St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-05-04
FINANCIAL.
New York,

New YORK, May 3.-Clearings. 1922. $780,
249; balances, $7,S10,990. Money Oh call
easy at 1l202 per cent: last loan, =; closed
offered at 2. Prime mercantile paper, soy.
Sterling exchange is dull but steady at 81 So
for sixty-day bills and $4.SS for demand
The stock market was less active today and
It's course was irregular, though generally
weak in the forenoon and feverish but
stronger later in the day. The London prices
this morning were again higher and pur-
chases for London account were made this
morning in this market which gave a strong
tone TO the early dealings, but the traders are
not yet ready for an advance and there was
very heavy selling from them for both the
long and short accounts and the improve
ment was quietly stopped. The pressure
was particularly severe against the Gould
stocks and Missouri Pacific and Manhattan
were most prominent in the decline. At the
low figures, however, there was re-
newed purchasing for the long account
although the traders and bears resisted
the advance, giving the market an unsettled
and feverlsh appearance, though a marked
gain was made in most of the list after that
time. The bulls. who were sellers yesterday,
were again buyers to-day, and there were ev-
licences of an early renewal of the upward
movement. The special feature of the after
Moons advance was Northern Pacific pre-
ferred, which was favorably Influenced by
numerous rumors in regard to the business of
the company, and it touched its highest price
in the last hour. The Gould stocks followed
closely. Kansas & Texas being the only stock
beside Northern Pacific preferred, which
shows marked gain for the day. Missouri
Paclhc was also very prominent in the late
rise as was also OregonETran and
Richmond d West Point. the late heavy buy
ing of the aforementioned stock leading to the
expectation that something of importance
was TO come out in the near future. Trunk
ers and Changers were active. but their move
ments were comparatively unimportant
though some bear capital was made out of
the apparent increase in the st. Paul earn
lngs for the last weekin April. The advances
at the opening extended TO l2 per cent,
ment, and the market almost i'm
medlately became weak, and with Missouri
Pacific i'll the lead, declines ranging up to 9
per cent were established. The course of
ever, and Northern Pacific preferred became
the leader OF the market. The tone of the
dealings was very feverish throughout the
afternoon ana frequent changes from
strength to weakness were made, and the
market finally closed rather heavy. The
great majority of stocks are fractionally lower
this evening, but Northern Pacific preferred
is up 1ss and Kansas d. Texas lis. The rail
road bond market was again more active, and
Notwithstanding the weakness in the share
list, were generally strong throughout the
session. The feature of the day was the Fort
Worth Denver firsts, which rose 15s to 81
on sales of $4,000 out of total days bust
ness OF 81, 500, 600. The International firsts
sold eX-coupon to-day, and it is reported that
the lease to the Kansas & Texas has been set
aside, which will be of benefit to the latter,
as 1t has had to make good the interest which
the former failed to meet. Chesapeake IL
Ohio Southwestern seconds rose to 6S, and
c., c., c. d !. consols 2 to 113. Government
bonds were dull and steady State bonds
were dull and steady to firm. The total sales
of stocks to-day were 1856, 800 shares, includ-
ing:
Del. Lac. & W.31. $50 Pacific Mail. -. 1915
Ere ......20, 500 Reading 10000
Lake Shore IN, 1925 r. d West PIT. IS 27S
Louis. Nash. 9,425l st. Paul. .......37. 361
Mo. Pacific =. i !, S35 Texas Pacific. 4.472
Northwestern. $3.50 Union Pacific IT, $50
n. Pacific pfd. 20 ,92Sl Western Union. IL, 255
Or. Trans. ...31, $50