St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-02
FINANCIAL.
New York.

NEW YORK. May Chickering's to-
day, S174,OS6, 361; balances, s6.S63, 1866.
For the week-Clearngs $678, 910, 1874;
balances. SOS. 1871. Money on call
easy, with no loans; closing offered at
per cent. Prime mercantile paper,
1905. Sterling exchange quiet and
firm at S4.S44 for siXty-day bills, and
S4.S6L for demand. The stock market
to-day was quiet as was expected, the
holiday session coming between two
holidays, and the attendance being very
meager, the fluctuations as rule were
neither wide nor significant. The deal
sional, and the final result of the
days trading is to leave prices
within small fractions OF last Thurs
days closing figures. The London mar
ket, (which is still under the influence of
the restoration OF passenger rates in the
West, was strong and even buoyant,
and the figures from that place this
morning were materially better than
ours of Thursday afternoon. This mar
ket responded with opening advances
extending to q per cent, and the strong
feeling continued until further frac-
tional advances were established over
the entire list, and even the trusts were
for the time being unusually strong.
When the first demand was satisfied,
however, the traders went i'll for a turn
on the short side, and pretending to be
over anxious about the bank statement
sold stocks freely ali around the room,
with the result of depressing most
stocks to shade below the
opening prices, while a few like
the trusts were brought down to ma
terally lower figures. Chicago Gas
proved most vulnerable and dropped to
1881 after selling at 5314. while Sugar
lost all of its early advance OF about 2
per cent. In the regular list. Louis
Vile & Nashville was pressed for sale,
and fell away IL per cent, while among
the loW-priced shares, Louisville, New
Albany & Chicago and Laclede Gas
made very heavy declines for such
stocks. The bank statement, however,
proved to be unusually favorable, the
increase in the surplus reserve
being nearly million and half, which
caused an effort in the last
few minutes of business to recoup the
early sales for the short account, with
the result of bringing many stocks up
to and above first prices. The close,
however, was rather heavy and COM
paratiyely quiet. The final changes are
very irregular, and generally for small
fractions only. but Colorado Coal is up
25s and Wisconsin Central "; while
Chicago Gas is down, per cent. Rail
road bonds were quiet and almost abSo-
lutely without special feature, beyond
some animation in Atlantic 81 Pacific
incomes and Laclede fives, the latter
being weak The trading reached only
S567, 900. Sales for week aggre-
gated S6,S21, 900. Governments have
been dull and steady. State
bonds have been entirely neglected.
The exports of specie last week
amounted to S25, 74O, all gold, of which
SIS, SO3 went to Europe and S16,937 to
South America. The exports of specie
for the week amounted to SS4, 514, of
which S23, 952 was in gold and s60,562
in silver. The Post says: ut was well
known that the drop of 81 in Sugar
Trust Thursday on top of seven points
decline in the two previous days was
caused by the selling of insiders but
it also caused some diSmay among deal
ers who had been active III marketing it
up and expected it to go higher, and
therefore had as demorallZing an effect
OH some of the most active spectators
as was caused by the unexpected de-
| cisiOn in Chicago, against the legality
| of the Chicago Gas trust-fOr whatever
might have been the expectations Of
| lawyers, the decision of Judge Collins
was a surprise to the spectators in
| Gas Trust Some of the leading OPP
| orators had also been expecting more
| important downward reaction than that
| of Thursday, and they had consequently
| sold some of their long stocks, and put
| out lines of shorts in Atchison, st. Paul,
Union Pacific and Rock Island. Added
to these features was the disappoint-
ment in regard to the failure of the
| trunk lines to make complete settle
ment of the freight rates east of Chicago
and Duluth, so that altogether it was a
very feverish market, in which there
was so much confusion and contradict
DRY features that many of the usual
daily sueculatOrs were doing almost
nothing. Nevertheless, there was a
general prevailing sentiment that as
| soon as the disturbance caused by the
decline in the trust stocks cleared away
the general list of railway stocks would
| advance, and certainly the general con-
ditions of railroad traffic have not been
so favorable for four or five years
| as at present. To a large ex-
tent this improvement in rail-
road affairs has been reflected in
| the list for the past month and created
| the greater part of the Improvement,
viz: the settlement of the passenger
| rate war and the probable settlement of
| the freight rates west of Chicago, have
| been the development of the last week,