St. Paul daily globe., 1888-07-18
NATIONAL INVESTMENT COMPANY
MO EY TO Lo A N,
On improved real estate at lowest current
rates. No delays.
Room 2S, German American Bank.
PETER BERKEY, President
C.G. JOHNSON. General Manager.
FINANCIAL.
New York,

New YORK, july 17.-Clearings, $780, 49,
642; balances, S4,325,0 ,041. Money on call
easy at 1@Il2 per cent: last loan 1l2. closed
offered at 1la. Prime mercantile paper, 40
6I2. Sterling exchange quiet, but steady
and unchanged. The stock market to-day,
except in a few special stocks made no prog
ress in either direction of importance,
though a fractional decline in the early trad
ing was followed by full recovery. The
market then subsidized in the duh and listless
state SO prevalent a short time ago, and de-
veloped no further feature for the remainder
of the day. There was, however. renewal
prices above the level of the forenoon. The
traders expected further decline this morn-
ing, i'll which London selling was to
figure largely, but the feeling abroad
the Iowa case had been decided in favor of
the railroads and London prices came higher
this morning, and the foreigners were buyers
of their specialties. The attack was made
upon the list, however, and for short time,
some impression was made upon prices,
though in no case did it exceed fraction
The domestic buying was good. and Phila-
delphia is credited with taking line of the
Willard stocks, which were marked feature
of the days operations. and it said that the
buying is connected with contest for con-
troll at the next annual meeting between the
Wright and Willard factions. The announce
ment that the East Tennessee directors
would declare q dividend on the first pre-
ferred stock stimulated the buying in Rich
mond & West Point and the preferred was
the special feature of the day, advancing
steadily throughout, and its unusual strength
had good effect upon the other Southern
properties all of which were comparatively
Strong and active. : Louisville was freely
taken for London account and shows a ma
terial gain this evening. The coal stocks,
outside of Reading, were rather dull, but
Jersey Central spurted up on the advances
in the prices OF coal and trunk line stocks,
were featureless throughout The news OF
the day was generally of favorable nature,
the reports from the growing crops, the dis
position shown by the trunk lines to discon.
tinue the war on rates and the reported prog
ress towards a settlement of the Burlington
& Quincy matter all helping in the general
bullish feeling. The first sales were made at
advances over last nights closing prices of
from ls to So per cent generally. while Louis
vile d Nashville were exceptional, with
gain of 1 per cent. The traders, however
forced prices off in the early trading from u
to "a per cent, but the buying was too strong
for them, and before the end of the hour
most of the losses were regained, and by
noon, when the market became dull and
featureless, the majority of the list showed
advances. period of dullness and
stagnation followed, but in the last hour
there was renewed buying, chiefly to cover
and the best prices Of the day were reached.
| The close was quiet but firm to strong at
| about the highest figures. The active list is
| invariable higher this evening, though most
Of the gains are for small fractions only,