St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-05
FINANCIAL.
New York.

NEW YORK, Aug. 4.-Clearings. $751;
45S, 100; balances, S5.505.551 Money OIL
call easy. ranging from to per cent;
last loan, &; closed offered at =. Prime
mercantile paper, 5961a. Sterling ex-
change quiet and easier at S4.S5 for sixty
day bills and $3.50 for demand. The
disposition to await developments is
still paramount in Wall street, and the
stock market, even under the most
favorable conditions, shows no sign that
there is to be revival of interest in
speculation or an increase in business.
Shrewd operators. however, are cred
tied with the utterance OF optimistic
opinions on that point, and they say
that the men, the money and the stocks
are here, and when the times are ripe
there Will be seen the greatest specula-
ton the street has ever seen. In the
meantime the rather mixed condition of
the railroad rates. Notwithstanding that
the returns from the traffic at present are
most encouraging, is one of the most
efficient causes in creating the feeling
of hesitation and the universal DISPOSE
ton to make no further move until the
situation is little clearer. The gold
exports also continue, and there is
well defined fear that the design of the
Bank of England is to draw still more
gold, for which this country offers the
only available supply at present. At
the same time, while the bullish feel
ing is very pronounced upon American
stocks In London, the South American
lnuddle prevents any appreciation of
any kind of securities in that market.
Local operators are more bulllsh than
during the past two months, but are
affected by the general uncertainty,
and prominent commission brokers ad-
wise waiting for the present. The bank
statement of Saturday was a great deal
of disappointment to the advocates OF
higher figures and further engagements
/ of gold were made for export to-day.
This gave the bears another oppor-
tunity and they selected the Missouri
Pacific and Atchison to bear the brunt
of the attack. The talk of scarcity i'll
the corn crop of Kansas and hints of
possible failure to pay the interest on
the Atchison incomes, together with the
recent passage of the dividend upon San
francisco first preferred stock were the
impelling causes for the attack. Both
of the stocks were forced off about ~
per cent, but Sugar was strong
and held the decline in the
general list in check, and, not
Withstanding that special efforts
were made to get st. Paul and
Rock Island down they were maintained
at close to the opening prices. the gain
in earnings in the first named being
factor in the strength displayed. Fur
ther gold exports added their mite to
the depressing influence, however, and
late in the day, after material i'm
provement had been scored from the
lowest points. money became apparent
| lu onI rQtnc call IN y
per cent, the offerings at the close being
at 6. Missouri Pacific felt the last in
fiuence most and retired to the lowest
figure, while others again declined
slightly. The close was barely steady,
generally at small fractions below first
prices. A comparison of railroad earn
| ings reported to-day with those
| of the corresponding week of
| last year shows that Pittsburg
and Western scored a decrease while
Iowa Central increased Il per cent.