St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-06
FINANCIAL.
New York,

NEW YORK, July 5.-Clearings, $151. 1874,
G3S; balances. SS,C00,0l5. Money on call
easy at sou per cent: last loan at 3. Prime
mercantile paper, 4@5A Sterling exchange excl ai1
and 81 S7S4 for demand. The stock market
was again moderately active to-day with the
great bulk of the business done confined to
the granger stocks, and the trusts were more
quiet than at any time since their activity
began, only Lead showing any special ANNA
ton. There was weak tone almost through
out the entire day, however, and prices to-
night are generally lower than on Wednes-
day. The prices from London this morn
ing were materially higher than our
closing figures of Wednesday, showing
that that center was not in sympathy with
the downward movement here and it was re-
pOred that large lots of ST. Paul had been.
bought in that market for American account
This gave better tone to the opening deal
ings and first figures, while quite Irregular,
were generally higher and the advances ex-
tended to p per cent in the general list.
while Jersey Central was exceptional, with
gain of l per cent ut III, which advantage
1t afterward increased a like amount. The
western railroad situation showed no i'm
provement. however, and with little or
nothing doing by commission people on the
long side and the temper OF the room de-
cidedly bearish. the advocates of lower
prices were encouraged to make an
other demonstration against the list.
street, although he denied giving the market
any selling orders. Atehison was selected
as the special point of attack, and the press
ure against the stock was increased by liberal
selling orders from Boston. The decline in
the stock did not cease until a loss of per
cent had been scored, and the movementin
it did much to shake out weak holders OF
other stocks. ST. Paul, Northwestern and
Missouri Pacific came next to AtchlSon in
point of weakness and all of the stocks men,
nNn I
decline was checked. The liquidation among
the smaller bulls assumed large proportions,
but the impression became general before
delivery hour that large lines Of shorts had
been covered. and there was change III the
temper of the speculation and IN the
last hour, there was good buying III all por-
tons of the list. The close was quiet but
steady al the improvement over the lower
prices. There was considerable pressure
also upon Reading, but the impression made
upon ii was small, Notwithstanding that the
stock was the most active on the list. OF the
other coalers. Jersey was strong and Della
ware l. Hudson weak. The other stocks on
the regular list, however, were quiet TO dull.
and their movements comparatively lnslg,
nificaut In the unlisted department Lead
was still active, but there was no movement
except in Sugar, which opened up fraction
and then declined over 2 per cent, but re-
covered and closed only fraction lower
The final changes show consider,
most numerous and Atchison lost
IA and Delaware & Hudson l per cent
while Jersey is up 2 per cent. Railroad
bonds were dur, and as q rule fluctuated
within the narroweSt limits, marked changes
in quotations being few in number. The
sales were only 81, O95 900, and only Read
ing As displayed any special animation,
furnishing $257, 900 to the total. Norfolk &
Western Clinch Valley rose 3 to 81, l., d. d
W. lists 8 to 92l9. Government bonds have
been dull and steady State bonds have been
entirely neglected. The total sales of stocks
to-day were 275, 1874 shares including Atch
ison, 43, 100; Delaware, Lackawanna West
ern, $500; Erie, SGD; Lake Shore. 1850
46O; Reading, 5o.135; st. Paul, 54,620-
Union Pacific, 1916.