St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-07
FINANCIAL.
New York.

NEW YORK. Nov. 6.-Clearings 81 SO, 079:-
664; balances, S5.707.O87. Money Oh call
easier, ranging from to 6 per cent; last
loan 4; closed offered at 3. Prime mercan-
tile paper, 5I2@S. Sterling exchange quiet
and steady at S4.Sl for sixty-dsy bills, and
81 So for demand. The stock market was
more active to-day for the regular list and
the tone of the dealings, while teverlsh ana
irregular, was generally firm, and toward the
close strength was developed which resulted
in the establishment of material advances all
over the list. The feature of the day was the
heavy selling of Reading. though the STOCK
received good support, and the hnal decIlne
is only l 10 IA per cent: There was
considerable discussion of the companys
affairs on the street and as the general ex-
pectation is that there will be little If any
thing for the incomes. The stock is farther
from dividend Than at any time since the
reorganization The bears sold the stock
literally, ana liquidation of long accounts
assumed large proportions while some stop
orders were uncovered. The decline IN Read
ing, with the heaviness of the other eoalers,
retarded the rest of the list which displayed
an advancing tendency throughout the day.
Cotton Oil was disturbing factor in the ear
" DO rtion of the day, weakening under
the rumors of a shortage in the ac-
counts of the company to be disclosed
at the meeting of The trustees TO-DAY, but
the matter was set at rest by card from thr
chairman saying the shortage would amount
to S277. 900, which quieted apprehension,
and as the feeling became more settled. the
worst being known, there was marked i'm
provement in the certificates after that time:
Money eased off as the day wore along. and
loans were made at per cent, which helped
along the bullish feeling, and in the last hour
the upward movement became most pro-
nounced. Louisville & Nashville being par
ticularly conspicuous on indications Of in
side buying. Missouri Pacific also responded
with a material Improvement and II was
known that inside support was given the
stock number of the specialties made
marked advances. and the grangers were also
displayed. The close was strong,
the only decline of note was
ia in Reading while Chicago Gas
rose 2I2; Louisville & Nashville, 1S4 Denver.
Texas & Fort Worth, ia; Atchison. liz and
Rock Island, 1ls. Railroad bonds were ac-
tive for the first time in months to-day, the
sales of all issues reaching 81. Ia, 600 and
the tone of the dealings was strong all the
way out although there were marked advances
made outside of the specially, strong issues
Of the Kansas & Texas and the Gulf, Colo
RADIO d Santa Fe. There were not only fore
most in point of strength, but also in activity,
and the Kansas & Texas was furnished
SI67, 600. the 6s. 1929, 600, and the rs S164,
roanta Fe lists contributed 1902, 900. There
was no declines of any importance. The
Posts financial article says: Notwithstanding
the continued weakness and further decline
Of Reading, and IN spite OF some transparent
attempts to get up sensations about Missouri
Pacific and Cotton Trust the general stock
market was strong, and with the exception
of Reading aud Cotton Trust, all stocks were
"a to ] per cent higher at II O'Clock than
they closed on Monday. The belief that the
stringency in the money market is over and
that though rates for call loans may not be
reduced much at once, there will be grad.
ual easing Of the market during this month
and good deal of improvement in the pork
market though as far as the western stocks
are concerned the news that the Chicago
roads have agreed to advance rates to the
Northwest about 80 per cent was a special
factor in advancing the prices of the grang-
ers. Government bonds dull and heavy.
State bonds entirely neglected. The total
sales of stocks too day were 337, oOs shares,
including: Atchison, 1875; Delaware,
Lackawanna & Western. 10, 40; D. T. d F.
w., 1914; Kansas & Texas 800; Lake
Shore, 500; Louisville & Nashville. "a
ZIG: Missouri Pacific, Is. O60; Northwestern,
1875; Reading, 1860; st Paul, I5,405
Union Pacific, 14.0S5.