St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-09-30
FINANCIAL.
New York.

NEW YORK. Sept 29-Clearings $50 $685.
134. balances 81. 81. 65l. Money on call,
ranging from 2l2 to per cent: last loan 3,
closed offered Mt 3. Prime mercantile paper,
5S@7. sterling exchange quiet but firmer
at ST.. SOs4 for sixty day bills and 81 S5 a for
demand. The stock market to-day was
moderately active during the forenoon and
quiet for the remainder OF the day, the prin-
cipal feature of the transactions being the
squeeze OF the shorts in lackawanna which
gave tone to the whole market although the
movements in the rest of the list were gen.
orally slight. The effects of the bank state
ment were also firm on more pronounced
bullish feeling on the street. and the agrees
sive front which the bears have lately shown
was conspicuous by It's absence to-day
although there ,o Vas still great deal
long stocks INDUCED in and the
disposition was rather to liquldate
OH the other side of the account. The move
ment in Lsckawanna was the only one of
note outside of the rise in Sugar Refineries,
while marked weakness was shown in Chi
cago Gas in which the manipulation for a
decline seems not yet to be over. Atchlson,
st. Paul and Union Pacific which have been
ratified off so vigorously of late, were all act
i've but displayed no pronounced strength,
and Union Pacific was still inclined to droop
under the unfavorable prospects of the fund
ing bill. The movement in Sugar. which was
second only to that in Lackawanna, was as
inexplicable as all OF the late fluctuations in
that stock have been~and for the time being
it has lost its influence upon the stocks in the
railroad list Lackawanna opened at 81 .45l2
and during the forenoon was rapidly
pushed up to SLASH, when the buying
Stacked away and material reaction
was had before the close. AS the early
buying Stacked away, however, the bears
again came to the 'front.' and Union Pacific,
in view of the rather unfayorable showing
of the earnings, presented fair mark, and
was hammered down IN the absence of sup
port about 21i per cent. Attention was paid
also tC Reading and North American and
the former yielded readily Silver was again
weak. even in the face of the late dimunition
of the stock OF over ZOO, 600 ounces during
the last ten days. The general market fol-
lowed the decline in those stocks slowly, but
the raid was not sufficient to wipeout all the
early gains and the close, while quiet and
weak, was generally made at small fractional
gains on the opening figures. The market on
the whole showed more strength to-day
than usual of late. The final changes are
1Ss and Lackawanna ". while Reading lost
] 1s and Union Pacific per cent. Railroad
bonds were quiet, but there were a few active
spots, and out of a total business of 81, 020.-
000 Atchison incomes furnished $4,000
and Texas Pacific seconds. S160.OU0. The
market was fairly steady, however, through
out The session, and the active issues showed
no material change after the day was over.
Government bonds have been dull and
steady. State bonds have been dull and
without feature. The Post says: 1.-The
higher rates of interest for money on call in
London than here make a tendency to move
loanable capital that way, but there is also
scarcity of commercial or any other kind of
bills in the market, and both circumstances
combined to make an advance in the rates
for exchange. The statement of the Cleve-
land, Cincinnati. Chicago & st. Louis (Big
Four for the month of August shows sur
plus earnings over charges equal TO l 4-1O
per cent on the preferred stock and for the
two months TO Aug. 81, surplus equal
to 24S-l00 per cent on the pre-
ferred, or about one-half of the >
per cent annual dividend on the
$lO.OOO.OO0 preferred. The two months
proportion of the dividends on the preferred
calls for SS3, 1872. leaving for the same two
months Sl65, 252 for the common, or equal
TO 7S-1OO per cent on the S23,575, 900 of
common stock The two months of July and
August are among the poorest of the year for
this company, the best being the next five
months from September TO January inclusive.
But as the net earnings of these two poor
months are iii the proportion OF 4s4 per cent
per annum OIL the common stock, it appears
altogether reasonable that for the whole year
| they will be equal to about per cent on the
| common stock The total sales of stocks to-
| day were 80, 500 shares including Atchl-
! son. % 500; Delaware, Lackawanna West
! ern. 3. ] 20; Lake Shore, a. ITO; Louisville &