St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-10-11
Now York.


New YORK, Oct lO-Clearings, Sl43, $685.
$40: balances. S5.527.235. Money on call
easy, ranging from 5l2 to 6; last loan u;
closed offered at 6 per cent. Prime, mer-
camille paper. Gas. Sterling exchange
quiet but firm at S4.52s4 fer siXty-day
provenent in the condition OF the money
market made further progress to-day, ana
the restoration of passenger rates TO Denver,
with the continued encouraging trafhc re-
turns gave The stock market oulllsh tone at
the opening of business to-day. The huctua-
lions however, are still controlled 10 large
extent by the professionals, who are at pres
ent on the short side of the account, ana the
history of the days transactions is
chiefly comprised in the efforts of the
bears TO break prices by determined attacks
uDon n few stocks Atchison and New En-
gland were more conspicuous among tneSe,
and pressure TO sell the former found little
demand and absolutely no support whatever
a rumor that the reorganization plan was
meeting with unexpected opposltlon was
circulated but could not be confirmed There
were points out to sell New England before
the opening and if was said that q large
block of the stock was to be sold. The two
stocks mentioned furnished nearly half OF
the total business done, and they oYersnad-
owed the entire list. The bears gave consld-
cradle attention to Cotton Oil also, ana re-
ports of serious disturbance IN the trust
were out, though it was believed that the
selling was for the purpose OF breaking the
price TO cover shorts upon. Sugar weakened
in sympathy with Cotton Oil, and Missouri
Pacific in sympathy with Atchlson,. though
the impression upon neither was OF special
importance. The general list were affected
to limited extent by the weakness in the
leaders, but the fluctuations. as wei
as the business done, was confined
within narrow limits, and the declines
established outside of the stocks
mentioned and few specialties were not
worthy of mention. The strong feature OF
the day was the Northern Pacific group OF
stocks which were advanced on what ap-
peared like inside buying, and which was ac-
cOmpanied by story that Mr. Willard had
obtained the necessary proportion OF the
stock to carry ont his scheme. oregon
Transcontinental was specially strong and
shot up . per cent from its lowest figure, but
rea ated and lost good proportion of the I'M
provemcnt The Northern PacihcS were more
quiet i'll their movements. Louisville IL
Nashville was strong, but the tendency TO
advance was checked by the persistent sell
ing of the leading shares, and St. Paul sold
off slightly on the decrease of the earnings
for the first week in October. Manhattan
was strong on report OF decision IN favor
of the company, and Chattanooga and san
Francisco moved up. The Chesapeake d
Ohio stocks. and the Wisconsin Central were
also conspicuous among the lOw-priced
shares for strength. The opening was made
at advances extending to s5 per cent, and
after further Improvement the whole market
noon while Atchison reached the lowest
price in its history and New England Its
lowest price since June. The squirt III the
Northern pacifics helped TO rally the list in
the afternoon. but the improvement was only
partial and did not hold to the end. The
market closed fairly active and heavy at
something under the opening figures. The
majority of stocks are materially lower TO-
night, and Cotton Oil is down 2ls; Sugar,
15s; New England, liz: Atchison. 1ss: Mis-
sour Pacific, lis, and Rock Island l per
cent while oregon Transcontinental is up
15s and Manhattan l per cent. Railroad
bonds showed little more animation to-day,
though the increased business was entirely
due to the animation in the Chesapeake &
Ohio 5S, which furnished $4,000 out of
the total days business of $4,000. The
tone of the dealings was much better
and the market even showed some
strength in spots during the latter portion Of
the day. There were few important
change S, and among the advances were St.
Paul, La Crosse rs, l TO ia; Denver d Rio
Mackinac & Marquette land grants, IA to
S7A; Iowa Central lists, LIS to e67s; North
ern Pacific DDS, to Ill, and Union Pacific
sinking funds, 1 to 115A. The declines in:
Colorado & Santa Fe lists, 1 at 101; Lincoln
& Colorado lists Ia at 1o1, and Utah South
ern extension rs, l at 113.
The Post in its financial article says: The
advance in prices from about noon on Tues
day to near the close yesterday and again
this forenoon was caused chiefly by the Gov
ering of shorts which were put out in the
raid made upon the granger stocks on Mon
day and Tuesday. This recovery brought
the general range of prices back nearly
| 20 where IL was on Monday morning,
| but not quite. The whole movement
of the market from Monday morning to noon
| to-day indicates that the trading has been
| almost entirely by professional spectators
| who take one side OF the market for few
| days and then change over to the other. But
aside from this see-saw movement there are
| some stocks that have stronger tendency in
one direction or another, Union Pacific,
| Louisville & Nashville, Western Union, Man.
haitian, Lake Shore, Northern Pacific pre-
1 ferred. and Oregon Tranlcontinentsl were