St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-18
FINANCIAL.
New York.

NEW YORK, Nov. 16.-ClearngS to-day,
SI3l. ri. 1856: balances. s.. EOS, l59. For the
week: Clearings. SIS, O56,6i3; balance,
So ;,4O9,7I Money on call easy, with no
loans; closed offered at 3 per cent. Prime
mercantile paper 5I2@I y. Sterling exchange
quiet buL steady al 81 81 for sixty-day bills.
and S485 for dem rand. The stock market
was active to-day, though the intere st in the
trading was confined to a few of the leading
shares. The strength of yesterday was con-
tinued, however. and almost everything
traded in was left at still higher figures than
yesterday. The same tactics were pursued
by the bears, and, unable to stem the improv-
ing tendency, they sought out weak
spots with which to make some
effect upon the rest of the list.
Rock Island and Union Pacific proved to be
the bull cards of the day, and both were act
i've and decidedly strong, the former on the
earnings semi-OficiaIly reported from Chi
cago, and the latter OH the splendid pros
poets Of the company. Among the special
ties Ontario & Western was again conspicu-
Gus for both activity and strength the buy
ing being supposed to come from Vanderbilt
sources. The opening was active and firm,
but the pressure brought upon Cotton Oil
and Western Union by the bears checked the
improving tendency in the list, with the
single exception of Rock Island, which soon
crossed par. Cotton Oil was raided down to
% after the first slight advance.
but Western Union yielded only q
of no avail, and the market became dull.
while the early losses were quickly regained
with fractions in addition. Union Pacific
then came to the front and sold up to $685.,
against 6SI6 last evening The nuyiDg for
both sides of the account became more pro-
nOuneed after the issue of the bank state
ment, which was issued toward IL AS, and
the last few minutes trading were the most
active of the session, while the upward
movement made most progress at that time.
The market closed active and strong at the
highest prices of the day. The is almost in
variably higher tonight, and Tennessee Coal
is up 3l2, Union Pacific ll2, Rock Island 1ss,
bonds were comparatively dull, the
sales for the two hours amounting
was steady to firm, but the only feature was
the Toledo, Ann ArbOr L. Northern Michigan
lists, which scored gain of IL per cent to
1O6s4. The sales Of bonds for the week were
IS, 1886. 0OO. against 81, 954, 600 for last week,
which, however, containeh only five business
days. The Posts Wall street article says:
After a great deal of fiuctuation and uncer-
tainty during several weeks, the stock market
at last begins TO show signs of a rising tide.
The vast increase of traffic in all parts Of the
country is beginning to show its effects on
the earnings OF the railroads. The money
situation has grown easier and is now re-
lieved of any causes for apprehension. except
such as may grow out of exports of gold to
South America and other foreign countries,
though even in that case the balance of
LTAQ6 Is so IdVOTdDl6 10 the UQlLeQ
States that we are likely to import gold in
stead of exporting. In the immediate affairs
of the railroads also feature Of the greatest
importance is the movement for alliances be-
tween great systems to make them practically
one as far as their running arrangements are
concerned. The alliance of the Union Pa
cifc, not only with the Northwestern, but
with the Chicago g. Alton ard the Denver
Texas & Fort Worth is now an established
fact. and sets the example which will neces-
sarily be followed by other roads, until there
will be IN each section of the country an al
lied system that will control all other roads
in the same territory, and though there
will be some railroad wars, yet they
are not likely to be so damaging
to the whole railroad interest as heretofore
Government bonds have been dull and
steady. State bonds have been neglected.
The total sales of stocks to-day were IA
63l shares, including: Atchison, 4 9O5: Del
aware, Lackawanna & Western. 5,0l7: d.
7. d f. W, 4.21l; Erie. 1900; Louisville
& Nashville, 1851; Missouri Pacific, 5.15O:
Northern Pacific, preferred, 2,lOS; Read
ing, 400; Richmond & West Point,
2.4O5: St PAM, 13,205; Union Pacific,
"a, 965; Western Union, 1886. The ex-
ports of specie from the port of New York
last week amounted to 1922, 272. of which
S24 900 was in gold and $299, $40 in silver.
All the gold went to South America, S297,-
S32 silver went to Europe and $40 silver
went to South America. The imports Of
specie last week amounted to S1.8,S32, of
which Sl26, 730 was gold and $50 log silver.