St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-12-09
FINANCIAL.
New York,

NEW YORK, Dec. 7.-Clearings SI2s. 905..
46I; balances. S5.h06,l 1872. For the week,
clearings, $3.50, 3O2.40; balances $50 615.-
292 Money OH call easy, ranging from 4 to
) per cent; last loan 4, closed offered at 1.
Prime mercantile paper 6G7l2. Sterling ex-
change quiet and steady aU 81 so for sixty
day bills and 81. 81 for demand. The stock
market was quite active by spells this MORN
ing, but there was q generally strong tone
and while all the improvement was not re-
tanned at the close. the great majority of the
list are materially higher than last eueDing.
The temper of the room at the opening was
very bullish, and first prices as pared with
last evenings figures were generally from "A
ering in the trusts and coalers, and Sugar.
LackaWanna and Reading were the most
active stocks, though in the coal stocks the
movements were not equal to those i'll some
OF the specieltes. Sharp advances were
made in many stocks, and Sugar shot up to
20. followed by Manitoba, Michigan Central,
Chicago & East Illinois preferred and the
coalers. The bears were searching for vul
nerable spots. however, and for some time
after The first rise The market was given
all the stock it could take, and Sugar
rapidly lost nearly of its early I'M
proVement and some stocks retired TO
q shade below the opening figures The
pressure was soon discontinued, however.
and the buying again began to tell, and while
the market became dUlieT. prices again ad-
vanced all over the room. The Chesapeake
Il Ohio stocks, Oregon Improvement, Den
yer, Texas & Fort Worth, and some others
showed special strength in the last rise, and
the market closed active and strong geher-
ally at cloke TO the best prices of the day.
Michigan Central was specially strong, hut
there was realizing in G. c. c. & st. Louis
upon the belief that there would be no
further improvement in the stock
alter the declaration OF the dividends
There were q few small fractional
losses, but Sugar rose 29s; Chesapeake d
Ohio seconds preferred. z; the first pre-
ferred, Ia; Wheeling Il Lake Erie preferred,
l, and Oregon Improvement, 3l2. Railroad
bonds were active and generally strong; the
final changes are Insignificant. There were
a few marked advances among the inactive
bonds, but the active issues were only slight
ly changed. The total days business reached
S1.O47, 900, with no specially active features.
Rock Island coupon IS rose 3 to 1877. Peo-
ria, Decatur & Evansville division IS lost 3
at lOl. The sales of bonds for the
past week were 1887, 900, against
S6.311,OO0 for last week. The Posts
review says: Twas remarked yesterday In
this column: That good many of the
daily spectators appeared disposed to an
ticipate the advance which everybody con-
cedes is likely to come in January. This dis
position developed an into important buying
movement this forenoon, not only by local
spectators but by those in Chicago and Lon
don, and the advances Of yesterday were
doubled in the short Saturday session to-day.
The report Of the net earnings of the Denver
d Fort Worth for September at S95. 4S3
showing an increase of l75 per cent. was SO
large that many were at first dis
PISSED to think it was not on
the same mileage, but 1t is, and this
fact advanced the stock l per cent. The
buoyaney of the market hello to the close,
though it probably wnnld not have done so
If the bank statement had come out at the
usual time, instead af being delayed until
II clock, Just as the stock market had
closed. Most people had expected that ow-
ing to the large purchases of bonds by the
treasury. and to the fact that in Chicago
exchange on New York is at a premium,
there would be an increase in the surplus
reserve of the banks. The purchase of
bonds this weak have not brought out near
so much money from the treasury as
many thought they would. and as for the
tendency OF money to move from the West
10 New York, it is offset by the movement to
the South and Southwest, where the activity
of general business seems to require more
currency than ever before. The result was
that the bank statement showed a decrease
in deposits by the drawing out of specie and
legal tenders, and making q reduction of
81, lS9. 700 in the surplus reserve 1t is not
improbable that this disappointing bank
statement may have some temporary effect
on the stock market Monday, though 1t can
be only temporary, because there Is reason
able certainty of comparatively easy money
market for the next four months. Govern
mcnt bonds have been dull and steady. State
bonds have been dull, without feature
The exports of specie from the port OF New
York last week amounted to 1884, 2S3, of
which $4,000 was gold, and S29G, 633 sill
yer. Of the totsl exports. all the silver went
to Europe, and all the gold went to South
America. The imports of specie TO the port
of New York amounted 10 S259, $50 of which
S21I, l44 was gold, and S4s, 1876 silver. The
total sales of stocks to-day were ia, 1876
al TNA1-
ware Lackawanna IL Western, 1925;
Denver, Texas Fort Worth, 1897; Lake
Shore, 1853; Louisville Il Nashville. Sig:
Northern Pacific preferred, $500; Reading,
"a, 800: Richmond West Point. 1866
St. Paul. 4,6 %: Union Pacific. $3.50; West
ern Union 800