St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-03
FINANCIAL.



NEw York, Nov. 2-Bank clearings to-
day, SlG5. OS9.0l6; balances, SS,l73.SI7;
Clearin"s for the week. 1892 903, 3l7; bal
anees. S3l, 650,05l. Money on call ruled
tight with no leans, closed offered at Is per
cent. Prime mercantile paper, 5l2@S.
Sterling exchange dun. but steady at Si.sl
for siXty-day bills and S4S5 for demand.
The stock market was fairly active to-day,
with the trusts less prominent in the trading,
though, with the exception OF missouri
Pacific, there was no real activity in the rail-
road list. There was considerable anxiety
over the bank statement, ana before its issue
opinions differed rs TO its complexion, and
the disposition was 10 await Its publication.
The bears in the meantime made
another demonstration against the trusts and
both cotton oil and lead were knocked down
below the lowest figures of yesterday. An
other weak spot in The market was Missouri
Pacific, which with Chicago Gas trust, failed
10 recover with the rest of the market. The
traders were inclined 20 work for rally, but
the bears continued 10 hammer the list, ana
after steady opening. the pressure upon
the three trusts and Missouri Pacific, which
caused declines in those stocks of from l 10
IA per cent, was felt i'll the rest of the mar
ket. and sympathetic losses of small fractions
were the rule. The attack was met by good
buying, and before IL O'Clock the lowest
prices generally had been reached,
and a material rally began, which, i'll
many cases brought prices again TO
Nuu duOhG inc IcNCl VI tuC OPCH-
ing figures. The pressure upon Missouri Pa
cihe was relieved. however, and that stock re-
manned at its lowest, which afterWard
affected the general list and the market final
y closed active and weak generally at frac-
tional losses from the opening prices. The
final changes are fairly well divided between
gains and losses and are for small fractions
in most cases. the only important ones being
losses OF lss in Missouri Pacific and II i'll
Chicago gas. Railroad bonds were compare
= L.. ~.
two hours reaching S726, 600. The market
failed 10 develop any feature of interest.
Sales of bonds for the week S6.S61 600.
against ST. S37 900 last week. The Posts
financial article says: The ventilation OF
the affairs Of the Cotton oil trust
in the last few days has resulted in the in
formation that the concern, though not earn
ing so much as was reported, has earned. &C
cOrding 10 the annual report, about per
cent on the stock, and this, together with the
move being made by the appointment of so
reSpcctable,-a committee as Messrs. OIcott,
Thomas. Adams, Sheldon, Benedict and Bull
TO formulate plan for turning the trust into
regular stock company and merging II with
the American Cotton Oil company has done
a good deal TO establish q degree of conf
dence in the certificates, and has removed an
element of disturbance from the general
stock market. The bank statement was COM
paratively favorable. in that it shows banks
have not increased deposits, but that
dS consequence lueN uslNG DeSuH
TO eXpend their loans little
again, and yet the surplus reserve shows a
slight decrease. The interest and dividend
disbursements for Nov. began so late in the
week that they had almost no effect on the
averages of the banks for this week, but will
doubtless show much more largely in next
weeks bank statement; even now the bank
statement shows that there has been turn
toward an easier condition of the money
market and though il has not been apparent
in the rates tor new loans in the last week, it
is likely TO become so next week. Govern
ments dull. State bonds entirely neglected.
The exports of specie from the port of New
York last week amounted TO Sl2l.2S4, OF
which 500, $50 was gold and S3JS, pa silver.
All the silver went to Europe and the gold to
South America. The imports of specie for
the week amounted to S35i, 3372, of which
1901 S93 was in gold and S49, Az in silver.
The total sales of stocks today were l52,
$50 shares, including: Delaware, Lacka-
wanna 4 Western, 2,40O; Denver, Texas &
Fort Worth. 3.679: Lake Shore. 2, 2GO;
Louisville u Nashville, 3, 100; Missouri Pa
ciic. 23,265; Reading, 300; Richmond &
West Point, 3,0O5; st. Paul, l. 100; Union
Pacific, $500; Western Union, 1910