St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-07
New York.

NEW YORK, June 6.-Bank clearings to-
day, $l29, 966, 100: balances, $6,095, 914.
Money on call easy, ranging from to
per cent; last loan 4, closed offered at a.
Prime mercantile paper, 484@612. Sterling
exchange quiet and steady at S4.84lA tor
sixty-day bills and 81. S612 for demand.
The indications Oh the surface in Wall street
were all favorable but the market remained
narrow and quiet, and the favorable infu-
ences were afterward entirely neutralized by
les. The market, therefore, took on a wait
ing attitude after the first hour, and the rail-
way list became dull and moved within very
narrow limits without feature of impor-
lance. The great feature of the day was
sugar rehnerles again, and the recent advance
in the price of refined sugar without cor
responding advance in the cost of the raw
article aided in creating strong tone In the
stock at the outset, ana later rumor that
Spreckels had come into the trust was the oc
caslon of rise of about 4 per cent Toward
the close, however, this rumor was denied
and the selling Immediately resumed large
proportions, and sudden drop from Sac
to 7512c occurred, the business doing at the
time being simply enormous. There was a
partial recovery from the lowest price, but
the stock is materially lower this evening
The railroad list at first failed to respond to
the break in sugar, but it gradually yielded,
and in almost all cases the early advances of
the forenoon were lost. Chicago Gas was
the weakest stock on the regular list and
its close sym pathy with Sugar would account
for all of its decline. as there was no news of
any kind of a character to influence values
in any manner. Among the speclaltles there
were few marked movements during the day,
but the regular list moved within narrow
limits throughout. In the early dealings.
after opening advance of from 1s to " per
cent, Oregon Transcontinental showed the
way, but the further gains were only frac
tional, outside of a few stocks. Sugar rose
4l2, Citizens Gas "a, and Quicksilver pre-
ferred per cent; but these gains were after
wards partially lost, and Tennessee Coal was
particularly weak, losing / l2. The close was
rather heavy, and the final changes while
irregular and for fractional amounts
only, show majority OF losses and
Sugar is down ga. while Citizens Gas is up
%. Railroad bonds continue to show
moderate amount of business, and while the
tone of the dealings is still firm, considerable
lrregularity in the movements exists, and de-
clines are fairly numerous this evening. The
demand runs to the issues of the roads now
movements even in those issues are not
specially wide. They, however, present
firm front, and give tone to the general mar
ket The sales to-day reached 81, 646,000.
Government bonds have been dull and firm.
State bonds have been dull and firm. The
now concentrated mainly upon congress and
the movements of the administration as
of the greatest Importance in in
fiuencing the movements of prices of stocks.
The action of the secretary Of the treasury
yesterday in advancing the price at which
he would accept.4 per cent bonds per cent
shows that he is endeavoring to stop the ac-
cumulations in the treasury, and this. to-
gether with the proposition of Senator Sher-
man to pay out, when practicable, the re-
demption fund held in the treasury for the
redemption of the national bank notes,
creates the impression that the appropria-
tons to be made before the close of con-
gress will, in all cases and for all purposes,
be made unusually large Whether cor
rectly or not the expectation Of some legis-
lation on the silver question has also become
pretty general among the speculative part of
the business community, and all these
things combined are the chief elements in
causing the advance in prices of stocks just
at present. Easier money will certainly re-
suit in higher prices for stocks. The total
sales of stocks to-day were 326,556 shares.
including Atchison, J 8, $50: Canada South
ern, 6, $50; Delaware, Lackawanna d West
ern, O,400; Louisville & Nashville, $3.50;
Missouri Pacific, $500; Northern Pacific,
$500; Northern Pacific preferred, 3,239;
Oregon Transcontinental, 300; Reading,
600; Richmond & West Point, 6,225; ST.
Paul, 1O.61O; Union Pacific, 1O,38O.