St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-25
FINANCIAL.
New York.

NEW YORK, Aug. %. - Clearings,
to-day, S14S, ,276; balances, S4,S15,36
For the week-ClearingS SIT, 416,695;
balances, $29,935, 1856. Money on call
easy; ranging from to per cent, last
loan 3, closed offered at 3; prime mer-
camille paper, 519@7; sterling exchange
quiet and steady at $4.S215 for 60-day
bills, and S4.S6@ for demand. 1t became
known that the acceptances of bonds
yesterday aggregated about $500 900,
and the feeling on the monetary situation
was perceptibly easier this morning,and
while there was little attention
paid to the threatened strike, the
chances that there would be one were
believed to be small. Little demand
for stocks appeared. however. and the
opening prices were irregular as COM
pared with those of last evening, the
changes extending to % per cent either
way. The general expectation was the
bank statement, as it would not reflect
the purchases of bonds for the past two
days, would show further loss in the
reserve. and the local operators were
inclined to take the short side
again for turn with the
result that prices were droop-
ing throughout the greater part of the
session. No special weakness appeared,
except in Sugar refnerleS, Cleveland.
Columbus, Cincinnati q st. Louis and
Chicago Gas in declines of IL, IL and
~ per cent, respectively, were forced.
The losses in the rest of the list eX-
tended to only % per cent, and before
the close of the first hour a substantial
rally occurred. Extreme dizziness then
interviewed and little or no change took
place until after the issue of the bank
statement, which reflected deficit of
S2.500.000 in the surplus reserve and the
dropping tendency was resumed. The
close was therefore dull and heavy at
fractional losses for the day in most
cases, though there were some advances,
and Sugar Refineries is down 1 per cent.
Railroad bonds were very dull, the sales
being only 1926, 900, and while there was
a generally heavy tone most of the act
i've bonds show gains, Louisville South
ern lists rising to 81. Govern
ment bonds were active and
steady. State bonds were neglected.
The Post says: The effect of the
threatened railroad strike seems now
to have been to large extent dis
counted. If the knights of Labor de-
eide to-day to try to instigate general
strike, it would probably have some
slight further effect to depress the
stock market. But the main question
is in regard to the rates for money, and,
SO far as this is concerned, there is
abundant reason for believing that the
pinch is over. The importing
merchants have been compelled to stop
their excessive i'm portations, as is
clearly shown by the latest statistics of
imports at the port of New York. The
offer of the treasury to redeem the ~
per cent bonds at par and interest to
maturity, Sept. l, 1891, has already
brought in nearly 100000 of the s2O,-
100000 called for, and the rest will I'M
doubtedly come in few days. As
soon as capital in London finds that
there is not going to be any
serious financial trouble here,
bnt that fair rate of interest can be
had for money, 1t will come. and though
money is likely to work close during the
remainder of the year, there is no rea-