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

NEW YORK, Nov. 9.-Clearings. SI36. 31O,-
S27; balances, S5.495.6l2 Money on call
easy; all loans at per cent; closed offered at
per cent. Prime mercantile paper, 512@
zig. Sterling exchange Quiet but steady at
S4.S0la for SiXty-day bills and 81 S4I2 for
demand. The stock market was active and
feverish to-day, but most of the time dis
played a strong tone. which resulted in ir-
regular changes for the day, but enabled
some stocks to score material advances. The
temper of the room was reactionary again
this morning. anu. while the bulls were in
clined to hold off. the bears were still agrees
market generally Is to ~ per cent lower
than it closed last evening, with
the grangers showing the most import
ant losses. London was buyer to limited
extent and Boston purchased more literally,
especially Atchison, in which the influential
Endorsements of the organization plan seem
to be having effect. There were buying ord
ers in the hands of commission houses which
SOON made themselves felt after the open
ing. and while the grangers held back, the
eOalers were firm aud Atchison and Lead
Trust were especially strong, the latter rising
IL per cent in the first hour, while a frac-
tionaI improvement occurred in the regular
list. Among the specalIies Tennessee Coal
was also particularly strong and scored an
extreme rise of l5s per cent, though por-
ton of this was afterward lost when the
bears pressure was resumed. The grangers led
in this reaction. though no particularly weak
Spot WAS u6NelOp6u. anu the dIldCK was soon
suspended when fresh buying for the long
account appeared and material further ad
vance took place all over the list. The
Nor hern Pacifics were most conspicuous in
this advance and the preferred rose ! a per
cent. The bank statement was not issued
until just previous to - o'clock. and the
large loss in reserve which once more sends
the surplus below the legal requirements was
made the occasion of another sharp raid in
the last few minutes which had the effect of
a hn TiOInC ofraC
| The close, however, was firm at something
off from the highest prices. The
final changes are irregular and gen.
orally fractional, but The only important
cent Tennessee Coal a like amount. and
Atchison lls per cent. Railroad bonds were
again fairly active, the sales of all issues ag-
gregaung $3.50, o. for the two hours ses-
sion. while the 81. Louis, Arkansas & Texas
| lists furnished S16l ,00D 10 the total. The
! market was strong in tone, and the Gulf, Col
| orado & Santa Fe DDS were the special feat
| ure Of the day, rising lss per cent to 71ss.
| Sales Of bonds for the week S7,S64, 900,
against S6.S6l,0 900 last week. The Posts
financial article says: Reading continued to
| be held to-day with the same remarkable
| frmness, Notwithstanding the unfavorable
aspect Of its affairs. st. Paul also was firmer
| thSn the other granger stocks and it is
| probable that the large outstanding short
| interest in both is a source of strength in
| theft prices. The net results by fluctuation
was higher prices for nearly ali stocks ex-
| cept the coal stocks. though the only i'm
| portant advances were en- Atchison and
| Louisville d. Nashville. which were respec-
| lively and 2l2 per cent higher at the close
| to-day than week ago: all other advances
| were within about ! per cent. The most
| favorable aspect Of the bank statement
| seems likely to make lower prices for stocks
| in the early part of next week. and yet it is
| remarkable how little effect the rates for call
| loans have on the stock market except for
| the immediate fluctuations of a day or TWO,
caused by the changing temper of the board
room traders. This is shown by the course
of the prices of stocks in the past
five or six weeks. On Oct. /, when money
| on call had for the week been loaning at
| from 10 10 20 per cent. all The Spectators
were confidently predicting a great ad-
vance in stocks as soon as money should be-
| come easy. But now for two weeks money
has been easy. and for the last week call
loans at the stock exchange have been and
b per cent exchange has been gradually de-
| Ginning. exports have been increasing, and
the earring of the railroads have been ex-
| tremely good. and yet with the exceptions If
Louisville, Union Pacific, Atchison, Miehi-
| gan Central Canada Southern and Lake
Shore. all the active stocks are from 2 to &
is points lower than then, Dele
ware. & Hudson 6, Reading q,
| Jersey Central Is, st. Paul S. Rock
Island. 5; Missouri Pacific. g.; Northwest 2;
| DuiuuStO1, WESTERN
Trust, 6, and Sugar Trust, IL. 1t is evident
that the general public are not in the stock
| market and that, if the movement Of prices
is In the HANDS OF the room traders alone, the
course OF prices is pretty sure to disappoinl
| their expectations. Governments dull and
steady. State bonds neglected. The export
Of specie from the port of New York last
week amounted TO S342. 461. of which So.
426 was in gold and $500, OBS in silver. OF
the total exports S9,12 in gold and Sl42.
| 600 in silver went to South America and
$1,000 in gold and SO, 30 in silver went tc
| Europe. The imports of specie last week
amounted to S27', s06. of which S177,.
33l was in gold and Slt1 1875 in silver
| The total sales of stocks to-day were g.. 697
shares, including: Atchison. So. 345: Della
ware, Lackawanna & Western. 1856: Lake
| Shore. l,8 8: Louisville & Nashville % d:
| Missouri Pacific, 1920; Northwestern. 2.65O
New Jersey Central, 1850; Northern Pa
! cific. 2,Sl0: Northern Pacific pfd, 1881;
Oregon Transcontinental, 1,811: Reading
1890: St Paul, 16,o25; Union Pacific
| 4 Q0n