St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-18
FINANCIAL.
New York.

New Y DIRK, Feb. 17.-Clearings to-day
were S77,16., 700; balances, SO, 463, 345.
Money on call ruled easy at to Dig per cent;
closed offered at =. Prime mercantile paper,
5@6. Sterling exchange dull but firm, at
Si.S4la for sixty-day bills and 81 .S6la
for demand. The stock market was not
only much more active to-day, but also dis
played more real strength than has been seen
III many weeks for which the reported settle
ment OF the Reading strike was the special
cause. The prospect of settlement of the
strike had strengthening effect upon the
entire list, though 1t did not at first respond
to the news, but the bulls looked upon such
settlement rs likely to give the much needed
stimulus TO the speculation and large buying
resulted in heavy business and decided ad-
vance. Tho feature OF the early dealings
was the London buying of Lake Shore, and
the entire list moved up slightly but I'M
favorable reports from the West sagged the
market off a little when the report
that the Reading strike was settled had been
received, ana the market Immediately be-
came active and somewhat excited, the trad
ing III Reading assuming enormous proper
tons while the stock steadily advanced.
Later the buying halted on Il contradiction
report, but confidence was soon restored, ana
the buying again began. Attention was
turned to the rest of the list, and everything
moved up on a largely increased business.
Lackawanna, Lake shore, st. Paul and West
ern Union being most conspicuous. There
was Il heavy purchasing by the insiders in
the last named stock, which was accOmpan
leu DS Il runOr lnaC the HOStal ana Cnlteu
lines had been bought. There was consider
able covering or shorts in the afternoon an
easy feeling that there may be some further
developments tomorrow aiding in the move
ment. First prices generally showed adj
vances over last nights closing figures Of
from Is to SB per cent, and the advantage was
further increased in the first hour, but the
market drifted into the usual dizziness, and
prices sagged little. Reading took the
lead toward noon, however, and the
entire list responded, and it was
not ill near p. m. that halt
was called. Some slight reaction occurred,
but the buying was again good in the last
hour and the market closed quiet but firm to
strong at about the best figures of the day.
Fort Worth d Denver is lL2 per cent lower
this evening" Reading advanced 2, Missouri
Pacific u, Jersey Central 1s8, Richmond q
West Point preferred, Manhattan and Lake
Shore each l per cent. The railroad bond
market was moderately active, but failed to
respond to the improved feeling in shares,
and prices were irregular throughout the
day; The sales were S1,1740O0. Chesa-
peake, Ohio d Southwestern firSts rose 1874 to
104 Erie funded fives lost 2 at SO, and
Wabash convertibles 3l2 at 50. Government
bonds were dull. but steady to firm. State
bonds were entirely neglected. The total
sales of stocks to-day were 259, 1875 shares,
including:
Del, L, d 10, SOON. j. Central. 1916
Erie. .......... 4, 17Ol Reading ...... 143 314
Lake Shore. =. 10, 300 Rich q w. p. 1885
Lou. & Nash... 3.000lSt Paul. ...... 1870
Missouri Pac 1916 Union Pacific, 1O775