St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-07-18
DrR.E-noR.S
FINANCIAL.
New York.

NEW YORK. July 17.-Clearings, $780,
319. $3.50; balances, 81, TBS, 5S3. Money on
call easy, ranging from to ~ per
cent; last loan at3111; closed offered at
81. Prime mercantile paper, 5@7. Ster-
ling exchange dull but steady at $4.84I
for sixty day bills and $4.88I for de-
mand. The situation in Wall street
still remains unchanged, and the prin-
cipal features of the market are still
dullness and stagnation. The dealings
In the regular list in the stock market
to-day presented absolutely no feature
of interest beyond the continuance of
the rise in Pacific Mail, which has been
started by the passage of the
Shipping bills. The movement was
spasmodic, but the improvement made
was retained, and the next lift will start
from the higher level. The dividend
upon Denver & Rio Grande preferred
seems to have done its work. as that
stock this morning was off l per cent
from its last evenings price. and only
portion of the loss was recovered. Sugar
refineries was again the great feature
of the day, but the movement was
downward in the forenOOn,- Though re-
covering later in the day. The move
ment in measure gave tone to the gen.
eral list, and while the movements we're
insignificant, heaviness marked the
transactions of the forenoon, but firm
er market was seen later in the day. In
addition to Pacific Mail and Rock ISL
and, Lackawanna was strong feature,
but its fluctuations were slight. In
the face of the dullness of
speculation, dizziness mainly caused
by the oppressive heat, comes cOntin-
uance of the good showing OF the rail
road earnings. In default OF specula-
ton, operators discuss the probable
argue that it will be of great benefit,
not only to Wall street, but to the bust
ness of the whole country. They say
that the addition to our circulation will
encourage new enterprises, and lead to
greater acJivityin business circles-this
fall. The improvement will begin to be
felt early in August. They rest their
faith on the reduction in sterling ex-
change. the passage of the silver bill,
tine advancement of rates, and the
appearance of rain in the corn
belt, where there has been great
,drouth. No improvement in specu-
elation may be looked for in
New York, while the present heat con-
tinues. The engagement of $500, 200
gold for export was made the occasion
of a raid by the bears in the last few
minutes of trading, and the granger
stocks especially were ratified off. The
close was heavy on the decline. The
Z final changes are generally insignifi-
cant, but Wheeling and Lake Erie is
down IL. Railroad bonds were more
active, the sales being $1,139,000 but
theEchanges were like those in stocks,
without Importance. and the tone of
the dealings undecided. Government
bonds have been dull and barely
steady. State bonds have been neg
lected. The Post says: "The
general speculative public in this
country are at present more than usually
disposed to look for and speculate for
higher prices. A few people who were,
perhaps. little too eager. and have been
loaded up with stocks for good while,
have been somewhat disappointed that
the rise has not come before now, butas
soon as London shows disposition to
buy stocks there will be found plenty OF
people here to do likewise, and the ac-
tivity of sugar trust certificates will be
forgotten in the greater activity of rail-
road stocks. The total shares of stocks
to-day were 1902 shares, including
Atchison, 8, 700; Delaware, Lackawanna
& Western. $3.50; Northern Pacific, A.
us; Pacific Mail, 1920; Reading, $500:
st. Paul. 1O,920.