St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-16
FINANCIAL.
New York.

New YORK, Nov. 15.-Clearings to-day,
Sl2I.I7S.O55 balances. s.. 25S, 357. Money
on call easy, ranging from to per cent:
last loan 6; closed offered at q. Prime mer-
quiet aud firm at 81 81 for sixty-day bills.
and SASH for demand. The stock mar
ket was active and in the main strong today,
and prices this evening are generally trac-
tionalIy higher than last evening, while
few shares show very marked advances. The
bullish feeling which developed yesterday
was very pronounced this morning and re-
ceived encouragement from the heavy buy
ing of st. Paul by London houses. The trad
ers quickly got over to the bull side, and the
dealings In that stock for the first hour
were extremely large, the foreign pur-
chases alone being estimated at upwards of
%. 600 shares. There was talk of bull pool
in the stock and reports of heavy recent pur-
chases by the leading Chicago operators.
The unusual strength of the market discon-
certed the bears, and they cast around for
weak spot to counteract the effects Of the
rise in st. Paul, but found nothing better
than Cotton Oil, which early became feat
ure with its large transactions and decided
weakness. A reaction was brought about,
but il was, in all probability, as much due to
the selling of Louisville d Nashville by the
foreign element as to the weakness in Cotton
Oil, and while the iast-named stock continued
10 fall away steadily. the railroad list recov-
cred. and st. Paul was out to 70, with
others in proportion. The reports from
the West continue to be very encouraging,
and Rock Island especially made a hand
some advance, though It was not held i'll the
afternoon. Louisville d Nashville was the
one weak point in the regular list. and at one
time ii was l1s per cent below its best fig
ure, but ended only frachoually lower than
last night Chicago Gas was also attacked
with Cotton Oil; and. after a fractional adj
vance, it was knocked down over 2 per cent
but. like Louisville. its final price is only
fractionally lower than last evening. Tell
nessee Coal made another one of the jumps
for which 1t has become notable of late;
and, after some wide and violent f1uctua-
lions, it closed nearly per cent higher.
The gTangers were the leaders in the market,
and the covering OF shorts in them S.
sumed large proportions, while the buying
for the long account was very marked. Out
side Of ST. Paul, however, there was little
feature Manitoba sold ex-righls. The
opening was made at the usual small frac-
tfonal advances. but St. Paul was up "a, and
Tennessee Coal l per cent St. Paul
made further marked Improvement but the
others, under the heaviness in Louisville
and the selling Of Cotton Oil. failed to i'm
prove much, and toward noon the entire list
with but few exceptions. was slightly lower
than at the opening. Dizziness became the
feature, but prices began to mend after IL
o'clock, and later the buying was resumed
with more confidence, and a slow, but
steady appreciation set in, which con-
timed with bull slight interruption
till the close. There was some re-
| action from the best figures, but the close was
quiet and steady to firm. The final changes
are generally small advances, but Tennessee
Coal rose Az, st. Paul IS and Manitoba per
| cent, while Cotton Oil declined 2lS per cent.
| Railroad bonds were again more active, and
| displayed more feature than for some time
| past. The sales amounted to S1.S9I, 900,
| which was distributed among an unusally
| large number Of issues, while the Fort " orth
q Denver lists with $3.50, 900, the Wabash
new lists with S127,O0 and the DDS with
| $780, 900 were most prominent in the deal.
| ings,o followed by Toledo. Ann Arbor &
North Michigan lists. The market was
| strong, and some material gains were
made, though here and there declines
| were established in the inactive issues
| The Posts financial article says; There was
| larger volume OF business in stocks this
| afternoon, owing to the Increased dealings In
| st. Paul, Union Pacific and Louisville &
| Nashville, which together furnished 81, 600
| shares of the total of 100000 sold up to 2
| o'clock. As mentioned yesterday would
| probably be the case, the pool which is sup
| porting the price of ST. Paul were this morn.
| ing obliging the shorts to cover, aud the deal
| O'Clock. the price at the same time advancing
| to Tic shortly after / 1 o'clock from 6Stsc in
| the first half hour yesterday. The sudden
| advance is mainly the effect of the covering
| of shorts, and is, therefore, temporary
cause: nevertheless, the earnings of ST. Paul
| are very good, and If the operating
| expenses are now only SO 40 per cent of
last year, as appears from the official state
ments. the company has been earning at the
| rate of per cent per annum on the preferred
and over per cent per annum on the CON-
mon stock during the last four and half
months. But as for the prosnN"ts a. . ra-