St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-02-06
FINANCIAL.
New York.

New York, Feb. 5.-Clearings, $780,
llU,161 balances, s., 1OO,5S6. Money on
can easy; ranging from 8 10 per cent, last
loan 3, closed offered at s. Prime mercan-
tile paper 4s4@6l2. Sterling exchange ouiet
but steady at 81. S3l2 for sixty-day bills and
S4S7l2 for demand. With the exceptions
OF Rock Island. Reading, sugar refineries and
lead trust. the stock market was dull to day
owing principally to the mixed opinions
among the traders on the street, and feverish-
ness and 1rregularity marked the dealings
throughout most OF the day. The transac-
tons in the general list NAV be dismissed
with but few words, although Union Pacific
after the issue of the report showing a de-
crease IN the net earnings for December
OF over ST 5000 was weak and Louisville
d Nashville and several of the specalties
showed considerable strength reports from
London are very encouraging. the industrial
speculation having grown much less, con-
serVaUVe bankers are again Offering railroad
ponds ana other first class investments. The
subscriptions for the Norfolk & Western loan
were five times the amount allotted to that
center. The bears made strenuous efforts TO-
DAY and liberal short sale were seconded by q
premium dlstrl6ution of Tumors. some old
ana some new. but they succeeded in weak
enlng only few stocks, and in only three of
tnese We're there material declines estab-
hshed. The trusts were once more promi-
n Knent IN the deals. Sugar was weak
at times. but closed at about
the lowest of the day. The
bears claimed to have discovered that in
sloers VINO have held their certificates since
inc formation of the trustwere selling and as
usual were trying to take the market from
them. Lead was sold off upon the publica-
tlon OF the annual report showing only per
cent made upon the stock for the year. Lead
was Inc more active Of the two trusts In the
regular list Reading was again strong with
reports that the shorts were to be squeezed
again ana the stock was carried up to Al
about noon, the higest price yet attained and
la nnraf hn1, L. l. IL
thlId incomes two days ago. Rumors of a
mild corner to be worked III the stock we're
current. Rock Island, however, was the
feature OF the day, being again specially
weak and reaching the lowest price for
week past. The old rumors were still cir
culated, and reports that the next dividend
would be passed, which were declared by in
siders to be without foundation. were freely
sellers upon the story of heavy losses upon
the western lines, and that the movement
against the stock is well organized was ap-
parent. story from Chicago that the vice
president OF the Burlington denied that there
had been any increase in the dividend oc-
casloned considerable comment. Among the
speclalties the Chicago & East Illinois stocks
recovered portion of the losses of the past
few days, and that some others showed ma
terial gains, but, as a rule, the general
list was dull and without movement
OF importance, and the market
closed dull and heavy, generally at
oooub tnS AONeSt prices. Inc nnal changes
are IN all but few eases in the direction of
lower figures but sugar with 3ls, lead l&B
and Rock Island ] le, are the only ones of
importance. Chicago d East Illinois COM
mon rose u and the preferred per cent.
railroad bonds were more quiet for the gen.
eral list, but the Wabash seconds developed
considerable animation and furnished S2i5,-
600 out of a total of ST PAS, 900 for the dav
me market was steady and dull outside of
the bonds mentioned, ana the movements
were confined TO the smallest fractions
throughout the day. New York & Northern
seconds rose to 81; South Carolina frsts
ex-coupon. 8 to 80, and Green Bay incomes,
Ito 23. the Post says: 1.-The Burlingion's
increase of dividends was certainly q sur
prise to the street, and had an eff
feet to stltten all the granger stocks. though
little or the effect was ueutraliZed by the
understanding that if the Burlingtouis going
| 10 continue dividends at the rate of 5 per
| cent per annum, it will require somewhat
larger surplus earnings in 1890 than had in
1889. The relations between the granger
| roads are still strained, and the only thing
| that prevents serious trouble and expensive
| rate wars is the present abundance of ton
| mage. Whether they will get their differ
| ences settled so as to go into some new and
strong combination TO sustain rates, before
! the time comes when freightS will be scarce
| in April and May, AND competition viii be
| close, IS an Important question. Government
| bonds have been dull and steady. State
bonds have been entirely neglected The
| total sales of stocks to-day were 239, 95S
| shares, including: Delaware, Lackawanna
d western. $500: Louisville q Nashville,
| 6,7S7; Missouri Pacific, 1857; Reading
| a