St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-25
FINANCIAL.
New York.

New YORK. Oct. 24.-Clearings. SI27.46S.
324; balances, s., 450.973. Money on call
hrmer ranging from 10 8 per cent; last
loan, 3: closed offered Mt 3. Prime mercantile
paper. 6S4WS. Sterling exchange quiet and
barely STEADY at ST. IA for siXty-day bills
and Sl.S6 for demand. The continued
liquidation IN Sugar hefineries was again
most dlsqnietlnS fuctor i'll the stock market
to-day, but added 10 this was the higher rates
for money. the losses in earnings OH the st,
Paul and The dispatch asserting that the
Burlington. the Rock Island and the st. Paul
would give the Union Pacific no more through
business and would charge the last-named
full local rates on business originating at
points on its line. The weakness in silver
was also q considerable factor. but the ex-
element in Sugar Iiefineries was the over
shadowing element in the movements of
prices. The general expectation was that
the stock would reach still lower figures
to-day. and at the opening there was an un-
usually large crowd waiting TO execute or
ders and scene of unusual excitement fol-
lowed the tap OF the gavel The official
opening price was that of last evening, but
sales were made at several different prices AT
different points in the crowd, and as the
bulk OF the orders were 10 sell the price was
soon carried down from 6GSs to 64la
reaction followed the execution of the early
orders and G5la was reached, when the
professional bears took a hand i'll forced The
price off again and the downward movement
was not checked until 6lsS had been
touched. This is u loss of Ills per cent since
Wednesday evening and 1883 per cent since
Monday. There was what looked like an
organized effort to advance the stock at the
lowest price, however, and the traders MADE
rush TO cover their shorts. with the effect of
carrying the stock late in the afternoon be-
yond the opening figure of the day nearly lla
per cent, The general list was held com
paraIively steady during the forenoon but
the dispatch from Chicago in regard TO the
Union Pacific and the CHANGERS was
the signal for combined attack
upon The stocks of those roads, and
material losses were sustained by all
OF them. The vigorous rally in
Sugar, however, brought the regular list
along with it. especially as money rates were
easier later i'll the day, and i'll most of the
list The early losses were about recovered
Union Pacific alone proving sluggish. The
final trading was large, and strong tone
prevailed in all portions of the list the close
beng active and strong at about the level'of
the opening figures. The final changes of
the day show q majority of losses, but they
are generally confined to fractional amounts,
but Union Pacific is down lis. Sugar is
fractlonaliy higher, as is also Chicago Gas,
which -sympathized most closely with the
early drop IN Sugar. The trading in the
bond list was quiet. AS usual rejecting
none OF the animation in stocks, and
the tone of the dealing was
feature of note was the increased dealings in
the st. Paul issues. all at higher prices. The
general list showed the usual insignificant
changes. Government bonds have been
dull, but firm. State bonds have been dull
and featureless. The Post SAYS: 1.-The imne-
date cause of the decline in the price of sill
yer to-day was the liquidation OF some spec
ulative accounts by people who bought it
over month ago, and VINO expected that
the October purchases of the treasury
would cause a recovery to something ike
the high prices of August. The treasury
purchases, however, seemed to have no
power to control the price. The highest
price in October was Sl.14I4 on the first
Gay of the month, from which it steadily
sagged to Sl.u9 ON Wednesday, the
cd. The continued decline discouraged
the spectators in London, and while they
may not have unloaded much 1t has deferred
them from buying more. The demand for
India has also fallen off lately. SO that Lon
don has been no supporter to the price The
speculative accounts which have been Iiqu-
dated here to-day were, we understand.
comparatively small. andiwere mainly on the
consolidated stock exchange The effect ON
the price however, was tremendous consid-
ering the small amount thrown upon the
market sThe total sales of stocks to-day were
453, 2S4 shares including: Atchison, 1865;
Delaware, Lackawanna d Western, S.767;
Lake Shore, 3.9l6; Louisville d Nashville,
1850; Missouri Pacific. 4. IS: North Amer
lean, 1877: Northern Pacific preferred.
1850; Reading, l4.SOO; Richmond & West
Point. 4.4U5; st. Paul, 37,O6O; Union Pa
cifc 3I,275.