St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-07-19
BANK OF MINNESOTA
ST. PAUL, MINI.
WIN. DAWSON. President.
ROBT. A. SMITH, Vice Presst.
WIN. DAWSON JR., Cashier.
ROBT. l.. MILLER, Asst Cashier.
FINANCIAL.
New York.

NEW YORK, July 1S.-MOney on call
easy, ranging from to 6 per cent;
last loan at 8; closed offered at 8.
Prime mercantile paper, 5@7. Ster-
ling exchange dull and steady at S4.S411a
for sixty-day bills and S4.SS115 for de-
mand.t The total sales of stocks to-day
were S1.365 shares, including Delaware.
Lackawanna q Western, $3.50; Hooking
Valley, 5,995; ST. Paul, $500. The dam
age to the Western Union build ng in
this city by fire this morning destroyed
the means of communication with the
outside world to. a great extent, and
brokers this morning found themselves
with no means of noting business, eX-
cept from those customers who hap
pened to be in the city. The
stock exchange is sufficient common
tary upon the character or the trading
for the past month or two. There was
no market worthy of consideration. The
trading was entirely local FROM the nat
ure of things, and prices were left to
their natural bent to greater extent
than for many day. with the result
that the fluctuations lin most OF the list
were confined to from Il to q per cent,
and the stocks in which there was
movement enough to merit mention
may be counted upon the fingers of one
hand. The rumorS of deal between
the Hooking Valley and some other
road. supposed to be the Norfolk &
Western, sent the former stock up near
ly per cent. and the stock enjoyed
a prominence in the market which
1T seldom attains. Even Sugar Re-
fineries was very dull, but the
manipulators saw fit to move it up
sharply in the latter portion of the day,
when it reached point 2 per cent bet
ter than its first price. LackaWanna,
Rock Island and Pacific Mail were firm
on very light fluctuations, and the re-
mainder, while displaying firm under
tone, failed to move more than the
slightest fractions. The factors which
are now of most Importance to the fut-
ure course of prices seemingly had no
effect whatever upon stocks to-day. and
while the meager adviceS from the West
in regard to the railroad situation and
the efforts to adjust existing difficulties
was regarded as favorable, there was no
response to them. The bulls are more
and more convinced that before the
first of September the silver law will
have begun to show its influence,
and then all kinds of business will see
a marked improvement. In the last
hour of business the announcement was
made that the decision denying the
right of the receiver of the North River
sugar refinery to proceed against the
other properties of the trust had been
handed down, and Sugar RefinerieS was
lifted per cent, with large increase
the amount of business done. The
rest of the market sympathized to a
limited extent, and the close was firm,
though very dull, at something better
than the opening figures. Sugar closed
with gain Of 23s per cent'and Hooking
Valley with gain of per cent, but all
the other changes were for slight frac-
tons only. The trading and
changes in railroad bonds were
equally insignificant as those of
stocks, although there were a
few marked changes, while Cedar
Rapids. Iowa Falls & Northern firsts
lost ~ at S711s. Government bonds have
been entirely neglected; State bonds
have been dull and steady. Bar silver
closed at 1851. The Posts financial
article saws: "a further amount of
$3SO,O9O of gold was taken for export
early this morning, and though the rates
for exchange were unaltered, the mar
ket for bills was enough firmer to make
some expectation of more gold exports
and higher rates for exchange. A fur
Their decline of Argentine and Uru-
guayan securities in London was also re-
ported. which had a depressing eff
feet on speculation in all kinds
of securities there, and was re-
fected in fractionally lower prices
for American securities there before the
opening of the New York market. The
presumed loss of near s1,OO9,O 900 to the
Western Union by the fire in its build
ing on Broadway this morning had the
effect to make a decline of "a in West
ern Union stock to S334 before o'clock.
So far as concerns the interruption of
stock exchange business by the West
ern Union fire, it was generally believed
was so dull, and there have for several
days been so few orders from outside
| the city, that very few could have been
interrupted to-day; but had the fire oc-
| Cured in busy time it would have