St. Paul daily globe., 1889-02-20
FINANCIAL.
New York.

NEW YORK. Feb. I9.-Clearings to-day,
$147, ,470, ,24U; balances. $5,7lO,709. Money
on call easy at IL to 2 per cent; last
loan, "; closed offered at 2. Prime
mercantile paper, 406. Sterling ex-
change strong and active, with actual
business at $4.S64 for sixty.day bills
and S4.8SI for demand. The stock mar
ket to-day was waiting one, all eyes
being turned to the Chicago conference,
and this gave the bears for the time be-
ing the opportunity to make prices, al
though. while the list was dull and de-
clining almost throughout the day, the
movements except in few stocks were
entirely insignificant. London was q
seller again this morning, and Chicago
parted with some of the Changers,
which. owever, held up remarkably.
There were some unfavorable circum-
stances which helped the decline along.
such as reports that the states in the
West would all finally ad0pr the Iowa
schedule, the unfavOrable impression
made by the report of the Atchison is
sued yesterday and the weakness of the
Oregon stocks, which became the Spe-
cial object of the attacks of the bears.
AtchiSon was sold freely for Boston ac-
count in the early trading, and arrested
the improving tendency of the general
list at that time, and, while consider
able pressure was brought against the
Gran gers. the strength displayed by
those shares soon induced the bears to
turn. their attention in other directions,
and. finding weak spot in the Oregon
shares, all of them were rapidly market
off. This affected the general list to
some extent, and Union Pacific readily
y elded under pressure to sell because
of the discouraging news from Wash
ington. The general anxiety over
the result of the deliberations
at Chicago, with the reported alb
sence of the representative of the
Illinois Central and the small
progress made had a deterrent upon
buying. First prices under the manip-
ulation of the London market was gen
orally slightly lower than last evenings
figures, but strong tone was developed
in the first few minutes, which, how
ever, disappeared in sympathy with the
weakness in AtchiSun. Manhattan was
a strong feature at first, and became
very weak. The Oregon shares, espe-
cialIy Improvement, was extremely
weak, and rapidly declined, on cOmpar-
atively small sales. and before noon had
dragged the general list down to below
first prices. Union Pacific and Rich
mond d West Point join d the weak
stocks after noon; and. OH an Increased
business, each were carried down still
further. the lowest prices being gener-
ally reached toward 2 p. H.. when a
tirmer tone was shown, although no re-
covery was made. The market closed
dull and heavy at about the lowest
prices. The list is almost invar-
iably lower this evening, and while
losses are generally confined to frac-
tions, Oregon Improvement is down
35s: Navigation, ~; Atchison, l3s;
Union Pacific and Oregon Short Line.
II; Burlington q Quincy, and c.. G.,
G. Il |. per cent each. Railroad bonds
were dull and firm to strong during the
forenoon, but yielded later in the day,
and some marked losses were sus-
tanned. The sales of all issues aggre-
Midland generals furnished $143.GUO,
and the international 2ds Sl42,000
Texas Pacific Dds were active Oh sales
OF $4,000. The advances COMPRISE
Northwestern sinking fund 6s, 3 to 122;
Denver Il Rio Grande Western lists, AZ
to 9515; Ohio, Indiana IL Western
lists, Q to ~; San Francisco gen
eral 6s, 1 to III. The declines
include st. Paul terminals l. at
1Ol5; Northwestern sinking funds
1140lO9M: Louisville, New Albany IL
Chicago consols, 1159992s; Kansas Pa
citic cOnsols. l at ia. Government
bonds have been dull. but firm. State
bonds have been dull and steady. The
total sales of stocks to-day were 2l6,-
AL shares, including AtchisOn. 1880;
Delaware, Lackawanna IL Western,
10000; Erie, 1O.13O; Louisville Il Nash
vile, 9.12l; Northwestern, S,173; North
ern Pacific preferred $500; Oregon
Transcontinental, $3.50; Reading, ~
720; Richmond q West Point. 4,065;
st. Paul, 1910; Union Pacific. Is, 100.