St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-03-19
FINANCIAL.
New York.

NEW YORK, March 1S.-Ciearings,
ST, 159. 952: balances, S5.212.070. Money
on call easy at 2G211a per cent; last loan,
2 per cent; closed offered at 2 per cent.
Prime mercantile paper, 414@64. Ster-
ling exchange dull but steady at 1852
for sixty-day bills and $4.SSa4 for de-
mand. The total sales of stocks to-day
were 1896 shares, including: Atchi-
son, $3.50 Delaware, Lackawanna IL
Western, 14,100; Erie, $3.50; Lake Shore.
9,195; Louisville 81 Nashville, 1926;
Missouri Pacific, 24,9l5; Northwestern,
1880: Northern Pacific preferred, ALSO;
Reading. 3l,Sl0; Richmond & West
Point. 6,425; st. Paul. 20,445; Tex
as Pacific. 7,4l5; Union Pacific.
14,063; Western Union, S,O70.
The stock market to-day after
strong opening, was weak and active
throughout the session, and, under lead
OF the. grangers and Southwesterns,
everything is materially lower than on
upon the gravity of the situation
abroad, ard the further troubles over
rates in the West, and although there
was confident feeling at the opening.
the selling soon began, and the de-
clIneS, which were then inaugurated,
ceased only with the close of business.
The early rumors from Paris and Lon
don stated that the Societe DIES Metaux
had stopped payment and that the
Compton d'Escompte had been
placed in the hands of the
receiver, and that copper had had
a marked fall since Satur-
denial, but were substantially corrob-
grated, but the decline had made much
Roadway, and while it was later stated
that the Compton d'Escompte was
meeting all its obligations, the feeling
was very respondent. Stories of cut
ting of rates by the Rock Island were
the principal elements of discord in the
dispatches from the West, but this was
supplemented by free selling of all the
Western stocks, especially by Chicago.
and an operator from that ceuter was
openly giving out selling orders. The
estimated earnings for the second
but one exceptions; but the
good news, of whatever sort, had
no effect whatever in the discouraged
state of mind prevalent in the room.
The grangers were the chief feature,
and only st. Paul was held up to any
extent, while the losses among the
others ranged 9 to per cent, with
Atchison, Burlington and Rock Island
most prominent. Missouri Pacific be-
came the leader of the downward move
ment in the afternoon, however, and
had soon caught up with the others.
New England and Pacific Mail were the
which showed any special weakness.
but the decline reached all portions of
the list and no strength developed any
where in the list. The specialties
and low priced shares were COM
paratively quiet, although Big Four.
Chicago Gas and Short Line were weak.
The opening was made at advances ex-
tending to IS per cent. but the grangers
felt the pressure Immediately, and
Rock Island was the first to give way,
followed before noon by Burlington Il
Quincy and Texas Pacific. There were
a few slight rallies in the forenoon, but
amounted to nothing. Missouri Pacific
became the leader after IL o'clock, but
AtchisOn followed, and Oh very large
business the losses in those stocks be-
came unusually prominent. There was
another halt toward delivery hour,
but in the last hour the
decline was resumed with all
its force and the market closed active
and very weak at the lowest prices of
the day. Everything on the list is
lower, but the most important losses
were AtCHIIlSOD, 0N MlSSouIl fdclIlc,
35s; Burlington e. Quincy, 35s: Rock
Island, 25s; Northwestern, ~; New
England, 15s; Texas Pacific and Pacific
Mail. II each, and Short Line and Chi
cago Gas, per cent, with others frac-
tional amounts. Railroad bonds were
| somewhat more active and showed more
feature than usual last week, and while
the market was heavy, it showed no
| marked movements like those in shares.
| The sales were only 81, 49,, 200, but to
that amount Texas Pacific seconds
contributed $4,000, the firsts
| 100000 and the Denver & Rio Grand
Western assented bonds S1O5,O0O. AL
most everything is lower, but there was
| some irregularity, and a few marked adj
vances were recorded. The declines in
clude Texas Pacific firsts, 2 at sc, and
| South Carolina firSts at SO. The i'm
| portant advances were Denver & Rio
| Grande fives, to 80; Louisville & Nash
vile trust skies, l to 1929; Chatta-
noOga firstS, N to 1873; Duluth & Man.
itoba firsts, IA to 1903; Western Pacific
SKIES. "a to lis, and others smaller
| amounts. Government bonds and state
bonds have been dull and steady.
r. M. NEWPORT e. SON