St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-03-20
FINANCIAL.
New York.

New YORK, March 19.-Clearings,
S11S,O76,05 balances, S., 662,652 Money
on call easy, ranging from 80 to per
cent; last loan, 81 per cent, closing Of
fered at 315 per cent. Prime mercantile
paper, 515961S. Sterling exchange quiet
but strong at $4.S2 for slXty-day bills
and 81. S5 for demand. The stock market
was dull and with a generally heavy
tone during the forenoon, which gave
and prices are left at insignificant
changes from last nights figures. The
usually active list all fuctuated within
the narruwest limits and the only wide
movements were made in the speciaities
and were few in number. The principal
influence upon the market to-day was
the weakness In London, which re-
Election of the uneaSiness in Berlin
over the resignation of the great Ger
man chancellor. The depression at the
opening was of short duration, and was
accompanied by no activity or excite
ment, and the market quickly settled
down into it's usual dull and listless
condition, the movements in prices be-
ing scarcely perceptible in the great
majority of the list for the remainder
of the day. Almost all of the news hav-
ing a bearing upon the stock market
was of favorable nature, and the re-
port of Chairman Faithorn that salts
factory progress had been made toward
the settlement of the rate disturbances
between st. Paul and the seaboard was
powerful aid to the late frmness in
the market. The opening was made at
concessions from last nights figures
generally, though London prices came
from half to per cent down. A few
further losses were susta ned. but
prices soon began to rally, after which
the usual dullness and stagnatiOn ruled
the list until well into the afternoon,
when sugar refneries moved up Oh the
prospect that the dividend question will
be settled tomorrow. Tennessee Coal
also INDUCED in one of its sudden
movements, rising from As to 81 on
rumor that the differences i'll the man.
agement had been settled. Some other
sharp movements took place in the
specialties, and Wheeling & Lake Erie
preferred, after decline, rose to II;
dropped about per cent from its last
previous sale, and Toledo q Ohio Cen
trail fell away over per cent. The mar
ket, as whole, was almost barren OF
general features and fl nally closed
about steady at the close to first prices.
The final changes show a majority of
declines which, however, are invariably
for insignificant fractions, while Ten
nessee Coal is up per cent and Sugar
IA. Railroad bonds were also eX-
tremely dull, the sales of all issues
reaching only $4,000, with no special
animation anywhere i'll the market.
Government bonds have been dull and
steady. State bonds have been dull and
barely steady. The Post says: 1.-The
fact that the prices of stocks were a
little lower in consequence of political
event in Germany does not. however.
imply that the stock market would be
very seriously affected. even if the
conservatives should be realized.
The value of these stocks and
bonds are based on their aiv-
idend and interest paying pros
poets. and certainly these prospects
have not been so good for all railroads
in the United States at any time in
three years as they are now. There is
an unusual abundance Of capital in
Europe seeking investment, and when
the owners of that capital become con-
WINGED that the present prospects are
rapidly Undertaking. into a great and
permanent improvement in the earning
capacity of the railroads. there is likely
to be a greater influx of foreign capital
for investment than has been witnessed
at any time before. For the present it
is merely a waiting market, but with
such firm undertone that there can
scarcely be any important decline be-
fore there is an important and compare
lively permanent advance. The total
sales of stocks to-day were 1872, 200 shares,
including: Atchison, 5,S03; Delaware,
Lackawanna & Western, 20.300; Louis
vile & Nashville. 1926; Missouri Pa
cific, $3.50; Northwestern, 3,217; Read
ing, 1880: st. Paul, 10.106; Union
Pacific IL $50.