St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-01-28
PAID UP CAPITAL
FINANCIAL.
New York.

New YORK, Jan. 27-Clearings to day
were Ss3,972, 4O6; balances, 81, 347, 529.
Prime mercantile paper 5@7. Sterling ex-
change dull but steady with actual business
at "a S4l. for sixty-day bills and 81. s6s4 for
demand.
The lately issued reports of the dividend
paying roads, which show net earnings large
ly in excess of dividends paid and large
cash surplus and accommodating. told on the
prices of stocks to-day. and the market adj
vanced easily OH light purchases, notwith-
standing the fact that the cliques were mod
crate sellers throughout the day. The coal
stocks received most attention and late in
the day Jersey Central became the special
feature, making the heaviest advance for
the day. Missouri Pacific was largely bought
by insiders, and Fort Worth d Denver was
strong ON the same kind of buying. There
was more foreign buying than has
been noticed OF late, and the Ger
mans were purchasers of Texas Pacific,
while London took Union Pacific and Read
ing. The covering of shorts was factor in
the improvement made, brokers identified
with prominent bear houses being conspicu-
GUS buyers in every crowd. The market
broadened perceptibly, though the principal
element is still the professional trader. The
opening was quite dull and generally steady
this morning and there was no marked
feature in the list until after the first hour
though the tendency was toward better
figures. Toward noon some animation was
infused into dealings and more rapid pro-
gress was made in the upward direction
After that time, however. the list sagged off
slowly and became extremely dull until the
last hour Jersey Central came to the front
and moved up rapidly on largely increased
business; the general list felt the stimulus
toward the end of the session and the market
finally closed quiet to dull but firm, at small
fractions better than first prices. Almost
everything is higher tonight, the few de
cllnes being for insignificant fractions only,
while Jersey Central rose / a Manhattan ] !;
Delaware d. Hudson, Fort Worth d Denver,
Norfolk Western preferred and
Texas Pacific rs per cent each.
The demand for investment bonds still con
ceeded those of any day during the present
only prominent speculative issues were the
Burlington d Quincy Nebraska as which con-
tributed 1888, 900, and the Nickel Plate As,
which furnished S148, 900 to the days total
The market gained strength continually and
almost everything traded in shows material
advance this evening. Lackawanna rs of
1907 rose 27s to 1873; Rensselaer, & Saratoga
is, 3 to IN: Harlem rs registered 3A to 1873:
Norfolk & Western general IS, 9 to 115l2
South Pacific, of New Mexico, Is, 2 to 1914
and Wabash-DetrOit 6s, to log. Govern
ment bonds were dull, but firm. State bonds
were duh and steady. The total sales of
stocks to-day were 196, 1854 shares, including:
Del, Lack. & Wis, O16lN. J. Central . $3.50
Del. q Hudson. $500 Reading ... 29, 400
Erie. $50 Rich. & W. P. 3.265
Lake Shore. 80. 3,2SOlSt. Paul. ......35, $50
Lou. q Nash =. 6,310l Texas Pacific. 4,18O
Missouri Pac... 1925 Union Pacific. $500
Northwestern. 5, 10 West. Union... 1920