St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-07
FINANCIAL.
New York.

NEW YORK. Aug. 6.-Clearings, S115,-
537.O54; balances, S6,567,9 60. Money on
call close, ranging from 6 to I219 per
cent; last loan, 6; closed offered at 6.
Prime mercantile paper, 5(@6115. Sterling
exchange quiet and easier at S4.S5
for sixty day bills and $3.50 for demand.
The stock market to-day was more
active in spots, and developed decid-
eddy weak tone in the afternoon, during
the prevalence of which prices were
brought down to a lower level than has
been seen for some time. The bears
are much more aggressive, and point to
the fact that no matter what the eX-
pectation may be for a more active and
higher market with abundance of funds
in the near future, there is, and has
been for the past few days, growing
scarcity OF money on call which the
disbursements by the secretary of the
treasury for bonds is not sufficient to
relieve, and for the present there seems
no immediate prospect OF an improve
ment. The point of attack was shifted
from Missouri Pacific and Atchlson to
Chicago, Burlington & Quincy and Read
ing to-day, but all the others sympa-
thized to some extent with the declines
were comparatively we'll held, but the
coal stocks were uniformly weak. and
while they were dull, Delaware & Hud-
son lost large slice of its late advance.
The industrial stocks for the time being
were comparatively neglected, eSpec-
| ially in the afternoon, when the pres
sure upon the railroad list was most
severe. but they also felt the influence
and declined with the stocks of
the regular list. Sugar was very
| feyerish. and some violent fluctuations
were recorded in it. New England was
also active and feverish, but was we'll
maintained and with one or two others
| succeeded in closing small fraction
higher than last evening. The news of
| the day was principally of the crops,
and of an unfavorable nature, while the
| fear of tight money was worked for all
| it was worth by the bears, and these
| two factors we're all that made the
heavy declines of the day, coupled with
| persistent hammering. The temper at
| the opening was more hopeful, and first
! prices were something better than last
| nights figures, while further improve
ment was made in the morning hours.
The usual dizziness soon interviewed.
| however, and the bears then got
to work, Burlington coming first,
followed by Reading and the
others...The lowest prices were generally
| reached IN Cn6 ldSb hour, ana money
| going up to IL per cent, there was no
reaction. The close was fairly active
and weak at the lowest points. The list
is generally fractionally lower, but Bur
| lington is off 21S, Wisconsin Central 2,
Chesapeake & OHIO End preferred ",
Rock Island II and Northwestern, Pa
cific Mail, Reading and Union Pacific
each per cent. Railroad bonds showed
dull business, except in Atchison in
comes, which, however, failed to move
much. though it furnished S201.00O out
of a total days business of 1921, 900. The
market was in close sympathy with the
movements in stocks and closed weak
almost the whole session and while most
changes are fractional. Memphis &
Charleston 6s lost 2 at 103. Government
bonds have been dull and barely steady.
State bonds have been dull and feat
ureless. The Post says: Re-
ports respecting the crops were
conflicting, but the crop damages along
the lines of the Missouri Pacific and
Atchison have doubtless been consider
ABLY exaggerated. Late rains have
fallen and will reduce the amount of
damage. 1t is expected that the meet
ing of trunk line representatives to-day
will result in an adjustment OF existing
differences and restoration Of rates,
but nothing definite was known up to 2
O'Clock. A meeting of representatives
of the coal trade will be held here, prob