St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-06-09
FINANCIAL.
New York,

NEW YORK, June S.-Clearings, SIS, 927.-
972; balances, S3,614,O23. Money on call
easy at 1@l12 per cent; last loan, 112; close
offered at 1la Prime mercantile paper 4t06.
Sterling exchange dull. but steady at 81. S6ls
for sixty-day bills, and S4.SSl2 for demand.
The stock market again broke the record for
dizziness during the present depression in
business, the total number of shares sold be-
ing only 96,6S1. The firm tone of the past
two days also was lacking and prices this
evening are fractionally lower for the ma or-
ity of the list. though the transactions of the
day with the final results are of very little
moment. The uneasy feeling in the London
market over the rumor of passage by the
Denver & Rio Grande of the dividend on its
preferred stock made the early figures from
that center lower than our last evenings
closing prices, and the traders, thinking
they saw an opportunity to make a turn
jumped on the market. In order to aid in the
work of depressing prices story was circu-
lated that the Missouri Pacific directors had
met yesterday and decided to pass the next
dividend. But the fact is that the meeting
of directors will not be held until next week,
and there is as yet nothing to indicate that a
dividend of at least ! per cent will not be
paid. The rumor on Missouri Pacific had no
effect whatever. but the story on Denver was
sufficient to force its price off 234 per cent
from its last previous sale, only small frac-
ton of which was recovered. The market
presented no other feature whatever, except
marked improvement in Oregon Improve
ment shares, which rose on small business
2l2 per cent. The bears had the action Of the
Iowa railroad commissioners TO help them
to-day and first prices were from Is to y per
cent below last nights figures, and further
fractional losses were sustained in the early
trading, Kansas & Texas losing "a per cent.
But the animation in the market was soon
over and for the remainder of the day and
up to the delivery hour the most intense
stagnation marked the transactions, and the
fluctuations were confined, except in the
stocks above mentioned, to less than SO per
cent. The losses made induced some cover
ing by the traders toward the close, which
first prices as rule, the largest decline being
"a per cent in Louisville L. Nashville.
The railroad bond market was much the
same in character as the dealings in shares,
though there was more activity displayed,
the sales amounting to 81, Lid, 900, to which
Texas Pacific new tirstS contributed S226,
600 Fluctuations, however, were on the
same limited scale, and the final changes for
equally small fractions. Government bonds
were dull and steady. State bonds were dull
and featureless. Petroleum opened steady at
Use, but became strong after the first sales,
and advanced to 79SSc. sharp reaction
then set in, but the market rallied III the
afternoon and closed steady at 7S7sc,.. Con
79ssc; lowest, 777sc; closing at 1850.
Stock exchange opening, 7S4c; highest,
79Ac; lowest 7Sc; closing at 7SS4c. Sales,
1924 900 bbls. The total sales of stocks to-
day were 96,6S1 shares, including:
d. L. & W.. 5,S00lReading .......24, 600
L. & No.. $500 st. Paul. ...21, 735
Missouri Pac.. 1892 Union Pac. -. 500
Northwestern. 3,125I Western u. 80. 5, $50
N. P. pfd...... $3.50