St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-23
FINANCIAL.
New York.

8s7: balances. 81. s95, 43I. Money easy
at PCS per cent; last loan, Dig; closing offered
at 2. Prime mer ;antile paper, 4a4@6.
for sixty-day bills, and S4.s7a4 for demand.
The week in the stock exchange opened
with dull and declining market, though
considerable irregularity and feverishness
marked the trading, aud the final changes for
the day are generally fractional and very ir-
regular. The same influences which made
the market so weak Oh Saturday prevailed
at the opening, and first prices were from ls
to 9s per cent lower than Saturdays closing
figures. The traders and professionals were
still inclined to hammer the list,
while commission people were do
ing nothing, and there were
few London selling orders in the market.
There was some buyingfO for Western account,
however, and 1t was noticed that there was
more inquiry in the loan crowd for the West
ern stocks, while in all the leading stocks
there was evidence of better support, and
after the weak opening the market became
quite strong, though the movement was of
slight importance. The improving tendency
was ham pered by the weakness in the trusts,
in which several stop orders were uncovered,
the special cause OF the decline being the de-
cline in beet sugar i'll Europe Sugar scored
a net decline OF 2Ss per cent in the first hour
and the others lost fractional amounts. The
official denial of the Saturdays story of the
was received and turned over some of
the traders to the long side and brought in
some outside buying ORDERS which lifted the
general list to something like first prices,
Missouri Pacific leading The highest prices
were generally reached shortly after noon,
when it was announced that the Missouri
commissioners had ordered a reduction i'll
some rates. and Missouri Pacific quickly lost
all the improvement of the forenoon, and
the rest of the list. while SubSiding into IN
tense dullness, showed a sagging tendencv.
The traders again attacked the list later, and
toward delivery hour the downward move
ment became more pronounced. The new
marked strength and advanced 2 per cent
from Its lowest price. In the last hour
there was less business, and prices rallied
a little, and the close was dull, but fairly
steady at irregular changes of small fractions
from the opening prices. Sugar Trust is
down IS and Northern Pacific, which suf-
suffered from rumored issue OF S15, 900, 900
debenture bonds, lis per cent Cincinnati,
Cleyeland, Columbus d st. Louis rose ia.
Railroad bonds showed no change from the
conditions which prevailed last week,
though there was some little more animation
than at that time. The tone Of the market
was weak. however, and the Hooking Valley
SKIES took the lead in the decline. The fives
were most active, and furnished S104, 900
out of the total days trading.of 5000, 600, and
were very well held. st. Paul, I. &
NJ. sevens lost 37s at 1853; Hooking Val.
ley skies at SO; Erie funded fyes,
2Ia at s9l5. Government bonds dull
and steady. State bonds dull and heavy.
Petroleum was stronger, and prices moved
higher than ever before this year, August op-
ton selling up to 81 per barrel, and spot oil
reaching SSl2c. The advance was caused
mainly by an attempt of Wall street and
Pittsburg operators to cover their short &C.