St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-01-03
FINANCIAL.
New York

New York, Jan. 2.-Clearings, $195, $685..
1872; balances, $S,657, 1873 Money on can
tight, ranging from to 8 per cent last loan
8, closed offered at 2. Prime mer t,a IN,
steady at 81. s4l4 for sixty day bills and
81 1914 for demand. The stock market at
the opening of the new year was something
of a disappointment TO the advocates OF
higher figures, as the day, except tor short
time in the early morning, was given up to
the bears, although the impression made
upon values, except in a few special in
stances. was not of special Importance. Inc
rise of the last part of Monday was contln-
ued in the early trading, with London quite
room was generally bullish, though the
traders who were doing the most OF
the business were taking profits. The
buying soon became scattered, ana the
bears came to the front again as clrcum-
stances were for the moment greatly IN their
favor. Money was working very closely,
rates being held at 6 per cent all the fore
noon, and later moved up to per cent, the
limit of late A rumor from Chicago OF
hitch in the carrying out of the agreement
among the granger roads, and Boston sent
story of q probable passing OF the next ulEl-
dend of Atchison with the report OF the
earnings for November. showed loss OF
nearly 100000. and although this was
pected, the effect upon the value OF the stock
was very marked. Itdropped B per cent, ana
pressure was brought against the other
grangers, Rock Island, Burlington and st.
Paul, each yielding over polnl Some enoft
to make it appear that Mr.. Gould was not
in sympathy with an advance at pre-.
sent, and Missouri Pacific was forced on
materially. Outside Of the shares mentioned,
however. the losses were confined 70 Irac-
tons ouly. and good buying appeared at inc
low range of quotations, which later rallied
the list, and the coal stocks became specially
prominent for strength, Jersey Central III
particular leading the upward movement
with gain of over point and half. READ
ing and Lackawanna were not SO strongly
affected by the bullish reports on the coalers,
but the former was helped by the rise in the
bonds. which were higher OH rumors from
Philadelphia of payment of the first and
second incomes. Bull points were circulated
freely upon New England, and that stock
was one of the most active on the list, but IT'S
range Of prices was not marked, and 1t
finally closed at an insignificant change
from its Mondays figures. The OPEN
ing figures were from Ia to ~ per
cent above Mondays prices, with
Missouri Pacific in the lead. but there was
very little vim to the subsequent trading, and
with the exceptions of New England and
LackaWG ma no strength appeared. Atchl-
son soon came to the front, being very weak,
and the rest of the list slowly followed,
yielding gradually until toward p. m: Rock
Island, Burlington, st. Paul and Missouri
Pacific however, in turn became prominently
weak and all retired q material amount be-
fore the rally set in. Jersey Central sprang
into activity and rapidly advanced 1l2 per
cent, bringing the rest Of the list with 1t.
although in none were the early losses en-
urely recovered. AtchisOn moved up point,
but the recovery was afterward again lost
The upward movement was not OF long
duration, and in the last hour the market
again became quiet, finally closing
dull and with fractional losses for
the day. Jersey Central shows an
advance of las per cent, but Atchison is
down 3i2, Burlington 1sB, Rock Island, 1ss
and Missouri Pacific Ivy. The special feat
ure OF the dealings in railroad bonds to-day
was the activity and strength in the Reading
incomes and as, and the last named bonds
contributed S257 900. the first incomes s. g.
600 and the second incomes Sl55,O 600, out
of a total days business of 81 .55l, 600. The
tone of the general market, while rather firm,
showed no decided character, and the
changes i'll quotation for the day, in all ex-
cept q few instances. for slight fractions
only. the Fort Worth and Denver frsts only
displaying any animation. Wabash sevens
of 1879 receipts rose to Sc and the first re-
ceipts to 90. Government bonds were dull
but heavy for the 4s. State bonds were dull
and firm. The total sales of stocks were:
d. L. d w $21, so IN. j. Central. 500
Erie ...... Apo N. Pacific pfd 3,414
Lake Shore. 1O.712lOre Trans. 2,S's
/. d ~. 80. 1920 Reading ...... $4,000
Mo. Pacific. 6,s7OISt. Paul. Is, 101
Northwestern S,l65 West Union. 1928