St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-09-12
FINANCIAL.
New York.

New YORK, Sept. 11.-Money on call tight
ranging from 90 to per cent, last loan 6,
closed offered at 6. Prime mercantile paper
7@9. Sterling exchange active and heavy
at "a. SIN for sixty-day bills and $4.34s4 for
demand. The total sales of stocks to-day
were 340,57o shares including: Atchison,
1855; D., L. d W., 11.7S0; Louisville d
Nashville, 1920. The stock market was IN
was sustained at the expense of vaiues in
most portions OF the list and material losses
were suffered in all the active cases.
There was to-day an undoubted full
liquidation of small marginal accounts for
which the only lnducement was the
scarcity and high rates exacted for money,
and the shifting of loans, occasioned by the
calling in of money loaned at lower rates,
brought considerable long stock on the
market. At the same time the bears were
again very prominent in getting prices down
and made special point of the poor showing
of the government crop report, and the
granger stocks suffered to market, but not
more than other stocks which are not af-
fected to such an extent by the scarcity of
corn and wheat to haul. The money market
was undoubtedly great disappointment to
the smaller bulls at least, and the rate on
call having gotten up to per cent
Ing all the efforts. of the treas
the liquidation became general. The pres
entation Of bouds at the subtreasury for pre-
-terest being paid upon S25 100000 regis
tered bonds. while $4,000 was paid on
coupons ana S241 900 4l2 per cents were
redeemed. This late in the day again re-
stored something like confidence, but it
failed to cause a rally of anything like the
proportions of the previous decline The
early London quotations were all lower and
our market responded with declines of from
y to g per cent at the opening. After IL
O'Clock special attention was given Chicago
Gas and Sugar Refneries, and each of them
was quickly let off per cent on extremely
large. transactions. The recent sup
posed arrangement between the city
authorities and the company was denied and
the opposition which would furnish gas at
30 cents per 1000 feet are said to be ready
for business. At the same time the manipu-
lation of both these properties was most ap-
parent but the rapid declines had their effect
upon the rest of the market. and everything
fell away rapidly. reaching the lowest points
toward 2 p. m. The extreme activity then
died away, and prices recovered slowly. The
leaders rose about 1la per ce Mt, while the
tional amounts only. North American was
one of the features, and with the two other
stocks mentioned was ratified off 3 per cent,
rallying only fraction. The declines how
bears being most impartial in their favors
The market finally closed quiet and
fairly steady, but at only slight improve
ment over the lowest prices of the. day.
Sugar Retineries, SIS; Chicago Gas, 4S4:
North American. 25s; New England, 2; Sill
yer Certificates, IA; Big Four, Northern Pa
cifc preferred and Pacific Mail, las each;
st. Paul. Ia; Louisville & Nashville, Lake
Shore and Lead Trust each lis, and Missouri
Pacific and Canada Southern each l per
cent. Railroad bonds were rather weak
The dealings. while they extended TO S743,-
900, showed no feature of interest. Among
the most important changes Chesapeake &
Ohio, Richmond and Allegheny firsts lost 2
at 90, Mobile and Ohio tours / I2 at 63lb;
Western Pacific. at Ill; Texas Pacific,
at 3Sl5; Reading fours, 1 at 81; Mutual
Union skies. I at 1,Q4i Tennessee Coal,