St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-04-07
FINANCIAL.
New York.

NEW YORK, April 5.-ClearlngS to-
day, SOC, 9SS.693; balances, 4,616 1877; for
the week, clearings, S574, 22S, 0S7; bal
ances, So, 270,626. Money on call easy,
ranging from to 4 per cent, last loan
81, closed offered at 3. Prime mercan-
tile paper, 5@71s. Sterling exchange
quiet and steady at S4.S4A for siXty-day
bills and S4.S7 for demand. The stock
market to-day was again very limited
affair. and outside of a few specialties.
which were affected by influences pc
cular to themselves, there was no
movement whatever. The collapse of
the suit against the Chicago gas trust
furnished little life to that stock, and,
after opening up % at 461a, it re-
acted fraction, but afterward
rose to a shade above its open
ng price. The shorts covered
rather freely. but there was
little demand for the stock in other
directions. Lackawanna early loomed
into prominence and advanced frac-
ton under the impression that squeeze
of the shorts might be attempted. but
later the stock reacted and closed at
Thursdays price. Richmond & West
Point was still influenced by the late
acquisition of the Erlanger roads by the
East Tennessee. and occupied prom
inent position in the early portion of
the session, but became quiet later and
reacted with the remainder of the list.
Among the specialties the only marked
movement was in Manhattan, which
suddenly Spurted up from 1861 to 1851
on very light trading, and for no ap-
parent reason. The bank statement was
expected to show a decrease in
the surplus reserve, but the actual
decrease was much beyond the
expectations, and the life and strength
were taken out of the market by the eX-
hibit. The movement in the general
list was confined as rule to less than "a
per cent, and the dealings presented no
feature whatever, though strong tone
prevailed in the first hour, giving place
to weakness later on. The close was
dull and barely steady at about opening
prices, which were generally lower
than Thursdays figures. Railroad
bonds were quiet, and, though firm
tone was shown in most of the list, the
final changes are generally of little i'm
portance. The sales of all issues
reached SS94.60O. with the Atchison is
sues and the new Chesapeake & Ohio is
sues most prominent. The sale
of bonds for the week were $780,
900, against $5,947.000 for last week.
0ovclllilCHb JULIUS h1NC pCoH Uuli
and steady, State bonds have been
of specie from the port of New York
during the past week amounted to $685.
1874. of which S75,543 was in gold and
sS9O,541 in silver. The imports of
specie during the week amounted to
S316, SIT, of which $233, 100 was in gold
and SS3, 447 in silver The Post says:
All the movements of prices for stocks
in the last week point to the conclusion
that there is an increased disposition to
speculate for higher prices, and that this
disposition waits almost entirely OH the
money market. The expectation that
money would be easier after the first
week OF April was to some extent dis
counted by the general advance of from
a to So per cent in all the fifty or sixty
active stocks since last Saturday, but to-
days bank statement is likely to make
hesitating stock market again during
the first half of next week, until specu-
latOrS can make another forecast of the
money market. The bank statement
upon its face is not so very unfavorable,
as the surplus reserve is still larger
than at this time last year, while the
loans are S11.00O,000 less and the de-
posts $19,000,000 less than then. But
the fact that the United States treasury
disbursed 100000 of April interest
this week, the most of which should
show in the bank statement. indicates
that. but for this extraordinary disburse-
ment the money market would have been
quite light enough to stop the advance
in stocks. So far as the treasury is con-
cerned it is continual agency of con-
traction. The total sales. OF stocks to-
day were 62, 22S shares, including: Della
ware, Lackawanna q Western, 10,915;
Pacific. SIS: Reading, 800; Richmond
& West Point, 6,492; st. Paul, 5,7l2;
Union Pacific, $500.