St. Paul daily globe., 1888-08-09
FINANCIAL.


New YORK, Aug. S.-Clearings. SSS. Ga3-
603; balances, 81, 103, sos. Money on call
easy at lG1ll2 per cent: prime mercantile
paper, 414GD6l2. Sterling exchange dull but
steady and unchanged The traders and
sold-out bulls were again working for re-
action and the market was hammered dur
ing the greater portion of the day. the result
being, that up to - o'clock the majority
Of the list was fracti0nally lower, while the
efforts of the opposing forces in the market
kept the declining unsettled and feverish.
During the early portion ofsthe afternoon,
however, there was an influx of purchas-
ing orders and the operators for a decline re-
tired beaten and began to buy. This made
an active and at times buoyant market and
the improvement in quotations was checked
only with the close of business. In the fore
noon the Vanderbilt stocks We're specially
prominent, being very strong in the face of
the weakness displayed by the remainder of
the list, and c., c.. c. Il l. scored an extreme
gain Of 3 per cent portion of which, how
ever, was lost later in the day. The Wander
bilts were comparatively quiet, but all
displayed strong front. In the after
noon the advance was begun by Gould
stocks, Missouri Pacific being specially
strong, while Western Union led in the
transactions and advanced sharply. The
other Gould stocks were also all active and
prominent in the advance. and Texas Pacific
notably so, the story being that the Boston
pool, which has lately been successful in
lifting New England, was bulling the mark
ct. The grangers were comparatively quiet
pending the new complications with the
state authorities of Iowa and Nebraska.
Among the specialtes Pullman was again
remarkable for the advance made The
opening was active and about steady,
though the tone of the dealings soon
became weak and prices shaded off
with the coal stocks in the lead. Spells of
dullness marked the trading and the market
became quite feyerish, but the Vanderbits
were exceptions to the rule, being decidedly
strong and before noon Cincinnati, Cleve-
land & indianapolis had gained per cent
There was less animation after II O'Clock
for some time, but the market showed more
strength and the Gould stocks came to the
front, the movement spread to the rest of
the list and everything moved up on an in
creased business. The advance continued
without interruption until the close of bust
ness, and Union Pacific and Reading be-
came more prominent in the last hour. and
Jersey Central also developed great strength
and recovered all of the early morning
loss. The close was active and strong at
about the best prices of the day. Outside of
Pullman, which gained 1SS per cent, all the
imnortant advances were in the Vanderbilts
al d Gould stock, and the G. C. C. d /. rose
2H, Missouri Pacific 1ss and western Union
l per cent; the gains in the remainder being
for fractional amounts only. Railroad
bonds were once more active to-day. the
total sales of all issues reaching So 600. OOO
nent in the trading; Atlantic d Pacific
incomes contributing S403.000; Texas
Pacific firsts, S21I, 600; Texas Pacific sec
onds, Sl27, 600. and Erie seconds, S167. .OlO.
to the full amount The market did not wait
for the share list, but was strong throughout
the day, and material advances were made in
many OF the issues traded in. The Atlantic
d Pacific incomes were the special feature
however, and they sold up to 24I2 and
closed at 2414. from 2214 last evening
net gain of 2 per cent. Other important ad-
vances comprise International seconds, ,3l2 to
20: Lake Shore frsts, coupon, 3 to12S; Wabash
seconds certificates to SO. and Great West
ern seconds certificates 2 TO So. Govern
ment bonds were dull and steady State
bonds were. entirely neglected. The total
sales OF stocks to-day were 237,41S shares,
including:
Can. Southern. 4.172 Reading 81 700
ID. l.. w.. 9,140lR. Il W. P-..... 300
Erie...... ..1O.22S st. Paul ....... Is, ,433
Lake shore -. II, ,l1S st. Paul & o.. 3,2S5
Michigan Gen.. 4010pTeXas Pacific. IA 900
Missouri Pac... 9,400 Union Pacific. Il, 900
Northwestern. 1928 Western Union IS. 600
\. J. Central. IL, l70lW. d L. S.. -. $3.50
n. Pac. pfd -. 1855