St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-12-14
FINANCIAL.
New York.

New YORK, Dec l3.-Clearings. S1I9.653:-
069; balances S6,493,3l1. Money on can
easy, ranging from D to : per cent; last loan,
; per cent: closed offered at 4 per cent.
Prime mercantile paper. 6D7Ia per cent.
Sterling exchange quiet and steady al III o"i2
for sixty-day bills and 81 .Sl Tor demand
The stock market continues 10 snow stedu-
lily decreasing volume OF business anu TO-
days record, especially for the stocks Oh tne
regular list, was smaller than anything seen
in months. The unlisted department. was
more active in the aggregate, but the increase
was all in sugar refnerles when was moTe
heavily traded in than on any day ms week
with the exception of Tuesday. The STOCK
seemed TO touch bottom to-day at 55l2, when
large buying orders came in aud a substantial
rally of over per cent was made, though al OF
the improvement was not retained NJ tue
close. The buying seemed for the most part
10 be covering. but the heavy orders eAee SS
for Boston account and large blocks OF nor
rowed stock were returned to-day, indicating
that the covering yesterday was material.
The outside buying stimulated investments
by the room traders on the long slde. anu lhe
reaction was due more 10 realizing sales oy
this element than 10 ANYTHING else chicago
Gas was depressed NJ first on reports that
plan for the readiustment or the company
affairs had fallen through. but complete
rally occurr q later in the day. report oI
railroad for the year ending June
80 WAS published by one OF the news
agencies. a which il was claimed was OF
fetal showing that the company nad 1alleu
to earn even the fixed charges for that Tune
hy something less than 81 O,OOO. Inc pup
lication did have some little influence upon
the stock hut the extreme fuctuatlon Tor Inc
day was only "a per cent, and 1t closed only
Il per cent lower than last evening. me
only activity in the regular list was IN Lack
awanna. which was stronger. but moved up
only a fraction. A report that the zeal III
Tennessee Coal was over for the present re-
sui ed in some selling of that stock, ana IL
yielded 2 Ter cent but recovered l. Inc
most important movement, however, was
in Menu his L. Charleston, which Spurteo
ND D per cent on the decision of the supreme
court of Alabama prohibiting the East Ten
nesSee from voting the majority Of the Mem
phiS 4 Charleston stock which 1t holds, ana
thus throwing the control of the company TO
the minority stockholders. There was re-
newed selling of the Chicago d East Illinois
stocks, especially by Boston parties. ana the
common dropped nearly J per cent, most OF
which was recovered, bnt the preferred
scored a drop of 614 per cent. only TWO OF
which was regained. The general list was
quite to dull throughout. and after STEADY
opening prices advanced slightly. but me
gains were afterward generally lost and the
market closed dull and steady at close TO
opening figures. Railroad bonds were dull,
and presented no future OF interest,
while the tone of the dealings
was generally steady. A few marked
declines were scored among the
inactive issues but they are few in number:
Government bonds have been dull and
steady. Stale bonds have been dull and firm.
The total sales of stocks to-day were ls2.S6l
shares. including: Delaware. Lackawanna
Il Western. =. 40: Missouri Pacific, T9tlo !;
Northern Pacific preferred, $3.50; Reading,
$500; st. Paul, $685..