St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-05-09
Fl NANCIAL.
New York.

New YORK, May S-Clearings, $50, 234,
999; balances, S5,9S7,615. Money on call
easy at 1902 per cent; last loan, 2; closed
at 1l2@2; prime mercantile paper. sos per
cent. Sterling exchange active and strong at
81. S6l4 for siXty-day bills, and S4SSS4 for
demand. The stock market was again only
moderately active and generally weak, though
there were spurts of animation during the
day, as we'll as marked recoveries at times.
The influences at work upon the list were
mostly i'll favor of lower range of values,
the principal'One being the selling of stocks
in this market by the foreigners induced by
the higher rates for money in London with
the expectation of an increase in the dis
count rate Of the Bank Of England next
Thursday. The local bears hammered the
list, especially in the forenoon, and much
was made of the engagement of S2oo,O0O
gold for export, though the rates Tor eX-
change at present do not warrant such ship
ment and it is well understood to be a spe-
cial lot. Other influences, such as
the illness of the emperor, the
recent Coleman failure and the small
acceptances of bonds by the treasury to-day
had some egect in producing general bear
ish feeling. Some stocks, however, were
IF tcted by special causes, among which may
be mentioned Manhattan, which was sold
dow on the story of an issue of bonds to
settle the damage suits by properly owners,
and Chicago, Burlington Il Quincy, which
was affected by story from Chicago that
there was Il probability of the passage OF the
the continuance of the strike. Richmond Il
West Point was also specially weak for no APP
parent cause. The opening was decidedly
weak at declines from last evenings figures
ranging up to S8 per cent, and further losses
were sustained in the first few minutes, while
Missouri Pacific, Manhattan and Richmond
d. West Point were specially weak, losing
over point each. New buying was brought
i'll at the low figures, however, and prices
were soon started up on the up track, but
this demand was soon satisfied, and another
decline sent prices to the lowest of the day
before noon. All animation disappeared
from the list after that time, but a general
bear pressure, and prices were once
more brought up to the neigh
bornood of opening figures. There was
more activity in the last hour, however, and
the market again yielded. finally closing
heavy. The active list is invariably lower,
and Burlington IL Quincy lost 3l2 Richmond
d West Point 2SS, Manhattan ll2, Reading
Shore and Missouri Pacific 1s each, and
Canada Southern l per cent. Railroad bonds
were quiet and prices were irregularly
changed, the tone being steady almost
throughout the entire day. Burlington d
Quincy Nebraska Is were active, and fur
nished SlS9,000 out of total days business
OF $1,275, 900. Illinois Central is lost at
l04. Government bonds were quiet but
steady to firm. State bonds were dull and
steady. The total sales of stocks to-day were
2S4, 667 shares, including:
Can. South'n.. 5,170IN. P. pfd 49,. 1900
D., L. d w. ID, 100IOre. Transc1. %, 075
Lake Shore .,.10,5 81 Rich. i W. P..i9'575
Missouri Pac. 70, 300 Union Pacific. 30, Is5
Northwestern 4.750 Western Union. Il ,439
N. Y. Central. 3,100