St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-01
BANK OF MINNESOTA.
FINANCIAL.
Rev York.

NEW YORK, May 3l.-ClearlngS to-
day, S174,0 ,361; balances, s6.s63, 500.
For the weeS-Clearings, $67S, 9l0,524 :;
balances, S29. 946,S31. Money on call
easy, with no loans; closing offered at
f per cent. Prime mercantile paper,
1906. Sterling exchange quiet and
firm at s4.S44 for sixty-day bills, and
S4.S614 for demand. The stock market
to-day was quiet, as was expected, the
holidays. and the attendance being very
meaeer, the fluctuations as a rule were
neither wide nor significant. The deal
ings for the most part were profess
sional, and the final result of the
days trading is to leave prices
within small fractions OF last Thurs
days closing figures. The London mar
ket, which is still under the influence of
the restoration OF passenger rates in the
West, was strong and even buoyant,
and the figures from that place this
morning were materially better than
ours of Thursday afternoon. This mar
ket responded with opening advances
extending to q per cent, and the strong
feeling continued until further frac-
tional advances were established over
the entire list, and even the trusts were
for the time being unusually strong.
When the first demand was satisfied,
however, the traders went in for turn
on the short side, and pretending to be
over anxious about the bank statement
sold stocks freely all around the room,
with the result of depressing most
stocks to a shade below the
opening prices, while few like
the trusts were brought down to mas
terially lower figures. Chicago Gas
proved most vulnerable and dropped to
1921 after selling at 5314 while Sugar
lost all of its early advance of about 2
per cent. In the regular list, Louis
and fell away II per cent, while among
the low-priced shares, Louisville, New
Albany IL Chicago and Laclede Gas
made very heavy declines for such
stocks. The bank statement, however,
proved to be unusually favorable, the
increase in the surplus reserve
being nearly a million and half, which
caused an effort in the last
few minutes of business to- recoup the
early sales for the short account, with
the result of bringing many stocks up
to and above first prices. The close,
however, was rather heavy and COM
paratively quiet. The final changes are
very irregular, and generally for small
fractions only, but Colorado Coal is up
25s and Wisconsin Central u; while
Chicago Gas is down per cent. Rail-
road bonds were quiet and almost abSO-
lutely without special feature, beyond
some animation in Atlantic IL Pacific
incomes and Laclede fives, the latter
being weak. The trading reached only
1851, O00. Sales for week aggre-
gated s6,s21,O 200. Governments have
ALL Cfaf
bonds have been entirely neglected.
amounted to S25, 740, all gold, of which
So. sO3 went to Europe and SIG, 937 to
South America. The exports of specie
for the week amounted to SS4,514, of
which 1852 was in gold and s60,562
in silver. The Post says: cit was well
known that the drop of gu in Sugar
Trust Thursday on top of seven points
decline in the two previous days was
caused by the selling of insiders but
it also caused some dsmay among deal
ers who had been active III marketing it
up and expected it to go higher. and
therefore had as demoralIZing an effect
Oh some of the most active spectators
as was caused by the unexpected de-
ciSion in Chicago, against the legality
of the Chicago Gas trust-for whatever
might have been the expectations of
lawyers, the decision of Judge Collins
was a surprise to the spectators in
Gas Trust. Some of the leading OPP
orators had also been expecting more
important downward reaction than that
of Thursday, and they had consequently
sold some of their long stocks, and put
Union Pacific and Rock Island. Added
to these features was the dsappoint-
ment in regard to the failure of the
trunk lines to make a complete settle
ment of the freight rates east of Chicago
and Duluth, so that altogether it was
very feverish market, in which there
was so much confusion and contradict
DRY features that many of the usual
daily Spectators were doing almost
nothing. Nevertheless, there was a
general prevailing sentiment that as
soon as the disturbance caused by the
decline in the trust stocks cleared away
the general list of railway stocks would
advance, and certainly the general con-
ditions of railroad traffic have not been
so favorable for four or five years
as at present. 10 large eX-
tent this improvement in rail-
road affairs has been reflected i'll
the list for the past month and created
the greater part of the improvement,
viz: the settlement of the passenger
rate war and the probable settlement of
the freight rates west of Chicago, have
been the development of the last week.
during which prices have declined and
consequently left room for an advance
to correspond with the advance in rail
road bonds. The total sales Of stocks
to-day were 157,S72 shares, including:
Atchison, $3.50; Delaware, Lackawanna
q Western, 5000; Lake Shore, 6,107;
Louisville & Nashville, !l2,463; Mis-
siouri Pacific, 1860; Northern Pacific,
$500; Oregon Transcontinental. 14,S25;