St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-10-13
FINANCIAL.
New York.

NEw YORK Oct l2-Clearings. to-day,
SI42. 6a9 2i9: balances, S1.433.770. For
the week-Clearinss $685., ESQ, 374; balances,
$50. O7I. S7l Money on call easy, with no
demand closed offered at 4 per cent. PRIME
mercantile paper. 5I2QI. Sterling exchange
quiet. but steady at q. IS for sixty-day bills.
and S.>7 for demand. For the first time
in weeks the stock market was compare
lively free from bear pressure to-day. ana
left to its natural bent the market improved
in all its DEPARTMENTS. The closing prices in
London were higher than our figures OF
last evening. and while London seemed
TO be doing little in this market all the Lon
don faVoritss were strong. Careful observ-
ants thought that they detected buying OF
Atchison. Cotton Oil and New England by
the bear party, which has been so active in
the market for the past two week, though
New England was if anything, rather neg
lected Some buying of Manhattan sent that
stock up rapidly. and. with The Chesapeake
& Ohio stocks it was the feature OF the mar
ket toward the close, the latter being
aided by trip of the Wander
bits over the line. The advances
in first prices over last even
ings figures were from Is to IS per cent and
further fractional gains were scored all over
the list in the early dealings, though the only
real activity was in Atchison. which was
taken largely from 2S14 TO 29Ss. Sugar re-
fineries were specially weak at first and de-
clined TO So from So and recovering IT'S loss.
again declined to 50. a portion of this was
recovered toward the close, however. There
was considerable selling of Missouri Pacific
after IL O'Clock. when there was
some demonstration made against
prices by the traders on the eXpecta
ton of further decrease in the reserves of
the banks. but the statement when Issued
showed an increase in that respect and the
buying assumed larger proportions than at
any previous time of the day. Manhattan
and Manitoba were specially strCng at this
time and everything advanced with them. the
market finally closing fairly active and strong
at the best prices of the session. The list is
almost invariably higher this evening,
and while most of the changes are for
insignificant fractions, Manhattan is
up 24: Atkinson, Big Four, Louisville and
Nashville and Union Pacific each per cent.
Railroad bonds were more animated and
showed frmer tone than usual of late,
though the changes during the session were
in but few cases for more than slight frac-
tons. The exports Of specie from the port
of New York last week amounted to SI21,-
OH. of which SIS. 100 was in gold and
COO in gold and S632, 662 silver went to
Europe. and S47, lG0 in gold and
$1,000 silver TO South America. The
imports OF specie # for bi the 90 E se
was in gold and S1S,6l3 silver. Govern
ments dull and steady. State bonds dull and
featurelesS The Posts financial article
says: The bank statement was quite as fav-
Orable as expected. ana shows nat so 1af as
the interior movement of money for crop
purposes is concerned, the drain upon the
bank reserves has ceased, though on the
other hand. the advance in the rates for
sterling exchange yesterday makes the pros.
pect. though not q very immediate one, of.
further gold exports before long. Never
theless the apprehensions about any
serious Stringencv i'll the money market have
disappeared. and that factor is eliminated
from the stock market for the present, but it
is narrow and waiting, subject to the manip-
ulatiOns of professional spectators, whose
object is to ge: profits of from TO per cent
by being alternately bulls or bears for few
days each. The undercurrent of the market
appears to be strong. because there are com
paratively few long stocks coming upon the
market, and yet the course of prices
has been very cratic, and on the
whole not very encouraging for the bulls.
The total sales of stocks to-day were 1O3,39l
shares, including: Atehison. 23,Sl0; Della
ware, Lackawanna & Western, 10. 100; Erie,
1925: Louisville d Nashville, $500; Man
haitian consolidated, 500; Missouri Pacific,
9,17O: Northern Pacific preferred, Zoo;
oregon Transcontinental, 3.4O0; Reading,
o. 100: Richmond Il West Point, l.624; st.
Paul. To0D