St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-02-10
FINANCIAL
New York.

NEW YORK. Feb. s-Clearings. $780,
4S9,olO: balances, S., $50. l6O. For the
week: Clearings, 1914, l46, 1877; balances.
with no loans, closing offered at per cent
Prime mercantile paper 4a4GD6l2. Sterling
exchange quiet and steady at S4.S34 for
siXty-day bills and S4.S7A for demand. The
stock market 10 day was, as usual OF late,
narrow and dull for the general list, while a
few stocks monopolized ali the interest taken
in the speculation. The great tone of the
market was strong and even buoyant until
the issue of the bank statement. which. with
its unexpected loss of over S4,r0u, 900 in the
surplus reserve, induced the bears to try their
hand once again at an attack upon
the market. The heavy loss in the reserve
is attributed in part TO complications arising
from the recent failures of three banks.
though the effect of these troubles have all
developed by this time and passed away as
adverse influences upon the course of prices.
The bears, who have been roughly handled
of late in Louisville Nashville, Reading
and Lackaw9nna, were not aggressive, and
the losses occasioned by their demonstra-
ton were small in every case but one. Lack
awanna, Rock Island, Missouri Pacific. hich
mond & West Point and Sugar refneries
were the strong points in the market though
the final raid carried away most of the gains
in all. except the last named stock, on which,
as well as lead, the talk was quite
bullish, though lead failed to respond.
The events Of the past two or three
days have turned number of operators on
the street from the bear to the bull side of
the coal stocks, and rumors of the coming
settlement of matters important to the trade
are circulated. The market finally closed
rather heavy on the raid and at small frac-
tons below last nights closing figures as
rule. Sugar, however, was up 11sc, but Jer
sey Central was down Use. Railroad bonds
we're fairly active. the sales of all issues for
the two hours session being $S39,00 :,
though the Reading sd incomes furnished
$4,000 TO this amount They were the
only special feature in the market and kept
pace with the stock in its decline, losing
something in addition. Tonight it is
"a per cent lower. Atlantic q Pacific
4s rose 414 to 7514; Jersey Central convert
ibles, 3I2 TO 12S and Reading convertible
The week aggregated Ss, O5e, 900. against
SIS, S23.O00 for last week. The Post says:
The general aspects of railroad business as
shown by the earnings, are so good that there
is strong disposition to speculate for higher
prices. but the market is still so narrow, that
is, there are So few persons outside OF the
daily traders who are doing anything in
stock speculations, that the good earnings
have but little effect on prices Of stocks.
There is, however, large increase in the in
vestments in railroad bonds, as is shown
by the facts that in the last week there
was a general advance of "a to 3A
per cent in all the leading active railroad
bonds, and the total sales of bonds in the six
business days up to last night were total Of
S9,9l9."O0, of which 81, 16l 900 were on
Thursday and FriLSy. To some extent this
increased investment in bonds is diversion
of investment and speculation from stocks.
The aspects Of the money market, both here
and in London, are likely to be an unfavor-
able element in the stock speculation next
week. Government bonds have been dull
and steady. State bonds have been entirely
neglected. The exports of specie from the
port of New York last week amounted to
1851 $40, Of which 5000 was in gold and
S34S,91O in silver. OF the total ex-
ports s1,400 In gold and S342,30O in
silver, went to Europe, and Sl.72o
in gold and S36l0 in silver went to South
America. The imports OF specie at the port
Of New York last week amounted to $685.
S27. Of which $40, SiS was gold and 2s.009
silver. The total sales of stocks to-day were
l30,617 shares. including: AtchisoD, 1915 ;
Delaware, Lackawsnna & Western, %, $40:
Louisville d Nashville. 3.16U: Missouri Pa-
cific, 4,516; Reading, II, $50: st. Paul.4,6 !;
Richmond Wes: Point, $3.50; Union Pa
cific, 1900.