St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-21
FINANCIAL.
New York.

NEW DIRK, June 2O.-ClearlngS. 81 d.
S22,214: balances, "a, 836,71S. Money on
call easy at 3@419 per cent; last loan,
8: closed offered at 8. Prime mer can
tile paper. 1906. Sterling exchange
quiet but steady at $4.S54 for sixty-day
bills, and S4.SS for demand. The stock
sharp and sudden depression, and,
while not active nor specially strong,
displayed slow and steady apprecia-
ton which lifted prices before the close
to large fractions above last evenings
figures. The market at present is most
affected by the prospects of the silver
legislation, the railroad situation, and
the possibility of further gold exports.
The railroad situation, nOtwithStand-
ing the reports of rate-cuttlng,
and the disagreeable surprise when the
Lake Shore took hand in it, is not as
bad as it is made to seem and the earn
ings are sure indication OF this. In
comparison with late years at tits time
also there is less cutting reported, daily
cuts being the rule in former years.
The gold exports are undoubtedly spe-
cial orders made at loss and have as
vet had not the slightest influence upon
the money market as the rates on call
are now lower than before the first all
nouncement of an engagement of gold,
the continued flow of funds to this CEN
ter. with the very limited demand for
speculative purposes more than supply
ing the drain, while it is felt cannot
continue long, and to-day one OF the
orders of yesterday was cOuntermanded.
The covering of shorts was continuous
bnt there were evidences of new buy
ing for the long account, and a sus-
picion that preparation for another
rise is in progress gains believers. The
demand was steady though slow, and
showed no indication of pressure any
where. There were, however, few feat
ures of importance developed, the
weakness in Sugar RefnerieS in the
afternoon and the marked strength in
Chicago Gas at the same time being the
only ones of prominence. The favor
able influences were the reports that
should the house and senate fail to
agree on silver bill the administration
itself would insist upon the coinage OF
1900, 900 per month, as authorized by
the present law. There were re-
newed rumOrs of deal between
the Atchison and the Missouri Pa
cific, which Is expected to result
in a settlement of the railroad war in
the Southwest. The close was quiet to
dull and firm at about the best prices of
the day, with most of the list fraction
ally better than last evening. The
specially strong stocks were Wheeling
d Lake Erie, Pacific Mail and Chicago
Gas, the first-named being N per cent
higher, and the others per cent each.
The railroad bond market was still quiet
to-day, and, while the usual firm tone
was displayed, the movements were
generally on small scale and the i'm
portant changes were few. There was
some special animation in the Green
Bay incomes, and they furnished $751;
600 out of the 81, $4,000. They failed to
show any marked strength, however.
steady. State bonds have been dull
and firm. The Post says: There
was no news this forenoon to
affect the stock market or afford the
bears pretext for selling. So far as
the prospects of silver legislation are
concerned, they have less influence in
the minds of spectators than they had
a few days ago. The conclusion has
been logically reached that, even if the
house passes the senate free coinage
bill, the president will veto it, and that
if the senate should agree to the house
bill and it becomes law, its effect on
the currency will be comparatively
small, and would also be deferred sew
eral months. The further develop
ments in the railroad situation
were favorable in the respect
that the Chicago east-bound roads
had thus far declined to
meet the cut in dressed beef rates made
by the Grand Trunk, which shows that
they would prefer to settle the matter
in some other way than by plunging
into a rate war. A further amount of
$3.50 of gold was taken for export
this forenoon, but as the order for $780,
600 of that taken by another banking
house yesterday was Cancelled to-day,
it leaves the whole amount the same as
yesterday. The total sales OF stock to-
day were 174.029 shares, including:
Atchison, 1851: Delaware, Lackawanna
& Western, 7,140: Louisville u Nash
vile, 1924; Missouri Pacific, $3.50; Rich
mond & West Point, 6,465; st. Paul,
~ 110