St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-12
FINANCIAL.
New York.

NEW YORK. Nov. 11.-Clearings. $50, 1884,
GIG: balances. S5.50S.56 Money on call
easy. ranging from 3 to 2 per cent:last loan 3;
closed offered at 5 per cent. Prime mercan-
tile paper. 5l2@7l2. Sterling exchange
quiet and weak al 81. S0l2 for SiXty-dav bills
and S4.S5 for demand. The stock market
was feYerish and irret ular on moderate
volume Of business to-day. and while stocks
as rule were well held. The bears attacked
some spots with such vigor as to force ma
terial decline The unfavorable bank state
ment of Saturday had its full effect this
morning, and the fear of tight money did in
duce some throF.ing over OF long stocks by
weak and timid holders. but the passive re-
sistenee to the pressure brought by the
bears forced them to desist. and
only small results were accomplished. The
foreign operations TO-DAY were insignificant,
but there was good buying for Boston ac-
count, especially in Atchison, though the
market for the most part was local affair
to-day. The early drive was made against
Laekawanna. presumably with the intention
of disloegirg some Reading, but the attempt
wa failure, and attention was turned 70
the grangers, and ST. Paul in particular felt
the pressure severely. There were numerous
rumors set afloat in regard to the stock. and
the story of the accumulation of floating
debt OF S1,O0O,OOO was ilOSt prominent
among them. Missouri Pacific was also later
made The object of raid which was more
successful Than the one upon st. Paul.
the effect of which was combatted by
the earnings for the first week in November,
which were the lsrgest for that week in the
history of the company. The market, how
ever was not without its strong spots and
Atchisun early showed remarkable strength,
while Jersey Central for the first time in
many days rallied materially from its late de-
preston. Among the specialtieS Manitoba
was conspicuous with rise of over 2 per
cent followed by Hooking Valley and On
tario & Western. The trusts were again
strong, though they were quiet to dull and
failed to retain all of the advance made in
the early dealings. Tennessee Coal was spe-
cially weak in the first hour, but recovered
most of the loss later in the day.
There was an attempt 20 work again
the money scare, and money did work a little
closer, though most of the business was done
at about the legal rate. The opening under
the influence of the bank statement was
heavy and was followed by further fractional
losses all over the list. a smart rally fol
lowed, but the list was inclined to drOL all
the fOrneoon notwithstanding the strength in
the trusts and specialties. Dizziness became
The most prominent feature of the market in
the forenoon. but st. Paul and Missouri
Pacific werer aided to some purpose while
the general list showed a tendency 10 recover
the losses of the forenoon. Another raid WAS
made about delivery hours and considerable
impression was made upon prices. but the
market closed fairly steady generally at small
fractions under the opening prices The only
of Dis in Manltoba, and ia in Jersey Cen
tral and decline of lis in Missouri Pacific
Railroad bonds were again active with q gelI-
orally firm tone. There were few features of
special interest. The Gulf, Colorado & Santa
Fe issues were strong, though their final
changes were insignificant, and the firsts
contributed S23S. 90 to the DAVIS total of
81 943, 90. The Reading first incomes were
active With Sl27,OOO and the Chesapeake 4
Ohio fiVes contributed $685. W, The final
6on1r CHI nd he
Posts financial article says: The statistics
of the coal trade from month TO month show
less favorably for the profits of the coal COM
panles. A month ago the production
OF anthracite was understood to be only
Z.OOu,O 600 tons behind the last years pro-
ductlOn in the eight months to that time.
Now it is stated that up to Nov. the produc.
ton Of the nine months is 2,70 200 tons
less than in the same period of 1898: and
with this diminished production the stock al
tide-water is still larger than last year at this
time. 1t is argued that this restriction of IC
per cent in the output has enabled the com
panies to maintain the prices for COAL, thai
is. it has prevented more serious decline in
prices. though il has not prevented the aver
age of 40 cents per ton less in the price for
all the anthracite coal sold in this year
which means that the profits on the Goa
sold thus far IN the nine months this
year will be at least S1l,0o0.00t
less than on the same quantity
VI NOol oOlu ldSt year, W Say HOtulllS OF lIlt
decrease of revenue from the diminished
quantity sold this year. The gross earning:
of the st. Paul for the first week of Novem
Der were reported this morning at $685., 600
against 1886. 395 for the same week in 1888
all increase of 26,605, or 4 per cent. anC
were the largest for the period named in the
history of the company. The gross earning:
per mile were considerably greater than las
year, and usual TO any year since SS5, viz.
In 1889, S1l7 per mile; 1888, SIP: 1887
SLY: 1885. SLY; 1885, SIPS; 1884. Sis
1888. Sl21: For the first quarter of the st
Paul's fiscal year, viz, the three months t.
Sept. 30 the net earnings are officially stated
at S2,4O3, 27O, and for October the gros
earnings were S2,952, UUO. which. upol