St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-14
FINANCIAL.
New York.

New YORK, Nov. 1S.-Clearings to-day,
S131, 423, 439; balances, S5,42l, 100. Money
on call easy, ranging from to 6 per cent;
last loan 4; closed offered ct L. Prime mer-
csutile paper 5Ia67I2. Sterling exchange
quite aud steady at 81 S0I2 for sixty-day
bills, and S4S4s4 for demand. The total
sales OF stocks today were 275.6 shares,
The stock market was weaker again TO-
day. and the trusts came into prominence
once more, furnishing an element of dis
turbaGce whereby the general list was de-
pressed. and all scoring further material
losses. There was little change in the tenn
per of the market this morning, and no news
Of character to affect values. The
bullish feeling with the covering
OF shorts led to a strong OPEN
ing, first prices being generally
from 1s to S. per cent higher than last even
ing's figures. The improvement was met by
renewed weakness in Cotton Oil. which was
sold heavily by operators who had had infoI-
nation, which they considered trustworthy,
rejecting upon the reports of the business
done by the trust, and that the profits re-
ported were much smaller than they were
said TO be. This info ma ion was met by de-
mails from inside parties, who said that the
trust had met with no new obstacles. and
was in prosperous condition. The selling
continued. however, and an extreme decline
ofover per cent was scored in the stock,
while the other trusts sympathiZed TO some
extent, all being lower, and Lead still re-
naming active. Atchison halted in it's up
ward course. and was sold on the
opposition developed among the En-
glish bondhOlders to the plan Of
reorganization. The story was nothing but
repetition of advices received some time
ago, and the stock remained quiet, though it
ran off about per cent. This weakness af-
fected Missouri Pacific and Burlington to q
limited extent as likely to suffer in case of
Atchison going into the hands of receiver.
The other grangers, and especially St. aul
and Northwestern were strong the report
coming from Chicago that some of the large
Operators at that center were again ranged
upon the bull side. Louisville d Nashville
was also a strong feature, and among the
specialties Ontario d Western on the eXpec-
tation OF reduction in its ca pital stock, con-
tinued strong within narrow limits on large
business for that stock. Richmond & West
Point was active, the buying sup
posed to be for The purpose of control at the
next meeting. The afternoon saw some i'm
proYement in the list, though it was confined
TO fractional amounts outside of Tennessee
Coal. The raid was continued in the last few
minutes of business, however, and the
market finally closed active and weak at
about the lowest prices of the day. Almost
everything traded in is lower tonight, and
Cotton oil is down 2s4c: sugar, 1Ssc: Chicago
gas; Ac; Atchison. Isc and Jersey Central,
l per cent. Railroad bonds were quiet and
irregular but were strong in the forenoon,
weakening in sympathy with stocks later in
the day, and the Kansas & Texas issues, the
Toledo, Ann Arbor & North Michigan and
some others which scored sdvances In the
forenoon, lost all of the improvement to
ward the close. The Gulf. Colorado & Santa
Fe bonds were weaker on the opposition to
the Atchison plan. The Posts financial
article says: The sudden activity in Rich
mond Terminal grows out of a coming strug-
gle for control at the next election, when
there is likely to be another endeavor TO
make revolution in the administration of
the property. The dissatisfaction of some Of
the largest stockholders Of the Richmond
Terminal company is expressed to the effect
that the present administration has failed to
complete a harmonious and at the same time
an economic management of the running ar
engagements between the three great proper
ties controlled by the terminal company,
viz: the Richmond & Danville, the East Ten
nessee and the Central OF Georgia; that
there is prevailing policy on the part of the
several companies to carry freights over cir
cuitous routes in order to make a show
of large gross earnings instead of by the more
direct routes that would be available if the
lines were operated in unit or controlled by
the terminal company rather than Of three
distinct systems. The dissatisfied party rep
resent at least one-thlrd of the capital stock,
ana, IL is understood, will endeavor to elect
Calvin S. Brice to the presidency Incident
ally 1t may also be stated that George g.
Scott has declined to continue as president
of the Richmond Il Danville, though he will
probably remain Intimately connected with
the management. Governments dull and
steady. State bonds dull and featureiess.
Atchison, 34,47O: Delaware, Lackawanna g.
Western. 6,5l6; Erie, 600; Lake Shore,
1920; Louisville & Nashville. 500; Mis-.
souri, Pacific, $500; Northern Pacific pfd,
6.S14; Reading, % 22O; Richmond & West
Point 1908; st. Paul, SO, $50; Union Pa
cine $500.