St. Paul daily globe., 1889-02-26
FINANCIAL.
New York.

253. .l05; balances, $685., ,527; money on
call easy at 1902 per cent; closed Of
fered at 2: prime mercantile paper,
4@6; sterling exchange dull, but firm at
S4.S6L for 60-day bills and S4.SSs4 for
demand. The stock market was dull
and stagnant, except for few of the
leading shares. though there was a gen
eral heavy tone for most of the day.
The interest in the dealings was cen
tered almost entirely to the grangers
and Southwestern stocks, and London
was liberal seller of st. Paul in the
early trading, and the advices pointed to
the publication at that center of rumOrS
OF the passing of the dividend OH the
preferred stock, which induced free. re-
alizations by the foreigners, and a
the common and preferred stocks:
but as the dividend is not due
until April and the action by
the directors can not be taken
until next month, there was a diSpoSi-
ton to buy the stock upon the decline,
especially by the Western contingent:
and. after the first drop, the price of the
stock was very well held. Dispatches
from Chicago, stating that the Missouri
Pacific and Union Pacific had not signed
the agreement Oh Saturday, were cir
culated, and had considerable effect
upon the first-named stock, which was
afterward extended to the other South
western, but these stories were after
ward disproved, and better feeling
prevailed toward the latter portion OF
the afternoon, which neutraliZed to some
degree the sharp losses of the early
dealings. The bears, however, did not
abandon the search for weak spots, and
a heavy drive was made against the
coalerS in the afternoon, of which Read
ing bore the brunt and was forced
off a fraction, while the losses in
eral of the specialties, however, were
found more vulnerable, and Oregon I'M
provement again fell an easy prey,
dropping per cent on very light tran
SactionS. Manhattan, St. Paul d Du-
luth and Rome, WatertOwn and OgdenS-
burg all gave way and showed material
losses at the lowest figures; but the
strong point in the list was the Wander
bilts, though all were very quiet, and
with the exception of c., c.. G. 81 l.,
wqich rose over point and half,
moved within the narrowest limits. First
prices were almost invariably lower,
though only st. Paul, with a loss of 81,
and Missouri Pacific, with l per cent,
were specially prominent. In the early
dealings st. Paul and Cotton Oil were
prominent for weakness, and the latter
dropped point, but the move
ment in the rest of the list
was confined to the smallest frac-
tions. without perceptible tend
ency in either direction, and after the
first half hours business the market
sank into pronounced dullness, with an
nxyir fan NV o,d
drive at the coal stocks made after 10
O'Clock and the influence of the same
extended to the general list, which
sagged off slowly, while Manhattan and
Oregon Improvement made decided de-
clines. Towards delivery hour there
was some improvement, however, and
after that time steady tone marked
the limited transactions, the market
finally closing dull and steady at about
opening prices for the great majority
of the stocks dealt i'll. c., c., G. q l.
shows the handsome advance of 2s5 per
cent, but the rest of the list, almost
without exception, is lower, and St.Paul
lost 4, Pullman and Reading each
per cent, and others fractional amounts.
The railroad bond market was unuSu-
ally dull to-day. the total sales OF
all issues aggregating only Sl.O07,--
UU0, Wnlcn was quite evenly distributed
among the issues dealt in. The same
lack of feature which distinguished the
trading in shares, was show in the bond
market, and while some heayiness was
apparent in the forenoon, better tone
prevailed toward the close. The final
changes are irregular and the important
ones are few in number. Among those
which are higher. Henderson Bridge
firsts rose 211a to Ill and Manitoba con-
soils to 100. Government bonds have
been dull and steady. State bonds have
been dull and steady. The total sales
of socks to-day were 166,650 shares. in
Guiding: Atchison, 6,430; Delaware,
Lackawanna & Western, 9,455; Lake
Shore, 3.423; Northwestern, II. .5S3; Mis-
souri, Pacific, 400; Northern Pacific
preferred, 2,O94; Oregon Transconti-
mental. 5,133; Reading. 1S.300; st. Paul,
90 6ha. IIninn Pacific G 463