St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-12-05
FINANCIAL.
New York.

NEW YORK, Dec. 4.-Clearings, 1857, 005..
GIG; balances, S4,970.392. Money on call
close, ranging from 4 TO 8 per cent; last
loan, 4 per cent; closed offered at per
cent. Prime mercantile paper 5I207I2 per
cent. Sterling exchange quiet and fairly
steady at 81. so for sixty day bills. and 81 81
for demand There was less animation in
the stock market to-day, but the tone of the
dealings was not so strong as yesterday. and
most OF the list this evening are slightly
lower. The natural tendency is evidently to
rally, but the improvement was met by the
bears with attacks on certain stocks, which
resulted in a feverish and divided market.
Missouri Pacific was one of the weakest
stocks on the list although there was an eff
fort made to make the street believe that in
siders had been large buyers during the past
week and that the stock would go consider
ably higher. The greatest pressure was first
brought up on New England and it dropped
OH about 112 per cent. but the decline
brought in what was considered good buying
and the rally lett it but slightly lover than
last evening. The pressure was continued
upon the coal stocks, but, while active, they
were held within narrow limits and their
final changes are insignificant and. owing to
the abandonment of the attack, they were
comparatively dull during the entire after
noon. The strong feature of the day was
Chicago Gas, which rose from 3SH to
42l2 on covering Of shorts and buying
by the Chicago people There was
story from the last named place that pool
had been organized to squeeze the shorts in
the stock. All of the advance was not held,
but the stock made the most pronounced ad-
vance of the day. London was again q
buyer of some of Its favorites. especially
Louisville d Nashville and st. Paul. though
the latter was weakened by the disappnint-
ment over the small increase in the earnings
reported. and the former was raided down
late in the day when the support from the
foreigners was withdrawn. The movement
in Ontario d western was reversed to-day,
ana it was one of the weakest stocks in the
regular list on the report that Mr.. Wander
bilt declined to receive proxies for
the annual election. The news OF the
day was generally of a favorable char
acler, but had little, if any, Influence
upon the course of prices. The opening was
made at all advance over last evenings fig
uTes which extended to "a per cent but the
attack upon New England checked the i'm
proving tendency Immediately and prices
Teceded all over the room, the only strong
feature being Cameron Coal, which was es-
pecially active for that stock. and rose from
5l2 to per cent. The general list recovered
fully before noon, but the fluctuations were
generally for slight fractions only, and the
advance continued until we'll into the after
noon under the lead of Chicago gas. Prices
then gave way all over the list, and the close
was rather heavy generally at something
under the opening prices. Most Stocks how
ever, are fraenonally higher. Railroad
bonds were quiet as usual, and the
Kansas d Texas issues were again the
strong feature during the forenoon but re-
acted later in the day and all of the improve
ment was lost. The 6s furnished $500, 900
out of the total of Sl.555, 600. There was a
rather heavy tone TO the trading and declines
are in majority this evening, the most i'm
portant losses being: Chicago & Pacific 6s, 2
at lis; Chicago d. East Illinois consols 2
at 1872; Reading seconds, 34 at 81, and
Hannibal & st. Joe consols. l atl17 There
were few advances. but they were of minor
importance. The Posts review siys: There
is no doubt that the unpromising condition
of the coal trace has recently brought good
deal of long stock of all the coal com anies
upon the market. 1t has been dribbling
out for two months time, in which time
Lackawanna and JerseyCentral have eaeh de-
cllned points and Reading and Delaware
d Hudson z. There is, however a chance for
some misconceptions of the earnings of these
properties. as is shown by the annual report
of the Erie, in which the loss of over $780,
900 in its coal trade was more than made up
by the increase of other traffic. There was
story circulated by the bears Yesterday. that
up to Sept. 80, 1.-The Lackawanna had earned
| only 4 Der cent on its stock, but il was con-
sidered too absurd to require notice. and this
morning President Sloan denies it and saws
that notwithstanding the poor coal trade
the other traffic of the railroad has
been so good that up to Sept. 80 the surplus
earnings were equal to z per cent" Govern
ment bonds have been dull and steady. State
bonds have been dull and steady. The total
sales of stocks today were 32S, O9O shares,
including: Atchison, $3.50: Delaware,
LackawannaS;Western ,43, 525 Denver, Texas
q Fort Worth, 8. 056; Louisville d Nashville,
1880; Missouri Pacific, 21,56O; North
western, 1850; Northern Pacific preferred,
3,216; Reading. 49, $50; Richmond & West
Point. 1925; st. Paul, 81 400; Union Pa
cific, IL $40.