St. Paul daily globe., 1889-10-04
New York.

NEW YORK. Oct 3-Clearings S14O, I23. .472:
balances, So, ,626, 30. Money on call tight
ranging from to IL; last loan, 8; closed
offered at D per cent Prime mercantile
paper 5I2ll 7I2c. Sterling exchange quiet
but steady at 81 50 for oO-day bills and
S4.S712 for demand The money market
settled down to-day with exas Derating slow
ness, but had not more influence to-day than
during the past few days. The market was
decidedly weak throughout the entire ses-
sion, and on some stocks the bears jumped
with both feet aided principally by the fear
of further gold shipments, eDgendered by
the fact that the reserve of the bank of Eng
land is down to 1913 per cent, against ~ Is
per cent last week, when the advance on
the rate of discount was made. There
was no further advance made today, bu5 the
gold which has gone out is believed TO have
gone there, and the negotiation of O large
loan TO Brazil by the Rothschilds makes it al
most certain that more gold will be needed to
fill the gap. The market opened with a
steady tone, but the bears got to work imme-
diately and the pressure was again specially
severe against AtchisOn for no particular
reason. and against cotton oil, which has
been so firmly held through the weakness of
the other trusts. 1t gave way finally and
brought sugar along with 1t. The Chicago
people were very prominent in the selling OF
this stock, and they also sold St. Paul Iiber-
ally on the decrease in the earnings for the
month of September, although the fact that
it contained one day less Than last year was
well known. Manitoba and Burlington were
noted exceptions TO the rest of the list, being
strong all the way out, although the former
had q severe set back in the after
noon. AS the day wore along, the
pressure extended to the entire active list
and even such specia!ties as Pullman were
affected and prices steadily declined without
importance. The market closed active and
weak at the lowest prices of the day. Almost
everything on the list is lower, and Cotton
Oil lost 3Ss; Manhattan, "a, sugar. Us /:
Atchison. 25s; St Paul, Reading and Pull
man, u each: Missouri Pacific, 2l5; Lack
awanna, New England and Northern Pacific.
preferred, l per cent each. The railroad
bond market, although the dealings extended
to large number of issues, was still dull
and except for a few wide movements
among the inactive issues, was en-
tirely devoid Of feature. The movements.
as usual, were extremely irregular,
but the general tene of the transactions was
weak, ami losses are noticed in majority of
the list. The total sales reached only 1886,
600. and no special animation was shown in
any part of the list. Governments dull and
steady. State bonds entirely neglected. To-
day was another day of light money, loans
being made as high as IL per cent on call,
and the majority of the loans being made at
a higher rate than per cent. More appre-
hensiOn is felt in regard TO the situation than
on any previous day this week. and fears of
trouble are expressed should the stringency
continue tomorrow. The total sales of stocks
to-day were 3D., ,O00 shares, including: At
Gibson, $3.50; ID. L. d W, 10.04I; Louis
vile & Nashville, $500; Missouri Pacific,
S,100; Northwestern, 1880; Northern Pa
cific preferred $3.50: Reading. 90. $40: ST.
Paul, 44,915: Union Pacific, 5.T5u.