St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-10-12
FINANCIAL.
New York.

NEW YORK, Oct 11.-Clearings, S12S,575,-
313; balances, Sc, las, 62e. Money on call
strong, ranging from SIG to 10: last loan
g; closed offered at per cent. Prime mer-
camille paper. 6@s. Sterling exchange
quiet. but strong at S4.S3 for sixIy-day bills,
and S1.S7 for demand. The stock market
continued to show moderate volume OF
business to day, but the market was COM
prised in about q half dozen stocks, which
furnished about three-fOurths of the business
and all the important fluctuations. The re-
maindeF of the list was quiet and teVer1sh
within narrow limits as usual of late. The
operators for a rise were doing nothing ap-
parently. and the bears and professionals
had the making of quotations all to
themselves. and their efforts were directed
to the few leading stocks in which marked
declines were established, but upon the with
dTaWal of the pressure material rally
quickly ensued. The pressure was directed
principally against Missouri Pacific, New
England and Sugar refineries, while Atehison
was bought freely under cover of the de-
DreSsiou in the other stocks. To further the
decline in Missouri Pacific, which seemed to
bear the brunt of the attack, a story was put
out that the company intended to issue about
SIS, O00, 900 of bonds for extensions and other
improvements. Mr.. Gould was absent from
the city. which fact may have been taken
into consideration when the story was put
forth, and no denial of the rumor was
had until late in the day, when the
mischief had been done. New Eng
land was attacked with renewal
OF the old story of a further issue of pre-
ferred stock aud met with an official denial.
Sugar refineres were hurt by the disposition
10 anticipate an UnfavOrablee decision in the
case of the North River refinery, and a ru-
NOR that il had been made, broke the stock
3 per cent while denial brought the price
I'D about the level of the opening price. A
priye was made at st. Paul. with only frac-
tional effect. and marked weakness was de-
veloped IN Oregon Transcontinental on ru-
mors that suit would be brought by the
stockholders against Mr.. Willard to compel
an accounting. Other stocks were painfully
weak and Chicago, Columbus, Cincinnati &
ST. Louis and Louisville & Nashville were
conspicuous al times. Considerable pressure
was brought against Cotton Oil in the early
dealings but the resistance was too
strong and a rapid rally followed, though
the whole of the improvement was not re-
tanned at the close Rock Island was notably
strong and recovered handsomely from the
depression of yesterday again crossing par,
although IL also was unable TO mold the adj
vantage. Sugar opened at sale against S1Ia
last evening. and declined to 81 and rallied
to "a. and closed at S2Ss. Missouri Pacific
opened down ls al 71l2 and was forced off to
6S84 recovered TO 70I2 but closed at 6934.
New England was Ssc lower at the opening
AT IS. drOpDed to 43s4 and rallied to 45I2,
closing at %. AtchiSon was strong from the
outset, and rose from 26l2 to 2SI3 and closed
at 2Sls. The list is almost invariably lower
IL
AtchisOn, with an advance of lis per cent,
while sugar is off 2l2, Missouri Pacific rs.
New England and Transcontinental lSs
each, Louisville & Nashville and Big
Four 1 per cent each. Railroad bonds
were less active to-day, the sales reaching
only $1,000 and the trading was entirely
devoid of features of any sort. The general
tone of the market was again heavy, and
most of the few important changes tonight
are in the direction Of lower figures. The
Posts financial article says: The lower
prices for all stocks this forenoon in the en-
tire absence of any uufavorable news or dev-
elopments in connection with either rail-
road or monetary affairs demonstrates that
as mentioned yesterday, the recovery of
prices from noon on Tuesday to yesterday
ering of shorts, and this temporary de-
mand having been filed prices sag,
and the professional traders go to
work again hammering prices and
creating new short interest This forenoon
the selling was of Missouri Pacific Atchison
and New England, which together furnished
81, 900 shares, or 55 per cent Of the total of
IL 500 shares OF listed stocks sold on the
new stock exchange up TO IL O'Clock. Mis-
souri, Pacific was the most active, and with
out any ostensible reason, except the
manipulation, declined from 7ll1 at the
opening to 6ss4 by 1890 O'Clock on sales of
about 81, 900 shares up to that time. Not
Withstanding the official denial of yester-
days rumors about further issue of pre-
ferred stock, New England declined from
sales Of $4,000 shares in that time. I'M
portant orders were uncovered in both
these stocks after the decline Of I
point and this precipitated the fur
her decline. Atchison, which was the
next most active stock, was comparatively
firm. owing, as was believed, to considerable
buying on Boston account, and, notwith-
standing the dealings in II to the LARGE