St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-09-28
New York,

NEW YORK, Sept 27.-Clearings $780,
126, 74a: balances. 81. 205. $50. Money on
call was tight, ranging from 5I2 to 10 per
cent; last loan. o; closed offered at 6. Prime
is quiet, but firm, at 81. s3S4 for sixty-day
bills and S4.SS for demand. The stock
market was more active today and displayed
more character than il has in many months,
and the dealings were attended with much
excitement The final result of the day OPP
eratlons. however, as far as the regular list is
concerned. were generally only fractions
The feeling this N Orning was very hopeful,
not TO say confident and higher prices in
London, with good buying from that center,
with the continued favorable returns of earn
ings were influential in establishing higher
range OF values at the opening The
market displayed q decided broaden
ing tendency, the number of stock
traded in during the first hours business
being larger than at any time this year, While
the volume of business was on correspond
ing scale. The local bull leaders were more
active and the increase OF the number of or
ders executed for outsiders was very marked.
Rumors from Boston in regard to the presi-
dency of the Missouri Pacific made that stock
the leader in the early trading, and it was
soon followed by LackaWanna, Cleveland,
Columbus, Cincinnati & ST. Louis and some
others, while Manhattan continued its up
ward march on rumors Of a settlement of the
claims of property owners against the COM
pany. Pullman also displayed unusual
strength on light dealings and later Michi-
gan Central joined the procession. Sugar
trusts were still weak and made a material
decline in the forenoon, which extended to
about per cent, but ii seemed to have little
or no effect upon the regular list, as no reason
could be assigned for the drop; and the rest
of the market was effectively divorced from
its movements After IL o'clock however,
there were ugly rumors set aflOat in regard
to Atchison and il was stated that the Hnan-
cial plan for the rehabilitation of the COM
pany would prove failure. necessitatng a
receivership; default on the October inter
est was also promised, while the reorganiza-
ton scheme was TO include a SO assess
ment. There was a flood of the stock for
sale, and q break was started which only
ceased when the stock had declined some
thing over per cent. Denials of the stories
circulated were made, but they seemed to
help the stock butlittle, and when the selling
movement had exhausted itself the rally was
feeble ana could not hold. Sugae Trust,
which had given signs of inside sup
port went down again, and its ex-
movements created great uneasiness in the
room, and The pressure to sell extended to
all portions of the list, and before delivery
hour all the advances of the forenoon were
wiped out, and in most cases fractional losses
in ADDITION were sustained. AL the notable
strong stocks of the forenoon. such as Jersey
Central, Manhattan, Missouri Pacifit Lacka-
wanna and Delaware & Hudson. dropped
ThplQlE, Wnlie the Otners kept pace, anu III
every case the opening figures were passed
in the downward movement. The selling
craze came TO halt toward delivery hour
end reaction began, which made some
progress, notwithstanding the fact that
money on call was bid up to 10 per cent.
The activity disappeared from the market,
however. and the movements became limited
TO small fractions generally, though in the
case OF Manitoba, most pronounced strength
was developed, and it rose 2l9 per
cent. Manhattan. Jersey Central and Della
ware & Hudson rallied sharply, and Sugar
rose from 1913 TO 90. ana Atehison from
34sz to Sc. The improvement in most of the
list was slight, however, and the tone of the
market at the close was unsettled and rather
heavy. The final changes are quite irregu.
lar, while declines are rather the more
numerous. but generally confined to small
fractions. Sugar is down Gig, and Cotton
Oil and Line . per cent each, and Atchison
4. The important advances include Mani
toba and Manhattan, each per cent, and
Jersey Central and Lake Erie Western pre-
ferred each per cent. Railroad bonds re-