St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-10-15
FINANCIAL,
New HOPlE.

NEw YORK. Oct l4-Clearings, to-day,
$40, 100, 94l: balances, Ss,SS2.0l9. Money
on call comparatively easy, ranging firm
at 5G7 per cent; last loan at per cent;
closed offered at per cent. Prime mercan
tile paper 5I2Gl7. Sterling exchange quiet.
but steady at 81. 82l2 for siyIy-day bills and
SiH6I2 for demand. The stock market was
exceptionally teverish, unsettled and, in
portions, weak to-day though the general
run of railroad stocks were well supported,
and few displayed undoubted strength.
The industrial stocks we're the weak spot in
the market, and they served to check the adj
vancing tendency which was shown in the
regular list whenever the pressure was lifted
for time. The favorable bank statement Of
Saturday, with the higher figures from Lon
don this morning and the foreign buying
made the opening of the market strong and
moderately active. first prices showing adj
vances over Saturdays closing figures OF
from Ia to So per cent. Atchison early be-
came the strong point in the market, and
while the buying was chiefly on the expecta-
ton that the plan OF reorganization 10 be
given out tomorrow would be one of positive
value and acceptable to the security holders
OF the company. the August statement. show
ing an increase or over $3.50. 900 in net earn
iugs was undoubtedly of great influence in
making the advance. A few other stocks
showed positive strength. among which Jer-
sey Central and &. &. G. x st l.. were most
prominent. the last named being bought by
insiders with considerable talk OF a
old-time prominence in the market,
and were raided vigorously throughout the
entire day. and while most or The buying had
the appearance of coming from insiders.
there did not seem to be any real support in
the market There was still no decision in
tee North River refinery case. though 1t was
held up os a bugbear 10 the holders ana
Uould-be buyers of sugar retinerles the
stock was knocked OFT from 50 last >atur-
dav to 7Ss4 and rallied slightly, but another
raid sent the price down to IU4, and il closed
weak at 7612. Cotton Oil had an appearance
of strength at the opening, but the stock was
raided with Sugar, and while there appeared
to he scaled puying orders. they were not of
sufficient magnitude to stop the de-
cline and it dropped from 43 10
1914, recovering to 40A. The coal stocks
with the exception of Jersey Central were
rather weak, and LackaWanna was subjected
to considerable pressure. as was also Missouri
Pacific. Dut the impression made upon them
was slight. Manitoba and Canada Pacific.
upon story of all alliance between them
were quite strong, though very dull, whlie
the Chesapeake d Ohios were strong on q
moderate volume Of business for those
shares The market continued feverish and
unsettled the entire day. and finally closed
rather heavy, though the final prices are trac,
tionally higher than those of Saturday Ill all
but few instances. Atchison is up 25s, Jer-
sey Central and c., c. Q. l. st. l.. ia, while
Sugar Reineries is down GA ana
Cotton Oil ga. Railroad bonds were
endQe more dctlNe Dub
the general tone of the market was rather
heavy. The sales of all issues reached $780,
600. Governments dull and steady. State
bonds entirely neglected The Posts fnan-
cial article SAYS: The stock market was more
active this forenoon, and at first all stecks
were Is to 81 higher than they closed on Sat
urday Atchison was exceptionally strong
and active on what was understood to be
buying for Boston account. There was heavy
selling of Sugar Trust and drop of 3A points
from SO at the opening to 79l2 about l 80,
which affected the whole stock market to
considerable extent, SO that LackaWanna,
| Delaware & Hudson. Reading, Burlington q
Quincy, Northwestern. st. Paul, and
Missouri Pacific, which had all opened ls to
| "a higher than they closed. not only
| lost their advances, but by II O'Clock were
all from lsc to sec lower than closed on Sat
urday. Notwithstanding the reaction in
| the second hour, which was caused chiefly
| by the break in Sugar and the selling OF
| LackaWanna, The general market eXnlblted
strength, and after II o'clock good part OF
| the decline was recovered. The early prices
| in London before the opening of this market
were H634 higher for nearly all the Amerl-
| can stocks usually dealt in there, and this,
together with the most favorable bank state
nent on Saturday and the lower rates lot
money in London, had encouraged an al
vance in prices for stocks generally, when
was interrupted by the drop in Sugar. inc
| ostens;ble causes for the heavy selling OF
! Sugar Trusts were still the rumors abo VI the