St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-23
FINANCIAL.
New York.

New YORK. NOV. 2.-Clearings. S129. 967.-
631: balances, S7.4 l8,O43 Money on call
tight, ranging from 5 TO IL per cent; last
loan 8, closed offered at per cent. Prime
change quiet and steady at $4.SUs4 for
sixty day bills and S4.S5 for demand. There
was renewed interest III the trusts to-day.
and the stock market was less active for the
regular list but the unlisted department
showed a marked increase in the amount Of
business done. The temper of the specula-
ton was alternately weak and strong within
narrow limits, the general drift of prices
being downward during the forenoon and
upward for the remainder of the day. There
was great disinclination to trade. and the
active work in the market was done almost
entirely by the bears and traders. The news
of the day WAS unimpOrtant, except for the
announcement of some arrangement be-
twee n the Rock Island and the Atchison,
supposed to be similar to that between the
Northwestern and the Union Pacific, though
the exact nature Of the deal is still matter
of speculation. The bears made considera-
BILE effort to get the prices of the coalers. the
trusts and the Southern stocks down, but the
only weak spot uncovered was Wheeling and
Lake Erie, which dropped over per cent on
selling orders said to be for Boston account
and induced by rumor of further issue OF
preferred stock. The manipulation OF the
trusts was not confined to one sioe,
but efforts were made to lift as well
as to depress them, and the bears gave it
up toward the close. when marked upward
movement took place in all OF them. Lead
was sold on reports that the trust would also
be converted into q corporation with Il regu-
lar capital. The alliance between Rock ISIS
and ana Atchison did not seem to have much
effect upon Rock Island after the opening,
but Atchison was strong, especially in the
afternoon, and scored material advance on
a very moderate volume of business. The
deal also had a rather depressing influence
upon Union Pacific. but that stock fuctuated
within narrow limits, and its final change is
insignificant Denver, Texas d. Fort Worth
pursuing the same course. The Chicago
people were buyers of the Northern Pacific,
Oregon Transcontinental and Wisconsin
Central and squirt of activity and strength to
the properties turned the tide Of prices at
the beginning of the afternoon. There was
drop of per cent in New England also,
but this was soon afterward recovered. Rock
Island and Atchison were the only stocks
showing any material change at the opening
this morning. both being up large fractions
though Wheeling & Lake Erie preferred was
down over per cent. The weakness in the
latter and Denver, Texas & Fort Worth and
Lead trust WAS the feature of the fOrenoOn's
trading, but everything strengthened i'll the
afternoon and the market closed on squirt
of strength with most of the list but slightly
changed and the gains and losses about
evenly distributed. Wheeling Lake Erie
preferred was the only important decline,
losing 2SS per cent, while Cotton Oil is up
] IS per cent Sugar 13S and Chicago ! ls.
Railroad bonds were quiet, and sales of all
issues reached only Sl.22I 900, which was
well distributed. The market was stronger
than it had been for some time, however. and
many bonds show improvement tonight
Lake Erie & Western lists rose 2 to l13;
Shenandoah Valley lists receipts :12 10 i 4.
and Atlantic & Pacific incomes TO 1314.
The Posts financial article says: SIN the
afternoon the report that some kind Of an
alliance had been made between the Rock
Island and the Atchison was confirmed, but
il was generally conceded that in view of the
fact that the Atchison has line of its own
from Atchison to Chicago and which is
a parallel competitor with the Rock Island
line from Chicago to Leave uworth. it
could not be any such compact as
was made between the Union Pacific
and the Northwestern. and in all probability
amounts only to giving the Rock Island the
privilege of running through trains from
Chicago to the Pacific coast. Nevertheless IL
is another instance of the leading idea of
the present time. which is TO unity the man
agement of the railroads without consolidate
eminent bonds have reen dull and steady.
State bonds have been entirely neglected.
The total sales of stocks today were 297 .3l7
shares, including: Atehison, 19. 80; Della
ware, Lackawanna & Western, 6,927; Den
yer, Texas & Fort Worth. 7.2O4; Louisville
& Nashville, $3.50; Missouri Pacific, 1880;
Northern Pacific preferred. 6.tl52; Oregon
Transcontinental, $3.50; Heading, 23,9OO;
Richmond d West Point, 3,349; St. Paul.
1866: Union Pacific, 22,925.