St. Paul daily globe., 1889-02-26
FINANCIAL.
New York.

NEW 1ORh. EcU. %o.-CIcdTlllSS, SOi.-
253, 105; balances, $780, ,527; money on
call easy at 1902 per cent; closed Of
fered at 2; prime mercantile paper,
4@6; sterling exchange dull, but firm at
S4.S614 for 60-day bills and $4.SSs4 for
demand. The stock market was dull
and stagnant. except for few of the
leading shares. though there was gen.
eral heavy tone for most of the day.
The interest in the dealings was cen
tered almost entirely to the grangers
and Southwestern stocks, and London
was liberal seller of st. Paul in the
early trading,a and the advices pointed to
the publication at that center of rumOrS
of the passing of the dividend OH the
preferred stock, which induced free re-
aliZations by the foreigners, and a
marked impression was made, on both
the common and preferred stocks:
but as the dividend is not due
until April and the action by
the directors can not be taken
until next month, there was disposi-
ton to buy the stock upon the decline,
especially by the Western contingent:
and, after the first drop, the price of the
stock was very well held. Dispatches
from Chicago, stating that the Missouri
Pacific and Union Pacific had not signed
culated. and had considerable effect
upon the first-named stock, which was
afterward extended to the other South
western, but these stories were after
ward disproved, and better feeling
prevailed toward the latter portion of
the afternoon, which neutraliZed to some
degree the sharp losses of the early
dealings. The bears, however, did not
abandon the search for weak spots, and
heavy drive was made against the
cOalers in the afternoon, OF which Read
ing bore the brunt and was forced
off a fraction. while the losses in
the rest were insignificant. Sew
eral of the specialties, however, were
found more vulnerable, and Oregon I'M
provement again fell an easy prey,
dropping per cent on very light tran
sactions. Manhattan, St. Paul IL Du-
luth and Rome, Watertown and Ogdens-
burg all gave way and showed material
losses at the lowest figures; but the
strong point in the list was the Wander
bits, though all were very quiet, and
with the exception of c., c., G. & l.,
wuich rose over point and a half,
moved within the narrowest limits. First
prices were almost invariably lower,
though only st. Paul, with loss of q,
and Missouri Pacific, with l per cent,
were specially prominent. In the early
dealings st. Paul and Cotton Oil were
prominent for weakness, and the latter
dropped point, but the move
ment in the rest of the list
was confined to the smallest frac-
tions, without perceptibie tend
ency in either direction, and after the
first half hours business the market
sank into pronounced dullness, with an
improving tendency toward noon. The
drive at the coal stocks made after 12
O'Clock and the influence of the same
extended to the general list, which
sagged off slowly, while Manhattan and
Oregon improvement made decided de-
clines. Towards delivery hour there
was some improvement, however, and
after that time steady tone marked
the limited transactions, the market
finally closing dull and steady at about
opening prices for the great majority
Of the stocks dealt in. c.. c., C. & 1.
shows the handsome advance of 25s per
cent, bnt the rest of the list, almost
without eXcepti0n.is is lower. and St.Paul
lost II, Pullman and Reading each l
per cent, and others fractional amounts.
The railroad bond market was unusu-
ally dull to-day. the total sales OF
all issues aggregating only $1.007,-
600, which was quite evenly distributed
among the issues dealt in. The same
lack of feature which distinguished the
trading in shares, was show in the bond
market, and while some heayiness was
apparent in the forenoon, better tone
prevailed toward the close. The final
changes are irregular and the important
ones are few in number. Among those
which are higher, Henderson Bridge
firsts rose 211s to Ill and Manitoba con-
soils 2 to 12O. Government bonds have
been dull and steady. State bonds have
been dull and steady. The total sales
Of socks to-day were 166,650 shares. in
cluding: Atchison, 6.430: Delaware,
Lackawanna & Western, 9,455: Lake
Shore, 1923: Northwestern, II .5SS: Mis-
souri, Pacific. 4,Ol0: Northern Pacific
preferred, 1904; Oregon .Transconti-
mental. 5,la3: Read ing, $4,000; st. Paul,
Do