St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-10-09
FINANCIAL,
New York.

New YORK Oct. S.-Clearings. SlS1. 6S5.
0l3: balances. 1856, 169. Money on call
easier, ranging from to 6: last loan 4 a;
closed offered at D per cent. Prime merean-
tile paper 5l2G7I2. Sterling exchange quiet
and heavy at 80 fer siXy-day bills. and
81 S614 for demand. The stock market pre-
sented stronger front to-day and the stocks
of the regular list once more became The
leaders, while the trusts were comparatively
quiet, and occupied a much less conspicuous
position in the market than for the past two
weeks. the change for the better il the
monetary situation was the most important
factor in this Improvement and to-day most
of the business done was at Coz per cent.
though loans were made as high as in the
forenoon. and as low as toward the
close. The strength of the trusts was
the feature of the early trading, and later
there was a heavy drive at the grangers,
which, for a time. gave the bears the com
plete control of the market. After this was
over. however the whole face of the market
underwent a marked change for the better,
and sharp rallies were in order all over the
list the covering of shorts being on q large
scale and the buying for the long account
was stimulated to a considerable extent. The
London market was all higher for Americans
this morning but the opening here was very
irregular. and while Northern Pacific was up
34c. JERSEY Central was down l per cent. The
trusts early showed considerable strength,
but there was vet a severe pressure upon At
Gibson and the gTangers. in which the
coal stocks sym pathiZed- and jersey Central
made material decline in the early dealings
The full force was brought to bear upon the
grangers after ! o'clock. and-BurlingtOn es-
peeiallv felt the attack severely. The attack
upon this stock had the appearance of a
a drive 10 buy upon, and while considerable
long stock came out on the decline there is
reason To believe that the heavy lots aimed
at, which have accumulated upon the late
rise, were not forthcoming. The talk OF the
issue of a large amount or incomes to come
ahead Of the stock helped TO keep the flow Of
long stock going. When the pressure was
removed the rebound was sharp. and before
noon a portion of the loss had been re-
gained The demand from the shorts made
an active and strong market for the
the time being and operators for a rise. who
have held aIOOf for some time back were en-
cOuraged to again take hold. though their
purchases were made with much caution.
Chicago turned mp as buyer OF stocks, and
this was accepted as evidence that the specu
lative clique al that center had changed its
opposition upon the market. In the upward
movement there was some very sharp ad-
vances made among the specialties. and San
Francisco preferred. which had sold dow to
So from 59l2 last evening. recovered TO 90.
Manitoba also continued its recovery, and
sold Up to 1l6l2 against Ill yesterday. Cot
ton oil dislayed the most positive strength,
and followed by sugar. material advances
were made before the close of bust
ness. Burlington did not quite recover
us loss OF ZL2 per cent. DuC closed
only fraction below its last
nights price. The upward movement con-
tinued throughout the afternoon, and while
there was some taking of profits which car
ried some stocks down slightly below the
best figures. the market closed quiet and
strong at or near the highest prices of the
day. The final changes are somewhat irreg-
ular, but advances are in a majority, and
while Canada Pacific lost u, San Francisco
preferred like amount and Jersey Central
1 per cent, Manitoba rose B. cotton oil Gig,
sugar 25s, Tennessee coal Ia. Northern Pa
cific preferred IA, Big Four, lis, Missouri
Pacific l per cent. and others fractional
amounts Bonds were dull as usual, and
presented a weak front generally. though
The dealings were devoid of feat
ure and interest. The business done
amounted TO only S7SS, 600. and
without important movement among the
active stocks. Governments dull and steady.
State bonds dull and steady. The total sales
of stocks TO-DAY were 2S2, $40 shares, includ-
ing Atchison. 49,S75; Delaware, Lackawan-
ma & Western. 1904; Erie. 6.665: Louis
vile & Nashville, 1880; Missouri Pacific.
1926: Northwestern, 9,095; New Jersey
Central 8, 400; Northern Pacific preferred,
$500; Reading, 25,6)u; Richmond d West
Point, 5.9l3; st. Paul, So, 260; Union Pacific,
1915; Western Union, APO.