St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-11-09
FINANCIAL.
New York.

1900 2; balances: s6.2s4, 763. For the
week. clearings S77l, 10. .644; balances.
iron 4I3 to 5 per cent, last loan Iia, closed
offered al die. Prime mercantile paper 90
:. sterling exchange quiet and steady at
S4.19t2 for siXty-day bills and Sd. 80 for de-
maud. To-day's stock market was merely an
annex TO that of yesterday, and weakness
WAS still the great characteristic of the deal
ings, prices being still lower this evening.
The sdYices from London were rather
moro favorable this morning, and the
recent movements in the railroad world
looking toward q better and harmonious
state of affairs received more attention. and
The disposition was TO look for any improve
ment in prices providing the bank statement
should give any assurance that squeeze in
the money rate would not compel the throw
ing overheard of purchases within a reason
able time. The general expectation was that
the statement would show either an improve
ment or only slight change, and the traders
were disposed to cover their shorts in the
early trading with the help of some buying
for foreign account. The opening under
these circumstances was made at prices
which were from y to "a per cent better than
last evenings figures; but notwithstanding
the buying the pressure to sell was still heavy
and declines i'll the Changers and some others
were very material in the first half hours
trading Illinois Central dropped g per cent.
ST. Paul and Chicago Gas 1l2. Lackawanna
like amount. Western Union ISB, Sugar and
Louisville l "A, and others per cent and less.
The pressure was then abated. and compare
tive dizziness was accompanied by conSidera-
BILE of a reaction in The list, when stagnation
in prices succeeded. The bank statement
when issued showed q reduction in the sur
plus reserve of about S3,5U0,0O0. and there
was Immediately another rnsh 10 sell for
both sides Of the account, and sharp break
followed. Particular attention was paid by
the bears TO Reading, c., c., C. & st. l.. and
ST. Paul preferred, each dropping away
a
cent and under were numerous. The
pressure showed no abatement up to the
close. although some stocks had not lost all
of the reaction from the lowest prices of the
lower figures than were touched yesterday
and the close was dctive and weak at or
about the lowest prices of the day. AS COM
pared with last evening, Reading is down
i7s' New England, y; Lackawann9. North.
ern Pacific preferred and New York Central
each. ia; st. Paul and Louisville &; Nash
vile each, lis; Illinois Central and Burllng
ton q Quincy each, per cent and others
fractional amounts, while Pullman Is 112
higher and Pacific Mail, per cent. Rail-
road bonds showed the same quietness as
usual of late and the sales of all issues reached
only $3.50, GO, with no special feature of IN
tereKt i'll the trading The weak tone of yester-
day was continued, however. and all the i'm
portant final changes were losses. Govern
ment bonds nave been dull and steady.
State bonds have been dull and without
feature Inc exports OF specie from the
port of New York during the week amounted
to $I45, $40, of which S42,9IO was in guild
and 81 80 in silver. The imports of
specie during the week amounted to S112,-
4o7, of Which S75,497 was In gold and
$50, GSu silver. Petroleum opened weak on
forced sales and spot oil fell 1Iac and De.
cember option llsc before this liquidation
ceased. Then the market rallied aud closed
steady. The Post Says Of to-day's bank
statement that the decrease Of deposits does
not show any corresponding decrease OF
loans. such as might be expected,
and as the disappearance of the
specie cannot be accounted for by
any movement of money to the interior or to
Europe, it Is suggestive Of the possibility
that trust companies and capitalists or others
have put money away and locked it up in
vaults because they are uneasy. There is no
doubt that the active business Of the interior
has retained much larger amount of specie
in circulation throughout the country this
year than ever before and that it will not
come back here, but this does not account
for the decrease of specie in the banks this
week. The total sales of stocks to-day were
225,uSl shares, including: Delaware. Lacka-
wanna & Western, 1925; Lake Shore,
8,7u5; Louisville q Nashville, 1875; Mis-
souri, Pacific, 3,0l5; Northwestern, 4,6UO;
North American, 1858; New York Cen
tral, 5,3oS; Northern Pacific, preferred,
6.37o: Reading, 2.'6lo; Richmond & West
Point, $3.50; st. Paul. 25, l45; Union
Pacific, 9,9l5; Western Union, o,425.