St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-28
FINANCIAL.
New Work.

New YORK, May 27.-Money on call
easy, ranging from to 5 per cent; last
loan, AZ; closed offered at AZ. Prime
mercantile paper, 5@7. Sterling ex-
change more active and strong at S4.S414
for siXty-day bills and 81. S614 for demand.
The total sales of stocks to-day were
391,016 shares, including: Atchison,
65,490; Canada Southern. 1850; Della
ware, Lackawanna q Western, $500;
Lake Shore, 1904; Michigan Central,
32S5; Missouri Pacific. $3.50; New York
Central. 2,460; Northern Pacific, $40;
Oregon TransContinental, $3.50: Read
ing, 6,S4O; Richmond & West Point,
1859; st. Paul, 4l,Ss0; Texas Pacific,
1920; Union Pacific, 6.570. The stock
market was dull during the forenoon to-
day, bat later became very active, with
a decidedly weak tone and the result of
the days operations is to leave almost
everything traded in lower than last
evening. The holidays in London and
the approaching holiday here with the
tendency to realization, has caused
hesitation in the market. and operators
for the most part are standing aside for
the moment, awaiting developments.
This condition has always been the OPP
portunity of the bears and when dull
ness intervenes, after marked rise,
raid is the usual consequence. The in
dustrial shares were not so prominent
in the trading to-day, especially after
the first hour, but nevertheless, Sugar
managed to roll up respectable total
of transactions, and its movements were
wide and important. The report that
Mr.. Gould had expressed the desire
to work in harmony with Atchl-
son resulted in some strength
in the forenoon, but it had little inf1u-
ence to advance either AtchisOn or Mis-
souri, Pacific, and the opening price of
the former was within Is per cent Of it's
best for the day. The features of the
forenoon were Oregon Transconti-
mental, ST. Paul, and afterwards New
England, for which there was good
demand developed, while the rest of
the list remained stagnant, with a firm
undertone. The strength in Oregon
Transcontinental comes principally
from uncertainty as to what is to De the
future of the property, with the general
impression that something very good is
to come out in the near future. Tele-
grams from Boston, to-day put the
which materially Influenced the
early buying. The failure of the
general list to advance not
withstanding the strength shown by
the leading stocks engendered reallZa-
tons in the afternoon, and the bears
Immediately Jumped in to take away
the market from the WOuld-be sellers,
and the whole list suffered, although
the VanderbiltS showed at the time
most marked strength, Lake Shore and
Michigan Central scoring advances of
over per cent each. At the top points
Sugar showed gain of ~, Transcon-
tinental and New England per cent,
but Atchison became the especial point
of attack. yielding readily, and the rest
of the list followed, the early gains IN
all the active stocks being entirely
wiped out before the close. while in the
others material losses were scored. No
further changes occurred and prices
steadily declined, the market finally
closing active and weak at the lowest
points of the day. The final
changes show losses for almost every
thing, and Atchison is down ~, Chi
cago Gas TX, Missouri Pacific, st. Paul
and Union Pacific rs per cent each, and
Mexican Central and Reading each
per cent. Railroad bonds also showed
more animation on rather heavy tone.
and the final changes this evening
show a fair proportion of material losses,
though the movements in the general
list we're small and insignificant. The
trading reached 81, 900, out of which
Atchison incomes furnished S299,000
and the Atlantic & Pacific incomes
S127, 1000. The active issues. however,
were weak, and Milwaukee, Lake
Shore & Western lists declined
2 % at 12O. Government bonds
have been dull and steady. State
bonds have been entirely neglected.
The Post says: The decline in prices
was caused by selling by the profession
al element, induced by the lower Lon
don prices and the fact that the re-
| mainder of the week will be broken by
a full holiday on Friday and half holt
| day on Saturday. The strength of Ore
| gon Transcontinental was due TO the an
nouncement made yesterday that the
plan of reorganization had been definite
ly decided, together with the favorable
outline of its character. The favorable
nature of the news from the West re-
| garding the formation of new associa-
| ton and an agreement to restore rates
was without effect on the granger stocks,
which were heavy on moderate pressure.
| The decline III the late trade was caused
by hammering by traders, together with
| realization of profits on the earlier adj
vance.