St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-01-21
FINANCIAL.
New York.

NEW YORK, Jan 2O.-Clearings S771l2.-
513; balances S4.75l.6 26 Money on call
easy, ranging from 3 TO > per cent: last loan
3, closed offered at per cent Prime mer-
camille paper, BOZ. Sterling exchange quiet
and steady at S4.92 for sixty-day bills, and
81. S6A for demand. The stock market
to-day presented the same professional char
acter that IL has for the past two weeks while
the general apathy OF the general public was
as marked as usual, the few active leaders
Icing again ranged upon the side of lower
figures. The firm undertone presented by
the market, however, with the tenacity of
holders OF securities, prevented any ex-
tended operations, and dullness was only
more the ruling feature of the dealings.
owing to the drop in sugar refineries
in Boston after the close of this market on
Saturday, that stock was made the largest for
the bears III the early dealings with some
effect, but later transactions saw a complete
recovery of the losses sustained, the other
trusts following, though Cotton Oil because
Of the fact hat there has been no dividend
declared upon the Southern Cotton OIL, was
sluggish in the reaction. the inference being
that the business of the company is not quite
satisfactory. The rumors and surmises IN re-
gard to the interstate association, with some
selling OF the Changers for Chicago account
made those shares heavy during most of the
day, st. Paul. Rock Island and Bur
lington & Quincy being the most no
uceable, though the last named was dull
and moved over an extremely narrow
TduSts MlSSOuEi GdC10C was the leading O.
tive stock in the regular list and though
heavy at first, later spurted up sharply and
scored material advance for the dav. The
large purchases of The stock were feature
OF the day, ana rumors of large increase in
the earnings for the second week in Janu-
airy helped the Improvement. As usual of
late, however. the most important move.
ments were among the speciallies. and most
conspicuous among these was Wheeling IL
Lake Erie preferred and Lake Erie q ~ est
ern preferred, the latter squirting I'D over l
per cent in the last hour of business. The
market developed marked covering move
mcnt toward the close, and the close was
quiet but firm generally at the best
prices. The final changes are al
most invariably in The direction
OF higher figures and Lake Erie and Western
preferred is up So, and Missouri Pacific IA.
Railroad bonds were fairly active TODAY
but few issues were specially prominent,
while the general list was quiet within mar
row limits. and out of total of 81, rs. OOD
Chesapeake d Ohio 5s contributed SIG, 900;
S10O.00O. The Milwaukee,, Lake Shore &
Western IS were also prominent for activity
but failed to move, materially. The tone Of
the dealings in general was firm. and most
issues are fractionally higher than Saturday.
Manitoba Is rose to 1872; Mobile q Ohio
4s to 90. The Post says: The coal
stocks were heavy throughout the
forenoon, The weather is so unfa-
vorable for the coal trade that II has
prices of these stocks, but the OUTSTANDING
short interest in them, particularly in Lacka.
wanna and Reading, is so large that it helps
to sustain them. and any slight favorable
turn i'll the affairs of the coal trade would re-.
suit in rush TO cover shorts and conse-
quent upward turn of from / to 8 points
But If the present weather continues and the
coal companies get into Quarrel as the re-
suit of the Readings necessities for money.
and its consequent more aggressive policy in
the coal trade, the shorts may yet be able to
cover at lower prices. The grangers. as a
group were down more than the coal stocks.
because the disposition of the Union PACT
fc-Northwestern alliance has created
the impression that it may cause
some trouble among the Western roads
especially as the officials of the two systems
so far as they have expressed themselves, ap-
pear determined TO adhere 10 their alliance
though al the same time are deslrous of not
enforcing it SO rlgidly as TO come into open
conflict with their interstate railway associa-
ton pledges. Quite a large short interest
was created in Union Pacific last week on