St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-04-13
FINANCIAL.
New York.

NEW YORK. ADrll H. Clearin3S
to-day, S1l6,S39.697; balances, SIS. 6022. 100.
For the week. clearings, $500, 242 OBS;
balances, S29.247,0S1. Money on cali
easy, with 10 loans. closing offered at 3
per cent. Prime mercantile paper, so
z. Sterling exchange quiet and barely
steady at S4.S51 for siXty-day bills, and
$4.S7 for demand. The stock market
was little more active to-day tnan
during the same hours for many days,
and on the whole showed more strength
than at any previous time this week.
he bears were again active and ag-
greSSive in the early trading, encour-
aged by considerable London selling.
The grangers were still the principal
point Of attack, and Rock Island, Bur-
llngton q Quincy and St. Paul were
leaders both in point Of activity and
weakness. The Gould stocks, on the
contrary, were quite firm, and Missouri
Pacific showed great siren 9Th around
70, giving evidence of inside buying.
Pacific Mail was in all probability
bought for election purposes. the eIec-
ton taking place next month. Lacka-
wanna, Wheeling and Lake Erie Pre-
ferred. Western Union and Union Pa
cific were all firm, and all but the latter
were dull. There was literally nothing
in the unlisted department. Toward
the close there were rumorS circulated
that negotiations between the Wander
bilt and Gould interests would probably
result in bringing the Missouri Pacific
into the association, and the bank state
ment being more favorable than the
general expectation there was liberal
covering of shorts in the last half hour,
Which had the effect OF rapidly adyanc-
ing prices all over the list and as a rule
the early losses were entirely wiped out.
Tennessee Coal declined 2 per cent while
Colorado Coal displayed marked
strength, especially in the last hour,
when it rose 14c. The market finally
closed quiet but firm, and generally at
insignificant changes from last even
ing's figures. The final changes are in
most cases advances .but for slight frac-
tons only. Railroad bonds were dull
and without feature. The sales of all
issues reached only S3S5.00O and the
only marked movement was an advance
of &c in Burlington. Cedar
Rapids and northern consols to S915c
The sales of bonds for the week aggre-
gated $7.246, 900, against S6,666,OOO for
last week. Government bonds have
been duly and steady. State bonds
have been neglected. The exports of
oDOSlC llOiL tilC pQiI VI NGW DIX UuI-
ing the week amounted to ST. 104. 1888, of
which $751;, 7OS was gold and S546, 675 sill
yer. The imports of specie for the
week amounted to 1897. 1856, of which
s369.974 was gold and Sl7.9ll silver. The
Post says missouri Pacific, Burling-
ton and Rock Island went down more
easily than any of the Others, their ex-
IRENE decline ranging from 23S for the
first to 33s for the last mentioned.
There seems, however, little reason
to doubt that there has yet been
scarcely any attempt to cover any
of the short sales OF these
three last mentioned stocks, and until
some Such effort is made there can be
no conclusion as, to how strongly they
are held. 1t was pretty generally ex-
pected that the bank statement to-day
would show further decrease of from
$1.5Oo,o00 to 100000 in the surplus re-
serve. and it was on this expectation
that stocks were pretty freely sold again
in the first hour and half to-day, the
st. Paul, Burlington, Union Pacific
and Missouri Pacific. But when the
bank statement was announced at IL As
it showed decrease of only S99O,075 in
the surplus reserve, which was due to
the fact that the deposits showed de-
crease of S1,336, 800, thus diminishing
the requirement for reserves by 1854,
100; the decrease of legal tenders and
specie was, in fact, s2,1S6,00O. There
was, however. one noticeable point in
the statement that the loans showed a
decrease of 81, 49, 600. Indicating that
the banks were in more conservative
and easier condition, instead of being
more expanded, as was thought prob
able would be the case. So far as this
had any significance for the stock mar
ket, it showed that stocks were being
carried more largely on capital outside
of the banks, and, therefore, more in
dependent of them. The total sales of
stocks to-day we're S5,0S2 shares, includ-
ing Atchison. 1926, Delaware. Lacka-
wanna & Western, 5000: Louisvill &
Nashville, 3,1Sl; Missouri Pacific. $500;
Northwestern, 1900: Reading, 3,4O0; St.
Paul, 800; Union Pacific, 7,7d0.