St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-04
FINANCIAL.
New York.


NEW YORK. Nov 2.-BaDk elearings to-
day, $lG5.OS9. 0l6: balances, So, 1887;
ClearingS for the week. 1892, 90J,31 bal
anees, S3l, 650,n5l. Money on call ruled
tight, with no loans, closed offered at 6 per
cent. Prime mercantile paper, 5I20S.
Sterling exchange dull. but steady at S4.s1
for sixty-day bills. and S4.S5 for demand.
The stock market was fairly active to-day,
with the trusts less prominent in the trading.
though, with the exception OF Missouri
Pacific, there was no real activity in the rail-
road list There was considerable anxiety
over the bank statement, and before its issue
opinions differed as to its complexion. and
the disposition was TO await its publication.
The bears in the meantime made
another demonstration against the trrsts and
both cotton oil and lead were knocked down
below the lowest figures of yesterday. An
other weak SPOT in the market was Missouri
Pacific, which with Chicago Gas trust, failed
TO recover with the rest of the market. The
traders were inclined to work for rally, but
the bears continued to hammer the list. and
after steady opening, the pressure upon
the three trusts and Missouri Pacific, which
caused declines in those stocks of from l to
2k per cent, was felt in the rest of the mar
ket, and syIn pathetic losses of small fractions
were the rule. The attack was met by good
buying, and before IL o'clock the lowest
prices generally had been reached,
and q material rally began, which, in
many eases, brought prices again to
ing figures. The pressure upon Missouri Pa
cihc was relieved, however and that stock re-
msined at its lowest which afterward
affected the general list and the market final
~ closed active and weak generally at frac-
nonal losses from The opening prices. The
final changes are fairly we'll divided between
gains and losses and are for small fractions
in most cases, the only important ones being
losses OF lts in Missouri Pacific and IN in
Chicago gas. Railroad bonds were compare
ffr-alx iun ffaG Hos of oil for fhso
two hours reaching S726,O0O. The market
failed 10 develop any feature of interest.
Sales of bonds for the week $6.S6l, 900.
against So, 937, 600 last week. The Posts
financial article says: The ventilation of
the affairs of the Cotton oil trust
in the last few days has resulted in the in
formation that the concern. though not earn
ing so much as was reported, has earned. &C.
cordlng 70 the annual report, about per
cent on the stock, and this, together with the
move being made by the appointment of so
respectable a committee as MesSrs. OlcOtt,
Thomas, Adams, Sheldon, Benedict and Bull
to formulate plan for turning the trust into
regular stock company and merging 1t with
the American Cotton OIL company has done
a good deal to establish degree of conf
dence in the certificates, and has removed an
element of disturbance from the general
stock market. The bank statement was COM
paratiVely favorable, in that it shows banks
have not increased deposits, but that
to expend their loans little
again, and yet the surplus reserve shows a
slight decrease. The interest and dividend
disbursements for Nov began SO late in the
week that they had almost no effect on the
averages Of the banks for this week, but will
doubtless show much more largely in next
weeks bank statement; even now the bank
statement shows that there has been turn
toward an easier condition of the money
market and though it has not been apparent
in the rates for new loans in the last week, il
is likely 10 become SO next week. Govern
ments dull. State bonds entirely neglected.
The exports of specie from the port of New
York last week amounted to 1921. 2S4, Of
which S63, $50 was gold and 1855, 234 silver.
All the silver went to Europe and the gold to
South America. The imports of specie for
the week amounted to $351,272. Of which
S30I, S95 was In gold and $40, AT in silver.
The total sales Of stocks today were 1872.
$50 shares, including: Delaware, Lacka-
wRna & Western, 2,4O0; Denver. Texas &
Fort Worth, 3,679: Lake Shore. 2,2OO;
Louisville & Nashville. 3. 100; Missouri Pa
cifc, %, 265; Reading, 3,1n0; Richmond &
West Point, zoos; st. Paul, 400; Union
Pacific, $500; Western Union, 1910