St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-01-30
FINANCIAL.
New York.

NEW YORK, Jan. 2o.-Clearings s117. $685.
574; balances, $1,000, 844. Money on call
easy at 1ls@2 per cent; closing offered at
2. Prime mercantile paper, 406 per cent.
Sterling exchange quiet and steady at 81. S6H
for sixty-day bills and $4.SSs4 for demand.
The stock market to-day reflected some of
the strength and activity which has been
shown in the bond market of late, and not
distribution of business, but stronger than it
has been for some time. The great move
ments of the day were chiefly due to the
covering of short contracts in the .grangers
and coal stocks, which have been for some
time past subject to steady pressure of
short Stock the former being helped by the
progress made in the conference of the
presidents at Chicago, and the latter
10 some extent by the colder weather.
More inquiry was noticeable for the
dividend paying stocks, however, and
all the marked advances OF the day were
made in that class of securities, and espe-
cially in the low priced ones Pullman was
noted execution, and after reaching the high
est price yet, 1919, it reacted, although there
was lack CT rumors in regard to the future
policy of the company, doubling of the
stock with per cent dividends in the fut-
ure being the story commanding most atten-
ton. Lackawanna and Reading were spe-
cially prominent for both activity and
strength. aud there was good buying of both,
although neither closed at its best figure.
Atchison was again active, but the trading in
the stock is now confined principally to the
professional element, and its movements to-
day were not specially significant. Missouri
Pacific attracted more attention than usual of
late, and in view of the position of Atchison in
a financial way, there is even now consider
able speculation as to the complexion of the
Missouri Pacific statement to be issued in
March. The stock to-day moved with the
general list and showed no special feature.
Among the low priced dividend payers the
Big Four, Wheeling & Lake Erie and Lake
Erie & Western preferred were very promi-
nent for the advances made, which were all
on largely increased business. The open
ing figures were generally steady, though
some advances were shown which extended
to Ss per cent, though Atchison was Off as
much. The early dealings were rather un-
settled, and most of the list were carried
down slightly below the opening prices. but
the strength shown in the specialties later
spread to the remainder, and the market
moved up slowly under the lead Of Atchison
and Lackawanna, followed later by
Reading and Missouri Pacific. The i'm
provement was slow and continued al
most without interruption until toward
2 D. M, when the best prices of the day gen:
orally were reached. A slight set back in the
last hour followed, but it was of short dura-
ton, and the market finally closed quiet. but
firm, at fractional advances for the day. The
afternoons dealings were marked by the re-
action in Pullman, which retired 2l2 per cent
in the face of the general rise. he entire
active list. with but few exceptions. among
which Pullman was the only prominent one
with a loss of ia, closed higher this even
ing, and Big Four rose 2l2, Lake Erie &
Western preferred 1I2, and Wheeling & Lake
Erie preferred l ss. The railroad bond mar.
ket was again extraordinarily active. The
sales of all issues reached $500 900, and
again the Reading issues attracted marked
attention by reason of their unusual activity
and strength, although the sales did not
reach the high figures of the past few days,
the As furnishing $685. 90, the lists
$4,000. the IDS 1922, 900, and