St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-24
FINANCIAL.
New York.

NEW YORK. Oct. 23.-Clearings, $125. 1884,
S04; balances, ST, 390,483. Money on call
easy, ranging from 8 to 2 per cent; last
loan, 8: closed offered at g. Prime mercantile
paper. 6s4@1S. Sterling exchange quiet but
strong at ST. ll2 for sixty-day bills and
81. S6l2 for demand. The stock market on
the whole was active to-day, but the heavy
dealings were all in Sugar Refneries, which
gave tone to the entire market, and decided
weakness was the rule of the day. There has
of late arisen distrust of the monetary situa-
ton, and strenuous efforts have been made
to create a feeling of uneasiness over the
Ronsb the 0n bsst naees Eur sas ,h
there Is no real cause for dis
quiet. With the first sales this morning
flood of stocks, usually favorites with Lon
don, were poured upon the market, effecting
a material depression in values. The most
important elemenJin creating this depres-
sion, however, was the weakness in Sugar
Refneries. which aaga assumes it's old posi-
ton of the chief dlsturber of values. There
have been of late all sorts of rumors i'll circu-
lation in regard to the trust and The possibil-
ity of a receiver, with the result of bringing
Hood OF long stock upon the market.
Many stop orders were uncovered, and from
72l2 last evening it was ratified off to
This was exhausted in rally
to 7012, and IN the afternoon a
further drop to 67I3 was made, after which
rally to 6SS6 exhausted the recuperative
power of the stock. and it went down to
66l2 in the last hour. a net loss OF per cent.
IL rallied feebly i'll the final dealings, but
closed at close to The lowest point Of the day.
Chicago Gas Sympathized, the rumorS of O
new SUIT sending It off to 2@4 per cent, and
while the railroad list met with some severe
pressure prices kept within fractions of the
opening figures in most of The list, though
Union Pacific and Louisville & Nashville
were weaker than the rest. especially in the
afternoon. Money appeared scarce in the
forenoon. and rates on call were run up to z
per cent but loans were made as low as 3
per cent, and funds were offered at that rate
at the close. The market closed active and
weak at or about the lowest prices of the day.
The final losses are generally small fractions.
but Sugar is off 5&; Chicago Gas. 2ss;
Louisville, 1ss: c.. c., c. & st. Louis. 1ls:
Union Pacific, 1ss; North American, lIs,
and Northern Pacific preferred ! per cent
Railroad bonds were quiet and without feat
ure of importance, although Atchison IN
GENES furnished $126,OOsi out of a total
days business of Sa3S.U00. The few marked
changes were generally in the direc
bonds have been dull and featureless.
The Post says: 1.-The crest feature of the
day, and the one which did the most to de-
press the Whole stock market, was the heavy
selling of Sugar Trust. The cause of the
heavy decline was merely the increasing dis
trust of its financial condition 1t is now
well known that prominent member of the
board Of trustees has sand that for long
period antedating the present time the trust
has made no money and that consequently
the inference is that at least some of the re-
cent dividends paid were not earned. In the
last half hour money was down to 5 per cent
on liberal offerings by leading trust COM
pany.' The total sales of stocks to-day were
33U,419 shares, including Atchson, 1903 !;
Delaware, Lackawanna 4 Western, 1O,t 81 !;
Erie. 4, 220; Louisville & Nashville, 1850;
North American, 13,100; Northern Pacific
preferred, $3.50; Reading, 1890; Rich
nrond d West Point, 3,l59; st. Paul, 20, 94u !;
Union Pacific. IL. 800.