St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-21
FINANCIAL.
New York.

NEW YORK, May 20.-Clearings, $780,
55O,9 1886; balances, $6,302, 206. Money on
cali closed ranging from to 10 per
cent, last loan S. closing offered at s.
Prime mercantile paper 5(07 per cent.
Sterling exchange quiet and weak at
S.S4M for SiYty-day bills and $3.50 for
demand. The stock market was quite
irregular to-day in its movements, and,
until the last hour, was much less act
i've than any day for week back, and,
while the general tone Of the list was
dropping, there were few specially
strong spots, which served to give a
character to the dealings which other
wise would have shown some weakness.
The London market came materially
lower this morning, and there was free
selling of the London favorites at
the opening, Louisville u Nashville
being especially weak, but i'll the light
of the subsequent events, the suspicion
that the London market had been
rugged for effect gained ground. The
bears aided their selling operations In
the early dealings by vague rumors of
an influential financial Institution in
difficulties, but when the name of the
bank became known it met with instant
denial and the talk of it ceased. The
favorable factors of the day were the
bullish utteranceS of Mr.. Armour, with
the special developments in few OF the
leading stocks. From the start the
bears went cunning for stop orders and
did succeed in uncOvering a few, but
stocks were insignificant. AtchiSon
was strong feature all the
way out. The prospects of the ac-
QUESTION of the complete control of the
San Francisco, together with the late
handsome earnings reported by the
road created a demand which kept the
stock moving slowly but steadily i'll the
upward direction, even when the rest
of the list we're sagging. The Wander
bits again came to the front, and &C,
G. & st. l.. showed special buoyancy,
the occasion of which was found in the
rumorS OF 80 per cent dividend upon
the stock at the next period, and talk of
rights on new acquisitions of the road.
Sugar was strong all the way out, also,
and bull points were as freely diStrib-
uted upon it as at any time since the
present manipulation began. 1t scored
a rise of nearly 4 per cent, al most
all of which was retained at
the close. Richmond u West
Point was taken IN hand in
the last hour, and on very large trad
ing, it advanced about ~ per cent on
the calling of the meeting tomorrow to
consider the qualification of the system.
Oregon TranSconlinental was the weak
point in the general list, but its final
loss was only fractional. Among the
! low-priced shares Ohio Southern be-
came prominent late in the day by a
| sharp rise, but the movements in that
class of stocks, as rule, were without
special importance. The money marke
ruled fairly easy throughout the day,
until toward delivery hour, when rates
we're put up sharply; but, although 10
per cent was reached, it seemed to have
no influence upon the upward move
ment III progress. The close was strong
and active at about the best
prices reached during the day. The final
changes are insignificant as a rule.
though few stocks recovered their open
ing decline, and the majority of the list
are lower tonight; but while Delaware
| 81 Hudson with loss of 2 per cent is
the only stock to show material loss
Sugar is up 3$s; Ohio Southern 23s
Richmond & West Point, both common
and preferred, ~: Atchison ~ anc
c., c., c.. & st. l.. per cent. Railroad
bonds showed about the same amount
of business to-day, the trading reaching
80. 72r, 900 with special animation in the
| Texas Pacific seconds, the AtchiSon in
comes. the Atlantic u Pacific incomes
and tours and the Ohio Southern tours
While all of these issues were firm theil
movements were confined TO fraction:
only. and the general list showing nj
marked tendency in either direction