St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-11
FINANCIAL.
New York.

NEW YORK. July 1O.-Bank clearings,
S11I.996. 33l: balances, S3.462, 7l3: Money
dull. but steady with actual business at
S4S7 for sxty-day bills and 81 SSl2 for de-
mand. The stock market to-day was not
only more active, but broadened out con-
siderably and was firm to strong almost
throughout the entire day. The belief that
the trunk line difficulty would not be of long
duration made considerable progress yester-
day and the general feeling this morning
was favorable to an improvement in quota
tons and the market at the opening was
strong and more active than usual of late, the
traders being buyers as were also the foreign
ers to limited extent, while commission
houses had some outside orders to buy.
The result was marked strong tone
to the speculation and prices made
good progress toward higher figures A
rumor was circulated that the cable war had
been settled, which brought in many buyers
for Western Union and that stock Imme-
diately took the lead in the upward move
ment on a large business. The story was
afterward denied officially, which had the
effect of restricting the trading in Western
Union during the afternoon, but had no ap-
parent influence upon the general bullish
sentiment. Further positive denials of the
recent reports of the illness of Mr.. Gould also
tended to stimulate the buying for the long
account and after the issue of the govern
ment crop report the activity in the market
the greatest attention was transferred to the
Changers, and st. Paul became the special
feature of the day. Round amounts Of the
stock changed hands, and the Chicago party
was buying the stock, which induced many
of the traders to switch over to the bull side,
ana the advance was terminated only
with the close of business. Several of the
specialties made sharp gains, among them
Chicago, st. Louis d Pittsburg preferred aud
St. Louis Arkansas Il Texas. The open
ing sales were made at advances over last
nights prices extending to Ss per cent, and
Western Union soon took the lead. There
was some reaction toward noon. accompanied
by a reduction in the amount of business
done, but st. Paul came to the front and the
advance was resumed and continued until
after 1 O'Clock, when hal was called, though
no reaction took place. Again the upward
movement was resumed toward 2 o'clock,
and q more general advance continued until
the close, which was active and strong at the
highest prices of the day. The active list is
without exception materially higher this
evening and Manhattan is up 2l2, St Paul
Northwestern 1Ss, Burlington & Quincy,
Louisville & Nashville, Missouri Pa
cific, Northern Pacific preferred, San Fran
cisco preferred and Western Union
shore 1 each. The railroad bond list was
again moderately active, with sales 1882
900. The Texas Pacific seconds furnished
sos, 200. The market was firm to strong
throughout tue uds anu TIE Illl;tl changes are
almost all in the direction of higher figures,
though generally confined to fractions Den
yer 4 Rio Grande Western firsus rose 3s4 to
rs; Milwaukee, Lake Shore Il Western con-
vertibles, 2I2 to 90: Richmond d Danville
consols fives, 2l2 to 81, and Iron Mountain
fives to 81. Government bonds were dull
and steady. State bonds were active, but
steady. The total sales of stocks to-day were
225, Ill shares, including:
Del, l.. & w.. 1924 Oregon Trans. 200
Erie. 1920 Reading .......2S, $40
Lake Shore. 90. 4.725 st. Paul. .......49. SOS
Louisville d n. 3,500ITeXas Pacific. 1850
Missouri Pac. >. IL .260 Union Pacific IT, 500
Northwestern. CTS Western Union. II AS
N. P. pfd. ...... L, 55u