St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-13
FINANCIAL,
New York.

NEW YORK, July 12.-Clearings S1O2. 327. =
249; balances, So, 456,o77: Money on call
easy at 1@l1l2 per cent. Prime mercantile
paper, 3@5Is. Sterling exchange dull,
but steady and unchanged. The stock mar
ket was less active to-day, and besides dis
playing less vim than during the past
few. days early developed a reactionary
tendency. and while the dealings were fever
ish and unsettled throughout the day the
result of the days operations is to leave the
great ma jority of the list fractionally lower
than las evening. There was good buying on
the part of some of the commission l. O Uses.
foreign account but the professionals
who had bought yesterday with the inten-
ton of unloading upon London were COM
PEELED to dump their load in this market,
stocks the traders began to hammer the list
for reaction. All the news of the day was
of favorable character, and some new de-
velopments served to keep the downward
movement in check. Western Union was
ment of the cable difficulty is
but matter of few days. and while Chi
cago sent few bearish kilograms, there was
buying Of the Western sEecelties and St.
Paul was one of the features Burlington
nouncement of the resignation of General
Manager Stone, which was interpreted bv
the street to mean also change in
the aggressive policy of the company, and
denied, most of the Improvement was re-
tanned. Lake Erie s. Western, Indiana,
Bloomington d Western and c., c., C. Il l.
were all very strong on the statement that
important negotiations are being conducted
which will include also an agree.
ment to restore rates, and each made import
ant advances during the day. The conspic-
uous weak spots were Manhattan. Houston
a. TaY0S 0nd MICHIGAN Central knit IN
of the general list was there any marked de-
cline except in Missouri Pacific, which con-
tinued to sag steadily throughout the
day and closed with los of IIs per
cent. The first sales were made generally at
concessions from last evenings figures OF
from 1B to ss per cent, and further slight
losses were sustained in the early trading.
This was succeeded by reaction, in which
features in the general list and Hooking
Valley among the specialties, the latter
being favorably affected by the probability of
a settlement of the suit against Judge Burke.
The heavy tone was resumed after this
spurt however, and Missouri Pacific led
marked falling off from the cessation
OF the early demand and st. Paul and
Richmond and West Point after IL
o'clock continued to decrease until the close.
The activity in the stocks mentioned was ac-
companied by an upward turn in sympathy
with the movement in Burlington, but it was
of short duration, and the decline wes re-
newed. Very little feature marked the sub
sequent trading, and the market finally closed
dull and heavy at fractional losses for the day.
The railroad bond market was somewhat less
active to-day, the sales reaching 81 ,6OS, coo,
and the Texas Pacific seconds again led the
list in point OF activity, contributing S197,-
600, followed by Fort Worth & Denver firsts
with S133,O00. The tone of the deal
ings was irregular and unsettled and
very little feature marked the trad
ing, most final changes being for fractional
1874; Mobile & Ohio new skies, to
112le; Northern Pacific DDS, to 1l0Ia, and
Wabash general trust, 5 to 40. The total