St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-09-24
FINANCIAL.
New York.

New YORK. Sept 23.-Clearings. S7,7O4,-
OILS: balances, s., 1926, 800. Money on call
easy at 5@6 per cent; last loan, sly; closed
offered at 5l2. Prime mercantile paper, so
steady at S4.S3s4 for sixty-day bills and
81 STA for demand. The stock market to-
day showed no signs OF coming out OF the
rut of dizziness and stagnation into which it
has fallen, and the trading to-day, outside of
Louisville & Nashville and the trusts, was of
q decidedly retail character, while, except in
few Of the leading stocks, the extreme
range Of the day seldom exceeded IL per
cent. The room traders, as usual, had the
making of prices in the general list almost
entirely to themselves There were few
movements of significance, but these
were in every case the result OF spe-
cial causes and were made in spite of the gen.
eral lethargy Louisville < Nashville was the
great feature of the days operations, and its
early strength gave evidence that some one
was familiar with the developments which
afterwards gave the stock its great lift After
opening at 77Ss, the same as saturdays final
prices, it rose to 1883, but was hammered
down by the traders 10 777s. The announce
ment was then made that resolution was
made by the directors to submit to the stock
holders the proposition TO issue Sl3, 100000
new stock for the purpose of taking up the
collateral trust bonds at 8 per cent, together
with other securities which may be available.
The stock afterward rose TO 7914 and closed
at 20. Jersey Central was again a strong
feature and rose to l23s, the highest price
vet known, the influence of a report
that the first mortgage bonds were
to be funded into per cent bond helping
in the rise. The trusts were the weak spot in
the market, and sugar was sold down from
1O4 TO 1912. and, while there was talk of
rival establishment in the South, the decline
looked more like manipulation than any,
thing else. Manitoba showed some life and
advanced 1 per cent to 112, but afterward
lost the entire Improvement. The Big Fours
were also especially weak, and the common
dropped from 1884 to 71%. There was abSo-
lutely no feature outside of the stocks men,
toned, and the market after somewhat IT,
regular but steady opening, showed a little
weakness and shaded off from the opening
figures, but later moved up again, and the
course Of prices was alternately upward and
downward, with the range extremely small
and the close was quiet and fairly firm at
close to the opening figures. The gains are
almost entirely Tor small fractions only, ex-
cepuons being 1Ss and lSs, respectively,
in Jersey Central and Louisville &
Nashville and decline of 15s In sugar trust.
Railroad bonds were somewhat more active
than usual of late, the sales reaching $780,
600, which amount was widely distributed,
without any special animation in any one
issue. The tone of the market was rather
heavy, especially in the afternoon, and the
final changes in majority of cases are in
the direction of lower figures. The import
ant fluctuations were few in number but
among those which are lower this evening
Hooking Valley lost ga to 7214: internation-
al seconds certifcats 3l5 to 81; Gulf, Color
ado & Santa Fe seconds rose dig to 7115;
Rochester & Pittsburg consols, to Il9.
Government bonds have been dull and weak.
State bonds have been dull and steady.
The total sales of stocks to-day were 153, 600
shares, including: Delaware Laekawana &
Western. 3, 200: Louisville & Nashville. AZ
923; Missouri Pacific, 4,45l; Norfolk &
Western preferred. 3,400; Northern Pacific
preferred, $780, Reading, 9,400; st. Paul,
$3.50.