St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-24
New Work..

New YORK, July 23.-ClearingS. Sl15, 1922
63l; balances. 5000 S72 Money easy
at 2I2@3l2 per cent; last loan, 2i2; closing Of
fered at 2. Prime mercantile paper, 4S4@6
Sterling exchange dull ana steady at 81 SO
for sixty-day bills, and S4.9734 for demand.
The stock market to-day during the first few
hours displayed more animation, with
more decided tone, Than it has done for
weeks. and under the influence of more
favorable new and good buying for both
sides of the account, material advances were
scored in all portions of the list. The for
eigners were again buyers in this market, and
the amount of their purchases is stated at
10000 shares, while the covering of shorts
time being, were Going little, and
the absence of the usual offerings
of stock set some of the smaller traders and
bears to covering their shorts, which had the
effect of opening the market up from 18 to
"a per cent, while i'll the early dealings con-
siderable of a squirt was made, almost every
thing moving up fractions further. Atchi-
son was the only marked exception, and 1t
tetired "a per cent The movement was eX-
planned by The fact that some of the shorts
wished to get back their lines of the stock
at lower figures and rumors that the com
pany would be compelled to pay about
S300,000 for damages in Chicago helped
along the effort to get 1t down. The stocks
of the c. G. c. d st. Louis early became the
strong feature, and the common especially
moved up over 2 per cent. In the general
list, however Missouri Pacific, Union Pacific,
Northern Pacific preferred and the Cnesa
peake Il Ohio stocks were all remarkably
strong and the latter later Ill the day became
q feature. The report was that Drexel, Nor
gan d Co. had bought from Mr.. Huntington
100000 shares of the stock, and the infer
ence was that it was for the Vanderbilts, who
would then have control of another through
line from the Atlantic seaboard to the West
After the first demand was satisfied the mar
ket became intensely dull, and the prices as
usual sagged off slowly and many stocks re-
tired to the neighborhood of the opening
figures. The buying began toward delivery
hour, and a sharp upward movement was
made which again reached all portions Of
the list, and Burlington crossed par and
special movements were made in many
stocks The most marked were in Sugar
Trust and Hooking Valley, the latter being
Influenced by q report that protection COM
mittee was to be formed 10 keep the road out
of the receivers hands. The market finally
closed with a fairly active business and
strong at the best prices OF the day. The en-
tire list is higher, and c. c. G. q st. Louis
rose 25s, Sugar 2l2. Hooking Valley 3A,
Rock Island 15s, Chesapeake & Ohio first
preferred .. Northern Pacific preferred lSs,
Union Pacific ia, New England, Northern
Pacific and Reading rs each Chesapeake d
Ohio, burlington q quincy Lo o y
Wheeling & Lake Erie per cent EACH and
others fractional amounts. Railroad bonds
were more firm i'll sympathy with shares,
but the market was dull. the sales reaching
only S9s3, QUO of which Reading as con-
tributed S149, 900. The feature of the day
was the Hooking Valley 5s, which rose 2ss
to 6SLa; Minneapolis < st. Louis lists, to
81. Government bonds have been dull and
barely steady. State bonds have been en-
tirely neglected The total sales of stocks
were 165, 900 shares including Atchison,
90, $50; Missouri Pacific, $3.50: North
western, 1870; New England, 1850; Read
ing, Is, 100; st. Paul. 16,5S5.
R. M. NEWPORT g. SON,
Investment Bankers,
5ro 1E2 ood 16H DnoLa PIock 81 Douf