St. Paul daily globe., 1889-08-23
WOODF0RD & HOLBROOK,
GRAIN G3MMLsSl9N G2yMH s M2N
MINNEAPOLIS, MINI.
FINANCIAL.
New York.

NEW YORK, Aug. 22.-Clearings, SiO7, ,475,-
621; balances, S5,649,794 Money on call
easy at 2(06 per cent; last loan q: closed
offered at 2. Prime mercantile paper, 4s407.
Sterling exchange quiet but steady at 81. .S44
for sixty day bills, and 81 S7A for demand.
The stock market was more active 10 day
than at any time for week, and at the same
time displayed a decided weak tone, which
resulted III material loss of all of the list,
hardly any of the active stocks being less
than l per cent lower than last evening.
The influence which had bearing upon the
market this morning were all of an unfavor-
able nature, such as the roll of heavy fail
ures, further cutting of rates in the West and
Northwest, the utterances of Chairman
Walker and Judge Cooley. the former ex-
pressing the situation as deplorable in the
Northwest and the general fear of tight
money. The traders made the most of the
opportunity, and with the sales inaugurated
vigorous attack upon the list, the
grangerS and coal stocks being the princi-
pal sufferers and the opening prices were
from "A to 7s per cent less than last
nights figures. The market under the press
ure to sell, which included, without doubt,
considerable long stock, yielded rapidly in
the early trading and Jersey Central and c.
C. C. q st. l.. led the decline, which died
away toward the end of the first hour, when
dullness followed and slight recoveries were
made. After noon the pressure was resumed
with force and all the grangers, Missouri Pa
cific, Union Pacific, Cotton Oil and Sugar be-
came prominent for the weakness displayed
but later they were all surpassed by the Chi
cago & East Illinois stocks and Chesapeake
d Ohio first preferred which lost about 3
per cent each. Lake Erie d Western pre-
ferred, Lackawanna & Sugar Trust and aft
erWards, st. Paul and Missouri Pacific felt the
decline, which reached its limits in the last
hour only when money had been run up to
per cent. There was sharp reaction in the
rates for money, however, and they ran off
to per cent at the close. which induced
some buying. principally for the short ac-
largely increased to-day, though there was
heavy liquidation of long accounts The
trading, however, did not lose its profess
sional character. The close was fairly active
and weak, generally at the lowest prices of
the day. The earnings of the Northwestern
for last month served to restrict the decline
in that stocks, but had no appreciable
effect upon the remainder of the list.
The entire list is lower tonight and
Chicago 4 East Illinois preferred lost 3l5;
Erie 4 Western preferred and Missouri Paci-
fic, 2A; Chicago q East Illinois, Rock Island
and Chicago gas, 2ls; Sugar, Q; st. Paul and
G., G.. c. d St. L., rs; New England, 15s /:
Burlington, Jersey Central, Northwestern,
Oregon Transcontinental. Ia; Wheeling &
Ohio. Norfolk q Western preferred. North
ern Pacific preferred and Wabash preferred.
ia; Lake Shore and Louisville and Nash.
vile. LIS, and Canada Southern. Lacka-
wanna, Northern Pacific and Union Pacific,
1 per cent. Bonds responded to the furry
in stocks bO little more animation, the sales
reaching S912,OO0: but the weakness in
stocks was not sympathized in to any extent,
though the firm tone shown of late was
missed, and the important final changes were
smaller in number. Burlington & Cedar
Rapids firsts lost 2 at 90; Kentucky Central
fours. 2Ib at S5. Government bonds have
been dull and steady. State bonds have
been entirely neglected. The total sales Of
stocks to-day were 222, 172 shares, includ.
ing: Atchison, 1890; Delaware. Lacka-
wanna & Western, $500; Lake Shore
$3.50; Missouri Pacific. 10. 400; Northwest