St. Paul daily globe., 1890-05-20
FINANCIAL.
New York.

New YORK, May 19.-Clearings $7s.67o,-
322; balances, So. S21, ,4S3. Money Oh call
easier, ranging from to z per cent; last
loan 5, closing offered at s.. Prime mercan-
tile paper, 5@7 per cent. Sterling exchange
quiet and heavy at $4.S3La for sixtyday
bills and 81. 95la for demand. The stoc8
market to-day was less active, especially
after the first half hour than on any
was something of a boom in the early
dealings, slowly sagging market fol-
lowed until the last hour, when rally oc-
Cured, which, however, left prices as rule,
fractionally lower Than they were on Satur-
day. The strength in the market shown
during the past week seemed to have been
left over for to-day at the opening, London
figures not only coming higher on. opening,
but the foreigners sent again liberal orders TO
buy, which were supplemented by large pur-
chases by commission houses. The busi-
ness done in the first half hour was equal to
anything seen during the present rise, but
the early demand was soon satisfied, and
at the higher prices reallzatlons again be-
came very large, and the bears. taking ad
vantage of this hammered the list in spots
and succeeded in bringing about material
declines in some stocks. They used the fact
that higher rate for money is now prevail
ing but the fact, while true is balanced by
the fact that there is no scarcity of money at
ruling rates. There were some specially
strong spots in the list. among which Wheel
ing q Lake Erie was conspicuous followed
by Texas Pacific Oregon Transcontinental
and some sPecialtises: In the the early s1niI
was weak on rumors and uncer
tainties as to changes in the man
agement Among the usually active stocks,
Atchison and Chicago Gas were the Leaders
of the downward movement but both. with
Pacific Mail, recovered the greater portion OF
their losses in the final rally. The most con-
spicuous movement of the day was the sud
den and sharp rise in Colorado Coal from
5i1A to 81, though all of the Improvement
could not be held, and the stock sagged away
with the rest of the list. though it retained
some of the gain. The Coal stocks were com
paratively neglected with the exception of
Reading and that stock was supported by
the impression that the companies will con-
tinue to restrict production to the needs of
the trade and prices will be slowly advanced.
The aspect of the money market was much
more favorable toward the close, and this in
duced considerable covering OF shorts, with
more new buying in the last hour, the mar
ket finally closing active and strong at some
thing better than the lowest prices of the
day. The final changes are quite Irregular,
but declines are in q majority, though there
are none OF importance, While Wheeling d
Lake Erie preferred rose DIS, Colorado Coal
1Ss, and Oregon Transcontinental and Texas
Pacific l per cent. Railroad bonds were
rather heavy in tone today, and, while many
issues are higher than Saturday, there are
several important declines, while the great
majority of the issues traded in show only
insignificant changes for the day. The Texas
Pacific seconds, the Atehison issues, the
Reading fours and the Atlantic d Pacific in
comes were again the active features, and the
transactions amounted to So 944, coo for
the day. st. Paul, Hastings & Dakota
rs rose 214 to 127; st. Joe & Green Island
2ds at 4e. Government bonds have been
dull and steady. State bonds have been dull
and featureless. The Post says. The news
| of the forenoon was Of mixed character.
Reports from the West indicate an unsettled
condition of affairs among the Western
| roads, but the officials talk more hopefully of
| all early settlement of existing troubles. The
| condition of the crops has improved consid-
! erably during the past week, under more
| favorable weather, and railroad earn
/ iugs now coming to hand for the
second week of May show material
gains over last year. The advocates of a re-
| action in prices for stocks this morning used
the argument for higher prices for money
| but the supply of loanabl9 funds was eQua
| to the requirements. The total sale Of stocks
were 464, $50 shares including, Atchson %,
900; Canada Southern, $500; Delaware
$50; Lake Shore, $3.50; Louisville & Nash
| vile, 1000; Missouri Pacific, 1000; North
ern Pacific, $4,000; Northern Paci io pfd
| 5000; Oregon Transcontinental. $4,000
Pacific Mail, $500; Reading, 46,4O0; st
| Paul, 49,, 700; Texas Pacific, 10 600; Union
Pacific 1000; Western Union, e, 100;
Wheeling q Lake Erie, 5000: Richmond 8
West Point 12,700.