St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-10-31
FINANCIAL.
New York.

NEW YORK, Oct. 3O.-Clearings, Sis, 271.-
6l3; balances 81, 374,433; money on call
tight, ranging from 3 TO 10 per cent; last
loan at g, closed offered at per cent.
Prime mercantile paper, 5L207l2. Sterling
exchange quiet, but steady at S4S1A for
sixty-day bills and 81 S5 for demand. The
stock market was again irregular, feverlsh
and unsettled to-day, and, as usual OF late,
all the interest in the dealings was coneen-
trated in two or three stocks while the re-
mRinder were dull and traded in within the
narToWeSt limits. There was no news of a
character to affect values, but TuInOrs were
plentiful and the market got its stimulus in
the forenoon from a story that Union Pa
cific had purchased controlling interest in
the Chicago & Alton. which would
be taken into the new alliance, ana so re-
moved from the way as disturber OF the
prevailing harmony. This story, with the aid
of some London buying of Union Pacific and
a few other favorites, sent Union Pacific up
over l per cent, and it crossed 6S for the
first time in many months. The general list
felt the influence, and except for Cotton Oil,
everything made material Improvement.
Later, however, this story was denied from
Chicago. and thereafter contradictory tele-
grams were received throughout the day
which checked the advancing tendency. The
bears then returned to the attack with vigor
and aided by the advance in money to 10 per
cent. they brought about material declines
in the coalers, and wiped out about all
of the forenoon's improvement in the
general list. ST. Paul and Burlington both
reported very fiatterlng earnings, but this
seemed TO have little effect upon them or
their kindred shares. The one specially
strong spot in the market was Sugar Refiner-
les which almost steadily appreciated when
the regular list was weak, and finally scored
q handsome advance. closing at its best
figure. The Vanderbilts were strong. ana
Lake Shore crossed 10Y, but as a rule the
market was quiet and featureless in the mar
rOwest limits. The opening was strong at
advances which extended to ss per cent. and.
led by Union Pacific and Sugar, the list rose
rose from " to lIs per cent further during
the first hours business. Cotton Oil was
weak, and was soon joined by the
coalers, which had the effect Of
creating q partial reaction in the rest Of the
list which, however, was generally. recoy-
cred before noon. A general reaction fol-
lowed and prices were moved up ana down
within narrow limits for the remainder Of
the afternoon, but in the last hour Sugar de-
veloped the most pronounced strength,
which helped the regular list up a trifle, and
the market finally closed quiet and firm gen.
orally at a shade better than last nights
prices. Sugar scored an advance Of 33S per
cent. but the only other material change was
decline of per cent in jersey Central.
The sales of railroad bonds were $3.50, 900
to-day, and though the Fort Worth x Den
yer frSts, the San Antonio & Arkansas Pass
skies Of 1886 and The Kansas & Texas sevens
were most active, their transactions were not
specially large. The market was generally
steady and the final changes show few i'm
portant fluctuations. The Posts financial
article SAYS: All the forenoon the market
was agitated with repeated assertions and
denials by telegraph from Chicago Of the
alleged purchase OF control OF the Chicago
bringing II into harmonious operation with
| the Union Pici6c and Northwestern and also
repeated assertions and denials by telegraph
from Chicago that II the alliance were per-
sHn ntNrlS Tel nd s,n
| St Paul would Immediately withdraw from
| the presidents association and declare war
| against the Union Pacific, Northwestern and
| Alton. So far as these dispatches had auy