St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-01-07
FINANCIAL.
New York.

New YORK, Jan. 6 -Clearings, 50. 242, 100:
balances. S5.1l9,21S. Money on call easy.
ranging from TO Z per cent, last loan .,
closed offered at .. Pr'mA mercantile paper
594@1.2. Sterling exchange quiet. but firm
at 81. Stl4 for siXty-day bills and 81 S4A for
demand. The continuance of the unfavor-
able weather fer the coal trade. and reports
of trouble among some of the railroad lines
III the West. combined this morning with the
general disappointment over the bank state
ment of Saturday to create rather bearish
feeling among the traders in the stock
market and London prices coming
lower, The opening of the market was from
lBGIi2 per cent lower than Saturdays closing
figures. The ma al strength of the market
soon asserted itself, however. and after the
first few minutes prices were firm to strong.
The dealings presented few features of in
teTest. however. and the Gould stocks mo-
nopoliZed the attention of traders Pacific
Mail advanced sharply, even in the face of
the weakness OF the general list, and late in
the day touched 39La. The report that bill
was to be introduced into congress giving a
subsidy in some shape to American steamers
materially aided the improvement Ali the
other Gould speciaIies were prominent in
the dealings. especially Missouri Pacific
and Wabash preferred. but their movements
were comparatively small. The smaller coal
companies were strong all the way out offer
ing marked contrast to the stocks of The
great railroads, and Tennessee and Colorado
Goals made handsome advances for the day
Lackawanna and Reading were the leading
weak stocks in the dealings. The bulk of the
business was done at per cent. The sup
ply Y Is greater than usual of late, and the
reports from WASHINGTON indicated q cessa-
ton of the demand for money. The South
and West created 8 materially better
feeling. Stocks responded immediately,
and before the close of the first
hour prices were generally better than
those of The opening. In the trusts sugar
and lead changed places, the former being
strong while the latter was easier. There
was realizing movement toward the close.
which again eyed prices off from the best
figures. but although the close was quiet and
firm. The feature of the dealings was the
increased demand for railroad bonds, and the
transactions ran up 10 81, 81 400. with the
kane & Pol. lists rose 2 to 1862. The Post
says: "Stocks are very strongly held. The
impression is that spectators who have
bought stocks in the last month in expecta-
ton of the traditional January rise,
which, however, has failed to come
provided themselves with time loans
and with such ample margins that they are
not easily shaken out. II is positively known
that what is called the Vanderbilt interest"
or the party who follow the leai Of that fam
lily. have been steadily accommodating the
Vanderbilt stocks as well as some of the
other dividend payers, for permanent invest
ment. This kind Of buying has taken 8 great
many stocks, and especially the dividend
payers, out Of the market and leaves the
daily spectators to deal with the cheaper
stocks. Government bonds have been dull
and steady. State bonds have been dull and
steady. The total sales Of stocks to-day were
217-737 shares, including: Delaware, Lack
awanna & Western, 1854; Lake Shore
3,625; Missouri Pacific, 30, 227; Pacific
Mail, 10, 165; Reading, 1880; ST. Paul,
Ii, 235; Texas Pacific, lS.5l5.