St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-17
FINANCIAL.
New Work.

NEW YORK, Nov. 16.--Clearings to-day,
1871, III, 1856; balances. sos, l59. For the
week: Clearings, $40, Oo6,6l3: balance,
SO 400, Money on call easy, with no
loans; closed offered at per cent. Prime
mercantile paper 5l26D7l2. Sterling exchange
quiet but steady at 81 81 for siXty-day bills
ard S4.85 for demand. The stock market
was active too day, though the interest i'll the
trading was confined to few OF the leading
shares, The strength of yesterday was con-
tinued, however. and almost everything
traded in was left at still higher figures than
yesterday. Tine same tactics were pursued
by the bears, and, unable to stem the improv-
ing tendency, they sought out weak
effect upon the rest of the list
Rock Island and Union Pacific proved to be
the bull cards of the day, and both were act
i've and decidedly strong, the former on the
earnings semi officially reported from Chi
cago, and the latter OIL the splendid pros
poets of the company. Among the special
ties Ontario & Western was again conspicu-
Gus for both activity and strength, the buy
ing being supposed to come from Vanderbilt
sources. The opening was active and firm,
but the pressure brought upon Cotton OIL
and Western Union by the bears checked the
improving tendency in the list, with the
single exception of Rock Island which soon
crossed par. Cotton Oil was raided down to
rs Ster the rn first sgh a adEanee
small fraction. The effort proved
of no avail, and the market became dull
while the early losses we're quickly Tegained
with fractions in addition. Union Pacific
then came to the front and sold up to $685.
against 6Sls last evening. The ruying for
both sides or the account became more pro-
nounced after the issue of the bank state
ment which was issued toward IL 40, and
the last few minutes trading were the most
active of the session, while the upward
movement made most progress at that time.
The market closed active and strong at the
highest prices of the day. The is almost in
variably higher tonight, and Tennessee Coal
is up 3ls Union Pacific | w, Rock Island Ss,
and Ontario & Western lis. Railroad
to to'' on MI S5es,o.1o. The market
was stead to firm, but the only feature was
the Toledo, Ann Arbor u Northern Michigan
lists, which scored gain of ~ per cent, to
106a4. The sales of bonds for the week were
SO, 336. 900. against 81, 954, 900 for last week,
which, however, containeh only five business
days. The Posts Wall street article says:
After a great deal of huctuation and uncer-
tainty during several weeks, the stock market
at last begins to show signs of a rising tide.
The vast increase of traffic in all parts Of the
country is beginning to show its effects on
the earnings of the railroads. The money
situation has grown easier and is now res
ieyed of any causes for apprehensiCn except
such as may grow out of exports of gold to
South America and other foreign countries,
though even in that case the balance of
trade is running so favorable to the United
States that we are likely 10 import gold in
stead of exporting. In the immediate affairs
of the railroads also feature of the greatest
importance is the movement for alliances he
tween great systems to make them practically
one as far as their running arrangements are
concerned The alliance of the Union Pa
chic, not only with the Northwestern. but
with the Chicago q Alton ard the Denver,
Texas d. Fort Worth is now an established
fact and sets the example which will neces-
sarily be followed by other roads, until there
will be in each section of the country all al
lied system that will control all other roads
in the same territory, and though there
will be some railroad wars yet they
are not likely to be so damaging
to the whole railroad interest as heretofore.
Government bonds have been dull and
steady. State bonds have been neglected
The total sales of stocks to-day were l74.-
631 shares, including: Atchison, 4. 9'i5: Del
aware, Lackawanna d Western. 5,0l7: D.
II. d +. w, 4.21l; Erie, 1900; Louisville
4 Nashville. 5.561; Missouri Pacific, $3.50:
Ing, 4,70u; Richmond d West Point,
"a 5: St Paul, 1905; Union Pacific,
"a, $50; Western Union, 1886. The ex-
ports of specie from the port of New York
last week amounted to 1922, 272. of which
S24, ZOO was in gold and $299,572 in silver.
All the gold went to South America, S297,-
S32 silver went to Europe and $40 silver
went to South America. The imports of
specie last week amounted to 81 1882, of
which $i26, $50 was gold and S52, log silver.