St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-23
FITZGERALD & SMITH,
COMMISSION MERCHANTS.
~ 324 jackson Street. Gilfillan Block.
GRAIN, PROVISIONS, STOCKS, COFFEE
AND COTTON.
wWIREs DIRECT.
FINANCIAL.
New York.

NEW YORK, Aug. %. = ClearingS,
Sis. 376, 113; balances, 81 $50, 800. Money
on call tight. ranging from to al per
Dent; last loan 3; closing offered at A.
Prime mercantile paper, 1907. Ster-
ling exchange quiet and firm at S4.S21a
for sixty-day bills, and s4.s6 for demand.
Liverpool spinnerS evinced DISPOSE
ton to buy cotton a little more freely
to-day. The future market, however,
still appears to be laboring under
difficulties. August created quite
a stampede among the outside the long
interest, owing to combination owing to
decline abroad. August has been sold
down to 1l.5Oc. Prompt reaction fol-
lowed, the closing being firm at 11.55c.
August closed higher than last evening.
In the stock market there was much eX-
citement. and a material reaction from
the depression was brought about
chiefly by covering of shorts and Lon
don purchases OH the prospect OF
easier money. Money easier throughout
the day and interest falling at the close
to per cent. The money question is
still the most important disturbing ele-
ment in Wall street. During the day
the subtreasury received about $4,000
GOO and the proceeds were put to good
use. relieving the stringency, and the
rate went idOwn steadily. Tie opening
of the market was very strong on the
expectation that something would be
done to-day. The general list was
steady. The demand for money was
still high, and the bears were disposed
to regard the prospects as still unprOmlS-
ing and sold the list off again fractional
amounts, though in few cases
where early losses were met by
advances, there was liberal covering.
however, and the room trades took
the long side again, and Lonk0n
aided in putting the market up on the
shorts by moderate purchases OF Its IA
vorites 'Theweak spot in the marketwa
Sugar RefnerieS, and fell away nearly
per cent, and failed to make good the
loss. although rallying Sharply III the
dav. The strike there was causing
hard things to be said, and it has now
been so thoroughly discussed that it has
ceased entirely to be factor in Wall
street. The improvement, when once
fairly started. made rapid progress. and
continued until late in the last hour,
when the gains over last nights figures
extended to about per cent Toward
the close some realiZatlons OF
profits accrued on the days adj
vance cansed slight reaction
figures. but the firm tone was
maintained, and the close was quiet
but firm at close to the best prices OF
the day. Canadian Pacific stands alone
tonight among the stocks OF the active
list in showing decline, and that is
only u per cent, but Chicago Gas. Bur-
lington and Reading are each up 1%;
Big -Four and Denver & Rio Grande
preferred II each: Atchison and
Northern Pacific preferred "a: Missouri
Pacific aud New England, each 10;
backawanna and Louisville d Nash
vile, l per cent each, aud others frac-
tional amounts. Silver was stronger
but less active, and closed NC higher.
Railroad bonds were also more quiet,
but displayed tirmer tone, and among
the active bonds advances are more
numerous than losses for the first, time
in over week. The sales reached
$79I 900. The Post says: "There is no
reason to doubt that the secretary's
offer to redeem the S2O,0O0,000 of
also to pay the whole interest
up to the maturity OF the bonds Sep
TENDER 1, 1891, will bring out the full
500, O0O, 900, and as a great part OF these
will come out of trust companies and
other vaults where the capital in them
has been kept for security rather than
interest, and has to a considerable eX-
tent been dormant, it will be all i'm
portant relief to the money market. In
case of any continued stringency the
secretary would also probably, after
September l, prepay the s23,000,0O0 of
one years interest on the 1898. 900, 900 of
outstanding 4 per cent bonds. For the
time being the course of the stock
market is governed almost entirely
by the aspects of the money market.
The strikes could scarcely be said to he
a factor in the market to-day" The
total sales of stocks to-day were 224,
S74 shares. including Atchison. Is, 765;
Delaware. Lackawanna & Western,
14,42O; Lake Shore, $40; Missouri Pa
cifie, ALSO; Oregon Transcontinental
receipts, 6,75O; Reading, 6.450: Rich
mond & West Point, 5,121; st. Paul,
1870: Texas Pacific, 4,l20; Union Pa
cific 10 Q7Q: WeStern IIniQn. Q7Q