St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-26
BANK OF MINNESOTA.
Paid Up Capital. 100000.
Surplus, 500, 900
VIM. Dawson, Pres. Robt. A. Smith, V.Pres
VIM. Dawson. Jr.. Cashier.
FINANCIAL.
New York.

New York, July 25.-Clearings, S103-
500, 10; balances So, l55, 1888 Money easy
at 2@3. last loan PIP, closing offered 212
Prime mercantile paper. 44@6l2. Sterling
exchange more active and weak at 4.S5$I for
60day bills and 1874 for demand. The
stock market was weak at the opening this
morning, but soon recovered and advanced
steadily throughout the remainder of the
day, scoring material gains before the close
The London operators evidently do not SYM
pathiZe with the recent declines in this mar
ket for the prices from that center again
came higher this morning. The reports of
the great dry goods failure. however, created
a bearish feeling among the trading element
here and first prices were all from 1898 per
cent below last evenings closing fig
ures aud by vigorous hammering at
the outset further losses were estab-
lished the impression upon prices ranging
TALLY the result of an interview with rail
road official i'll which the status of the inter-
state association was made light of as well
as the disappointment over the reported ut
terances of Mr.. Gould which the street did
not regard as positive enough. The new G..
C. c., & st. LOUIS stock was forced off lac.
and sugar trust l12c. The decline brought
in good buying, however, and strong sup
porting orders soon made themselves felt and
this scared off the traders for the time being
and the market became intensely dull, but
changed its tone decidedly for the better
The fluctuations were made within the mar
rowest limits, except for the specially
weak stocks of the first hour which
before all of them were again above the
opening prices. Union Pacific displayed
most stubborn strength on the fact that the
increase in the net earnings for June would
be about $500, 600, and it rose without set
back, finally scoring the largest advance of
the day. In the afternoon there was reduc
ton in the rates OF the foreign exchange
drawers. and this gave rise to the expectation
that there would be no shipments of gold this
week. 1t was announced that the reduction
was because of the increased supply of grain
bills for next month. and that
a further reduction might be ex-
pected, which gave an impetus to
the new bullsh feeling. and in the last hour
Atchison, Missouri Pacific, St. Paul, sugar
trust and others became very prominent for
strength. The market finally closed quiet
but strong at the best prices of the day. The
unlisted stocks were more active, and 27,156
shares were sold, lead contributing 16,6 35.
There were few fractional declines for the
day, but the great majority of the list are
higher tonight, though the only marked
changes were gains of y in Union Pacific
and per cent in Northwestern. Railroad
bonds continue to show constantly increas
ing volume Of business, and the sales
of all issues today aggregated only
$4,000. The market was not weak
however. and though there was considerable
irregularity. prices are in most cases slightly
higher. Among the advances are Rock Is
/, land Us, 2 to 1859; Hooking Valley 6s, ga
to 54l2; Buffalo & Erie new, to 1872; Utah
Southern general rs, 3 to 11s, and Wheeling
d Lake Erie lists, 21s to 1918. The losses
include st. Paul H. & D. rs 2 at 124la. and
Intern ational lists, 8 at 1922 the DDS , at
62l2. Government bonds have been heavy
for the Is. State bonds have been entirely
neglected. The total sales of stocks were
15S, 1873 shares, including Atchison, 20
$50; Missouri Pacific, 10.7OG: Reading, To-
z9o5: St Paul. 3O.750; Union Pacific, $685..