St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-30
New York.

NEW YORK. Nov. 29-CIearings. Sl36. $40.
7I2: balances. S4,Sl3, 49, Money on call
tight, ranging from to Is per cent; last
loan, II; closed at 10 per cent bid. Prime
quIeI and steady al S4.SJs4 for sixty da. bills
and S4Si for demand. The stock market
was active and weak to-day i'll all its depart
ments, and material losses from Wedr sday's
figures resulted. though the afternoon saw Il
some what better condition OF affairs than
the early portion Of tie day. The full effects
of the Lynn fire and the sensation in Chicago
Gas trust were not fully over and The market
was subjected this morning, to the influence
of another disastrous fire in Boston, and
every one came down with the expectation
of seeing materially lower figures in which
no one was disappointed. As,was natural
there was considerable pressure to
sell from timid holders of stock.
was for the short account The bears ex-
peeted that The heavy losses by the insurance
companies would compel the selling OF
numerous securities, especially those in
which Boston is most interested. and the re-
suit was seen in the special pressure put
upon such stocks as Atchison. New England,
Burlington. Union Pacific. Denver, Texas d
Fort Worth and 81 me uf the speclaIties: but
the impression made, especially in the first
few. was insignificant The chief interest
was still in Chicago Gas. and that stock fur
nished large proportion of the declines up
To noon. Chicago houses were again liberal
sellers OF stock. and although rumors of in
side buying were circulated the stock yielded
almost as easily as on Wednesday. There
was no rally of importance except after the
first drop i'll the forenoon. The influence
of this weakness was felt seriously
by Consolidated Gas. whose position is
almost identical with that of Chicago Cas-
and on light dealings that stock ran off
nearly per cent. The bears renewed the
attack upon Missouri Pacific and forced it off
more than the average Of the regular list, In
which stop orders played a very important
part. Sugar Reiner.es sold off with the
Others but the other trusts were compare
lively well held. After the first decline of
the forenoon q rallying tendency appeared,
and word was received from Boston that the
estimates of the damage were not only
largely exaggerated out that most Of the
risks we're placed with foreign corporations;
and. some covering resulting, the bears were
driven to other eXpedients to keen the ad-
vantage they then held. The money scare
was revived and was aided by the near ap-
pToach of the first of the month with its
disbursements and by the fact that the day
was Friday, when there is usually e
scarcity of money to loan because of the rule
making all loans run Until Monday. The
rumOr of the withdrawal of the public depos-
its from the national banks was again made
to do duty in this connection, and money
which had ruled easy on call at about the
legal rate all the forenoon, was bid up TO IL
per cent before the close, precipitating au-
other selling movement among the weaker
holders and causing the loss OF all the i'm
T.rovement from the lowest prices which had
come after the removal of the pressure of The
forenoon. Chicago Gas dropped still further
and many of the stocks in the regular list
reached lower figures than they had seen in
the morning. Tennessee Coal and san Fran
cisco preferred, however. which had each
broken over per cent, held steady,
and the former even made some i'm
Proyement Many Of the specialties were
hard hit however, and Denver, Texas q Fort
Worth, Milwaukee, Lake Shore &
Western C. c. c. & St Louis
and Wisconsin Central declined ma
terially. Western Union also yielded rap
Idly in the last hour. being found particu-
larry vulnerable. The market finally clused
with a moderate volume Of business and