St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-02
DIREcToRS
{ III
FINANCIAL.
New York.

New YORK, Aug. L. Clearances,
slO9,236, 14s; balances, s5,492,214. Money
ON call easy, ranging from 4 to q
per cent; last loan 4. closed at 80.
Prime mercantile paper, 5@619. Sterling
exchange quiet and steady at $4.S5 for
siXty-day bills, and $4.S94 for demand.
The unfavorable influence action
of the governors of the Bank
of England in unexpectedly rails
ing their minimum rate of discount, to-
gether with that of the large engage
ments of gold for export this week,
seemed this morning to have entirely
passed away, and the generally favor
able conditions and indications for do
nestle trade this fall again became pow
erful factors in the making of sentl-
ment on the street. An influential
firm is out with a circular showing that
when the Argentine troubles have been
adjusted English and continental capl
taliSts will see all the more clearly that
the most promising field for investment
is American stocks and bonds, so that,
although the Immediate effect is bad,
the ultimate influence will be good.
Dispatches from the West were almost
all of more reassuring tenor, and rail-
road officials were reported as being
much more hopeful for harmony in the
future and as confident that the re-
Gently ordered advance in rates would
be maintained. There was no further
furry in London, ana prices from that
center this morning were generally bet
Ter than those of yesterday and our mar
ket continued the improvement begun
at the close yesterday, with advances OF
fluctuations in the list, however, were
in most cases entire insignificant, and
values were moved up and down within
the narrowest limits, with no percepti-
BILE tendency in either direction, but
there were few important movements
among the specialities. While the
operations of the day were confined al
most exclusively to the professional ele-
ment, there was as great an indiSpOSi
ton to trade as at any time of late. and
outside of Sugar RefnerieS, and silver
certificates. in which there is reported
to be a bull pool, there was no ANNA
ton whatever during the day. The
consent of Messrs. Kidder, Pea
body & Co., to act in con-
| junction with the trustees on
the reorganization inspired conf
| dence in Sugar Refneries and the
shorts covered literally throughout the
| day, although there was no doubt that
| that. to some extent, by insiders. The
stock fluctuated rapidly and widely, but
| finally closed with net gain of 15s per
| cent at S054, after selling at 8214. Silver
certificates were again very active, but
without material change inprice, though
| it was traded in on distinctly higher
| level than yesterday. A pool is report
ed to have been made up to buy 1000
600 ounces, and the London market was
higher, with marked scarcity. In the
regular list, Atchison was the weak
point and G. G. G. q st. L. the strong
one, but the final changes of neither
were important. Edison Electric also
failed to hold all of its early
gain. The close was dull, but
| firm at Insignificant changes from last
evenings figures. Railroad bonds were
dull throughout the day, and not only
were there comparatively few issues
| traded in, but the issues traded were of
slight significance. Government and
state bonds neglected. The Post says:
"The early London prices before the
opening of this market were in the ma
| jOrity of cases a small fraction lower
! than the closing figures last night, but
| it was apparent that these were NOM
| inal, because there was no selling of
stocks for London account this morn
| ing. as 9here was yesterday morning; in
fact that there was almost nothing doing
in railroad stocks from London or
any other quarter, and the total
sales of listed stocks in the
first hour were only $4,000 shares,
against $4,000 IN the same hour yester-
| day. 1t was claimed, with some show
of reason, that a good deal of what
appeared yesterday to be selling for
| London account was really for account
| of spectators on the bear side of the