St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-08
FINANCIAL.
New York.

New YORK, Nov. 7.-Clearings. SIS ,479.-
439; balances, So. 1855, 005. Money on CALI
easy, ranging from 5 to 6 per cent; last
loan 6; closed offered at T. Prime mercan-'
tile paper, 519@8. Sterling exchange quiet
and veal at 81. sOl2 for sixty-day bills, and
81. S4& for demand. The stock market
again showed an active business in the gen.
eral list to-day. with the trusts comp aratively
quiet, though the important movements were
in the latter. The news of the day was not.
of special importance, except the announce
ment of the decision in the case of the North,
River Sugar Refinery, which was adverse TO
the trust sustaining the previous decision of
Judge Barrett. There was moderate amount
of buying for outside centers, but,
the majority of the purchases had
their origin here and reflected the improved
feeling in the street over the easing up of
money rates. and the confidence in The con-
tinuance of plentiful supply from this
time out. The whole list with the exception
of the coalers showed strong tone and
though affected adversely by the weakness
in the coal stocks at no time displayed weak
ness The trusts to a large amount have
ceased to have an influence upon the shares
in the regular list, and the decline in sugar
to-day met with little or no response outside
of the othertrust shares. The weakness in
the coalers, however. did have an influence
and served to check the advance in the early
portion of the day, though the reaction
amounted to fractional amounts only.
Reading was again subjected to severe
pressure. especially in the first hour. but in
that stock as in most of the other leading
shares, covering of shorts became factor
toward the close of business and it actually
shows a fractional gain for the day. Jersey
Central, however, dropped away sharply on
light business aud failed to recover any of
the loss, while the movements i'll the others
were Insignificant, The support in Reading
at the lowest prices was most pronounced and
led to the free covering of the afternoon.
Among the active stocks Louisville & Nash
vile and Missouri Pacific were the, most
prominent TOR activity and strength, though
they both yielded readily at times and failed
to score marked advances for that reason.
Among the specialties Tennessee Coal was
the feature and 1t again touched 81 retaining
most of the improvement at the close. Mich
igan Central was strong and active, while the
other Vanderbilts were dull and stagnant.
Considerable animation was shown again in
Ontaeio d Western, but it failed to make
any movement of importance. The market
opened with great activity and first prices
were from 1s to " per cent higher than last
evenings figures. which was supplemented
by further fractional advances in the
first hour. Missouri Pacific and Louis
vile d Nashville and Atchison leading the
upward movement. Cotton Oil was specially
weak at this time but failed to have effect
beyond checking the advance toward noon.
Sugar and the coal stocks Joined the decline,
but the selling was seemingly over by noon
when the market became dull with slow
came most pronounced toward the close.
The market finally closed fairly active and
strong at the close to the best prices. Sugar
is down 2sS and Jersey Central 2 per cent,
but the other changes are nearly all in the
direction of higher prices. and Tennessee
Coal rose " and Michigan Central per cent,
while the others are for fractional amounts. A
moderate degree Of activity again marked the
dealings IN railroad bonds to-day. and the
sales OF ali the issues reached the sum of
So, 100, 900. The features of the trading
were Kansas & Texas rs with $685. 90. the
Fort Worth & Denver lists with S14S, 600,
the Gulf Colorado & Santa Fee lists with
$4,000, and the Denver d Rio Grande As
with Sill: 900. The entire market was
strong also. and many material advances
were scored, though there was no marked
feature in this respect as during the past two
days. The Posts financial article says: 1t
was a narrow disjOinted sort of market for
stocks this forenoon, some stocks being higher
than their highest of yesterday, and others
lower than their lowest and the greater part OF
OF the trading being OF the scalplng character
for short. quick turns OF fractions of point
without any purpose of either loading up
with stocks or going short for longer period
than day or so. Nevertheless, the majority
of stocks were "A to "a higher at some time in
the forenoon thar they closed yesterday, and
the sentiment of the street is apparently
more favorable to higher prices. Trusts
stocks have about lost their effect to depress
the general stock market, because there is
less room for and less prospect of further de-
cline, and the losses already realized by
spectators have not caused any
failures. but the coal stocks are weak
and Reading particularly stands some
what in the same relation to the
great market that Atchison did seven or
eight months ago. In the afternoon the gem
eral stock market was stronger, Atchison,
Missouri Pacific, Lake Shore and Reading
being the special features. One argument
which has helped the recovery of Missouri
Pacific in the last two days Is that if Atch-
ison shows such a satisfactory increase of
earnings. Missouri Pacific being in the same
territory must be equally benefited by the
large cotton crop. which is the cause of the
increased earnings of Atchison. Govern
ments dull and steady. State bonds dull and
featureless. The tot,l sales of stocks to- day
were 342.560 shares, including: Atchison.
29.95U; Delaware, Lackawanna q Western.
7,436; D. 7. d F. W, 9.3UI; Lake Shore,
4,457; Louisville & Nashville 81 $50: Mis-
souri, Pacific, 20,S25; Northwestern, 5,7jS:
Northern Pacific, preferred. 9.l35; Oregon
Transcontinental. 1900; Reading. 1880;
Richmond d West Point, 3.62l; ST. Paul,
5000.