St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-29
FINANCIAL.
New York.

New YORK, Oct. 2S.-Bank clearings. S16S,-
1887 balances, $6,3l3,541. Money on
call easy, ranging from TO 6 per cent; last
loan 4l2; closed offered at 5. Prime mer-
camille paper 6QS. Sterling exchange quiet
and steady at S4.S 81 for sixtyday bills and
Si.>51a for demand. There was very little
stock market to-day outside of the few
leaders, but the transactions in them, while
not as large as usual of late, rolled up q re-
spectacle volume of business at almost stead
lily declining prices. Sugar was again the
await developments on the part Of the ma
iority of holders, the traders again
took advantages of such situa-
ton to hammer the stock down. There
was no let-up on the stock from opening to
close, and while the decline resulting. was not
SO large as last week it served to give a
dropping tendency to the general list The
street was 1ull of the story that the Union
Guilty in the West The fact that the presi-
dent and the general traffic manager were TO
meet the officials of the other granger roads
to try TO fix up the existing difficulties was
entirely ignored as was all the news of the
day, which was generally of a favorable
nature. The stock was knocked off 2l2 per
cent however, and on the way down the evil
dences of heavy covering Of shorts accu-
mulated. The stock in common with the
rest of the active shares, however, dis
played no recuperative power and
the final prices in all are close to the lowest
of the day. The other granger stocks. with
Louisville and Chicago Gas, were prominent
in the dealings. but only the last-named SYM
palhiZed with the downward movement to
any marked extent. There were few strong
spots III the list. but they were all in the IN
active specialties. The market was extremely
dull after the bulk of the hammering was
over, and closed heavy at about the lowest
prices reached. The strength in silver certi-
ticates was one of the sustaining influences
late in the day: ana they closed 2 per cent
higher. The final changes in the regular list
are all for small fractions, and, with a few
exceptions, are all in the direction of
lower figures. while Sugar is down
u ~ and Union Pacific is down 2ls.
The railroad bond market was dull, the sales
of all issues reaching only $50, 900. and the
majority of the bonds traded in showed q
heavy tone, with the usual slight changes.
The losses were more numerous than usual
of late, however. and Union Pacific 4laS lost
3 at n; Wisconsin Central incomes, at
44l2. Government bonds have been dull
but firm. Stale bonds have been dull and
without feature. The Post, speaking of the
speculation in sugar trust. says: 1.-THE street
is still full of rumOrs about q statement that
will soon be made by the trustees showing
that the plant is worth So, 0OU'i and the
quick assets Sl1 600, 600. or $50. 600, 600 in
all, being ~ per cent of the capital, 500,
100000 But as yet there is no author
ity whatever given for any of these figures,
and on the other hand, it was the common
understanding months ago that the certifi-
Gates were issued to The owners of the va
rlous rehnerles which went into the trust ut
the rate of $3.50 for 81 of the estimnted
value of the refineries, which would make
the total estimated value of the plant, say
S16,OOO,OO0 or S17,OOu, 600. The difference
between SlT,000,O00 and $500 900 is SO
great that, without any knowledge rs to
which is the nearest TO correct, it is absurd
that anybody should deal in it. especially
when there are others who do know what it
is worth, but do not tell. The total sales of
stocks to-day were 26O, COZ shares, including:
Atchison, 1860; Delaware, Lackawanna L.
Western, 6,220; Louisville & Nashville, 49,
545; North American. 6, 40; Reading, A. S25;
Richmond & West Point, 5000; St. Paul,
23.730; Union Pacific, 42,555; Western
Union 6. 56O