St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-09-19
j. j. WATSON, BRO. & HYNDMAN,
81 East Fourth Street,
REAL ESTATE AND NOR GACE INVEST
MENTS.
FIRE INSURANCE AGENCY.
FINANCIAL.
New York.


New YORK, Sept 1S.-Money on call
easy at 2Cn2l2 per cent; last loan, 202l2.
Prime mercantile PAPER, 54074: sterling
exchange duh, but steady at 81. s4S4 for
sixty-day bills and s4. ssl2 for demand. The
stock market to-day was somewhat less
active, but the business done was more
evenly and widely distributed, showing a
decided broadening tendency for the time
being. aside from the usual strength dis
played over the entire list. The market adj
vanced with but slight set backs almost
from the opening to the close, and the final
prices show material gains throughout the
list. The temper of the room was more
bullish than it has been for some time, at
least since the action of the st. Paul directors
and the bears were timid and ran on their
shorts at lively rate, giving the market at
one time a decidedly buoyant tone. The
principal cause of this change of front was
the absolute refusal of the foreigners to
scare into selling stocks, the orders to buy
from the other side this morning being in
excess of anything seen of late. Their pur
chases extended over wide range, and st.
Paul was taken very freely, which had a
marked influence III restoring confidence in
the rest of the list. There were other causes
acting to that end, however, such as the ad-
vance in rates on the trunk lines for certain
goods. the improved earnings on the ST. Paul
and the bulllSh utteranceS of gentlemen
closely identified with Mr.. Gould. The lat
ter had a marked effect upon the Gould
stocks and Missouri Pacific especially, which
was unduly depressed by the reported issue
of new stock became feature of the day.
The most marked movement in the list, how
ever, was in New England, in which the up
ward movement, which was begun some
time ago, was resumed, accompanied by
great activity. The deal is still a mystery to
the street. as the insiders do not acknowledge
any participation in the affair whatever
The buying afterward extended to other
stocks, and Lake Shore and Northwestern
were specially prominent, the short interest
in the latter having been large, and the stock
now commands premium for use. Lacka
wanna again commanded attention by rea-
son of sudden rise, almost all of which,
however, was afterward lost. The
other coalers were active and fairly
strong. The opening figures were from
Is TO So per cent higher this morning while
Missouri Pacific was exceptional, with
gain of "a per cent Some little reaction
occurred in the early dealings, but the market
soon recovered and everything moved sup
with ST. Paul, Wheeling Il Lake Erie and
Union Pacific in the lead. An attack upon
Northwestern brought the list once more
below first prices. but after noon New Eng
land came to the front and the extraordinary
strength displayed by the stock stimulated
the entire list and followed by Missouri Pa
cific and Cotton Oil brought prices to their
highest points for the day generally at about
l 80 p. M Free realizations after that time
sagged the list off while Lackawanna
became quite weak, losing nearly all of
its former advance. The tone of the market
again improved toward the close, however,
and the list was quiet but firm, at or near
the best figures at the close. The final
changes show advances in everything, with
out exception, and ST. Paul preferred rose 2
per cent, the common rs, New England a
like amount, Manhattan 1I2 Missouri Pacific
ia. Northwestern ls, Burlington IL Quincy,
Hooking Valley, Lake Erie and Western pre-
ferred, Northern Pacific preferred and West
ern Union ! per cent each, and the rest frac-
tional amounts. The interest in the dealings
in railroad bonds was still second to the
share list, and, while the market was little
more animated there was lack of feature
aud no decided tones TO the transactions.
The market continued irregular in its
| movements throughout the entire day
and the final changes which are generally
for fractions only are about equally divided
between gains and losses. The sales were
Sl,017,000. Western Union coupon rs rose
| 3i2, TO 1872. The declines were ST. Paul
| South Minnesota Us So, to l0SI2; the Wis
consin d Minnesota 5s 2I2, at 80; Ontario
| d Western lists 3, at 111l2, and Green Bay
incomes =, at 81. Government bonds were