St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-22
FINANCIAL.
New York.

New YORK. Oct. 21.-Clearings $156. 9Ol,-
93s; balances, $5,5s7 ,555. Money on call
easy, ranging from to 6 per cent; last loan,
4; closed offered at 4. Prime mercantile
paper oA@S. Sterling exchange quiet and
steady at $4.st q for sixty-day bills and
S4.S5A for demand. The stock market to-
irregular movements. but ending with a
strong tone and generally fractional gains
over last nights prices. The opening was
quiet and irregular, but at slight changes
developed in most of the list, last nights
movement being continued but there was
little feature to the trading, the de-
mand soon Stacking away. There was
an indlsposition to trade among the
professional element, the uncertainties of
the situation. making waiting attitude for
the time being, and dizziness soon became
the ruling characteristic of the market The
opportunity, and the dullness this morning
was taken advantage OF to raid Lackawanna
and the grangers, of which only Burlington
was found specially vulnerable. The con-
test in Sugar Refineries was continued with
some little advantage to the bears in the
early dealings but the stubbornness with
which prices were held outside of the few
stocks mentioned, caused a cessation of the
efforts before noon, and dullness again be-
ing for foreign account in the
past few days, together with the
poor showing Of the bank state
mcuG.id6I SRLurQdy. ana Inc 1aCC tQat the
complications in Sugar Refneries would act
uhfayorably upon this market has deferred
operations for the long account, but the hest.
tation of the bears brought in more good
buying in the afternoon, and, on very linn
tied business. prices were advanced slowly
but steadily throughout the remainder of the
day. Sugar Refneries were prominent in the
movement at first, but failed to hold all Of
the Improvement, the higher. prices bringing
out considerable stock, and its advance was
partially lost. The Willard stocks then be-
came the feature OF the market, and Northern
Pacific preferred and North American
,ney 6 %esen leaders in oee stS s Mhs
higher figures figure than IInn 1t any S'e'i pre.
vious time IF the day. Rock Island followed
decline recovered all Of the loss and frac-
ton in addition. In the late dealings Louis
vilieand st. Paul were prominent, and the
| latter touched 50 again. Among the spe-
The market finally closed quiet but firm at or
| near the best prices of the day. The final
| changes are almost ali Tor fractional gains
| but Northern Pacific preferred is up "a, and
| North American aud Hooking Valley each
! per cent. The railroad bond market was en-
| llvened by bear manipulation of the Rock
Island 5s, which declined to 9942, but later
| recovered most Of the loss The other spec
| ulative issues were quite neglected, and the
| dealings presented no feature of interest and
| the final changes of note are unusually few.
The sales reached $S3O.OOO. but no activity
! was seen in any special issue. Government
I! bonds have been dull and steady to firm
| State bonds have been dull and steady
| Petroleum opened steady, but November OPP
| ton declined 2Is on Western selling. When
! the few selling orders from the West were
| executed the opinion became dull and re-
| NAMED SO until the close. The Post says !:
| There was rumor yesterday and to-day that
| receiver will be appointed for the Sugar
| trust, What grounds there are for the report
| it is difficult TO discover, bat, probably, it
| was the natural expression of the pre-
! vailing opinion that the public really
have a right to know something
| ilies of concern which processes in semi
| official way to have $50OUO.OOU of capital,
| and upon which, in the semi-official way, it
| it reported to be making profits of from 2 to
| 10 per cent per annum. By these represen-
tations it solicltS the investment of capital,
| and yet no official statement has ever been
made of its assets or the profits of its opera
| ton. 1t has been commonly alleged that the
actual value of the twenty sugar refineries in
| the combination was only Onethird of the
| S5O.00O,U0J OF alleged stock. If this is the
| case the sugar refners are making profits of
! 40 to As per cent by combination which
was declared illegal last June, when the
| courts decided that the North River refinery
had forfeited its charter by joining the trust.
| The total sales Of stocks to-day were 2dS,.
| 81 shares, including AtchisOn, II, $50; Del
| aware, Lackawanna Il Western. 9.496: Lake
Shore, 4.U5O: Louisville & Nashville, Is. OS0;
| North American, %, 49,; Northern Pacific
| preferred, 1880; Richmond u West Point
6.1S5; ST. Paul, 49, go; Union Pacific, 1870