St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-03-12
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FIN NCiAL.
New York.

NEW YORK, March 1.-THE clear
lngs to-day were S12,67S.965; balances
S4,S9O.2SS Money on call was easy at
219@3c per cent; last loan 211s, closed
offered at B. Prime mercantile paper
1906. Sterling exchange dull but
steady at S4.S5s4 for sixty-day bills and
S4.SSs4 for demand.
The total sales of stocks to-day were
31s.663 shares. including: Atchison,
d Western, 1850; Missouri Pacific,
$3.50: Northwestern, 1850: Norfolk Il
Western preferred, 400: Northern
Pacific preferred. 5,961; Oregon Trans,
7,400; Reading, 1920; Richmond 81 w.
p. 5000: ST. Paul. 32.375; Union
Pacific, 1880; Western Union, $685..
This was the most active day of the
year in the stock market, and after the
first break the market continued strong
unil the close and the stocks of the
active list tonight are almost invariably
higher. The early advices from the
other side were not reassuring and the
bears, with the aid of London, Chicago.
Boston and Philadelphia. were enabled
to drive prices down in the early deal
ings, but the cables soon brought better
news from Europe and the scare was re-
ported TO be over both in Paris and in
London with much calmer feeling.
The buying for long account
then began, and the sellers of
the early hour turned buyers,
which soon induced free covering of
shorts and the upward movement which
was inaugurated lasted until the final
close of business. Boston, Philadel-
phia. Chicago and London were large
purchasers. and all the prominent stocks
felt the stimulus, rising over point
from the lowest figures before noon.
Reading and st. Paul were conspicuous
for the pressure brought against them
in the first drive. and there were several
large lots of the former sold. which
were believed to be for the insiders, but
the reaction came. The announce
ment that the roads west of the
Missouri river had perfected
an agreement to maiutain rates
which stated as SO strong that no road
could long remain out, was a marked
factor in the late trading, and the roads
in that section of the country became
prominent for strength at the close.
The news of the day, other than that
from the other side, was not of special
importance, and there was a marked
absence of the usual pessimistic advices
from Chicago. The market opened very
dCGlPc dllu ucClNSufy weak, IuOSt StoChS
being from a to q per cent lower than
On Saturday evening. The Coal stock
grangers and Union Pacific showed
most weakness in the early dealings,
but in none of these were the
first decline supplemented for
more than a fraction. Michigan
Central, however, dropped over point.
The losses in the rest of the list We're
confined to the smallest fractions, and
by the end of the first half hour the de-
cline was checked and prices rapidly re-
covered, most stocks showing gain
over first prices by the end of the hour.
The rise, however, continued without
check until nearly noon, with Lacka-
wanna and Chicago Gas most cOnspicu-
Gus in the rise. Comparative dullness
then 0verspread the list. but prices slow
ly advanced withoutany special feature,
until the close, which was active and
strong at best prices. Pullman scored
net loss of per cent, but the rest of
the active list are almost invariably
higher, and Burlington & Quincy rose
II, Manhattan TX and Atchison / per
cent. Railroad bonds were very quiet,
all the animation impaired to the deal
ings being from the activity in the
Reading issues, and the second incomes
furnished S206.0G0 to the days total Of
sl.351,0 900. The market sympathized
with the weakness in the share list at
first, and while there was better tone
later In the day, most of the improved
changes this evening are in the direc-
ton of lower figures. Government
bonds have been dull and steady. State
bonds have been dull and steady.