St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-15
FINANCIAL.
New York.


Sl2, ,740,3 So: balances. S5.O45,6i3. Money
on call easy, ranging from 5 To per cent;
last loan D closed offered at 5. Prime mer-
cpntile paper 5l2@. IL. Sterling exchange
quiet aud steady at 81 8Ol2 for sixty-day
bills, and S48484 for demand The stock
market was quiet to-day. though the dealings
extended to an unusually large number of
shares, and the temper from opening to close
was moderately bullish. with no market de-
mand for stocks, while the snOrts covered TO
some extent The movement of prices after
the first half hour was steadily though
slowly upward until we'll into the afternoon.
when the buying assumed large proportions
and the rise was accelerated. The distribu-
ton of the business done was more even
than for two months, and everything
only dealt in from time to time.
showed some improvement. The Southern
stocks were the most noticeable feature.
though Richmond and West Point seemed to
drag after its sharp advance of the past few
days, and the Changers followed with
marked movements in the specialties The
trusts. with the exception of Cotton Oil, were
not active, though they followed the general
market in making material advances. There
was plenty of cotton oil for sale at about
&c, and it failed to get much above that fig
ure. Sugar was the only one which made
any material final advance. and that was
comparatively dull throughout the day.
Louisville & Nashville was in good demand
for some time, but the insiders took held of
1t after il had crossed 96. and put 1t up per
cent further. A squirt in Transcontinentsl
was one of the special features Of the day.
but the Northern Pacific did not
respond, remaining dull and to night
are only slightly higher The grangers were
bought freely by the Chicago party, and the
earnings Of st. Paul for October are said to
make very favorable exhibit. and it was
generally believed that the influential Chi
ca 20 operators are again purchasing it. The
others kept pace with Rock Island. specially
prominent in the upward movement. Among
the Iow-priced shares were Denver. TexassS
F.. Worth, Ontario & Western and Norftlk
& Western preferred, which showed marked
strength. The stock of the Laclede Gas
company was traded in upon the board for
the first time to-day, ranging between p 7s
and 2ul2. Opening prices we're generally
from ls to So per cent better than last nights
figures, and the list though meeting with
some opposition from the bears. moved Up
slowly. and the trading throughout was de
void of special feature, the inward move
ment meeting with no set back except in a
few stocks, and these interruptions were
short-lived and generally insignificant. The
close was fairly active and strong at about
the highest prices of the day. The final
prices III wv uniform gains throughout the list,
and Sugar and Oregon TranscOntinental are
up ia each: Tennessee Coal like amount;
Jersey Central, ll2; Louisville & Nashville,
IS: Rock Island, Denver, Texas & Fort
Worth, Lackawanna, Norfolk L. Western
preferred and ST. Paul 1 a each: Consolidated
Gas. 1S: Hooking Valley and CANADA Pacific
] per cent each, and the others fractional
IN )unts. Railroad bonds showed the same
broadening of the interest in the market as
stocks, but there was small aggregate to the
business done and the sales of all issues
reached only N;529.OaO, though the num-
Der of issues traded in was nearly twice that
of yesterday. The Chicago Burlington d
Quincy As were the only active bond with
sales of 100000. The market failed to
show the steady strength which marked the
were sustained in different portions of the
list. These, however, were generally inactive
issues and were more than cuunterbalanced
by advances which are rather in majority
tonight. The general LIST is but slightly
changed. Government bonds have been dull
and steady. State bonds have been dull but
firm. The Posts financial article says: Some
announcement was given to the stock specu-
lation this morning by the fact that the Bank
OF England did not raise Its rate of discount
TODAY as was thought possible it would,
consequently the early prices of Amer
ital stocks i'll London were gen-
orally A@la higher than the closing
figures here last night. The market followed
with abOutan equal advance. which was in
creased little before IF o'clock. Notwith-
standing the encouragement from London
this morning, the speculative temper there is
not rampant. Money in the open market
there was 12@s4 of per cent higher to-day
than day or two ago, and the possibility Of
higher rates still checks speculation. This
market, though strongly held, is so narrow
that the board room traders are continually
coming into collision with themselves when
ever they try to start movement of prices in
either direction. The sentiment for several
weeks has been in favor of an advance in
prices. money has been easy enough TO favor
a speculative advance, If there wes a sniff
cient Dasi for 1t, and yet with all the VI Q
and downs of the last week. it is curious to
note that at L. o'clock to-day the majority Of
stocks were lower than their bes, prices of
Thursday week ago. The total sales of
stocks to-day were 26o, 1897 shares in luding
Atchison, 1925; Union Pacific, 1881; Del
aware, Lackawanna & Western. 2O.933: d.
7. d F. W., 4,2I5: Erie. 4.7Ou: Louisville d
Nashville. 20.43I; Missouri Pacific, 300;
Transeontineiitai. 1895; Reading, 5000;
Richmond & West Point, $685.: St. Paul,
1859. ~