St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-19
FITZGERALD & SMITH,
COMMISSION MERCHANTS,
1924 jackson Street. Gilfllan Block
GRAIN, PROVISIONS, STOCKS, COFFEE
AND CoTToN.
wWIRES DIRECT.
FINANCIAL.
New York

NEW YORK, Aug. II. = Clearings,
SOS, 3S9. 45S; balances, S3,36S, 45S. Money
on call tight, ranging from to Is per
cent, last loan 6, closed offered at 6.
Prime mercantile paper, 51a@7, Ster-
ling exchange was quiet at 81 .S3M for
siXty-day bills, and s4.s7% for demand.
The money question is again more than
ever the principal element in the max
ing of prices in the stock market, and
the unexpected wiping out OF the legal
reserves of the banks by some mex
plicable drain to the interior last week,
has put an end to the slow but steady
improvement which continued through
out last week, in spite OF the high rates
for money. together with other disturb
ing causes. The sanguine bulls main
tain that there is no likelihood of a
continuance of this drain and no fear
whatever of a stringent money market
this fall, although that it will be close
work no one denies, and the Oppor-
tunities for manipulation will likely
arise from time to time. Considerable
disappointment is expressed over the
failure of the treasury department to
make some new arrangement whereby
more money may be gotten out of the
treasury. but hope still remains that for
political reasons, if no other, there will
be some move looking to that end in the
near future. The temperance OF the
strike on the New York Central was
also a factor in the situation this morn
ing, and notwithstanding the confidence
shown by London, where prices were
all fractionally higher than our prices
of Saturday, the opening OF the market
was marked by small losses In
almost all the active stocks,
further
depression during the day, though in
few cases were the net declines of
special Importance. Silver was higher
ia London and the speculation in the
certificates here again assumed large
proportions and the price was pushed
up rapidly, lacking now less than 10
cents of a parity with gold. This
acted somewhat as sustaining lnflu-
ence upon the railroad list, but the de-
clineiln prices was steady though slow
throughout nearly the entire session.
The grangers received the most atten-
ton, with the coal stocks and Louisville
& Nashville in close attendance. There
was very little special feature to the
dealings at any time and the trading
calls for little comment. Railroad
earnings in to-day for the second
week. in August continue to be
very Satisfactorily, euo io1O VI III
crease over the CORES pondlng week
Of last year being, Toledo & Ohio Cen
trail, 4: Evansville q Terre Haute, 10;
Toledo, Ann Arbor and North Michi-
gan, 241a; Louisville, Evansville q st.
Louis, 80; and Wheeling & Lake Erie,
40, The market, under the strength
shown by silver, rallied slightly in the
last hour, and the close was firm at the
Slight Improvement, though still close
to the lowest prices of the day. The
final losses of Importance were Denver
& Rio Grande preferred, ~; North
western, 15s; Canada Pacific and Can
ada Southern. Is each, Lake Shore.
IL; Chicago Gas. Rock Island, Northern
Pacific preferred and Western Union,
per cent each. and others fractional
amounts. Railroad bonds were dull
and without feature of Importance. The
sales reached only $3.50, 800. The tone
was closely in sympathy with
that in stocks, but no material
movement could be detected in any
portion of the list. Government bonds
have been dull uDd steady. State bonds
have been entirely neglected. The Post
says; 1t is plain that while the steady