St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-04-02
NO DEMAND FOR STOCKS.
A Most Intensely Dull Market Firms
Up Considerable at the
Close.
Spectators Now Turn Their Atten-
ton to the Foreign Stu
alton. {
Financial Operations Of the Money
Kinas--.The General Quota
tons.

to-day, Sill, sol ,222, balances, 1885,, $40.
Money on call easy, ranging from 4 to E
per cent; last loan at 4; closed offered
at 4. Prime mercantile paper, 5@7.
Sterling exchange quiet and steady at
$4.s3s4 for siXty-day bills, and s4.S6115
for demand. The stock market to-day
was again most intensely dull, the
transactions in listed stocks being,
slightly smaller than those of yester
day, while those in the unlisted depart
ment showed slight increase owing to
the greater interest taken in sugar.
The market, however, could scarcely be
called market at any time Of the day,
though there was gratifying improve
ment in the tone of the dealings
and marked firmness was shown
both in the first hour and
to ward the close. Neither side
of the two factions in the market
showed any disposition to trade, and,
Notwithstanding that there still exists a
large short interest caused by the sell
ing of stocks during the past month in
anticipation of a stringency i'll money
toward the 1st of April, there was no
attempt to cover. To-day money did
loan little closer, and as high as 6
per cent was obtained for loans, but the
state at the close was down to again.
A higher rate was only temporary. and
the probability is that materially
easier tone will be shown tomorrow.
There was little in the market in the
way of features, but the SO-called active
stocks were extremely dull, and there
was no full stocks, except in Sugar, in
which the sales reached 5000 shares.
Some strength was shown in Missouri
Pacific and that stock has now re-
gained its dividend, but it's movements,
as was true of all the other prominent
shares, were confined to the smallest
fractions. The only movements OF i'm
portanee were, as usual, i'll the special
ties, and Peoria, Decatur & Evansville
developed strength late in the day, ris-
ing to % from 81. Tennessee Coal, on
an extremely light business, scored
nearly as large gain. Among the
strong stocks OF the day were Lacka-
wanna, Wheeling d Lake Erie, Lake
Shore and Reading, The close was
dull, but firm to strong at the best
higher than those of the opening. AL
most everything is slightly higher than
last evening, and Peoria, Decatur d
Evansville rose 2 and Tennessee
Coal "a. Railroad bonds were com
paratively active, the sales of
all issues aggregating S1,O17,00O, though
this amount was very evenly divided.
The market displayed firmer tone in
sympathy with stocks, and most of the
final changes are advances. Evansville
and Terre Haute firsts rose 2 to 100;
Mobile and Ohio SKIES to 116: Peoria,
Decatur & Evansville frsts 2 to 102.
Government bonds have been dull and
steady to firm. State bonds have been
dull and steady. The Post says: sin
regard to the course of prices during
this month. Of course great deal will
depend on the temper of speculation in
London, and that will to large extent
be Influenced by the aspects of political
affairs in Germany. In the absence of
any news having an immediate refer
ence to the business of the rail-
roads, spectators are now turn
ing their attention to the for
eign situation, and it is not improbable
will from time to time find something
in it which which will bear eXaggera-.
ton enough to affect the stock market.
But for the present London operators
are more disposed to buy than sell
American stocks. Speculation III any
kind of securities is very dull in Lon
uOJ dG JIGS6Hts UuG IuOifcy ID SIOWlHS
very abundant there. This larger sup
ply of money will almost certainly re-
vive speculation. Notwithstanding the
extraordinary dullness of business OH
the stock exchange during the whole of
March, it will doubtless surprise good
many to find that there was pretty
general advance in prices throughout
the month. The adviceS also were
large, while the declines were small ,eX
cept Oil very few. There has been so
little speculation in the usual ac
ceptance of that term. on the stock eX-
change, that this advance of prices
must have been caused exclusively by
what is called ''investInent buying"
viz, buying by people who have the
capital to pay for the stocks and put
them away until there is much higher
range of prices. This has left compare
lively few stocks on the market, and
makes spectators cautious about sell
ING them short So far as can now be
foreSeen there is nothing that is likely
to induce the investors TO sell their
stocks at present prices. Activity is
more likely to return only when the
public begin to realize that there is an
investment demand for securities. The
total sales of stocks to-day were 6S, 143
shares. including: Atchison, $3.50;
Delaware, Lackawanna q Western,
4,S7O; Missouri Pacific, 4,205; Reading.
1900; Richmond & West Point, 5000;
st. Paul, 3,l00.