St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-01
FINANCIAL.
New York.

NEw YORK, Oct 3l.-Clearings, Sl33, O51.-
OO3; balances, 1851 ,6SS; money on call
tight ranging from 4 TO IL per cent: last
loan at 4, closed offered at 3 per cent.
Prime mercantile paper 5I2@7l2. Sterling
exchange quiet and weak ut SISI for
sixty-day bills. and g. 50 for demand. The
stock market to-day was quiet for the regular
list, but active for the trusts. and while the
former presented firm front, decided weak
ness prevailed among the latter. Cotton Oil
was the great feature of the day. and while
the traders were the principal sellers early i'll
the day, well known firm began 10 sell and
WAS followed by Others which gave the room
the impression that some large interest was
unloading. and there was a rush 10 sell from
ali portions OF the room. ana the market was
taken away from would-be sellers before
their offers could be heard. Considerable
excitement attended the dealings in the
stock, and for time there was little
Tsee traded in, while various rumors
spIang into existence, chief among which
was one that the~annual report to be issued
soon would show aDOut q million less
earned during the past year than generally
expected. Others related TO trouble in the
q large interest, and the forcing of large
block of the stock upon the market tight
money, but while many of these were contra
dicted others were left without an answer.
The stock opened at Ala, against 4ll2 last
evening, and was forced off by the sales of
the traders to 10. from which it had slight
recovery. The real selling of the day then
began and its price was soon dropped to
1856, but there was only momentary halt
and later it dropped to 1854, the lowest of
the year. The denials of the rumors made
themselves felt at this point. but the selling
seemed TO have exhausted itself and ma
terial rally occurred, bringing ii up to 3SA,
while the close was made at 81. Of the other
trusts Lead was up and comparatively well
held, but Sugar weakened and declined to
Tll2, rallying fractionally at the close.
Among the listed stocks there was
no movement of importance except
the sharp advance Of nearly 4 per cent in
Tennessee Coal in the forenoon and smaller
gains in Denver, Texas and Fort Worth and
decline IN Lake Erie 4 Western of Big. The
trading in the regular list was confined al
most entirely to the traders, and the fuctua-
tons, with the few exceptions noted, were
for the smallest fractions and while there
was general upward tendency exhibited it
was held III check by the weakness in the
trusts. The close was generally dull but
firm at close TO the opening prices. For the
first time in many months the transactions
in listed stocks fell below those in the unlist-
ed department, and while the former aggre-
gated only lao, 10S shares, the latter reached
144, 3U4. of which Cotton Oil furnished l IA
Cos. of the stocks of the regular list only
four or five reached five figures Advances
are in majority this evening, but the final
gain Of 3 per cent in Tennessee Coal is the
only one OF importance, while Cotton Oil is
down 3l3 and Sugar 15s. The railroad bond
market was quiet to dull to-day, the sales of
all issues reaching only Sl.072, 900, of which
The Gulf, Colorado d Santa Fe 6s furnished
Sl42.OO The market was without general
feature. The Posts financial article saws:
1.-THE movements of the prices of the various
groups Of stocks in the last week
are worth considering as clear index Of the
market today. 1t Is noticeable fact that
notwithstanding ali the rumOrg and tele-
graphic reports from Chicago intended, or at
least expected confluence the prices of the
granger stocks, they are almost unchanged,
and at II o'clock to-day Northwestern, Bur.
Hngton. Rock Island. St. Paul and Atchison
were none OF them over q away from their
prices at 2 O'Clock Thursday, the Oath, but
Missouri Pacific, Union Pacific, Northern
Pacific preferred, Lake Shore, Canada
Southern were from 1Ie to 13g higher, Mich.
gan Central ala higher and Denver Texas &
Fort Worth 3ls higher. On the other hand
Jsrsey Central, Lackawanna and Delaware &
Hudson were all from y to 1 per cent lower,
and Reading 16s lower. The circumstances
which are causing the different ehdencies Of
prices of the different groups are entirely
separate and distinct from the quotations of
the money market which is no longer an I'M
portant factor In the stock market. The ter
ritory west of Chicago it is apparent that
new experiment is about to be tried in the
practical consolidation Of the operation of
heretofore antagonistic lines, and In view of
this speculation in the granger stocks waits
for the results. The Vanderbilt Eastern
lines, however, will unquestionably be
benefited, and as they are all
doing remarkably well ANYHOW
Europe invested in them. Those who pro.
fess 10 know something OF the character OF