St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-12
FINANCIAL.
New York.

New YORK, July 11.-Bank clearings
S126,715, 563; balances So, 1896, 229. Money
on call easy at 2l2@3 per cent: closed Of
tered at 3. Prime mercantile paper, 4l2@6l2c.
S4.S6 for sixty-day bills and 81. S7s4 for
demand. The stock market was quiet oday
but decidedly strong almost throughout. and
except the bad break in lead trusts there was
no set back of importance, everything traded
in closing materially higher than last even
ing. London prices this morning were again
materially higher than our prices of
last evening, and the advices from that
center led to the impression that there was
some news af1oat in London, of q
favorable nature. in regard to the pending
railroad negotiations. There was some buy
ing for foreign account, and other outside
interests were purchasers during the day.
Chicago being specially conspicuous. There
were rumors again of a gigantic railroad
trust to be formed in the West, and it took
somewhat more plausible form than the pre-
vious stories in that connection, and, before
the opening of the market induced more
bullish feeling than had obtained Yesterday
which resulted in decidedly strong open
ing, with an active business. The opening
gains extented to " per cent and IN the first
@L2 per cent were scored In the general list,
while Sugar Trust and the Chesapeake &
Ohio stocks moved up over per cent each.
AT the high figures there was disposition
UdnlIcSteu lu6 suldlleT lrHOerS 10
take profits. and as the demand fell away
prices receded, but afterwards moved up
again. Toward noon the market received
a shaking up from the sudden activity
and rapid decline in National Lead Trust,
which responded to the stories Of
fell away over 2 per cent, while the stock
changed hands in large blocks The rumors
were promptly contradicted, however. and
the slump was soon over, the stock rallying
over per cent: In the meantime, the adj
vices from the West, and the meeting of the
trunk officials. was such as to again stimu-
late the bullish feeling. and ON the rebound
the stocks of the regular list were carried I'D
to the highest prices of the day. The news
that something was really being done to
was the most powerful in bringing about
reaiizations in the last hour and
the market sagged away slightly from the
best prices, but there was no weakness any,
where in the list, and the close, while quiet
to dull. was still firm to strong at but shade
under the highest figures of the day. Aswas
to be expected, the grangers were the leaders
in the last rise, but were Joined by Lake
Shore, Everything on the active list is high
er, and Chesapeake & Ohio first preferred
rose S4c; Lake Shore and st. Paul, 49, each;
Burlington and Union Pacific IL each;
Northwestern, Canada Southern, Missouri
Pacific, Northern Pacific preferred
ana SOutnern racine per cent each, and
others fractional amounts. National Lead is
down ll2: but it is the only decline. Rail
road bonds were more widely traded in, and
the aggregate dealings were materially larger
than usual of late. reaching S1,2IO,O0O. The
feature OF the dealings was the advance and
activity in the Milwaukee, Lake Shore &
Western extension IS, which contributed
$133, 900 to the days total, and with Allan
tic d Pacific incomes, which furnished Sill.
900, was the only active bond on the list.
The market was generally firm, but there
were marked declines in some issues, gener-
ally those which have not been traded IN for
some time. Lehigh & WIlkesbarre 5s rose
Dip to 1913; Rock Island IS lost 2I2 at SO;
Chicago, st. Paul g. Minneapolis lists, 2 at
1875; Minneapolis q ST. Louis 2ds 2 at 50l2,
and New York & Northern 2ds 3 at So
Government bonds have been dull and
steady. State bonds have been dull and
without feature. The total sales of stocks
to-day were 2l7, 1874 shares, including:
Atchison, 1920: Delaware, Lackawanna
& Western, $3.50; Lake Shore. 1850;
Missouri Pacific, $3.50; Northwestern. TO-
175; Northern Pacific pfd, 1925 Reading,
17640; st. Paul. 4S.330; Union Pacific,
500.