St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-01-25
FINANCIAL.
New York.

NEW YORK, JAN 24.-Clearings Sl15, 49,
376; balances, S6,47l, 661. Money on call
easy, ranging from = TO 3I2 per cent: last loan
3, closed offered at per cent. Prime mer-
cautile paper, 5I2@6I2. Sterling exchange
dull and firm at 81. S2l5 for sixty-day bills
S4.S6l2 for demand. The stock market
again showed an increase in the amount of
business done to-day though the general
list no more than held its own, the increase
being almost entirely due 10 the renewed
buying of Readi lg, which became the leader
OF the market again and scored Il handsome
advance as the result of the days business.
The market, however, still gave evidence OF
the complete change in the sentiment of the
street, and while in uut few cases were
the gains recorded of special importance,
the Improvement reached all portions OF
The list and was very uniform. The market
was much broader today. the loW-priced
stocks again becoming conspicuous i'll the
dealings. and commission houses report more
inquiry from outsiders and growing dispo-
sition TO invest The other coal stocks did
not respond TO the activity and strength in
Reading which is believed TO arise from the
efforts of the opposition to the CorDin man
agement to get control of the property. The
rise In the anthracite shares has stimulated
speculation in the smaller bituminous COM
pal1es whose business prospects, at least for
the present, are rather brighter than those
of the larger companies, and to-day Col
orado Coal resumed its upward march
and closed with net advance of 2 per
CcHt' aICulSOH Dtcdule d feature curing the
morning hours and on heavy purchasing by
some prominent brokers it made a material
advance, which was accompanied by rumors
in regard to the voting trust which took the
shape that 1t would be either abandoned or
defeated or modified in some Way The
Northern Pacific group was more prominent
to-day. and Oregon Transcontinental was
specially active and strong at one time,
though 1t settled away later in the day. The
trusts were firm and sugar was bought upon
in 10 ra11f Of foty 40. do
clslon by the court, the price of the certifi-
Gates would have a sharp advance Among
the low priced shares, Hooking Valley and
Lake Erie & Western common were
any marked movement. The general list
was quiet, with firm 10 strong tone through
out. and while there was the usual realizing
toward the close of business, the business
done was greater than for the past few days,
and the market closed firm, while dull, gen.
orally at small fractional advances over last
nights prices. The trading in listed stocks
reached 25l.943 shares. Railroad bonds
were again moderately active, and while dis
playing more uniform tone than usual of
late, the movements were smaller and the
dealings lacked special feature. The Texas
Pacific DDS supplied $4,000 10 the total
day business of S1,SlS,o0O. Mobile &
Ohio as rose to 65a5. Tine Post
firmness Of Reading at price
which is certainly above what it
should be in view of the business prospects
of the company is that the anti-Corbin party
are preparing to contest in the courts the le-
gality of the election of Mr.. Corbin 10 the
presidency. Litigation is always protracted
beyond the expectations of either side to the
contest, and while it lasts it is always detri-
ment TO the property involved. In This case
also 1t Will antagoniZe the Morgan interest
the money power of which was the chief
factor in making the Reading reorganization
possible on the present plan. Missouri Pa:
clhc is stli being marked up. 1t can scarcely
be said that any one but Mr. Gould Is buying
other buying of Missouri Pacific there
may be is mainly by SPECTATORS with
the hope that he viii engineer an
advance in the price, though it would be ex-
pecung great deal 10 expect that he will
buy all the stock that the Spectators may
want to sell when they want to realize on
the advance, The higher prices for the an
thracite coal stocks have stimulated specula-
ton in the low priced bitumi1ous stocks, be-
cause the latter are already TOO high for their
prospects of business. But such stocks as
Hooking Coal and Iron. Colorado Coal and
lron-whlch is reported to have just made a
very advantageous contract with the Joliet
Iron and Steel company, and Wheeling and
Lake Erie. which has just completed an i'm
portant extension from BoWerstuwn. O.. to
Wheeling and Stroudsburg, are all like
ly to be general favorites i'll the speculation
OF the next few months. The aforementioned
road owns valuable territory of over 5000
acres of coal lands, which will furnish it with
large business, but which has as yet been
scarcely touched, and yet in the six months
to Dec 81 the surplus earnings over the
dividends on the preferred stock were equal
to about 1 per cent on the S3.5' 5000 of
common stock. Government bonds have
been dull and steady. State bonds have been
duh but firm The .otal sales of stocks to-day
were 2S0.375 shares, including: Atchison,
1900; Delaware, Lackawanna g. Western,
1884; Hooking Valley, 1850; Lake Shore,
1867: Missouri Pacific, 1850; Northern
Pacific preferred, $3.50; Oregon Trans
mond d West Point $500; ST. Paul, 5. eS5
Texas Pacific, 1870; Union Pacific, 6,74O