St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-10-28
FINANCIAL.
New York.

NEW YORK, Oct 26-Money on call easy,
ranging from 10 6; last loan at 4. closed
offered at per cent. Prime mercantile
paper, 5iz@7la. Sterling exchange quieta aud
steady at 81. ~1I2 for siXty-day bills. and
S4.S5l2 for demand. The total sales of stocks
to-day were ia, $40 shares, including: Atch-
ison, $3.50; Delaware. Lackawana d West
ern, 1880; Denver. Texas q Fort Worth,
Michigan Central, $500; Missouri Pacific,
5, 100; Northwestern, 10, $50: Northern Pa
cifc pfd, 6,513; Richmond West
Point, 1905; 81. Paul. ID, l4O; Texas
Pacific, 5000; Union Pacific, 1865.
The stock market to day. while compare
eral feature of interest," and, except for one
or two stocks, shows but slight changes as
the result OF the days trading. The activity
was confined TO spots. and, while the general
temper of the room was bulllsh, the traders
were sellers of the market. and such advances
as were made were afterwards neutralized.
ST. Paul and Union Pacific were most active.
but their fluctuations, like those Of all of the
active stocks, were fractional only.
and the only features of the day
were Michigan Central, which, after
long period of stagnation, suddenly
sprang into activity and scored marked ad-
vance, and Denver. Texas d Fort Worth,
which continued its remarkable upward
mo ement. The bullish feeling of yesterday
lasted over ill this morning. First prices
were generally from Il TO IS per cent higher
than last evenings figures. though Oregon
TranscontInental was an exception, helng
down l2Q33l2 Sugar was weak and the
further advances in the regular list were con-
fined to small fractions, and the upward
movement soon came TO an end, after which
prices sagged away slowly. though Michigan
Central rose from 93l5 70 94A; Den
YER Texas aosS a T9rt re Worth pd from
from 2O14 TO q. There we're some other
strong Spots in the list 1t their movements
were small and unimportant while Sugar
dropped about ! II per cdnI The bank state
ment seemec to have no effect and the mar
ket finally closed quiet and somewhat heavy
ct about the lowest prices in most stocks.
Michigan Central is up ~ and Denver, Texas
L. Ft Worth lis, but the other changes are
all for Insignificant amounts. Railroad
bonds were comparatively active and the
sales for the two hours reached $685., 600,
out of which Fl. Worth d Denver firsts con-
tributed S1l2, 900 and the Texas Pacific sec
onds 1900. The general tone of the
dealings was no more than firm, though sew
eral issues showed marked strength. Sales
of bonds for the week ST., SS7 900 against
81 .357. 900 last week. The Post financial ar
ticle says: The lower rates for bankers bal.
ances al the stock exchange this week have
unqucstlonably had much to do with the
change in the temper of the stock market
above referred TO, but they have not by any
means been the chief cause. The new agree
ment made by the Northwestern and the
Union Pacific may be. as 1t is claimed in
some quarters, only continuation
listed for the last twelve months,
but the public have been ready to
see that in the idea of the railroads granting
to each other the rights to run trains over
their respective lines upon the payment of
stipulated trackage dues. there is the posi-
bility of the solution Of the chief railroad
troubles of the West as il would not only
maintain rates, but would settle the through
freight question and stop the superfiuous
railroad building. In the early part OF the
week. the coal stocks were heavy owing TO
the publication of the anthracite coal stats
coal producers would probably be from
$I5,t 0O,UOu to Sl6,U0U,Ihi0 less in 1889
than in 1888 The trusts stocks were
being heavily sold by people who found diff
ficulty in currying them, because the banks
would not accept them as collaterals, and
the grangerS were being sold by Chicago
SPECTATORS in view of the possibilities of a
further hostile legislation by the Western
legislatures this winter. But while none of
these conditions which caused the decline in
the first TWO days of the week have been at
all changed, the market has reacted under
| the change of sentiment caused by the
Union PrcIfc-NorthWestern combination.
1t is noticeable that Fort Worth
| and Denver & Oregon Short line are both up
| 4 points this week; Uniolf-Pacific, =; North
western, Rock Island, Omoha preferyed, and
some other of the grangeIs from to per
| cent. The exports of specie from the port OF
New York last week amounted 10 S029,3SS,
| of which 81 $500 was in gold, aud SlU7,
| 4SS in silver All the silver ana $4,000 in
| gold went TO Europe. and S,U00 in gold 20
| South America. The imports of specie
| for the week amounted to $50. 129, of which
| S22, 500 was in gold, and $50. 26 in silver.
| Government bonds are dull but firm. State
| bonds entirely neglected.