St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-07
FINANCIAL.
New York,

New YORK, July 6.-Bank clearings to day;
$50, l77.056: balances, S4,792, 442. Money
1ls. Prime mercantile paper, 3@6 per cent.
Sterling exchange dull, but steady and I'M
changed. The stock market awoke from its
stagnation to-day, and though the transac-
tons OF the day do not foot up any very large
amount they are greater than the previous
three days Of this week put together. There
were good buying orders in the market this
morning, and commission houses again APP
peared as purchasers, which gave the
appearance than it has possessed for
some time. at the same time
Chicago sent buying orders in the Changers
and an interview with Mr. Armour. in which
he expressed very decided bulliSh views on
ST. Paul, gave that stock the lead. and though
the bears matched the interview with a dis
patch saying that the gentleman mentioned
had not bought share of st. Paul, it failed
to have any appreciable- effect upon the
course of prices. Naturally the grengers
took the first place in the dealings. and Rock
Island became conspicuous for its strength,
followed by the Northwestern and the rest.
The Gould stocks came next in prominence.
Manhattan and Missouri Pacific being
very strong, and the latter quite ac-
tive once more. The shorts ran to
cover and swelled the volume of business,
though the advances made are out of all
proportion to the transactions recorded The
Oregon stocks and Northern Pacific preferred
were features the announcement that The
syndicate had sold the rest of the third mort
gage bonds in Europe creating demand for
the aforementioned stock. The dealers were
not far behind the leaders, and Lackawanna
was specially prominent especially in the
afternoon, advancing rapidly. while Reading
was comparatively quiet The opening sales
were made at small advances over Yesterdays
final prices and the market began TO advance
Immediately. with Rock Island and Oregon
Improvement especially strong, while all The
usually active list made marked gains.
There was very fair business done during
the morning hours ana most of the advances
were made before noon, but while there was
a marked falling off in the amount of bust
ness done after that time, the firm tone con-
tinued throughout. with Lackawanna, St.
Paul and Missouri Pacific leading in turn.
No setback of importance occurred and the
prices. of the day. Pullman Palace
chr was exception in showing
loss this evening, being lis per cent
lower, but Manhattan rose 9: Lackawanna.
Oregon Improvement and Missouri Pacific
Ias each; Rock Island. I12: st. Paul and
Lake Shore and ST. Paul. preferred, per
cent each. The recent disbursements for in
terest and dividends began to show in the
increased demand for good bonds to-day,
and the total sales reached 81 ,679 600, OF
which Texas Pacific seconds contributed
S12S,000. There was a good supply,
however, and though the tone of the deal
ings was firm TO strong throughout the day
the final changes in quotations are generally
for fractions only. The important advances
include Northwestern debentures to no;
Detroit Mackinac and Marquette land grant
8 to 81. and Utah Southern general sevens,
2 10 100.
Government bonds were dull and steady.
State bonds were dull and steady. The