St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-07-24
DIREcToRS
FINANCIAL.
New York.

NEW YORK, July 23.--Bank clearingS,
$50, 272.S25; balances, $4,25O, 1876. Money
on call easy at 81 to per cent, last loan
4, closed offered at per cent. Prime
mercantile paper. SOS. Sterling ex-
change quiet, but firm at $4.S4% for
sixty-day bills, and S4.SSs4 for demand.
The stock market to-day was as dull as
ever for the railroad list, but was given
an appearance of animation by the
activity in the trusts. The firm under
tone which has become so pronounced
characteristic of the market of late
was still retained, but the fluctuations.
usual limited scale The street is as
near dead as possible, but the few
habitues who still are left are inclined
to take an optimitic view of the future,
both as regards prices and business.
The hopes of the street are now CEN
tered in the probability of the
secretary of the treasury obtain
ing sufficient offers of bonds to
relieved the situation and insure an
easy money market during the fall
when the demands for the moving of
the crops shall cause the withdrawal of
funds from the New York banks. The
The waiting attitude is taken on all the
questions now open which have bear
ing upon the values of securities, and
while the news from the railroad meet
ings is OH the whole rather favorable, it
has no influence further than to main
tain the firm tone of the market against
the dullness. The principal attention
was paid again to sugar refnerieS to-
day, the talk of the reorganization,
which it appears is now to be under
taken in earnest. helping on the bull
speculation in it, and material adj
vance occurred. A feeble response was
made to this rise by lead trust and some
of the pecialties, but in no other stock
was there any important move
ment during the entire sess-
ion. Lead was helped by the
reports of large earnings and the talk
of dividend, although no definite in
formation was to be had in the matter.
Among the specialties Citizens Gas of
Brooklyn advanced rs per cent. Hook
ing Valley, Pullman and Denver d Rio
Grande preferred were active without
special movement, and had no influence
upon anything else. 1t TRANSFERRED after
the close of the business that the
trustees of the Sugar Trust had to-day
begun suit in Kings county for the
purpose of winding up the trust and
disposing of the properties composing
it. The strength of the stock during
the day was therefore fully accounted
for. The market In general continued
dull and listless until the close, which
was dull and steady to firm at about
first prices. Another factor which
creates an improved good feeling
is the fact that it is now
clear that the crops have been injured
only in Kansas. Sugar is up 81 and
Citizens Gas II, but all other changes
are slight. Railroad bonds were fairly
active, the trading extending to $780,
900. distributed over large number of
issues. The changes in quotations,
however, were on the same limited scale
as usual of late. and only few bonds
show any important fluctuations. Gov
eminent bonds have been more active
and strong. State bonds have been
quiet and firm. The Post says: The
public have reason to expect that there
will be a change of policy on the part
of the treasury, and that there will be
large purchases at an important adj
vance in the prices of the bonds. One
since Saturday the per cent bonds
have advanced per cent to 122 at noon
to-day. The check given to speculation
in London by the South American
financial troubles can scarcely last
much longer. The Argentine Repub-
lie will, within the next week or so,
either be obliged to suspend specie pay
ments or will show its ability to main
tain them, and in either case the Lon
don money market will be relieved from
its present suspense. These are the
aspects of the general situation, which
impart a rising tendency to the stock
market in spite of its dizziness. The
e expectations of a superintendent sup
ply of money in July have thus far been
and there are some rea
sons for thinking that the rates TO
money will con tinue OH highe aver
age throughout this year than last, and
in this respect will be drawback on
any speculation in stocks, though not
necessarily sufficient obstacle to stop
an advance in prices. The total sales
Of stocks to-day were 121, 043 shares. in
Atchison, 6.810: Delaware,
Lackawanna d Western. S.59S; Hook
ng Valley, 2,135; st. Paul, 4,610; Union
Pacific 2 000