St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-03-01
BANK OF MINNESOTA.
Paid Up Capital. S60v,VVO.
Surplus. s1o0.o,9
VIM. Dawson, Pres. Robt. A. Smith. V,Pres
VIM. Dawson. Dr.. Cashier.
FINANCIAL,
New York;

NEW YORK, Feb. 2S.-Clearings, el15,-
39l,087; balances, $6,3l7,964. Money on
call tight. ranging from to 10 per cent;
last loan per cent. closing offered at 8.
Prime mercantile paper, 1906. Ster-
ling exchange quiet and weak at S4.8019
for sixty-day bills. and S4.S419 demand.
The stock market to-day was again dull
and narrow. with all the animation in
the few stocks which received attention
from the bears. The approach of the
first of the month as usual gave the
bears the opportunity to bid up money
rates upon necessary borrowers, as call
ing in of the money needed for the in
tefest and dividends payable on the first
necessitates shifting of loans.
This, to-day, was the bears CHIEF
reliance, and rates were made as
high as 10 per cent at one time,
though they held up well until the
close. the last loan being effected at 8
per cent. AS means for depressing
quotations. however. this was cOmpara-
lively failure. and only in few stocks
which are subject to influences peculiar
to themselves was any progress made
in the downward direction. The money
question is again, however. prominent
one. and the eyes of the street are
turned to Washington at present for
some indication of purpose to relieve
the stringency which, although not
pressing at present. keeps the market
within narrow limits. London prices
were again moderately higher this
morning. but this market failed to fol-
low. as the bears brought marked pres
sure to bear Immediately upon
Northern Pacific preferred, Union Pa
cific and the bituminouS coal stocks
as we'll as sugar retineries. and for
time the declines in those shares were
rapid and important. New England
came In for some attention at the same
quarter later in the day, but no impress
sion was made upon 1t, and it was soon
abandoned. The weak features of the
day were the bituminous coal shares,
and Tennessee went down to "a and
Colorado Coal to 4214, but while the lat
ter remained at near the lowest the
former rallied sharply late In the day
and mere than recovered the loss. The
support received yesterday was appar-
emily lacking in the early dealings,
but it came at last, and the upward
movement was equally as sharp as the
decline had been. Sugar was affected
by reports in regard to the Amer
lean sugar regnery in San Fran
cisco. and Boston was a liberal seller
but bought again late In the day. Union
Pacific was the only stock among the
usually active shares which showed any
real weakness. but the foreigners were
buyers and held it up within fraction
of its first price. The strong point in
the list was the Wheeling 81 Lake
Erie preferred, which mounted from
6716 to 695S upon the announcement
that the eompany's contracts for coal
are 800 per cent larger than up to the
same time last year. There was gem
orally better tone to the market in the
afternoon, but no material improve
ment was made and the close was dull
and steady, generally at shade under
the opening figures. The final changes
show a majority of declines, but the
only important ones were Oregon Short
line 2I and Colorado Coal ~, while
Wheeling d Lake Erie preferred rose IL.
Railroad bonds were again dull, the
sales of all issues reaching only 1868, 900.
There we've few issues traded in and
the final changes Of Importance were
few in number. Government bonds
have been dull and heavy. State
bonds have been entirely neg
lected. The Post says: Had 1t