St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-09-20
FINANCIAL.
New York.

NEW YORK. Sept. 19.-Clearings, $780,
9S7,S54; balance, S4.424,75O; money
m asf lSaP pap closed 5 g 2a s PEms
exchange dull, but steady at S4.s4a4 for
sixty-day bills and 81. SSA for demand. The
stock market to-day was more active
than OH any day for long time and at the
same time was strong even to buoyancy the
improvement extending right through the
list. The feature of the dealings was the
heavy buying of the foreign houses whose
purchases were measured by the thousands
There was much speculation as to The object
of the heavy absorption of st. Paul
especially, though the majority of the
habitues of the street set it down
to the desire of the foreign holders
of the stock to obtain complete control and
make changes i'll the board of directors, and
by some, Messrs. Armour and Plankinton
are believed to be also in the scheme with
the Londoners. There was no positive in
formation upon the point however, every
thing being conjecture. The bears were com
pletely demoraliZed for the time being, and
in their haste to cover their SHORTS and get
over to the bull side, ran the price of the
stock over per cent The improved out
look among the trunk lines for harmony with
the late advance in rates served to bring the
stocks of those lines once more into promi-
nence, and Lake Shore especially became a
feature of the day and crossed par for the
first time in two years on large transactions.
The Gould stocks were comparatively neg
Iected. There were few stocks among
which Lackawanna and New England.
which are subject to considerable manipula-
ton, failed to respond to the general ad-
vance, and at times showed considerable
weakness. There were again several rumOrs
in regard to the deal in New England, but
nothing of q positive nature. The decision
of the arbtratOrs in the suit of the Hooking
Valley against Judge Burke being adverse TO
the company, the stock of that road became
extremely weak, and after decline of over
ten points, recovered small portion of its
loss. The weakness in it had some effect in
holding back the improvementint the general
list, and led to slight reaction, but its in
fluence was of short duration, and the upward
movement soon resumed. Commission houses
had liberal buying ORDERS and many Of the
traders were over on the bull side, which
gave the market very strong tone through
out. First prices, with the exception OF
Hooking Valley, were from'ls to "a per cent
higher than last evenings closing figures,
ana although, through the pressure upon
Lackawanna and New England, some reac-
ton occurred in the first few minutes, the
market soon became strong, though no de-
cided gains were made until afternoon, when
everything Joined in the great upward move
ment of the day. There was another slight
setback toward 2 p. m, but IN the last hour
st. Paul became unusually active and at the
same time advanced Iapidly, carrying
the rest Of the list with it. Free
reallZatlOn occurred, DuG tnelr erect
was not seen until the last
half hour when prices sagged off slightly;
the close, however, was very active and
strong at the highest prices OF the day. Out
side of Hooking Valley, which lost 9 per cent,
the declines to-day are few and unimportant,
while ST. Paul rose dig, the preferred, ga,
Burlington d Quincy, 2, Louisville & Nash
vile, rs, Lake Shore, IA, Northwestern,
lis. Omaha. 1 per cent, and the rest of the
list fractional amounts. The decision Of the
arbtrators in the Hooking Valley case made
the bonds of that company as conspicuous
for weakness as the slock and they slumped
badly. The SIS lost 3s4 at 80 on sales of
Sl01, 600, and the SIS, On very moderate bust
ness, 6 to 81. The general list was quiet and
irregular, though the Reading As contributed
$4,000 and the Ohio Southern incomes
S16S, 900 to the days total of 81, IS, 900.
There was no other features in the market
Governments were steady and strong. State
bonds we're dull and steady. The total sales
of stocks to-day were $685. shares, in
Guiding:
Del, Lac & Wal. $50 Northern Pac. 3,17O
Erie ...........11,4l \. P. pref. $1,000
Hooking Wiley Is, S2OIO Oregon Trans. IL $40
Lake shore >. 37.O6S Rich. 6SsW. p. GAO
Louis. & Nash. 6,439St. Paul. .....1S3, go
Missouri Pac.. $500 Union Pacific. III 100
Northwestern, A, 41OlWest Union..ll 345