St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-25
FINANCIAL.
New York.

New YORK, Nov. 23.-Clearings. S130. $685.
OBJ: balances. s., 72S. see. For the week:
Clearings. 99,437, 100: balances. $50, l15,-
49,. Money on call easy, with no loans;
closed offered at sac per cent Prime
mercantile paper. 667l2. Sterling exchange
quiet and steady at 81. SUs4 for sixty day bills
and S4S6 for demand. The stock market.
owing 10 the absence of large number of
brokers at the Eastern sports, was quiet to
dull to-day and the fluctuations. as rule,
Slight and without significance. The bears
rel eWed their attack upon Reading with but
poor success. and Louisville d Nashville and
some of the specialties felt the in
fluenee eff the pressure brought to
bear. The market displayed firm
undertone throughout, and after the
issues of The bank statement, which pub
lished earlier than usual, and was regarded
as favorable. there was covering of shorts
upon a liberal scale, and the upward move
ment which followed was very pronounced.
Outside of Reading and Atehison there was
little interest in the stocks of the usual ac-
tive list though the Northern Pacitics at
tracted considerable attention. Atchison
was strong on the semi-nfficial statement
that the success of the reorganization plan
would be announced to-day. but like all the
active stocks IFS final gain was insignificant
The center of interest i'll the regular list was
Chesapeake d. Ohio, which was strong and
active for all three classes of stock Oh the be-
lief that the Vanderbilt-Drexei-Mo
gan interest were buying for. a
turn. and had so advised their
friends. The common stock was most act
i've, but the preferred stocks took the lead in
the upward movement and both scored ma
terial advances. There was more interest in
the 5rnsts, and the reorganization of Cotton
Oil announced thata majority of the certif-
Gates had been deposited under the plan, and
that after Dec 2 certificates will be received
only upon payment of such penalty as may
be fixed by the committee. Most decided
strength was shown by Cotton Oil IN the last
hour, and it closed with a marked gain. A
large short interest in the stock is reported to
have covered yesterday. which was not with
ont its influence upon the stock. San Fran
cisco preferred was the special weak
point in the list. ami it dropped 3
per cent to 80 GU light trading. but
recovered about half of the loss. The close
was active and strong at the hest prices of
the day. The sales of listed stocks, how
ever. were only 1851. Railroad bonds
were active for the short session to-day, the
sales reaching 1886, U0O, though only two
issues, the Atlantic d Pacific incomes and
the Gulf, Colorado & Santa Fe 6s, showed
any special animation. The tone of the
dealings was moderately strong all the way
out, but the final changes were in but few
cases for more than fractional amounts. The
sales of bonds for the week were S7.219, 900
against So 336, 900 for last week. The Posts
financial article says: The bank st ltement
showed that owing to decrease of 50, 292,-
quo in the deposits, there was an IN
serve. This was technically favorable
statement because the surplus reserve
showed that the banks were in an easier con
dition than a week ago, but the decrease of
deposits showed also that they had been
obliged &c call in some loans during the
week. Nevertheless the increase of the sur
plus reserve fund was accepted as Indicating
that the critical point had been passed, and
that there would probably be no further call
ing in of loans With this view, the whole
list of stocks advanced 14@94 in the thirty
minutes after the bank statement and closed
strong. 1t is remarkable. however that with
all the ups and downs from day to day in the
last week, the prices of the leading active
stocks are only changed fraction from their
closing prices of last Saturday. Govern
ment bonds have been dull and steady.
State bonds have been neglected. The ex-
ports Of specie from the port of New York
last week amounted to 1868. I21. of which
S76,S.9 was i'll gold and S4S6 292 silver. All
the silver went TO Europe and all the gold to
South America. The imports of specie for
the week amounted to S203,D74. of which
SI36,6S5 was in gold and S66.3 in silver.
The total sales Of stocks to- day were 126, 1855
shares, including; Atchison, S,275; Della
ware, Lackawanna & Western, 20 @; Louis
vile e. Nashville. 1928: Northwestern.
1919; Northern Pacific preferred, 4845 /;
Oregon Transcontinental, 1925; Pacific
Mail, 1000; Reading, 200; Richmond &
West Point, ISIS; ST. Paul. $3.50; Union
Pacific, ISIS.