St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-14
NATIONAL INVESTMENT c0MPANY
M . N ET TO Lo A n,
On improved real estate at lowest current
rates. No delays.
Room %, German-American Bank.
PETER BERKEY, President
C.G. JOHNSON. General Manager.
FINANCIAL.
New York.

New YORK, July 13.-Clearings. 500, $685.
076: balances, 81, 495, 0o2 Money on call
easy at 1@11a per cent. Prime mercantile
paper, SOC. Sterling exchange quiet
but steady at 81 for sixty-day bills and
81 SSI2 for demand. The stock market was
both more active and stronger to-day than
on any previous day for some weeks, and
the result of the days operations is to leave
the active list almost without exception ma
teri: v higher than last evenings figures.
The reaction yesterday led to the general ex-
pectation among the traders of a continu-
ance of a downward movement to-da, OH
the theory that the advance had eliminated
and realizationS were in order. But they
had miscalculated the extent of the
bullish sentiment and the number
of new buyers in the market, so
that after some attempts to hammer the
list down covering movement of large pro-
portions set in before noon. London had a
large number of buying orders at the open
ing, which gave the market most of its early
strength, but the feature of the days trading
was the buying by commission people who
have been IDLE so long. ST. Paul was the
center OF attraction to-day, and the upward
movement in it was early started by the call
ing in OF $1,000 shares of loaned stock for
shipment abroad; but Chicago was also a
buyer, and the reports emarfating from that
source were bullfsh in the extreme, ana the
shorts followed, which ran the total transac-
tons in this stock up to a high figure and
placed it in the lead of the advance. New
6uSEtuu WIS uHolutE SlTOlS Ciirel,aTQ the Fu-
mors of its purchase by the Vanderbilts were
freely circulated, though they were after
ward denied and the Improvement in
it was attributed to Boston account. The
favorable appearance of the trunk line
matter stimulated buying in these stocks, and
the Vanderbilts which sold ex-divldend to-
day. about recovered the dividend before the
close. Beside the advances in the general
list there were several sharp movements
among the inactive stocks, and Manitoba,
Chicago ST. Louis q Pittsburg preferred and
Green Bay were specially prominent All
weakness seemed to have disappeared from
the market at the opening. st. Paul and New
England started Off with the lead, and before
the end of the first hour both had advanced
over point The activity underwent some
reduction, but the strong tone continued and
Lake Shore and Lackawanna in turn came
to the front, and later the speeialties and Pa
eific Mail became prominent. There was a
slight reaction in the lasyhour, and San Fran
cisco preferaed, which was the only really
weak spot, dropped 1Ss per cent but the list
soon rallied again. and the market finally
closed quiet but strong at the best prices OF
the day. Everything is higher, and
st. Paul rose 21s, the preferred T.,
Manitoba ., Pacific Mail. Northwestern
and Rock Island 1Ia each, New England
1ssc; Lackawanna, Missouri Pacific and
Reading IAc each, Louisville & Nashville
railroad bond market was Quieter today
and comparatively devoid of feature, but a
strong tone marked the holdings, and most
of the lists are higher this evening, though Il
few bonds show material declines The
business done amounted to 81 ,33I 900, and
it was very evenly distributed among the
issues traded in. The advances include