St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-01-16
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FINANCIAL.
New York.

New YORK.. Jan. l5.-Clearings to-day.
SllT. S93. T5S; balances, 50, 660.975. Money
on call ranging from 1 to 5l2 per cent;
last loan 4 closed offered at Prime mer-
camille paper, 5A@7. Sterling exchange
guiet and steady al 81 "a for sixty-day bills
ana 81. $3.50 for demand. Inc STOCK market
to-day was dull, narrow and contracted, as
usual of late, b It there was better Cistribu-
ton of the business done, though the coal
stocks were still most prominent in the reg
ular list and Sugar among the trusts. The
tone of tie market. however, showed q vast
Improvement over that of the past few days
being firm to strong after the first half
hour. ana the days business re-
suited in marking higher prices for
almost everything Oh the list of active stocks.
The bears were early on hand this morning
with demonstration against the general list
which bad the appearance of hammering to
cover upon; but the result of the drive was
only fractional losses and the support given
Was such that the attack was soon diScOntin-
ued. There we're signs that the pressure was
to be changed from the coalers To the gran
gers, and some selling of st. Paul was done
upon story that the management had
charged a larger amount Of capital account
than IL should have done, and the insinua-
ton was made that had it not been for this
kind OF bookkeeping there would have been
little or nothing for the preferred stock.
The decline in st. Paul, however,
was measured by the smallest fractions
and the other grangerS were equally we'll
held. Chairman Walkers opinion upon the
Union Paciiic-Northwestern alliance was
again made to do duty against those stocks,
but North western scarcely moved at all. and
the success III Union Pacific was Oh the same
scale as that in ST. Paul. Sugar was firm
from the outset the traders being prominent
as buyers. After the first drive the market
settled down 70 dizziness and fiTmneSs, but
late in the Day, when the covering in the
coal stocks became noticeable, the upward
movement all around became more pro-
nOnnced, and material advances were scored
all over the list. The specialties were
less prominent for strength than usual
OF late. and Oregon Short Line was
still weak. being the only stock
to show material loss Mt the
close of business. The market finally closed
dull but strong, and generally at the best
prices Of the day, though in all but two cases
there were but fFactionally better than last
evenings figures. Short Line is down per
cent. but Sugar rose 2SS, and Manhattan 15s.
Railroad bonds were dull, the sales of al
issues being only S9S9,0O :, while the move
ments in the market were on a smaller scale
even than during the past few days The
only feature of the trading was the pro-
nnunced strength in Wisconsin Central in
comes, which rose from ia to 61. the other
changes being for Insignificant fractions.
The Post says: The disappointment has, for
the time being, turned the majority
of the board room spectators to the bear
side. and in the last few days the out
standing short interest, especially in the coal
stocks has been so greatly Increased that
sharp upward reaction is likely to come at
any lime. and this is more likely to happen
in Reading than in any other stock. even if
it goes much lower af erwards. The narrow
ness of the market is still the subject of m
ceasing comment on the part of those whose
business it is TO make profits out of wide
fluctuations caused by the manufacture of
disturbing Tumors and sudden, unexpected
and untayorahle developments. Govern
ment bonds have been dull and steady.
State bonds have been entirely neglected.
The total sales of stocks to-day were 3U4, S3
shares including: Atchison, 1850; Della
ware, Lackawanna g. Western, 1880;
cifc, 1850; Northern Pacific preferred,
3.555; Residing, ~ 920; St. Paul, Ill o;
Union Pacific, IS, 1870; Western Union, 6,270.