St. Paul daily globe., 1888-08-10
FINANCIAL.
New York.

New YORK, Aug 9-Clearings, 500, ,673,-
Cos; balance, S5,357,917. Money ON call
easy at 1@11a per cent; prime mercantile
paper, 4AGl649; sterling exchange dull but
steady at 4. so for 60-day bills and 4, S7A for
demand. The stock market again showed a
reactionary tendency to-day, and for the first
time in many days the general list is lower
than the preceding day. There were heavy
realizing sales throughout the day and some
hammering by the traders, but the demand
for stocks continued large and the impress
sion made upon prices was small. Special
stocks, however, were remarkably strong,
Notwithstanding the general downward
tendency, and chief among these were Jefi
sey Central Lake Erie IL Western preferred,
and Mahoning Coal. The first named stock
was by ali odds the great feature of the day
and it at once assumed the lead of the
market at the opening of business 1t sales
for the day exceed those of the previous five
days put together, and It's extreme advance
was over per cent. The board room rumors
in regard to the stock were that the Reading
party had resolved to put up the stock, hav-
ing secured the holdings of the Lehigh Val
ley, and that a dividend was to be paid
shortly. The president of the company said
that the road was earning dlV.d end, but
that there had been no action taken in the
premises as yet. The other coalers We're all
strong and active, but came into no such
prominence. as Jersey and the Gould stocks
fairly disputed the first position in the mar
ket with them. Missouri Pacific made fine
spurt in the forenoon. but lost the advance
later, and Western Union was firm through
out. The last stock to attract attention was
Lake Erie 4 Western preferred but, its net
gain was something less than
point Oregon Short Line was prom
inently strong, and among the
specialties, Mahoning coal was very conspic-
uous with a rise or 3 per cent. London and
commission houses absorbed most of the Of
ferings while the realizing was almost en-
tirely local. The market was very active at
the opening and continued SO for the first
hour, when nearly half of the total sales
were made. First prices were generally
strong, advances, extending to l2 per cent in
Jersey Central. The coal stocks started off
with the leader, and were strong, while the
Test of the list displayed considerable weak
ness and declines extending to 5s per cent
were established The Gould stocks next
came into prominence, and Missouri Pacific
led second advance, with Western Union
close up and the general list sympathiZed to
q certain extent, recovering the losses of the
first hour. The dealings then became Ie-
stricted, and fluctuations confined to the mar
roweSt limits, except in few special stocks.
though firm tone marked the trading until
late in the last hour, when the selling again
sagged the list Off and the close was quiet,
but generally heavy at slight losses for most
of the list. Almost the entire active list is
lower this evening, but the few advances are
for the important amounts. The railroad
bond market was again active and strong, the
sales of all issues aggregating ST, $40, 500 out
OF which Atlantic Il Pacific incomes fur
nished 1892, 600, Texas Pacific SECONDS
100000, and Fort Worth Il Denver firsts
S14S,OO0. The activity was nearly all in the
first hour, however, over loo, 900 being
traded in that time. The market was strong
throughout, and while most of the changes
are for fractional amounts, Alton d. Terre
Haute firsts rose to la. Government bonds
were dull and steady. State bonds were dull
and steady. The total sales of stocks to-day
were 21O. SS6 shares, including:
Can. Southern. 4.750lN. Pac. pfd... 5.014
ID. l.. d W.. Be. 500 Reading. g......39, 10
Erie...... Ia, 25OISt. Paul .......14, ,2lO
Lake shore -. GIL Texas Pacific. 6,S5S
L. & N......... 3.465 Union Pacific. Is, ,S7S
Missouri Pac.. 10, 66Sl Western Union 16, ,375
N j. Central 21, 7S5