St. Paul daily globe., 1889-02-22
FINANCIAL.
New York.

NEW YORK. Feb. 21.-ClearingS, $115,-
123. .527; balances. S6,259, ,294. Money on
call easy at 11a@ 2 per cent; closed
offered at 2. Prime mercantile paper,
4@6. Sterling exchange dull, but firm
at $4.S6l4 for TO days and $4.SS31 for de-
mand. The stock market was some
what more active to-day, but the i'm
pfovementin the amount was had at the
expense of values. the bears again hav-
ing the making of prices and the market
was weak and declining throughout
most of the day. The fact that there
will be only two hours OF business be-
tween this evening and Monday
morning deferred many from
was therefore left almost entire
ly to the trading element, though the
local and Chicago bears were quite ac-
tive in getting the list down. The
pressure was, of course, quite heavy
against the grangers, and the South
westerns. the belief in some quarters
that Mt. Gould has no confidence in the
situation leading to the selling OF Mis-
sourl Pacific and Atchison, while the
coal stocks again came in for
marked attention. Missouri Pacific
made the widest fluctuations and
showed most weakness. and its lowest
was IL per cent off. Among the other
shares, however, the fluctuations were
small and unimportant. though the
weakness extended to all parts of the
list. In the Iow-priced shares, the Den
yer, Texas & Fort Worth ctfs developed
marked weakness and retired as much
as Missouri Pacific, on a much smaller
business. No other feature of any kind
marked the limit-dealings, except the
recovery Of Burlington, when the press
ure was lifted and the covering Of shorts
put out in the early hours began. The
first prices were from IS to B per
ures and after further losses.
in which Missouri Pacific and
LackaWanna were most conspicuous,
there was a reaction which brought
most stocks to about the level of open-'
ing figures. The downward movement
was soon resumed. however, and toward
noon there was more animation and the
weak tone became more pronounced,
with the pressure heaviest against the
grangerS and coal stocks, which the
Gould shares were for time we'll held.
Burlington, Rock Island, st. aul, Jer-
sey Central and New England became
prominent for the losses sustained and
the lowest prices were generally
reached toward 2 p. m.. after which
there was a pronounced rally, which
reached almost everything, and under
the lead of Burlington, a fair proper
ton of the loss was regained. The
close was quiet, but firm. The entire
active list is lower tonight, but the
only marked losses were Missouri Pa
cfic 1ss and Denver, Texas & Fort
Worth II cents. The weakness III
shares extended also to the dealing
in railroad mortgages, while the busi-
ness done was much smaller III proper
ton. The sales of all issues reached
$1.659, 900, out of which Chicago gas and
coke frsts furnished S294'OOO and Erie,
seconds 100000. The tone of the deal
ings was heavy from start to finish and
most of the issues traded in are lower
tonight. The important losses i'll
clude New York and Northern seconds,
2 at so. Government bonds have been
dull and steady. State bonds have been
dull and featureless. The total sales
of stocks to-day were 242, ,467 shares, in
.eluding: Atchison, 19,493; Delaware.
LackaWanna & Western, 1880; Erie,
22s97O: Lake Shore. 1920; Missouri
1S.l05; Northwestern, 1000;
Oregon Transcontinental, $500; Read
ing, SO, zoo: Richmond 81 West Point,
$50: st. Paul, 14,200; Union Pacific,
II. 1928: Western Union, 9b10.