St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-04-26
FINANCIAL.
New York.

New YORK. April 25.-The clearings to-
day were $lO9, 164 800; balances, S6,50O,
cent: last loan 2l2, closed offered at 2l2.
Prime mercantile paper, 4@6 Sterling ex-
change dull, but firm at 81. 81 for sixty
day bills, and SSs4 for demand. The total
sales Of stocks to-day were 21S,97S shares,
Lackawanna u Western. 1900; Erie, TO-
100; Louisville & Nashville, "a, 500;
Missouri Pacific, $500; Northwest
err noo 300; o. Oregon e:S% p Iransea9ntinetal
Point, 1900; st. Paul, 9, 100; Texas Pacific,
5000; Union Pacific. O. 500; Wabash Pacific.
5000. The stock market to-day was more
active and decidedly stronger than at any time
during the past two weeks and while the
aggregate of the business done was not very
large, the gains at the close of business are
universal and material. The improvement
in the temper of the speculation was some
what of a surprise to the local traders who
hadeXpected nothing but dizziness and stagna-
ton until after the coming holidays but the
impetus came from the other side, where the
frmness displayed by the American securities
and the unusual ease of money in London
have generated a strong speculative senti-
ment on American stocks. The buying
orders from London were very large and
were varlously estimated up to 10000 shares
and the London favorites were the leaders in
the market, and Louisville & Nashville was
specially prominent, though the foreigners
took lines of Reading, Union Pacific, Nor
folk & Western preferred and some others.
The statements of President Hughitt, of
the Northwestern. in regard to the earli-
ness of the crops in the West and
the harmony existing among the members
of the Interstate association, did much to
bring the Western stocks to the front; and
the Southwesterns later became active, and
Richmond & West Point, Missouri Pacific
and Texas Pacific, which have laid almost
dormant for some time. advanced materially
on largely increased business. Among the
specialties there were few marked move
ments, and Pullman again became remarka-
BILE forit strength, though the shipment of
block of stock to the other side recently has
letta very small floating supply on the street
Erie was another stock which was called
into life by the foreign purchases, and the
transactions in the stocks of that company
were larger for to-day than for two
weeks past together. The opening fig
ures were among the active shares from
rs to 9s per cent higher than last evenings
prices, which tempted considerable selling
to realize, while the Chicago spectators and
the local bears resisted the upward tendency
with some effect in the early trading, forcing
prices Off from 1s to la per5cens. The unusu-
ally heavy demand, however, was too much
flor them, and prices began to advance after
the first half hour. Later, dullness set in as
the first demand was satisfied, and the bears
drew off TO see how far it would go; but.
while the fluctuations were small, there was
no weakness anywhere apparent, and in the
afternoon the upward movement was re-
sumed. This frightened the bears into cover
ing to some extent, and several stocks which
have been dull of late sprang into promi-
nence and advanced materially The best
prices were generally reached toward deliy
cry hour, but there was no marked recession
after that time and the market finally closed
active and firm at about the highest figures.
The securities in the unlisted department
wee somewhat neglected and the movements
were confined 10 the smallest fractions, and
Brunswick was shade lower at POS. With
the single exception of Memphis & Charles
ton, which retired per cent the entire
list is higher tonight, and oregon Improve
ment preferred rose Sig. Pullman 2. Louis
vile d Nashville LA, Manitoba LIZ, Burling
ton & Quincy and Texas Pacific
lis each; Lake Shore, Erie pre-
West Point and Union Pacific L per cent
each, and the others fractional amounts.
The impetus given to the speculation wasl
shown most forcibly in the dealings in rail-
road bonds, and the business of the day ex-
tended to very large number of issues and
aggregated, for all issues, $685. 900, of
which Texas PACIFIC DDS contributed
$6SS, 900, the lists, S157. 900, and Richmond
d West Point Trust IS $162, 900. The
market was firm to strong all the way
out, and the active bonds mentioned, with
The improvements extended to all portions
of the list, and the most important gains
were Brooklyn Elevated lists, 2l2 to 11014
Houston & Texas DDS, to 100; Cedar Falls
& Minneapolis lists 2 to 70; Rochester &
Pittsburg consols, 2 to III; Manitoba Is,
2 to 80; Toledo &, Mt. Pleasant IS, to 90,
and Green Bay incomes. 9 to %. Govern.
ment bonds have been dull and firm. State
bonds have been dull and featureless.