St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-01-04
New York.

New YORK, Jan. 3.-Clearings, $16o,562.-
SIG; balances, SIS, 297, 42S. Money on call
easier, ranging from to per cent last loan
f. closed offered at 3. Prime mercantile
paper, 5@6l2; sterling exchange dull, but
steady at S4.S4A for sixty day bills and
Sd. 9S14 for demand, The stock market was
dull but feverish and weak to-day for every
thing except the coal stocks, though the
grangers were the only ones outside of New
England who showed any decided weakness.
being per cent here, while i'll London it was
again down to 3@314. This. however, was
the only item of news of a character to en-
courage the bull. while Chicago resumed its
old character and sent batch of kilograms
and rumors, all of which were of q depress-
ing nature. The Missouri Pacific was
said to have already cut passenger
rates, which cuts were met by the
Rock Island and other roads affected.
The Burlington was reported as in trouble
with its employees again, and the earnings of
the granger roads in the near future were ex.
pected to show material losses for the next
few weeks To this was added the fact that
the foreigners were apathetlc as to American
securities, and even sold stocks i'll this market
especially in the early trading, notwithstand-
ing the more favorable outlook in the money
market The bears were active in depreSS-
ing quotations. and Rock Island was offered
at seller sixty days considerably below the
market, although only one transaction of
that nature was recorded. On the part of
the bulls there was complete lnactiOn, while
their opponents had the entire making of
values for the time being. The only bright
spot in the market was the coal stocks. and
Jersey Central in particular, which displayed
strength altogether out of proportion to the
lowest figure OF the forenoon. The road
is said to have earned about Is per
cent on the stock last year. and with i'm
proved prospects from the coming year. in
vestors and spectators are both inclined to
take hold of it. First prices were generally
slight fractions below the final figures of
Yesterday, but there was some demand for
stocks in the early trading, and Jersey Cen
trail developing marked strength, prices
moved up in sympathy all around though
for small fractions only with the exception
noted. Later, however, the upward move
ment came to an end. and the grangers be-
came the mark for the bear attacks, and the
entire list yielded with them, and before
noon all the early gains were wiped out. The
weakness continued, and everything retired
curing until well into the afternoon, when
jersey Central again made squirt and car
ried the rest of the list up q small fraction.
The movement was soon over, and the mar
ket finally closed quiet and fairly steady gen.
orally at fractional declines. New Englsnd
came to the front late in the day. and slowly
Welded until its loss reached liz per cent,
though nothing new upon 1t was known to
the street. There was larger and better
distributed business i'll railroad bonds to-day
than has been seen i'll some time past, the
sales of all issues aggregating $1,277, 900,
but while some of the list showed animation
there was no particular activity anywhere.
The tone of the dealings however. was
rather heavy throughout the entire day, and
the final changes are generally in the direc-
ton of lower figures. though important de-
clines are few in number. Great Western
firsts receipts lost at SO, and South Carolina
incomes at 6. Northwestern consols rose
2Ia to 145. Government bonds were dull