St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-28
FINANCIAL.
New York.

New YORK, Nov 27.-Clearings. Sl139S2 :.
240: balances. 81, 66S. 692. Money on call
<; closed offered at per cent. Prime
mercantile paper 667I2. Sterling exchange
quIer ana steady at 81. SJt4 for sixty day bills
and 81 for demand. A quiet stock market
was generally expected to-day, and. as far as
the general list was concerned, this expecta-
ton was realized. the trading being of the
retail order. while large number of brokers
having gone away over the holiday, there
was slim attendance at the board. There
were the usual few exceptions. but the stocks
throughout the day, and the fiuctu-
atiOns were on the same plane
with the dealings, being confined
to even a smaller range than usual. The re-
ports from the great fire at Lynn, Mass, had
a depressing effect upon the opening, and
first prices were in most cases slightly lower
than last evening. and though the list was re-
markaby well held. realization of profits
forced a net decline of per cent in Denver,
Texas g. Fort Worth, bringing the stock
again to the lowest point for week. Mis-
souri, Pacific was subjected TO pressure again
from the bears and II yielded over per cent
Tennessee coal went mp with rush. and
reached still higher prices, touching S54,
but IL as quickly receded, and dropped nearly
5 per cent from that point, closing at its low
est figure. This was all there was to the gen.
eral market interested, which was COM
pletely ObSeured by the effect of the
decision rendered yesterday by the supreme
court of Illinois in the case of the Chicago
Gas trust The decision reversed the decis-
ion of the lower court and held that the
trust in acquiring control of other companies
had done n unlawful act and although the
decision does not effect the property of the
trust in any way and cannot prevent the sale
of the properties TO II in any way
it may eject the affect of the news upon
the holders of certificates was to cause a
panic in the stock, and opening at % against
55l2 last evening it suddenly dropped 10 43ls
before check was put to the decline. Two
brokers were especially prominent in the
selling, and one stopped at AZ. when a
slight rally occurred, but the drop
was soon resumed ana 1873 was
reached, when rally of about 3 per cent
took place. Chicago houses had liberal sell
ing orders. and the only buyers seemed to be
the shorts, who were extremely cautious in
their bidding. The other trusts were fairly
well held with the exception of Sugar, which
yielded nearly per cent The market at the
close was quiet. but rather heavy at a shade
better than the lowest price. Only one fail
ure occurred. and the firm stated that they
had no outstanding contracts on the ex-
change. and no connection with the drop
could be established. The list is all lower,
though the changes are generally for slight
fractions. the exceptions being Chicago Gas,
per cent, Denver, Texas and Fort Worth,
2I2, Sugar Refineries, 2A, Missouri
Pacific, lis, and Cotton Oil ana Tenn
essee Coal per bent each. The sales in the
unlisted department footed up 56.5"2
shares, of which Sugar Trust contributed
%, 80. There was the usual quiet business
in railroad bonds. and little or no features
marked the dealings throughout the day.
The sales reached 81, 1903, 600, with no special
animation in any one issue. The tone of
the dealings were rather heavy, but prices
were well held and the final changes are gen.
orally of no Importance. Government bonds
have been dull and steady. State bonds have
been dull and steady The total sales of
stocks to-day were 1877, 736 shares, includ.
ing: Atchison, Is, 500; Delaware, Lacka-
wanna q Western, 6,6lS; Denver, Texas d
Fort Worth, 1910; Missouri Pacific, Ii, 995
Northern Pacific preferred. 6:63S; Reading,
1890; st. Paul. 1860: Union Pacific.
13.46J; Western Union. 3.439