St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-03
FINANCIAL.
New York.

New YORK, July 2-Clearings, S190.157,-
166; balances, $9,49S, $50. Money on call
easy at 2l2 per cent: last loan 2, closed
offered at g Prime mercantile paper, 40
5A. Sterling exchange more active and
weak, with actual business at Sd SO for sixty
day bills and 4S9 for demand. The day in
the stock market was one of reaction, which
lasted throughout the entire time, and the re-
suit of the days trading is to leave everything
traded in with but few exceptions materially
lower than last evening The trusts were
still active. but railroad stocks once more
came to the front. and the proportion be-
tween the sales Of the listed and unlisted
stocks was restored to the normal. Atchi-
son was the great weight upon the market
and TO the rumors and stories of trouble
in the finance of that company was due more
than anything else the weakness displayed
in all portions o the list to-day. 1t is true
that all the obligations of the company have
been met but the story from Philadelphia
that the ;emaining $4,000 600 of its second
mortgage notes had been issued set going all
the stories of the financial embarrassment of
the company. with the old talk of receiver,
and although the story of the issue of the
notes was denied from Boston, it did not
stop the decline in the stock, nor rem owe the
impression that the company qad been COM
PEELED to borrow money to meet its pressing
needs. The result was break of nearly 4
per cent. To this was added the Influence
of the positive refusal of the Burlington &
Northern to Withdraw the low commodity
tart # and other expected complications in
the West which set on foot q selling move
ment in the CHANGERS and st. Paul, Burning
ton and Rock Island followed with material
declines. Missouri Pacific WIS sold in sym
pathy with Atchison and New England, not
meeting with its recent good support yielded
to the heavy realizations; The coalers were
more quiet than any of the larger groups Of
stocks. but Lackawanna showed considera-
BILE weakdess, especially in the afternoon.
The trusts were active, though only in Ma
tional lead was the recent large volume of
business in those shares approximated, and
the realizatlons on the recent 6 per cent rise
in sugar caused a sharp break of 8 per cent
in that stock in the first few minutes,
which was to large extent the re-
suit of uncovering Of stop orders. This was
continued weak, and toward the close the
weak tone spread to the others and both Lead
and DistillerS broke materially. There was
throughout marked indisposition to embark
in any new ventures over the holiday, and
the room being bearish advantage was taken
of the selling of Atchison and the realiza-
tions in the trusts to hammer the entire list.
The market, which had ruled dull, except
for the leading stocks, became quite active
in the last hour and the close was weak at
tire active list is lower to night, and Atchison
shows a loss of ga, Missouri Paci-
fic 2, New England 2ls, Burlington 1ss,
ST. Paul and Rock Island each lis, and
LackaWanna per ceuI. sugar is uOWii
3as. Lead 2 per cent, and Distillers ls. Rail
road bonds felt the influence Of the weak
ness in stocks to-day, and although there
was somewhat more business done than
usual of late, it was generally at the expense
of quotations, and the general tone of the
market was heavy throughout the day. The
number of issues traded in was also much
larger than during the past week. Atlantic
& Pacific tours lost 27s@77. Norfolk &
Westers skies rose 2@117. Government
bonds have been dull and steady. State
bonds have been dull and without feature.
The total sales of stocks to-day were 100, 1926
shares, including: Atchison, 90, $50; Della
ware, Lackawanna & Western. 6,120: Mis-
souri, Pacific, 5000; Reading, 1910; St
Paul, 81 ,O10; Union Pacific. 3,40O.