St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-12-18
FINANCIAL.
New York.

New YORK. Dec. l7.-Clearings, S151,971;,
GIL; balances, ST, sol 1876. Money on call
easy. ranging from to per cent; last loan
at 5I2 per cent; closed offered at 5l2 per cent.
Prime mercantile paper, 607l2 per cent.
Sterling exchange quiet and steady at
Sl.SOla for Sxty-day bills and S4.84la for
demand. The stock market to-day was dull
and stagnant as usual for the general list.and
stocks which were subject to special in
fluence. The early portion of the day was
dull and lifeless, but later there was some
animation. with decided upward tendency
in prices, and the list left off in many cases
materially higher than last evenings figures.
The sensation of the forenoon was the man
ipulation of Sugar Reiineres, in which there
was supposed TO be squeeze OF the shorts
going on. The. price OF the stock,
however, while it opened up at So,
was soon sold down to 81, and while the
buying demand was brisk, and a premium of
"a per cent was eXacted for the use of the
stock at one time, and cash sales bought at q
premium of fraction over those SOLD the,
regular way. there was heavy selling of
stock in the early trading, at sellers options
of three days. at as mnch difference as l per
cent from the regular sales. There are some
people who believe that the apparent short
interest is real, but others think that the in
slders have sold their stock and are borrow
ing for delivery until after the close of the
books tomorrow. Sales at sellers options
and also those for cash ceased soon after
quiet. moving with the rest of the market.
After sugar settled down there was the usual
drive at the coal stocks, though LackaWanna
was the only sutherland that only to the ex-
tent of a fraction. The shorts began
to cover freely toward l p. M, and the
grangers came again to the front all making
marked improvement under the lead of Bur-
lingtou. which spurted ] 1s per cent. Among
the specialties there were several sharp adj
vances Oregon Short Line and Consolidated
Gac fox 10 car ('hipapO
and Denver, Texas d Fort Worth and Ten
nessee Coal. There was a large order exc
cuted in Consolidated Gas. and the traders
bought OH the theory that the embarrass-
ment Of the electric light companies by the
cutting Of their wires by the city authorities
must rebound to the advantage OF gas. The
opening was steady, and prices remained so
until the afternoon. when everything fol
lowed the change up. and the market finally
closed dull but strong at about the bes fig
ures. Short Line is up 32s: Gas, 1s4; Denver,
Texas & Fort Worth and Tennessee. "A each,
and Burlington and Chicago Gas. Is each.
ing 81 $50, 900, and the first changes are con-
fined generally to Insignificant fractions.
The Post says: The general market was a
little lower in the hour to l o'clock. but con-
sidering the extreme stagnation of specula-
ton. it showed remarkable firmness instead
Of gradual peddling cut of stocks by disap-
pointed bulls. as is usually the case under
such circumstances. The particular features
of the market which help to sustain prices
are. first, the continued low rates for call
loans, which this morning were freely Of
fered at per cent; the continuance Of large
railroad earnings and apparent disposition
in London to invest in American railroad
securities. Government bonds were dull but
firm; state bonds were entirely neglected.
The total sales of stocks to-day were 1872
OBJ shares, including: Delaware, Lackawan-
ma q Western, 1900; Denver, Texas & Fort
Worth, 1898; Louisville & Nashville,
%
I5,4O0; st. Paul. 1880; Union Pacific, a.
49,: Western Union. 8 20.