St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-09-26
FINANCIAL.
New York.

NEW YORK, Sept. 25.-Clearings. $780,
774,655; balances, S6,59S.2S7. Money on
call easy, ranging from DIP to 5 per cent
last loan DE, closed offered at PIP. Prime
mercantile paper, 6@712. Sterling exchange
quiet and steady at S4SUl2 for sixty-day
bills, and 81. S4l2 for demand. The stock
market to-day was very quiet in the general
list. but Sugar was extremely active again.
and brought the total trading up to the av-
erage OF the past week The tone of the deal
1ngs, however, was not strong except in the
early morning, when small advances were
scored IN the railroad stocks. The Bank of
England this morning advanced its rate of
discount from to 3 per cent, and London
as rule was seller to mod
crate extent of its specialties. though
the foreign operations in the aggregate were
not large and had very little influence upon
the course of prices in our market. In fact,
the advance in the rate of discount was so
fully expected and discounted that it did not
even create a ripple on the general bullish
feeling which had taken possession of the
traders and first prices were generally from
lb to ss per cent higher than last evenings
final figures. The general opinion was that,
in view of the shaping of affairs in the
Southwest, Mr.. Gould was preparing to in
aug urate an upward movement in his
stocks, and the market being relieved of the
incubus of the pressure marked of
late IN the grangers and Wizards the traders
are encouraged 10 take the long side, at
least for turn, and the buying extended
to almost everything in the railroad list
though the Improvement was small in every
| case. RumorS from Washington were inter
| preted as unfavorable TO the sugar Interests.
| and there was general selling movement
| inaugurated in Sugar Refineries stock which
| swelled the business done in it to unusually
| large proportions, while its price Welded
readily. dropping in all about per cent.
| This Quenched the bullish ardor of the trad
| ers, and they took the bear side wherever
selling orders were discovered, with the re-
suit of w1ping out the early gains in the rail-
q fQ cfO hin,
| were known to have special support. A
| more determined attack was made upon the
| list in the last hour, accompanied by re-
ports OF large failures in Boston, and
is most snterested furnished the
special objects of the drive. Atkinson led
| off. followed by Union Pacific and each of
them yielded over l per cent. Under cover
| of this movement, however. there was good
| buying of Sugar Refneries, and it recovered
about half of its early loss. Silver certificates
were again weak and dropped away ,to
| S1.12l2 on light transactions. Tile market
| closed active and weak at or about the lowest
| prices of the day. notwithstanding a slight
rally in the leading shares in the last few
minutes trading. The final changes are
| almost invariably losses OF small fractions,
but Sugar is off 112; Atchison iss and Union
Pacific 11s per cent. Railroad bonds were
again moderately active. the sales OF all issues
| reaching S1,31S.000, and while firm to
strong tone prevailed early in the day, the
| list sympatnlzed with the share list and de-
| clined in the afternoon. The attack upon
| Atchison in the afternoon was preceded by
| marked weakness in the bonds earlier in the
day. The final changes in the remainder OF
the list were also generally insignificant
Government bonds have been dull and
steady. State ponds have been dull and
| steady. The Post says: Now that the re
ceipts of grain, provisions and live stock al
Chicago have increased to volume which is
in excess of this time last year, there is good
| ground for the assumption on that the east
| ward trunk lines from Chicago will have
larger earnings this winter than last. The
eastbound shipments from Chicago are now
very largely in excess Of this time last year