St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-29
FINANCIAL.
New York.

New YORK, Oct. 2S.-Bank clearings, S16S,.
495,975; balances, S~6,313,54l. Money on
call easy: ranging from 4 to 6 per cent; last
loan 40: closed offered at ). Prime mer-
camille paper G0S. Sterling exchange quiet
and steady at S4.el for sixty-day bills and
Si.s5l2 for demand. There was very little
stock market to-day outside of the few
leaders, but the transactions in them, while
not as large as usual of late, rolled up a re-
spectacle volume of business at almost stead
lily declining prices. Sugar was again the
leader, and while there was q disposition to
await deyelopmenls on the part of the ma
took. advantages of such a situa-
ton TO hammer the stock down.. There
was no let-up on the stock from opening to
close, and while the decline resulting was not
SO large as last week it served to give a
dropping tendency to the general list. The
street was full of the story that the Union
Pacific was the aggressor in the new diff
Guilty in the West The fact that the presi-
dent and the general traffic manager were to
meet the officials of the other granger roads
to try to fix up the existing difficulties was
entirely ignored, as wal all the news of the
day, which was generally of q favorable
nature. The stock was knocked off Dig per
cent, however, and on the way down the evil
dences of Il heavy covering of shorts accu-
mulated. The stock i'll common with the
rest of the active shares, however, dis
played no recuperative power and
the final prices in all are close to the lowest
tAAhO vi
Louisville and Chicago Gas, were prominent
in the dealings, but only the last-named SYM
pathlzed with the downward movement to
any marked extent. There were a few strong
spots III the list. but they were all in the in
active specialties. The market was extremely.
duh after the bulk of the hammering was,
over. and closed heavy at about the lowest
prices reached. The strength in silver certi-
ficates was one of the sustaining influences
late in the day. and they closed 2 per cent
higher. The final changes in the regular list
are all for small fractions, and, with a few
exceptions, are all in the direction of
112 and Union Pacific is down 2Is.
The railroad bond market was dull, the sales
of all issues reaching only SS10,O 900, and the
majority of the bonds traded in showed q
heavy tone, with the usual slight changes.
The losses were more numerous than usual
of late, however. ana Union Pacific 4las lost
3 at n; Wisconsin Central incomes, 2 at
44l2. Government bonds have been dull
without feature. The Post, speaking of the
speculation in sugar trust. says: 1.-The street
is still full of rumors about a statement that
will soon be made by the trustees showing
that the plant is worth S25, 900, 100 and the
quick assets 81 ,0o0. 000, or $50. 600, 600 in
all, being ~ per cent of the capital, 500
OOO,0 But as yet there is no author
ity whatever given for any Of these figures,
and ON the other hand, it was the common
understanding months ago that the certifi-
Gates were issued to the owners of the va
rious refineries which went into the trust at
the rate of $3.50 for 81 of the estimnted
value of the refineries, which would make
the total estimated value of the plant, say
Sl6,0O0,U 900 or Sl7. 00o, 900. The difference
between $4,000, 600 and $500 900 is so
great that, without any knowledge as to
which Is the nearest TO correct, it is absurd
that anybody shouid deal in it. especially
when there are others who do know what il
is worth, but do not tell. The total sales of
stocks to-day were 26O, COZ shares, including:
Atchison, 1860; Delaware. Lackawanna 4
Western, 6,220; Louisville & Nashville, 49,
545; North American. 6,710; Reading,4. S25;
Richmond & West Point, 5000; st. Paul,
1890. Union Pacific, 1850; Western
Union, $3.50.