St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-25
BANK OF MINNESOTA,
Paid Up Capital 100000;
Surplus s1oo, 900.
VIM. Dawson, Pres. Robt. A. Smith, v.
Pres. VIM. Dawson. Jr.. Cashier.
FINANCIAL.
New York.

New YORK, July 24.-Clearings, $780,
s70,066; balances S3,962, 1876; Money on
call easy at l@ll2 per cent, closed at 1l2;
prime mercantile paper, 406 Sterling eX-
change quiet but steady al 81 s6l2 for sixty
day bills. and SASS for demand. This was
another day of moderate activity in the stock
market, accompanied by a continuance of
the steady and gradual upward movement SO
noticeable in yesterdays dealings. The i'm
provement is recognized as the consequence
of legitimate buying for the long account and
very little manipulation is to be seen and the
scarcity of stocks for sale points TO the fact
that there has been great deal of stock
bought and taken away from the street. The
improved feeling has for its foundation the
unusually bright outlook for the crops, which
the extraordinary supply of money at low
to-day was largely by commission houses
while the selling was scattering and almost
entirely for the purpose of realizing the
profits accrued upon the use of the past few
days. The coal stocks, Union Pacific and
the grangers were the features to-day, while
the low priced shares while more active than
usual of late presented no special feature of
note. London was moderate purchaser of
Louisville d Nashville, on the late report of
Mr.. Dorsey, as well as Union Pacific and
others, through it sold Reading. There was
another batch Of bearish reports from Chi
cago. but they had little influence, if any,
upon the course OF prices. The East Tonnes
see and Norfolk d. Western stocks were quiet
pending the meeting of the joint committee,
but the Southwestern shares were all strong
on the favorable crop outlook in that region
New England was comparatively weak. the
selling in that stock being more concentrated
than usual of late The opening was active
and steady to firm most of the activeness
being unchanged, with the rest small fractions
higher and Omaha up ~ per cent The
market was strong from the first sales and
prices moved up rapidly during the first
forty-five minues under very good demand.
ana in that time Lackawanna and Consoli-
dated rose per cent and others fractional
amounts. Reading, New England and Rich
mond d West Point, however, were barely
steady. The market thus became quiet, and
while the tone remained strong, very slow
progress was made except for a squirt in St
Paul early in the afternoon. Toward delivery
hour prices sagged off under free sales, but
they recovered and the market closed quiet
but strong near the best figures. The great
majority of the active stocks are higher this
evening. The railroad bond market to day
was strong and higher throughout, but the
dealings presented little feature beyond the
activity displayed by the Fort Worth &
Denver firsts. which furnished S17O, 600, and
the Texas Pacific seconds, which contributed
1874, 600 to the days total of $1,365, 900.
The declines are very few in number and for
insignificant amounts, while Milwaukee,
Lake Shore d Western rose to 90; Kansas,
Harlem first coupon 212 TO 1882, and Texas
T. New Orleans debentureS6 6, to 104. Gov
eminent bonds were dull and steady. State
bonds were very dull and featureless. Rail-
road bonds have beer quiet, but generally
strong The total sales of stocks to-day were
2S2, S01 shares, including:
Del, Lack & W31 % lNorth'n P. pfd. 5,O14
Erie. 9,635iOr. Trans-Con. $500
Kansas & Tex. 1866 Reading. SOTO
Lake Shore. 4,l42 Rich. 4 W. Il. 1850
Louisville & n. 5,94I st. Paul. .45, 965
Missouri Pac... 4,6s0ITexas Pacific $500
Northwestern 4, 155 Union Pacific. 20. 800
Northern Pac.. 1912 Western Union 1872