashville, 81; West Point,
3S; Canada Southern, 23s; Reading 2.
Trading in railroad bonds was moderately
active, and without special interest except in
Erie I'd consOls. of which the sales were
S129, 900; Texas Pacific incomes, $4,000.
The total sales were Sl,375, 900. Prices were
generally heavy, although there were some
recovefies late in the daY, the movement ut
that time being very irregular, and final
changes are unusually divided between gains
and losses. St. Paul consols lost 2 at $50,
Erie IDS IL at $50, Green Bay lists gained
at SO, Louisville New Albany ana Chicago
lists at Ill. Mexican Central As ~ at sc.
The total sales of stocks to-day were, $40. 434
shares, including:
Canada South IL. Is, 040 Reading. ....... .S9. 9G0
Del. Lack. s. W. A, $50 st. Paul. ....... .38.200
Erie. 81, 3!5 st. P. & O....... $3.50
Kan & Tex 80. 9,390IT Texas & Pacific. $500
Lake Shore. 90, 030 Union Pacific. 20, 500
Louis. s. Nash. ..37, 765 Western Union. IS, 795
Missouri Pacific. 3,457 North. Pac. pfd.. $3.50
Northwestern. 9, $50 Or. & Transcon.. 7,025
New Jersey Cen.24, coo Rich. & W. p. $3.50
New York Gen.. 5,70oI Hooking Valley. IL, 455
Pacific Mail. 4, 400