St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-04-18
FINANCIAL.
New York.

New YORK. April 17-Bank clearings to-
day were S112,7O6,5 94; balances, S4,655,-
1878. Money on call easy at 262l2 per
cent Prime mercantile paper, 5@7. Ster-
81 S5la for sixty-day bills and S4.S7A for
demand. The stock market was more ac-
tive and stronger to-day and everything on
the list is higher this evening with the ex-
ception of the Richmond and West Point
stocks which suffered a reaction Of moderate
proportions. In consequence of the unfa-
vorable reports in regard to the German en-
peror's health the disturbances on the Eu-
ropean bourses was reflected in this market
by London selling this morning, but the in
creased demand for domestic account neu-
tralized the effect of the foreign operations
and an immediate improvement in prices
took place in the early dealings. There were
heavy covering of shorts and more confident
buying for the long account great deal of
which was credited to the Standard Oil in
terest The coal stocks early became the
features of the market, Jersey Central taking
the lead at first. The extension of time for
the completion of the Arthur Kill bridge was
supposed to have had some influence on the
stock, as it is expected to be of benefit to that
road. But later in the day the lead was
transferred to the Lackawanna, the pool
buying being very marked. The grangers
were more prominent for strength than usual
of late but the Richmond and West Point
stocks were exceptionally weak, though they
still retained a leading position in the market.
The passage of the bond resolution had
marked influence late in the day when the
upward movement become more general and
on n report that the secretary intended buy
ing 500, 100000 without further authority
from congress, government securities adj
vanced sharply with marked increase in the
amount of business done. The market was
rather heavy at the opening, but Immediately
gave evidence of strength, and under the
lead of Jersey Central and Union Pacific,
material gains were made in the first hour:
The only demand, however, was supplied
by that time and prices had sag
ging tendency until after noon when Lacka-
wanna became the leader, and toward the
last hour the upward movement assumed
larger proportions, and the best prices of the
day were reached by the beginning of the
last half hour; there was Il slight setback,
but the close was active and firm, though at
something off from the highest figures. The
active list is generally fractionally higher
this evening, while Lackawanna is up Use;
Jersey Central, 15sc; Tennessee coal, 1lsc;
Burlington & Quincy and Omaha l per cent
each, but Richmond and West Point is off
7scand the preferred 1c Railroad bonds
were not so active. Sales S7S9000, but the
market was strong. There was no special
feature of interest in the dealings. Govern
ment bonds were active and strong State
bonds were entirely neglected
The total sales of stocks to-day were 29l.
422 shares including:
d. L. d w.. 5s, 158lN. P. p'fd."... 3, 150
Erie .... 6,55OlO Iegon trans. 3,710
Lake Shore. 80. 10, 600 Reading. 40, $50
Missouri pac.. 5,260ISt. Paul -. 81 .O6O
Northwestern. a, 322 Union Pacific. $3.50
n. Jersey Gen.. 9. 240lWestern Union. s, $50