St. Paul daily globe., 1889-11-19
FINANCIAL.
New York.

NEW YORK. Nov. 12.-Clearings, SIS. .302,-
047: balances. 81. 1888 653. Money on call
ruled tight, ranging from 5 to 20 per cent;
last loan +, closing at l2@15. Prime mer-
camille paper. 5l2G17g2. Sterling exchange
quite, but steady at S4.9I for sixty days and
S4.S5 for the demand. The stock market
was more active to-day than it has been in
months, while at the same time the dealings
extended to a greater number of stocks than
at any time this year. The tone of the mar
ket however, was extremely irregular with
rapid and frequent changes from strength to
weakness and the reverse. Union Pacific the
were strong and did much 10 bring about
higher range of values in the general list but
the trusts and Atchison were equally weak
and had a marked influence for harm es-
pecislly during the afternoon. The temper
of the room was generally eonservatively
bullish; but London, owing to the Brazilian
troubles. was a seller TO a considerable ex-
tent of its favorites, and the bears vigorously
resisted the upward tendency of prices, max
ing specially heavy drives al the trusts as
means Of downing the general list. The
money market was again disturbed in the aft
ernoon, and the rate on call got as high as
20 per cent which also had very dis
couraging influence upon the market
toward the close. Union Pacific and
Denver, Texas and Fort Worth were
bought on the prospective arrangements
between them and the latter made one of the
most important upward movements OF the
day. while the former reached still higher
prices though the whole advance could not
be held. The coal stocks were very strong,
the rise in the prices of iron and its manu-
factures giving quite boom to Tennessee
Coal, Colorado Coal and Reading. while
Lackawanna sympathized with the last
named. There was in the early portion OF
the day considerable covering of shorts in
the coal stocks. but later realIzations on the
long account wiped out most of the improve
ment. Tennessee oal which is said to be
worked in the market by party of Southern
SPECTATORS. made a jump of 10 per cent
from 74c to SIC, but fell away half
of the advance. Atchison was weak
from the opening, though its decline
was slow. and it had considerable effect in
checking the improving tendency of the rest
Of The list in the early trading. Cotton Oil
was the first object of attack by the bears,
and it reached % before the decline was
stopped. though there WIS talk from bull
sources of "a squeeze in the shorts in the
stock. Sugar declined in close sympathy
with Cotton Oil although Mr.. Havemeyer
was said TO have taken a gloomy view of the
prospects of the trust in his recent utterances,
| which had considerable effect. There was
| some weakness in Western Union upon talk
! of the establishment of postal telegraph by
| the government. The opening was extremely
| irregular, and Louisville d Nashville was
off a per cent, and while there was
a general improvement in the forenoon
| the realizations later wiped out most of the
| advances, aided by the weakness of the
stocks mentioned above. The close was un-
! settled and irregular, though with better
| feeling than had prevailed during the after
noon. The final changes are about equally
! divided between gains and losses and while