St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-14
FINANCIAL.
New York.

New YORK, May 13.-Clearings,
S193, 256, 2S3; balances, $7,034,656. Money
on call easy, ranging from to s per
cent; last loan 8, closed offered at 8.
Prime mercantile paper, 5A@7. Ster-
ling exchange quiet and steady at
S4.S414 for siXty-day bills and S4.S6A for
demand. The reactionary condition OF
the market yesterday was not dupll-
Gated to-day, but instead of weakness
there was decided strength in all por-
tons of the list and late in the day buoy
ancy marked dealings. There was no
lack of disQuieting news from the
West in the morning, and While there
seemed to be disposition to regard the
the dispatches feeling OF hesltancy
was shown which did not en-
tlrely wear away until late in
the day, when the activity became
equal to anything yet seen on the pres.
ent rise. Chicago people supplemented
their advices of rate cutting and rail-
road decentralization in general with
orders to sell the granger stocks. but
London was a buyer and commission
houses were literally supplied with
orders tc buy which made themselves
felt at the very outset, and, While the
opening itself was rather hesitating
and very irregular, prices were soon Oh
the upward tack, and trOng tone
marked the dealings from that time out.
The furry in money was not repeated,
though the rates were run up to as high
as per cent in the middle of the day.
They could not be kept there, however.
and last loans were made at 3 per
cent, with that rate offered at the
close. The most important infiu-
ence in creating the buoyant tone
to the market was the persistent bulllng
of the industrial stocks, and. Sugar was
at the top, showing rise of over per
cent as it's best figure. Mr.. Keene is
believed to be the most active manlp-
ulatOr of the certificates, and while the
room traders follow him rather tlmldly,
the buying was Of such a pronounced
character that nothing could resist the
strength of the upward movement. The
only strong feature of the forenoon was
the coal stocks. which again made ma
teral advances, though the two active
stocks, Reading and Lackawanna. were
not so pronounced in their movements
as the inactive ones, New York Central
and Delaware g. Hudson. Vanderbilts
were strong but not prominent in the
dealings, and their movements were in
all cases measured by small frac-
tons. London bought most OF its
favorites, though there was some sell
ing of Union Pgcific and the grangers
for foreign account. especially In the
forenoon, but this was reversed in the
afternoon. The buying became general
in the last hour, and the rush to cover
shorts sent everything on the list up
rapidly, Richmond d West Point be-
coming one of the most prominent
f,,r nf tho In9rtaf AFT the
time. The. close was very active and
strong, at about the best figures of the
day in most cases. A decline OF l per
cent in Manhattan was the only impor-
tant loss, while Sugar rose ~; Della
ware & Hudson and Tennessee Coal,
~ each; Pacific Mail, Is; Richmond
ferred, ia; Laclede Gas, tx; chi
cago Gas, ~; Rock Island, rs:
Lackawanna and Ohio & Mississippi
II; East Tennessee lists preferred. 17a,
and others fractional amounts. Rail-
road bonds were not so active to-day,
but the trading extended to S1.945,O
with the Atlantic & Pacific issues, the
Atchison issues and the Texas Pacific
issues most prominent for activity. The
market was rather heSitating, and the
final changes are in few cases OF special
Importance, though the losses are rare.
The Atlantic & Pacific issues were the
strong feature. and the incomes rose 2.
to 81. Government bonds have been
dull and steady. State bonds have been
dull and steady. The Post says: "The
advance in the coal stocks was
caused by short covering and some
buying for the long account.
The selling of the grangers was based
on the report of rate troubles among the
Western roads, but the decline OF the
general market was merely the result
of realization of profits. The news in
the forenoon was not favorable to any
advance in prices, but the reports of
rate cutting, etc., from the West must
be received with considerable allow
ance. The total sales OF stocks to-day
were All, 254 shares, including: Atchi-
son, 24,7S5: Canada Southern, il4,660;
| Delaware, Lackawanna u Western. 49,
800; Delaware & Hudson, $3.50; Lake
Shore, 4,405; Louisville & Nashville,
$3.50; Missouri Pacific. 1885; Oregon
Transcontinental, 6,430; Pacific Mail,
| $40; Reading, $500; Richmond &
| West Point, 25,1S5; st. Paul, 1850;
| Texas Pacific, $3.50; Union Pacific.
~