St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-27
FINANCIAL.
New York.

NEW YORK, Aug. 26.-Clearings to-day,
S135, 300 695; balances. $5,504. 3OS. Money
OH call easy, ranging 3t2 to + per cent; last
loan 3l2 closed offered at 2. Prime mercan-
and steady al S4 92l3 for sixty day bills, and
S4S6 for demand. The situation at the
stock exchange continues to improve, and
rates for money to-day were down to a rea-
sonable figure for the first time in many
days. The market, however made no marked
response to the improved conditions, and re-
manned comparatively dull, with slight fuctu-
atoms after squirt at the opening. The pos
tive relief which has been afforded to the
money market in the past few days,
if enough had not yet been done to
give ease. something more would be tried,
dismisses the monetary situation as dis
turbing factor from the situation for the
present at least The list of September is
close at hand. however, and the usual shift
ing and calling in OF loans in order to pro-
vide for the quarterly payments must make
some trouble during the remainder of the
week. There is, therefore, no marked dispo-
sition to embark in new ventures on the long
side even yet There was a rush to buy at
the opening this morning, and the market
opened with boom, the advances over last
nights figures extending to Us per cent in
the cases of New York Central and c. c. G. &
ST. LOUIS. The demand did not sustain these
high figures, however, and the further i'm
provement was small when taking of
profits on the rise was followed by
some selling by the, bears, which
resulted III q fractional reaction with
the usual result of dizziness and stagnation
The market continued to present a firm I'M
dertone until the last hour, when the buying
began i'll earnest encouraged by the eX-
tremely low rates prevalent for money, and
in a short time advances extended to 1l2 per
cent were established. Sugar. Refneries LED
the upward movement on the rumor that
S10,O0O,0 900 of the stock had been deposited,
and while the rumor lacked continuation
there was no reaction i'll it's rise. All the
stocks which have been weakest of late were
specially prominent In the rise and net gains
of ga in Sugar; Big Four 2ss; Lackawauna,
2ls: Denver & Rio Grande preferred,
2; Lake Shore. la; Reading, Ia; Northwest
ern, st. Paul, Louisville q Nashville each
lSs; Atchison, Canada Southern. Canada
Pacific, Rock Island and Richmond & West
Point each IA; Missouri Pacific, Northern
Pacific preferred, Transcontinental receipts
and Western Union each us; and Southern
Pacific and Union Pacific, l per cent each,
were established The close was strong at
the best figures. Railroad bonds were slightly
more active, but failed to develop any more
decided tone, and among the few important
changes in quotations declines are The more
numerous. The sales were only $685., 900,
without any special features. Government
bonds have been dull and steady. State
bonds have been entirely neglected. The
Post SAYS: considering the extreme strin-
gency OF the money Market last Weeh,anu the
gravity of the circumstances in connection
with the bad crop reports and the labor
strikes it is very remarkable that the
prices of stocks should have so nearly recov-
cred already. There has not been time for
half dozen years when stocks would have
stood SO firmly against the shock OF the COM
pined circumstances above mentioned. 1t
shows that speculation in the stock market
having dwindled down to the smallest pro-
portions during June and July, the stocks
1a,, dc
though the decline from Aug. to Aug. %
was from To points 1t did not cause q