St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-27
BANK OF MINNESOTA,
Paid Up Capital 100000;
Surplus 500, 900.
VIM. Dawson, Pres. Robt. A. Smith, Y.
Pres. VIM. Dawson. Jr. Cashier.
FINANCIAL.
New York.

NEW YORK. July 26.-Clearings, S94,-
945 945: balances, si,52o, 225. Money on
call easy at l@1l2 per cent, closed at 1@1l2
per cent. Prime mercantile paper 4@6
per cent. Sterling exchange quiet and
weak at 81. Sc for GO, day bills and S4.Ss for
demand. The stock market was quiet but
feverish and generally weak in the forenoon
to-day, as the traders, the bears and the
bulls, who have lately realized the profits
accrued, were all working for q reaction and
they succeeded in getting prices off tract
!onaI amounts. But the news Of the decis-
ion of Judge Brewer granting the injunc-
ton against the Iowa railroad commissioners
seconded by the dividend of per cent on
the stock of the Louisville d. Nashville,
which the street seemed TO have forgotten
about, effectually turned the tide and buying
buoyant tone marked the transactions for the
remainder of the day, and the losses of yes
terday were not only wiped out but addi-
tional gains were scored. The shorts be-
came frightened and took in their contracts
on liberal scale, while the bears werepow-
erless to stem the tide OF purchases. Chi
cago was seller of the grangers during the
forenoon, on the decision of railroad en-
ployes at ST. Joseph to continue the boycott
upon the Burlington & Quincy and some
further small cuts in rates, but changed
front rapidly after the announcement of the
decision, and the grangers led the upward
movement. London bought Louisville q
Nashville heaVily,and its gain was very sharp
upon the announcement of the dividend, and
they also took Union Pacific and Reading,
which was well supported at the bottom fig.
ures. Richmond Terminal preferred made
some sharp fluctuations and closed with a
material advance, but The dealings in the
rest of the list were of no material interest,"
though the San Francisco stocks were nota-
bly, strong on the prospective heavy earnings
and talk Of a dividend. Notwithstanding
the fact that first prices were higher this
morning, all vim seemed to have departed
from the market the activity being confined
IN q fQyy Sfn alyS nd no i, 1nff
slowly. Some recovery was made during the
first hour. but dullness and stagnation sue
ceeded auCweaknesS set lnlagain towards
noon. The lowest prices of the day were
reached shortly after that time however
when the dividend on the Louisville & Nash
VILE suddenly jumped that stock up Ia, and
the movement spread to others, especially
Reading, st. Paul, Union Pacific and Lacka-
wanna. The movement eliminated before
/ p. m, and the market once more became
dull, but the news of the Iowa decision
again infused activity and strength into the
trading, and an advance was inaugurated,
which ceased only with the sound of the
gong. The close was active and strong at the
highest prices of the day. There was less
animation in railroad bonds to-day, and less
character to the dealings, some hesitation in
the forenoon being followed by a mild up
ward movement toward the close. Most is
sues are higher this evening, but important
gains are few in number. The days bust
ness aggregated 81, 423. 600, out of which
$165, 900 were in Fort Worth & Denver
frsts; S137, 900 in Erie seconds and S121,-
900 in Texas Pacific seconds. Indiana,
Bloomington d Western firsts rose 5I2 to
S2la and Belleville d Illinois firsts 9 to Il9
Government bonds were dull but firm. State
bonds were very dull and steady. The total
sales of stocks to-day were 229.5O1 shares
including:
Del, Lack & WI so 1INorth'n Pac pr. 1905
Erie. 80. 5,310lReading 80, 1876
Kansas q Tex. 5000 Rich. u W. P. 5000
Lake Shore. -. A, 350lSt. Paul ......35,7 10
Louis. IL Nash. Ia. 4S5 Union Pacific. IA, $50
Missouri Pac... 3,550IWestern Union 1887
Northwestern. 5,400