St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-11-10
FINANCIAL.
New York.

New 7 DIRK. Nov. Bank clearings. $780,
5000 2; balances: $6,2s4. 763. For the
week, clearings $77l, 10. ,644; balances.
$50, ,339: Money on call easy, ranging
from 4l2 10 D per cent, last loan 4l2, closed
offered at 4l2. Prime mercantile paper go
s. sterling exchange quiet and steady at
S4.I9i2 for siXtyday bills and 81. 81 for de-
mand. 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 adviceS from London were rather
more favorable this morning, and the
recent movements in the railroad world
looking toward 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 ali i'm prove
ment or only a 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 a 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 ana some others
were very material in the first halt hours
trading. Illinois Central dropped = per cent
st. Paul and Chicago Gas lI2. Lackawanna
a like amount. Western Union 3d. Sugar and
Louisville "a, and others per cent and less.
The pressure was then abatcd. aud cumyara-
tive dizziness was accompanied by considera-
bic of q reaction in the list when stagnation
in prices succeeded. The bank statement
when issued showed reduction in the sur
plus reserve of about Sc, 100000, ard there
was Immediately another rnsh 10 sell for
both sides of the account, and q sharp break
followed Particular attention was paid by
the bears 10 Reading, c., c., G. & ST. l.. and
ST. Paul preferred, each dropping away
whj1a lnSSoS nf
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
first hour. Others. however, reached still
lower figures than were touched yesterday
and the close was active and weak at or
about the lowest prices of the day. As COM
pared with last evening, Reading is down
l7s; New England. 70; Lackawanna. North
ern Pacific preferred and New York Central
each. IA; ST. Paul and Louisville & Nash
vile each, 11s Illinois Central aud Burhng
ton u Quincy each, LEI. cent and others
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 S6Su.tGO, with no special feature of III
terest in the trading. The weak tone of yester-
day was continued, however. and all the i'm
portant final changes were losses. Govern
ment bonds have been dull and steady.
State bonds have been dull and without
port of New York during the week amounted
to S145, $40, of which S42,91U was in guild
and 81 SO, O in silver. The imports of,
specie during the week amounted TO SiI2,-
467. of which S75,4e7 was in gold and
S36,OsO silver. Petroleum opened weak on
forced sales and spot oil fell 1lzc and De-
cember option lac before this liquidation
ceased. Then the market rallied and 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
25,0S1 shares, including: Delaware. Lacka-
wanna e. Western, 1925; Lake Shore,
s,7O5; Louisville q Nashville. 1875; Mis-
souri, Pacific, 3,Ol5; Northwestern, 1900 !;
North American, 1850; New York Cen
trail, 5,9o9; Northern Pacific, preferred,
6.370: Reading, 25.6lO; Richmond & West
Point, $3.50; st. Paul, 25,145; Union
Pacific, 9,9l5; Western Union. 5,425.