St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-26
FINANCIAL.
New York.

New YORK, June 25.-Clearings,
s1O5.5S2, 27S; balances, S.. $751; 5l. Money
on cali easy at 8 10 4 per cent. last loan
8, closed offered at 2. Prime mercantile
paper, 5@7. Sterling exchange quiet
and easier at $4.041a for siXty-day bills
and S4.SS for demand. The street is
still awaiting developments i'll the mat
ter of the silver bill, the railroad diff
ficulty and the sugar trust middle. but
in the absence OF any special bear pres
sure, quotations follow their natural
bent and slowly appreciate, notwitf
standing the most intense dizziness.
exhausted themselves. and still the
money market maintains condi-
ton of marked ease, and while
all the conditions of business,
both for the railroads and
all other lines are most favorable. the
general disposition is to wait the events
of the near future. To-day the excite
ment in sugar reineries Gained down.
and the dealings in the stock were
brought down to very ordinary proper
tons, especially after the early liquida-
ton of long accounts had been COM
pleted, that operation carried its price
down to 60. but it already touched that
figure during The past week. Decline
when the decisions not to have been
material. The feature of the day was
the activity and strength in Reading,
which once more took the lead of the
regular list and rose to Al, against 44Sl
last night The buying is understood
to he for the account of the people
who succeed Mr.. Corbin and bis
party in the stock, and who
are the people who were very promi-
nent in the reorganization of Richmond
& West Point some years ago, 5000
share were bought for the account of
one of the leaders, and the price rose
above the limit, which checked the
activity and the advance. Chicago Gas
was dull aud stagnant to-day, with the
remainder of the list and even the spe-
ciaIties which usually furnish one or
two sharp movements, even in the dull
ness. were without feature of interest.
st. Paul on the buying of the Western
operators was comparatively prominent
in the market, but its fluctuations were
confined to the smallest limits. The
action of the sales agents of the coal
companies had its influence upon the
coalers, and the Vanderbilts were'
in the buying. Good buying
of Atchison made it a prime favorite in
the last hour and a rise of nearly per
cent followed, but there were no
features in the rest of the list and dull
ness and stagnatiOn were the rule. The
close Was quiet and firm to strong,
generally at about the best of the day.
The final changes were almost all for
small fractions, but while Reading is up
24 and Atchison 111s, Sugar is down 21s.
The railroad bond market was dull as
that in stocks, and like the stock market
showed more material changes in quo
ment in Reading extended to the junior
They were the only features in the mar
ket, however. Notwithstanding that other
marked changes occurred. Memphis
and Charleston firstS rose to 108. The
losses were Louisville & Nashville
Cecelan Is. 81 at LOG: San Antonio Il
Aranzas Pass 1855 at S61a. Govern
ment bonds dull and steady. State
bonds have been quiet and steady. The
Post, referring to the movement in
Reading, says: "ThiS is merely mark
ing up of the price by the pool which
controls Reading. and was done in con-
sequence of the proposed advance of
1Oc per ton to be made after July l in
the price of coal. There is nothing
special in the condition OF the coal
trade to warrant the advance in price,
as is shown by the fact that the COM
panies, while voting yesterday to adj
vance the price of coal, also voted to re-
strict the output to 3.250,000 tons in
July of this year, against 3,627.522 tons
in the same month last year. There
were probably no shorts in Read
ing to be squeezed by the advance in
the stock. because the pool some months
ago demonstrated their ability and
their determination to keep the price OF
Reading stock up as high or higher than
the SIS, 5S7, pa third preference incomes.
which come ahead OF the $50. 4S0,362 Of
the stock. The last sale of the third
preference incomes was 431a yesterday
when the stock was As. This makes it
plain that IS or 46 Is an absurd price
for the stock, but the bears have been
pretty we'll scared out from selling it
Short" The total sales of stocks to-day
were l63,740 shares. including: Atch-
ison, $3.50; Delaware, Lackawanna &
Western, 8,O56; Louisville & Nashville,
$500: Michigan Central. 200; Oregon
Transcontinental, $500; Reading. 3d.
$50; Richmond g. West Point, 4,130;
st. Paul, 10000.