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

NEW York, Oct 9-Clearings, s143, 49,
1877; balances, SO. ga, 800. Money on call
somewhat easier, ranging from to z; last
loan 5; closed offered at 5 per cent. Prime
quiet but firlner at S4s2ls for sixuy-day
bills, and Si.s6I2 for demand. The stock
market to-day was much stronger in tone
than for any day during the past two weeks,
and material advances were scored in all the
active stocks. The feature of the market was
the buying by London houses, though these
purchases lid not have much effect after the
noon hour. The strength of our market
yesterday WAS reflected on higher
prices from London this morning and
the most conspicuous bidders for
stocks, and succeeded in opening the
market at from Is to IS per cent higher fig
ures than 1t close last evening. The impetus
of the foreign purchases was seen most in
Louisville & Nashville and that stock rose
1 per cent, bnt the resistance offered by the
bears was so strong that after slight up
ward movement in the general list prices
were forced off to from a to IA per cent be-
low the opening figures. Sugar reineries
are most prominent In the decline. The de-
cline, however. met with such determined
resistance that the pressure was removed be-
fore noon, and Louisville & Nashville again
took the lead, followed by Western Union.
which was very favorably Influenced by
the publication of the annual report. The
able, and as the day wore along
the upward movement became more pro.
nounced, and Sugar trust became once more
one of the leading strong stocks. Among the
specialties, G. c. c. g. st. l.. was especially
prominent in the upward movement becom-
ing active on buying which looked like that
of insiders, accompanied by rumors of large
gains in the earnings. Money eased off to
below the legal rate later in the day, and the
early sellers became alarmed and took in
some o. their short sales, which again stimu-
lated prices, and the upward movement
made material progress in all portions of the
list. Reports that rates would be advanced
10 and from Missouri river points helped the
grangerS. There was some realizing on the
profits accrued during the day in the last
hour, but the market recovered its tone to-
at OF near the best prices of the day.
The declines tonight are very few in
number and a loss of lis per cent in San
Francisco preferred was the only one of i'm
portance, while c., c.. c. & ST. Louis is up =
Louisville & Nashville and cotton oil 16sc
each; sugar. Iss; Lake Erie Il Western pre-
ferred and Oregon Transcontinentsl IA
each: and Commercial Cable, Union Pacific
and Western Union per cent each. Rail-
road bonds were again dull, but unlike
stocks were weak almost throughout the day,
Tallying only in the last hour. The sales of
all issues aggregated only S249,U00 Gov
ernments dun spd steady. State bonds ell
tirely neglected. The total sales of stocks to-
day were 246 ego shares, including Atchison,
33. Go; Delaware. Lackawanna & Western,
Is, 400; Erie. 3, 200: Louisville & Nashville,
ALTO; Missouri Pacific, 1890; North
western. 4,165; Northern Pacific preferred,
6,SlS; Oregon Transcontinental. All;
Reading, 10S0O; st. Paul, "a. 400; Union
Pacific, 6,955: Western Union, $500.