St. Paul daily globe., 1890-05-22
FINANCIAL.
New York.

New YORK, May 2i.-Money on call closed
ranging from to per cent? last loan, Il
closed offered at f. Prime mercantile paper,
5@7. Sterling exchange quiet and steady at
81. 1914 for 60-day bills, and Sd. S5A for de-
mand. The total sales OF stocks today ag-
gregated 563, ,O4l shares, including: Atch-
ison, sc, 800: Canada Southern, 3, $50; Della
ware Lackawanna & Western, IL, 2,O40; Erie,
3,215; Missouri Pacific, 10,7OO; Northern
Pacific, 27,S95; Oregon Transcontinental.
%, 1856; Reading 81, ,050; Richmond u West
Point Jog, ,665; St Paul II, 243; Texas Pa
cifc, $3.50; Union Pacific, 6,435; Western
Union, 4 U32. The stock market was again
very active and feverish to-day with a
general downward tendency, though it was
not until the last few minutes of business
when determined raid was made upon the
few vulnerable points i'll the list that any
material I'M preston was made upon values
There were many different influences which
had n bearing upon the course of prices and
while the general list suffered still from the
realization of long stock, the deals in Rich
mond q West Point, c., c. c. d st. l.. and At
Gibson made those properties prominent IN
the dealings. and the decision which throws
the sugar case out af court was a factor in
the early rise in the Sugar Refnerie5. The
very threatening letter of president Marvel,
OF the Atchison, to Mr.. Gould, published this
morning. however, had the effect of frighten-
ing many weak holders who fear that the
letter will be the signal for a more extended
struggle than those now in course. The
reports of further cuts i'll the rates i'll the
West had the effect of causing more realiza-
ton. The money market started out with 9
per cent rates, but nnally closed at T. and
there was no scarcity of money during the
day at ruling rates. The plan of the Rich
mond & West Point makes the rights on the
stock worth about / "a per cent and the deal
caused lively tracing in the stock, the deal
ings running up to over 100000 shares
which has not been done in a long time in
any stock London was again seller this
morning and with the early figures from
London generally lower there was weak
and feverish opening to the market, which
after that time frequently changed in tone
through the day, but the general course
of prices was downward. and the best prices
were generally made at the opening, except
in the few stocks which were influenced by
particular means, and the lowest were almost
invariably those of the close. The advance
in Sugar and Richmond u West Point during
the early dealings was marked. but AtchlSon
was weak from the outset, notwithstanding
the fact that the pending consummatlon OF
its acquisition of the St. Louis & San Fran
CISCO and the final abandonment of the vot-
ing trust were regarded in very favor
able light The threatened war with
the Missouri Pacific overshadowed all
favorable factors, and the stock dragged
down the grangers, although Northwestern
as a noted exception. The progress made in
q downward direction was small. however,
until the last few minutes of business, when
a most vigorous raid ratified of prices rapidly,
especially in sugar. West Point and other
prominent stocks. The market closed very
active and decidedly weak and the lowest
points The list is almost all lower tonight,
and Atchison is down 2s8; sugar, 2lS; Cox
orado coal, 1l2 Reading and c., c.. c. Il st.
L., Iss each, and Wheeling & Lake Erie pre-
ferred and Mexican Central each LIS, while
the only advance of note was l per cent
Railroad bonds seemed to share the feverish-
ness of stocks, and the market showed
greater number of weak points than for a
long time. with q smaller and better distritu-
ted business than usual OF late. Atchison in
comes and 4s and Texas Pacific 2ds were the
only active specialties, the total dealings
reaching 81, 1884, ,oo9. Canada Southern lists,
Northwestern extension Is, Cleyeland d
Canton lists, Fort WByne 3ds anc Atlantic
d Pacific incomes were the weak spots,
while Burlington consols, some of the Louis
vile bonds and Ontario IL Western lists were
the stron5 issues Government bonds have
been dull and steady. State bonds have
been entirely neglected.