St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-07
FINANCIAL.
New York,

New YORK, Feb. 6.-Clearngs, S69,5S7,-
2O2; balances, S4,438, 052. Money on call
easy at 26D4 per cent: last loan, 81 closed at
2@3. Prime mercantile paper. soy. Ster-
ling exchange dull but steady at 81. 1914 for
SiXty-day bills and 4.S514 for demand. The
stock market while dull, displayed I'M
doubted strength to-day, and that in the face
of unfavorable advices from several sources
and prices are left fractionally higher in
most cases. The news of the morning was
calculated 10 have very depressing effect
upon values, and the reports from the other
side OF the water caused free selling by Euro
pean houses but there were supporting
orders i'll the market and more general COM
mission orders than have been placed on any
day during the past six months. The extra
ordinary demand for stocks in the loan crowd
and the liberal borrowing indicated very
heavy short interest in all the active
stocks and purchasing for both sides of the
account kept the market slowly moving up
ward. The later adviceS from Europe also
had a reassuring effect upon the foreigners,
and they in turn became buyers, while the
untavorable aspects of the Reading strike
ana the railroad war i'll the Northwest, whose
very tercenesS indicates that it will be of
short duration, made put little effect
upon the stocks most interested. There was
large inside buying of Western Union on the
ground of heavy increase in the earnings,
but the other Gould stocks were not SO firm
ana considerable impression was made upon
Missouri Pacific. 1t is positively announced
that Mr.. Gould will return, as at first stated
by the middle of March, instead of April, as
published this morning. Manhattan to day
reacted somewhat from the depression of
last week, and late in the day the others
Sufened up. LackaWanna and Reading
were firm all day long, and the dealings in
st. Paul attracted much attention. though the
fluctuations were small. Prices at the OPEN
ing were down from rs to y per cent, and
with the exception of Missouri Pacific and
northwestern, the entire list quickly rallied
but after advancing small fractions became
dull and Hstless Western Union, however,
assumed the lead toward noon, and
III her gains were recorded. In the af
ternoon marked weakness was developed in
Union Pacific, the traders selling it down
until a stop order was reached, when they
Jumped on it and forced it down over ! per
cent. When the pressure was remove d,
however, 1t reacted and its final change is
insignificant. a firm tone marked the deal
lngs for the entire day, and the close was
dull but firm at about the best prices reached,
Final prices are irregular but generally
higher and only fractionally changed, eX-
cept Manhattan, which is up 1ss per cent
Railroad bonds were quiet Sales, 81, 122,-
600, and for the first time in many weeks
the market was positively weak, though the
declines were not generally for important
amounts. The losses were generally made
at the opening, after which prices were we'll
held, except in few special cases. There
was improvement in quotations and most
issues are slightly lower this evening. Gov
ernment bonds were dull and steady. State
bonds were neglected. The total sales of
stocks to-day were 1871 shares, in
Guiding: