St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-01-24
FINANCIAL.
New York.

NEW YORK. Jan. o3.-Clearings S1l7, 1851
2u3; balances, S2,035. 069. Money on call
easy, ranging from 3 to 3la per cent: last loan
3, closed offered at 3 per cent Prime mer-
camille paper, 5l2@6l2. Sterling exchange
steady at S4.S2 for siXty-day bills, and
81. "a for demand. The stock market TO-
day showed more animation than yesterday,
except in the trusts. and better distribution
of business, while the evidences of broad
ening out of the market continued to grow
The firm to strong tone of the past few days
was still there at the opening this morning
though the improvement was believed to
have been more from the covering of shorts
than from new buying. The market TO-DAY
continued to advance. though very slowly
until toward delivery hour when realizing
sales upon the rise of the past two or three
days caused a set back. and as result The
final changes this evening were only for frac-
tions and equally divided between gains
and losses. Not single important change
is-noted among the active stocks. A feature
of the day was the increased attention paid
to some of the low-priced shares, many of
which awoke to activity to-day and " ere ad-
vanced moderately. The grangers as a rule
were heavy. and Rock Island and ST. Paul re-
tired small fractions, while Union Pacific eX-
hihited ather more strength than for some
time, and crawled up a little The trusts
were less prominent in the dealings, though
Lead showed more animation with some ad-
vance in price, the feeling upon it being more
improved for the time being, while the others
were heavy. The market finally closed quiet
and heavy at the figures. Oregon Transcon-
tinental was helped by the report that the
Northern Pacific had placed about ST, 100 600
OF its bonds i'll Germany.
Railroad bonds were again fairly active
and the report of the merging of the King
committee with the Olcott committee in The
Kansas Texas organization, the bonds of
that COMPANY were once more active and The
rs contributed So, 600 to the DAVIS total of
Sl,6O5.U0O. The Texas Pacific lists were
also active, and the transactions ran up TO
SlO7,UuO. The temper of the market was
not so firm to-day, and considerable Irregu-
larity was noticeable in IL from opening to
close, resulting in wide irregular changes for
the day. Milwaukee, Lake Shore q West
ern convertibleS rose rs to lU44; Northern
PACING dividend scrip 4 to 1O7. The
Post says: IL is now pretty well
for the reorganization of the Kansas
d Texas have been harmonized and conse-
quenlly there is every reason to believe the
reorganization scheme will prove q success.
in which case the stock is likely to 90 con,
slderab!y hlgher. oregon Short Line which
Sold at Dup week ago. sold this morning at
o442. Ine large earnings of this property in
dlcate that 1t will soon become an established
dividend payer; there is no good reason whv
II shonid not. and many good reasons WHY
it should. III this connection IL was noted
IN this column mat most natural policy (the
types enormously made it NATIONALLY of the
Union Pacific would be to establish
these great auxiliary systems like
the Oregon Short Line and Utah
Northern, ana the Union Pacific, Denver q
Cult upon dividend paying basis before re-
Stunning dividends on Union Pacific stock.
This seemed SO probable a course that some
people who are always looking for something
wrong jumped 10 the conclusion that the Or.
egon Short Line earnings had been swollen
by arbitrary and favorable rates granted to it