St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-10-04
SEVEN CORNERS BANK
Paid Up CAPITAL 5000.
r. NJ. Newport President.
W. B. Evans, Cashies
Michael Defiel Vice President
q. A. Hawks. Asst. CaAhia5
FINANCIAL.
New York.

New YORK, Oct. Chickering's, S149, $780,
ga; balances, Sc, l59, 40. Money on call
easy at 2G3 per cent; last loan 2l2, closed
offered at 2I2. Prime mercantile paper,
4s4@7. Sterling exchange dull but steady at
81. S3l2 for co day bills, and S4.S7I2 for de-
mand. The stock market was less active, but
was still feverish and unsettled, and the de-
cline began yesterday made further progress,
though the losses are generally insignificant.
There was Il marked disposition to hold of
until after the settlement of the wheat deal
and some of the other questions OF the finan-
cial world shall have made the outlook
little clearer to-day, and the bears seemingly
had everything in their own hands.
But the list displayed a remarkable re-
Operative power whenever the pressure
was lifted, and TO the unusually firm
undertone the feverish condition of the mar.
ket was in great measure due. The uneasl-
ness in the Boston market caused by the
further break i'll Atchison this morning,
brought some selling orders from that center
to-day, and there was also liberal baton or
selling orders from Chicago, where the wheat
deal is now unsettling confidence. These
affairs encouraged the bears, and it was re-
ported that several failures had occurred in
the last-named place, though the contrad1c-
ton of this afterward went far TO make the
afternoon rally. 1t was positively asserted,
and obtained some believers, that the. Bank
of England would advance its rate OF DIS
count tomorrow, which also had an effect
upon values. The only influences for good
curing the Gay were the Ddck-UOWu ny
the Nickel Plate in regard to the advance i'll
east-bound freight rates and the appearance
OF London in this market as buyer again,
though the purchases of the latter were of
no great importance. Fluctuations were
comparatively narrow, most of the active
stocks being traded in over range of less
than i per cent, and the decided movements
were very few. The lease Of the East Ten
nessee by the Richmond IL Danville still had
a stimulating effect upon Richmond & West
int htYf Ovaly- nj 10 IN hnl6 &c n
Reading, New England, Union Pacific and
st. Paul were the active stocks, but with the
exception OF Union Pacific no strength was
shown in any of them, while st. Paul
was quite weak in the forenoon, the selling
being attributed to Chicago. Hooking Valley
was the strong feature, and, with Oregon I'm
proYement, advanced sharply OH a very mod
crate business. The first sales this morning
were made at irregular changes from last
evenings prices, though differences eX-
tended only to &c per cent. Considerable
strength was shown in the early trading, but
soon after IL o'clock the list began to show
signs OF weakness, ana while there was no
special weakness anywhere in the list every
thing yielded slowly, while the volume OF
business, which during the forenoon had
been moderately large, steadily decreased,
and in the last hour had become quite dull.
Prices declined until toward delivery hour,
when there was a reaction, and the remainder
of the day was devoted 10 recovering por-
ton of the losses. The close was dull, but
firm, generally at small fractions below the
opening figures. Oregon Improvement adj
vanced ll2 per cent and Hooking Valley las,
and few other stocks small fractions; and,
while the declines are in a large majority,
they are confined 10 small fractions, with the
one exception of Chicago, Burlington d
Quincy, which lost per cent. The railroad
bond market was again moderately active
to-day, the sales of all issues reaching
81, 49, 900, out of which the Richmond &
West Point Trust skies furnished S259, 900,
the Richmond d Allegheny receipts $685.
600, and the West Shore fonrs Sl32, 900.
The activity in those issues, however, was
the only feature of the day, though Fort
Woath & Denver frsts were prominent at
one time. The movements in the list were
like those of the share list, being confined to
fractions. Government bonds were dull,
but firm. State bonds were dull and steady.
The total sales Of stocks to-day were 307,-
141 shares. including: