St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-12-20
FINANCIAL.
New York.

New YORK. Dec. l9.-Clearings. s117. $685.
OO3: balances. 81, S39.72O. Money on call
easy, ranging from to per cent; last loan
at 3 per cent; closed offered at per cent.
Prime mercantile paper. 6@7l2 per cent
Sterling exchange quiet and steady at
81. sOs4 for sixty-day bills and 81. S44 for
demand. The stock market was more active
and decidedly strong to-day. making a.
marked contrast with the trading of yester-
day and material advances were made all
along the line under the lead of Missouri Pa
cific and specialties Missours Pacific was
by long odds the great feature of the day.
and buying in it was for both sides OF the
account, several prominent operators being
conspicuous as buyers of large blocks OF the
stock. The declaration of the dividend COM
ing so soon after the attempt to depress the
stock by means of report six months old,
and which failed to get credence upon the
street. was powerful element in the buying
movement, while the handsome surplus
shown of nearly 81 200, 600 was another
Beside there were reiterations of the rumors
which come in more credible
shape. that there has been, or
will be some arrangement between the
Missouri Pacific and the Kansas Il Texas,
which will be advantageous to both sides and
incidentally TO the stock market The at.
tention of the bears was given almost exclus-
i've to the coal stocks, but after the first
hour trading, the course of these properties
was upward with the remainder of the list.
These transactions were large, but except in
LackaWanna. the changes were unimportant.
The rumor of the deal between the Missouri
Pacific and Kansas d Texas also stimulated
buying of the liter stock and it scored per
cent advance. though all of it was not sold at
the close. Among the specialties, Chicago, st.
Louis d PlttSburg continued its late rise and
reached still figures. followed by Chicago Gas
and Denver, Texas d Fort Worth. Sugar was
again very prominent in the dealings, and
after opening off per cent, 1t rose 8, helped
by the scarcity OF the stock for delivery. and
the belief that IL has gone into hands which
are able 10 hold it against any attacks to
which it maybe subjected in the future. The
advance brought it up TO 59H, and most of
the improvement was retained. Consolidated
Gas also continued its rise of the past few
days. and on small transactions scored a ma-
terial gain. The remainder of the list were
dull and listless throughout the day, and call
for no comment. The trading in unlisted
stocks reached 5,945. Railroad bonds were
quietand while firm tone prevailed through
out the day. the dealings were marked by
no feature of importance, beyond the actiy-
ity and strength in the Kansas & Texas IS
and the Atlantic & Pacific As. the former
contributed S23S, 900 and the latter $l3l 900
to the days total of 81 ,47S,J 90. Peoria, De-
catur L. Evansville firsts rose "a at i03, and
Reading second incomes 2 at %. The Post
says: So far as the coal stocks are con-
cerned, each day develops something addition
ally unfavorable for their prospects. The
report now comes from Philadelphia that
the Reading Coal d Iron co. has notified Its
workmen that the Schuylkill collieries will
only be operated on three-quarter time
after Monday. This is made neces-
sary by the accommodating stock of coal
or which The demand is insufficient 10 take
the production. The officers Of the Oregon
Improvement company say that the report of
their proposal to negotiate a loan of $15,-
90 o is only partially correct, as the
amount which they require. and desire to ne
gotiate now is only Sl0.uOU, 100. With the
proceeds of this they propose 10
take up or purchase, as soon as prac-
Iicable, the $4,49S,DOO 8 per cent first
mortgage bonds and S2,O00,OO of per cent
preferred stock. the interest on the latter be-
ing considered part of the fixed charges.
The interest and dividends on these amounts
to S4l6,OUO per annum, whereas the interest
cents would be only $40, GOO per annum.
With the remaining SO, DOC, 900 or so of the
proceeds of the 500 0,000 they propose to
build one, and possibly two new steam ships
for their coast line, of which the business is
steadily increasing. During the last four
months the company has had an improved
market at San Francisco for Its coal. and the
officials say they have more than earned the
quarterly dividend on the 81, 10000 of COM
mon stock for the quarter to Nov. 30. Gov
eminent bonds have been dull and steady.
State bonds have been quiet, but firm.
The total sales of stocks to-day were 26l,-
797 shares, including: Delaware, Lacka,
wanna d Western, 3S, S25; Denver Texas
& Fort Worth, g, 4S4: Erie, 3, 100; Kansas q
Texas 9,S53; Missouri Pacific a, FOL;
Reading. 80, 300; st. Paul, 1888; Union
Pacific q 400