St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-28
FINANCIAL.
New York.

SIG, ZOOS, 175: balances, S7,566, 1868. Money
on cell close, ranging from to 10 per
cent; last loan 5, closed offered at 4.
Prime mercantile paper 5@7. Sterling
exchange quiet and steady at S4.S4115 for
sixty-day bills, and S4.S7H for demand.
The temporary stringency in money
rates yesterday is explained by the ma
turing of heavy obligation reouir-
ing the locking up of $2,O00,000 for the
day, and to-day there is an easier feel
ing in the market, Notwithstanding
that the bank statement is expected to
be rather unfavorable, and all call loans
run till Monday. There were no new
features of special Importance
in the railroad situation, although
Chicago specials reported that
everything had been arranged
for the restoration of freight rates
throughout the West and Northwest.
The influence of this announcement
was fairly overcome by the continuance
of the Illinois Central strike, nOtwith-
standing reports that there would prob
ably be an end to it to-day. The deal
ecIipsed in interest by renewed senSa-
ton in Chicago Gas, in which the tran
sactions ran up to very large figures,
while the most pronounced strength
was displayed by the stock. The up
ward movement was accompanied by
rumOrs that the charter suit had been
dismissed and the receiver discharged,
while other reports stated that Charlton
would have all injunction against the
payment of any dividend or
moneys belonging to the diff
ferent companies composing the
trust. The adverse reports, however,
seemed to have but little effect, as the
stock rose per cent, to 57%, yielding
only small fractions upon pressure to
sell. Sugar was unusually dull, and
the transactions in the unlisted depart
ment reached the smallest figures for
any full day for long time, the inter-
est in the trading being small and the
fluctuations on a similar scale. In the
regular list st. Paul, Atkinson, Read
ing, Richmond & West Point and Louis
vile & Nashville were most prominent,
but the dealings were very light,
while they were traded in over a small
range, Among the specialties there
we're few marked movements, and
Hooking Valley, Evansville u Terre
Haute and Laclede Gas made sharp adj
vances on comparatively large trading
for those stocks. Late in the day
money again was forced up to an eXor-
bitant rate, and the effect was seen in
the gradual wiping out of the early inn
provement in the general list, though
no material downward movement was
scored. The evident disposition of the
local operators, owing i'll great part to
the dizziness and the prospect that it
will continue for some time, is to ham,
mer the list, and in the absence of any
check prices may be expected to slowly
shade off. The close was dull and heavy.
generally at Insignificant changes from
the opening price. The final changes
are irregular, but large majority are
fractional losses, and while Oregon
TranScOntinental and Canada South
ern are each down l per cent
Chicago Gas is up 23s, and Evans
vile and Terre Haute ~. Rail
road bonds were not so active, and
the sales of all issues reached only $685.
900, out of which the Atchison incomes.
which were the only active speciality of
the day, furnished $4,000. The mar
ket was generally steady to firm. but
few issues partOok of the declining
character of the stock list, and the Chi
cago, Burlington 81 Northern fives lost 2
at 1919; Peoria, Decatur u Evansville
division skies 2 at 104. while there
were no 1UlpOItdllG duVdUCGS. i llc-
Post says: ''The Union Pacific again
makes an unfavorable showing in the
great increase of the percentage OF its
operating expenses; the result. is that
for the five months including May 81
the gross earnings increased 10per cent.
the operating expenses increased 81
per cent, and the increase of net earn
ings was only "a of 1 per cent.
T6is was presumed to be largely due to
the snow blockades in the winter, but
the month of May shows no improve
ment in this respect, for while the gross
earnings show an increase Of 2S115 per
cent over May, 1889, the operating eX-
penses show an increase of AZ per cent,
and the net earnings an increase of
TX per cent. Some of the Western rail-
road managers who are opposed to the
Union Pacific-Northwestern alliance
are ready to say that it is in part re-
sponsible for this poor showing, because
it deprives the Union Pacific of all the
business which the other roads east of
the Missouri can divert from it, and
leaves the Union Pacific dependent en-
tirely upon the Northwestern for bust
ness from east of Omaha. The total
sales of stocks to-day were 1S9,962
shares. including: Atchison, 11,630;
Delaware, Lackawanna & Western,
3,7OO; Hooking Valley, $500; Louis
vile & Nashville. 6.96G; Missouri Pa
cifc, $500; Oregon Transcontinental,
5000: Reading, 5000; Richmond &
West Point, 1920; st. Paul. 1880;