St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-10-20
FINANCIAL.

New YORK, Get I9-Clearings today,
SISz, 77O.GI4: balances, S5.lzG,9s4. For
the week. ciearings S793, 0l0,501: balances,
S3l. 73a.9O5 Morey on call easy, with no
mercantile paper 5l2d.7. Sterling exchange
quiet and heavy at S4.Sls4 fer sixlv-day
bills and Si.>5l9 for demand. The stock
N aTket was quiet today. but feVerish and
irregular: with considerable weakness III the
coal stocks and Srangers.while the trusts and
the rest Of the regular list were i'll the main
firm TO strong The opening was rather
heavy, except for Cotton Oil. which WaS
up Is per cent, and large purchases
by 8 certain broker aided in carrying the
price Of that stock up 10 l5S per cent far
theT The others followed slowly, but real
izing by tbs traders the top figures induced
some hammering by the bears and The adj
Yances il ;iir geLeral last i,aIe all wiped out
with something i'll addition before the close
of the first hour. Jersey Central ana Rock
Island were especially weak at this juncture.
and the former dropped 10 l2-l2 against
12434 last evening. and never recovered the
decline Rock Island lost IA 10 9@S4. The
pressure was then removed and prices again
rallied ana when the bank slate
ment was issued showing an increase in the
surplus reserve, which again brought 1t up
above the legal requirements. The upward
move became accelerated. There was too
little time left to distinguish any marked ad-
VanceS and the closing figures were gener-
ally close to those of the opening. Among
the SpecialtieS Pullman gave way readily and
scored loss Of 2l2 per cent. but the market
was devoid OF other special feature. COTTON
oil is up > PSF cent tonight and Jersey Cen
trail is down a like amount. but the other
changes are for slight fractions Ouly. with the
single exception of Pullman. The railroad
bond market was dull agan,sa only reach
ng $4,000, with stG9natlOn as the fealhre
Sales of railroad bonds for the week were
81 ,357 00O. against 81 .06S, 900 last week
The Posts financial article says: The coal
stocks were exceptionally weak as the result
OF the publication of the statistics OF the coal
trade for the nine months of the year 10 Sept.
so. showing that not only the average prices
but the output and consumption have been
so much smaller This year that II VIII make
n more uufavorable comparison with last
year in regard ionet earnings than the public
nave heretofore been ready to believe. The
result was that LaCkaWdnna declined lis.
Delaware q Hudson. !. and Jersey Cen
trail 2l4 before IL 80. thou n Read
ing. which is more seriously affected
by those conditions of the coal trade than
any of the other coal companies, and is now
over $1,000. 600 behind Its fixed charges, was
remarkable for its trmness, and only de
clined Il. The bank statement was favOra-
bic in that il showed an increase of 81, 625,
20 in the surplus reserve. thus recovering
the deficit of the reserve below the standard
p per cent. and leaving q surplus reserve OF
S9l7. $50 which leaves the banks in nearly
as good position as at this time last year,
when the average rate for call loans
at the stock exchange were 2I2 to lis
per cent through the week against
8 to 20 during the week just
past The difference of rates is
too great for the difference in the condition
of the banks TO believe that the rates have
not been artificially advanced in the last
week. After the bank statement the stock
market was stronger and there was recOV-
cry Of SSGl2 Oh all stocks, which left nearly
all, except the coal stock. ABOUT where they
closed yesterday, but for the week the major
lty of the stocks are lower. Governments
dull and barely steady. State bonds entirely
neglected. The exports of specie from the
port of New York for the week ending to-day
announced to S497, $50. of which So, $50
was in gold and S455,O2j in silver.
Of the total exports, $1,000 in
gold ana S45465O il silver went TO
Europe and 81, $50 gold and 1919 silver to
SOuh America. The imports of specie for
the week amounted to Sd. 234, of which
S26, 299 was gold and $3.50 silver. The
total sales of stocks to-day were $3.50
shares, including: Atchison, 7.00G: Della
ware, LakaWanna d Western. 1881; Erie,
200: Missouri Pacific, 5.4i4: Northern
Pacific preferred, $500; Reading, 1850:
Richmond Il West Point, Q, $50; st. Paul,
II. $50; Union Pacific, 3,2S5.
CHICAGO. Oct I9-MOncy Is in active de-
mand, both for country and ordinary mer
camille use The hank rate call is 6 per
per cent, time Z. Outside money is reported
at 6Ia per cent on call. New York exchange
506eGc discount. Bank clearings. ST., 991,-
900,