St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-17
FINANCIAL.
New York.

NEW YORK. June 16.-ClearlngS, ST.
594.024; balances, 81, 420,068 Money on
call easy at to ~ per cent; last loan,
4, closing offered at 4. Prime mercan-
tile paper, 1905. Sterling exchange
quiet but steady at $4.S5A for sixty day
bills. and s4.S7& for demand. The
stock market to-day was the most feat
change for months, and the dealings in
the stocks composing the regular list
present absolutely no occasion for COM
ment. The course of prices was scarcely
preceptible at any time of the day,
but there was slight dropping
tendency in the forenoon which gave
way to confident tone later. Specu
latOrs and even investors are still wait
ing upon congressional action in the
matter of silver bill, and until some
definite news is received which will in
dictate the final result stagnation is
likely to be the chief characteristic of
the dealings in stocks. The news of
the day in regard to the railroad situa-
ton was of slight Importance and had
no influence one way or the other, and
the small demand as well as the equally
limited offerings of stocks seemed
to be from the professional ele-
ment entirely. There was, as u.s.
udl OuCl CllOQiuoboANO03 oil
attempt by the bears. aided by the
room traders, to whom stagnation in
prices means little or no profits, to get
prices down in the early forenoon by
most transparent deal in Sugar Re-
fineries. but with the exception
of knocking the price of that stock off
about ~ per cent and the dropping
tendency shown in the regular list dur
ing the forenoon. there was no result
from the effort. Stop orders in Sugar
were placed in the market by the bear
ish spectators, and vigorous drive
was made at the stock at the opening to
reach these orders, which, of course,
was successful, and from SO the price
dropped within the first few minutes to
500. A quick rally to 80 followed, after
which the stock remained quiet to dull
at about s113. The object Of dislodglng
long stoc ks In the regular list was un-
accomplished, !, and ! the most .S intense
s snre was sess nSt ssae d was son the
selling of Oregon Transcontinental
after the issue of the address
to the stockholders, giving the scope of
the new deal and its prospects, which
broke It's price about l per cent, but the
rest OF the list for the whole day was
moribund. The close was very dull and
steady at about first prices. There was
no tendency in prices shown by the
/. final changes, which were irregular, but
for small fractions only, even Sugar
closing within small fraction of its
Saturdays prices after all the manipu-
Iation. The dealings in railroad bonds
were not so stagnant as those in stocks,
but there was dizziness aud no pro-
10, l,,, %Ior bot Snf
ss2s. 900, without active feature: Among
Southern lists rose 2 to So. Government
bonds have been dull and firm.
State bonds dull and feature
less. The Post says: "This cessa-
ton Of trading is not merely
lethargy; spectators have scarcely
been so wide awake and watchful for
year or two. But the great majority are
very much unsettled in their minds as
to what kind of silver bill will be
passed in congress this week, and still
more unsettled as to what will be its
effect OH the stock market. The gen.
eral conditions of business are favor
able to better prices for great many of
the low-priced dividend-paying stocks
and many of the low-priced prospective
dividend payers, because the remarka-
bly, good earnings of the roads in almost
every quarter of the United States are
making the dividends of the low
priced dividend-payers more certain,
and, therefore, bringing them as
investments more on level in
that respect with the high
priced dividend payers, which also
brings the prospective dividend prayers
nearer to the realization of what is ex-
pected for them. AS money becomes
more abundant (as now seems the tend
ency in all sthe financial centers) these
considerations will advance the prices
| of the low priced stocks, while they will
affect the high priced stocks only very
| slightly. If there were initiation of the
currency from SILVER legislation, the