St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-02
FINANCIAL.
New York.

New YORK, May 1.-Clearings to-day were
S153,629, 500; balances, S5,971 $50. Money
on call close, ranging from 4l2 to per
cent; last loan q; closed offered at 6.
Prime mercantile paper 5@7. Sterling ex-
change quiet and weak at ST.. 94l2 tor CO.
day bills and 50. S4s4 for demand. The stock
market was again active and strong to-day,
and the tone of the dealings was more pro-
nounced that at any time during the present
rise, especially in the Vanderbilts and grang-
ers. together, with specialties The reaction
toward the close of yesterday, and the pros
pect of trouble over the labor
demonstrations was made the basis
for an attack at the opening
by the bears and sold-out bulls were looking
FOR reaction of sufficient magnitude to en-
able them TO get in again with some prospect
of another prof on the long side. The fact
that to-day is a holiday in London, and there
was no market which might act as sustain
ing influence upon ours was also all induce
ment to Try the hammering process. but the
adVlces from the other side showed that eV-
erything was passing Off without disturb
ance of any kind, and the sellers of yester
day came in as buyers, and the rally was SO
sudden and sharp that there was no time TO
recoup at anything like the figures of the
opening. The demonstration against values
gave the market an unsettled appearance
at the opening and most of the active
shares were slightly lower than Taste ven
Ing, but before trading had been in progress
I'VE ulluul6S Jlle uldrket HHu utfClOpGu IL
strong tone that was unmlstakable and the
bears Soop withdrew. News from the West
upon the railroad situation was all of an en-
couIaging nature and the grangers early be-
came the leaders IN the upward movement.
Rock Island and ST. Paul leading off fol-
lowed by Atchison, Northwestern and Chi
cago Gas There were rumoTs of many
kinds,Smostly of Il bearish tenor. but that sort
of talk is now at discount and no attention
is paid tn them whatever. Later in the day
the Vauderbilts took up the upward march
and all OF that group made sharp advances,
even the New York Central showing gain
of per cent at its best figure. The entrance
of President Marvin Hughitt, of the
Northwestern, into the Union Pacific direc-
tory stimulated both of those properties
the late trading. The unlisted department
was rather quiet, but Sugar Refnerles was
active! as usual and made a handsome adj
vance, closing at its top figure The closer
working of the money market toward the
close of the day, due entirely TO the pay
ments. incident to the first of the month,
caused some swelling by the trading ele-
ment, and prices were again inclined to sag
toward delivery hour, but the buying at the
concessions again assumed large pro-
portions, and the market closed active and
strong at about the best figures reached.
Among the specialties which attracted most
attention by reason OF the strength displayed
wereOregon ShortLipe, FlintSPere Marquette
and san Francisco preferred. st. Paul,
Union Pacific, Sugar and Atchison were the
leading active shares. The entire list is
higher this evening, and Flint & Pere Mar
quette is up to u.s. San Francisco preferred,
275; Burlington ana Big Four each LIZ,
Short Line, Pacific Mail, Lake Shore and Chi
1l2, Union Pacific, ST. Paul and Colorado
Coal each l lS, and Rock Island and Canada
Southern each per cent. Railroad bonds
were still active and strong, with the Atchi-
son issues, Texas Pacific DDS and Atlantic &
Pacific Is most prominent in the dealings;
but the upward movement was not SO pro-
nounced as usual of late, and the important
gains are lower in number. The sales reached
$2,0s4, 600. Government bonds have
been dull and steady. State bonds
The Post says: The average rise in the prices
of stocks since April I has been just about
per cent. Out of 12i stocks, given Ill the
table of prices for the month, 2 show de-
crease of per cent or more. 1t Is noticeable,
however, that the stocks which have adj
vanced the most are those which in many
instances have had the poorest prospects for
business, notably the coal stocks, which
have not had so bad year for their especial
business in half dozen Delaware d Hud-
son is up IA points, Rochester & Pittsburg 10,
and Lackawapna 8. After these the most
conspicuous are st. Paul common
and preferred. Denver d Rio Grande
preferred, Rio Grande Western pre-
IerreO, Northern racine preferred. anu
Louisville & Nashville, all of which are up
from 6 to 8 1ints. Aside from those above
mentioned the general rise in prices for the
month has been nothing more remarkable
than might have been expected as the
natural upward reaction from the long stag-
nation and consequent depression which
continued the first three months of the year
as the effect of apprehensions of tight
money. The greater part of this upward re-
action would have come sooner or later with
out any talk OF silver legislation. because
stocks had been depressed, and yet
the general prospects Of the rail
road business had been steadily improving
for three months. Whatever effect actual
silver legislation may have on the prices of
stocks is yet to come. The total sales of
stocks to-day were sos, 800 shares, including:
Atchison. 2O,995: Delaware, Lackawanna
& Western. ll.47o: Lake Shore. 1920:
Louisville & Nashville, Il, 900; Missouri Pa
cific, 1880; Northwestern, 6.261 Northern
Pacific preferred. 1000; oregon Trans
continental: 6,46D; Reading. $3.50; Rich
mond d West Point, IL, 26O; st. Paul,
So, 635; Texas Pacific, $3.50; Union Pa
cifc 28,O15: Western Union, 6,318; Canaoa
Coutharn 1SS