St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-09-07
c.G. JOHNSON
FINANCIAL.
New York.

NEW YORK. Sept. 6.-Clearings. SI22. 40
1919; balances. S6.OS6. %. Money on call
easy at i2lGf2l2 per cent; last loan II H.
and closed offered at lI2. Prime mercantile
paper. 4ls06is. Sterling exchange dull. but
steady al 81 S4sa for sixty-tay bills and
S4SIS4 for demand. The stock market was
unusually active during The forenoon TODAY
but relapSed INTO the most intense dulneSs
after that time and while well held. though
feverish ana unsettled in the morning. be-
came heavy 10 weak later in the day. There
was pronounced disposition on the part Of
the bears 10 hammer the market and The
realizatiOnS in the coal stocks which were
very heavy also led 10 the selling OF other
long stocks. The weak spot was ST.
Paul. and II received particular at
tenuOn from the bears through
out the day. The uncertainty
as 10 the dividend. rumOr That tn company
would make a new issue of bonds ana that
Mr. Armour would resign from the board OF
directors, were all used with considerable
effect upon the stock. The other grangers
were weak in sympathy though the stale
ment OF the business OF the Chicago. Bur
iinSIOn & Quincy made public yesterday may
have had some effect in that direction. The
bears. however. did not cOnfine their atten-
non 70 the graugers, aud il was intimated
that the Pennsylvania would withdraw from
the Central Traffic association and that
Commissioner Blanchard would resign, but
many StCcks were quite strong when the
general market was weak in the forenoon.
est rise. The Willard stocks were the special
strong feature OF the day though the early
gains were not fully maintained. The
Gould stocks were fairly well held and the
NauderbiitS were quiet and featureless
throughout The opening was rather irregu-
lar but generally heavy, and the pressure on
The list II the early dealings made the mar
keI very active, ana in the first hour nearly
Oue-hRlf Of the total number o. shares sold
during the day were traded in. There was a
feverish and unsettled tone 10 the dealings
but except in The grangers the market was
very well held and even some advances
made I'D 10 noon The Willard stocks, and
especially Oregon Navigation. which ad-
Yauced per cent were prominent during
that time. Toward noon. however. the en-
tire list yielded 10 the pressure and while the
decline was slow and resisted at every point
il continued without interruption until the
last half hour when the lowest figures gen
orally were reached. LacEaWanna came 10
The front III the final dealings but IN
The last few minutes prices made
slight recOyeries. and the close was
fairly steady al or near the lowest prices
OF The day, with the exception of Oregon
Navigation. which rose l per cent. the entire
active list Is lower this evening though out
side of 81 Paul which lost lI2 and Rock
Island per cent the losses sustained were
for fractional amounts only. The railroad
bond market was more quiet today. the sales
Of all issues amounting 10 81. ~. 900. of
which Fort Worth and Denver hrstS which
again came 10 the 'front.' contributed Sll3,-
O31, ana the Reading second incomes S1O2.-
600. The rest Of The business was remark
ably well distributed and presented no
feature OF importance. and the fluctuations
were for the smallest fractions. The final
changes are generally in The direction of
higner figures. Government bonds were
quiet but steady 10 firm. Stale bonds were
dull and teaIureiess- The total sales OF