St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-08-23
FINANCIAL.
New York.

M New YORK, Aug: 22.esclearings. $s5, s4e,-
on call easy at 112@l2 per cent, last loan 1I2.
per cent; closed offered at 1l2 per cent.
Prime mercantile paper 4la@D6l2 per cent.
Sterling exchange dull but tirmer at 81. S442
for sixtyday bills and S4.S7Ia for demand
The stock market to-day showed very little
change from the previous daysand remained
dull but generally strong, with narrow huc-
tuatlons, and the interest concentrated into
less than half-doZen stocks. Most of the
advances were wiped out toward the
close, but the majority of the list
closed higher than last evening. London
had number of selling orders in the
market this morning at the opening, and this
encouraged the bears and traders to make
demonstration against the list, which had the
effect of opening the list off from 18 to IS per
cent. the latter in Missouri Pacific: but New
York Central was exceptional, with gain of
" per cent. 1t soon became evident that
there was very good buying, in the Wander
bits, and New York Central before the end
of the first hour had advanced 11s per cent
followed by the other stocks of the Wander
bilt group, as well as Missouri Pacific
Wheeling and Lake Erie and several
stimulus, and everything advanced frac-
tional amounts. The announcement of
the sale of bonds by the Northern Pacific
was the cause of an advance in these stocks
fore noon, and ST. Paul and the Gould stocks
also became prominent, st. Paul reaching
the highest price for a long time The de-
mand for stocks then slackened off and the
market became dull and uninteresting. but
Norfolk IL Western preferred relieved the
monotony by sharp advance based upon
the rumor that the company had finally pur-
chased the 4s,o control of the East Ten
also was helped by the story. and
the preferred stock rose over a point.
The best prices were we'll held throughout
the afternoon until toward 2 p. M, when ex-
tensive realizing again encouraged some
hammering of the list, and in many cases
the early gains were completely wiped out
The movement was of short duration, how
ever. and some Improvement was made in
the final dealings, the market closing quiet
and dull, but firm generally, at small fractions
better than the opening prices. All the news
OF the day was of an encouraging nature, the
advance. while the belief that the trunk
line officials are anxious to restore
rates was seen in the strength dis
played by the stocks of those companies
The final changes in quotations are irregu-
lar, but all the important ones are in the di-
rection of higher figures and Norfolk &
Western preferred rose 1ss, and Michigan
Central and San Francisco preferred l per
cent each. The railroad bond market was
dull, except for the Reading bonds. and the
Is contributed S147, 600 to the days total of
81. 091,O00 The tone of the dealings was
again strong, but the fluctuations were for
the smallest fractions as rule and the final
changes of importance are few in number.
Northwestern extension 5s lost 2l2 at 95.
Government bonds dull but strong. State
of stocks to-day were 1913, 392 shares, includ-
ing:
Del. L. & W.. 24,571lN. Pacific pfd. Is. O7s
Erie -. ...... $500 Oregon Trans. .12,Os5
Missouri Pac.:. 7,160 Rich. 4 W. P. 9.11O
Northwestern 694OlSt Paul 90 745