St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-12-28
r. M. NEWPORT & SON
lnYeStm11j Bankers,
f52, 155 ard f54 Drake 6iock, ST. Paul.
MINI.
Buy and sell Stocks. Bonds and Real Estate
FINANCIAL.
New York.

New YORK, Dec. 27.-Clearings. 800, 145.-
131; balances, Sc, 90l, sos. Money on call
tight, ranging from . to so per cent; last loan
per cent; closed offered at 3 per cent.
Prime mercantile paper, 5s49712 per cent.
Sterling exchange quiet and weak at S4.SO
for 60-day bills and SI.S314 for demand. In
the stock market to-day the transactions act
ually made III stocks were OF small moment
and the absorbing feature was in the money
market which, as usual of late on Fridays,
was given little squeeze. The rate for call
loans ruled all the first hour at about SGD9
per cent, but soon after that it began to ad-
vance, and from 8 it went to II, and, with
one stride, p was bid; the passage to 50 was
quick, but that was the maximum for the
day. The reaction wa s almost as
sudden as during most OF the afternoon II
ruled at from Is TO 20, but after all borrowers
were accommodated it was offered down to
. per cent at the close. The wonder was
that with such a rate for money and all the
speculative powers enlisted upon the side of
lower prices, that there should be no further
decline than was had, but the market re-
manned fairly steady throughout the greater
portion of the day, with a sagging tendency
at times in the general list. The high rates
for money again brought down the rates Tor
sterling exchange, and the demand rate is
now within the gold importing point, which
gave rise to rumorS Of an engagement of gold
upon the other side for shipment to this
country. The feeling was that the i'm
portation of gold could not be long de-
iayed and this served more than anything
else to buoy up the market for stocks. The
only feature of the dealings of interest to-
day was the rally in Sugar refneries after
slight decline in the early trading. which had
every appearance OF covering of shorts, and
from 56Ss the stock advanced to 59I4, but
settled back again to 5Sl2 at the close. Not
Tithstanding the bearish feeling upon the
coal stocks among the traders, LackawanDa
was well held, and even showed some
strength in The forenoon. Richmond & West
Point was weak in the early trading, declin-
ing nearly per cent, but rallied somewhat
later Union Pacific and Burlington also dis
played heavy tone throughout. and the lat
ter ended with moderate loss. The declinein
Denver. Texas & Ft Worth was continued
though its net loss was only fractional. The
other changes were entirely insignificant.
and the market closed fairly steady and dull,
but generally at something under the opeu.
ing figures. Ra lr lad bonds show also a
steadily dlminis hing volume Of business,
and the sales today wire Only Sos, 900.
The tendency. as in stocks was rather In
favor of lower figures, and most issues are
slightly lower, tho gh the most important
ones are few in number. Government bouds
have been dull a q steady. State bonds have
been dull but firm. The total sales of stocks
to-day were Sc, 357 shares, including: Della
ware, Lackawanna d Western, 10, $50; Mis-
souri, Pacific. 5.3l5; Richmond d West
Point, 1870; Union Pacific, 400; Western
Union, 3, 9S5.