St. Paul daily globe., 1890-04-10
FINANCIAL.
New York.

NEW YORK, April 9.-Clearings to-day,
$102, 1904, $40; balances, $3,925, lI6. Money
on call easy. ranging from 4 to per cent;
mercantile paper, 5@7l2. Sterling exchange
quiet but strong at $4.S5A for sixty-day
bills and S4.97I2 for demand. The stock
market to-day again demonstrated that
stocks are in strong hands and that the own
ers inte nd to hold them for materially higher
figures than are now ruling. There was
more business done. but the increased trad
ing was entirely for the account of the board
room traders who were scalping for small
profits, and the fact that stocks do not come
out under conditions which have always been
attended by declines shows conclusively
that securities are not held in the street
on margins. The features Of the day were
very few, and nothing in the news OF the Gay
seemed to have any effect whatever although
rumors were used to cover up operations
which had their beginning and ending in the
board room Union Pacific was the stock
which received most attention, and 1t was
quite active at advancing prices. the improve
ment being accompanied by vague rumors OF
something of favorable nature to come out
in the next few days The trading in the
stock ran up to over 2S, 600 shares, but its ex-
treme fiuctuation was only 7s OF l per cent
and its final gain only "a. Missouri Pacific
came next in importance. and it showed pos
tive weakness in the last hour OH the action
of the committee on securities In strlk-
ing from the list some Iron Mountain
stock which is owned by the Missouri Pa
cifc, and the affair was made the basis Tor
sharp attack which resulted in net decline
OF 7s per cent for the stock Pacific Mail
one ned down on reports that there was less
disposition among congressman to vote Tor
the subsidy bill, and also on the fact that the
bill will not be so much to the advantage OF
steamship lines as to American shipping in
general. Manhattan also fell back sharply
from it's high figure of yesterday on some sell
ling by house going out of business, and at
1OS12 it is 214 per cent lower than its best
price the other day. 1t is, In fact, the only
stock showing a material change to-day.
Sugar refineries was not so active to-day,
but there was mild manipulation
of its price which carried it up to
S. but it could not be held there, and it
finally closed at slight, loss for the day
Milwaukee, Lake Shore Western preferred
rose to ITO and dropped back again to log,
and Lake Erie & Western preferred failed to
move at all. though its regular dividend OF |
per cent was declared. The market rallied
slightly toward the close, (which was dull and
steady at small fractions under last nights
figures as a rule. Manhattan is down l "a per
cent but with the exceptions OF the few
stocks before mentioned the other changes
are insignificant. Railroad bonds were more
quiet to-day. and the total sales reached only
Sill, 900, with only one specially active
issue-Atchison incomes-which contrib
uted S237. 900. The tone of the deal
ings was less pronounced than on any
day this week. put IL Renamed nrIn Will rev
important changes. Chicago & East Illi-
nois consols rose to l16. and Ohio River
lists 7l2 to 1OO while the only loss of impOr-
tance was Green Bay incomes, 2 to %. Gov
ernmont bonds have been dull and steady.
State bonds have been dull and rather heavy.
The Post says: Compared with a week ago,
there was no change, except that Reading
is l34 lower and Chicago Gas is ia higher.
All the other usually active stocks are also
practically unchanged from a week ago,
except Rock Island and Burlington, which
are each L poiht lower. The character of
the market is phenomenal, i'll it continues SO
strong under circumstances which usually
result in lower prices. 1t shows that there
are none of the class of usual daily specu
lators in the market, or they would
have become tired out and thrown their
stocks over long ago. The stocks are evil
IDENTIFY held by strong people, and if they
have held them through the higher money
rates incidental to the first of this month,
they will hold them much more easily now
that the rates for money are declining The
total sales of stocks to-day were l16,464
shares, including: Atchison, 4,600; Della
ware, Lackawanna & Western, 10000; Mis-
souri, Pacific, 5000: Oregon Transconti-
mental, 5000: Reading 1870; st. Paul,
6,7OO; Union Pacific, 2S,750.