St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-01-27
FINANCIAL.
New York.

NEW YORK. JAN 25.-Clearings SI26, 2s1,-
437; balances, So, 11O,525. For the week:
Clearings, S6S9,551 .6l2; balances, S33.701,-
IT,. Money on call easy, ranging from = "
to per cent; last loan 2l2, closed at 2l2@3
per cent. Prime mercantile paper, 5@612.
Sterling exchange quiet. but firm at 81. S212
for siXty-day bills and 81. S6l2 for demand.
The stock market developed more activity
today than it has done on Saturday for
many weeks, and more strength than on any
previous day this week. London was mo-
derate seller of its specialties, but the offer
ings had no apparent effect upon the
temper of the dealings, and there
was little trading for other outside
centers, though Boston was again a liberal
buyer of sugar TefnerieS, the purchasing be-
ing accompanied by rumor Of an agree
ment between the retiners New England
was also bought freely in the first hour. but
plenty of the stock was supplied, and II
made little movement. Chicago bought a
line in the general list, but was not specially
conspicuous. The market as a whole was
Still broader than that of yesterday. and
steadily improved from the opening to the
close and the demand was apparently for a
strong bull interest. The large increase in
the bank reserves removed all fear of
monetary squeeze for a long time to come,
and upon the issue of the bank statement
to-day the buying became more pro-
nounced and the upward movement
was accelerated. Manhattan led an advance
today. The low-priced shares again alb
sorbed most of the speculative attention. and
were steadily bought all of the important
gains for the day. outside of Manhattan be-
ing i'll those stocks. Reading was by far the
most active stock, and touched 40 under
buying. which is believed to be for both sides
of the dispute in the company. while the
other coalers were neglected. The final
changes are all in the direction Of higher fig
ufes tonight, and Chicago IL East Illinois
rose 2S4, the preferred "a: Manhattan, 25s;
Peoria, Decatur e. Evansville. ZIP: Sugar 2 /;
Tennessee coal, preferred, 1l2; and Evans
vile & Terre Haute, ll2. Railroad bonds
were also more than usually active, and
the dealings for the two hours were
Sl,26l 90, which was well distributed.
The market was strong throughout, though
few issues show declines. Gulf, Colorado
d Santa Fe lists certificates rose 2l2 to 116.
The sales of bonds for the week aggregated
S9,620,O00 against 81, 49,, 900 for last week
The Post says: This morning it was fore
gone conclusion that the hank statement
would be very favorable. 1t was known that
money was becoming very abundant in Chi
cago, exchange there was in favor of New
York, and the bond purchases and interest
payments by the treasury were beginning to
have an effect on the money market here.
Colder weather and large outstanding short
interest helped to advance the anthracite
coal stocks, and it was apparent that at least
some part OF the outside public were taking
more interest in the stock market,
the loW-prced stocks of roads
in sections of the country where they are not
affected by the competition and rate cutting
among the granger roads west of Chicago,
nor by the depressed condition OF the an
thracite coal trade. Under these circum-
stances it was not surprising that the market
opened with advances OF IS to SS on about
every stock on the list, and continued to adj
vance with the increasing activity of the
market up to the close at II o'clock. The
bank statement announced at IL :40 was
fully as favorable as expected by the most
sanguine, and relieved the minds of specu-
lators of the last remaining doubt about the
money market The deposits showed an in
crease Of S3.7l9,9oO, put the surplus reserve
showed an increase Of 81, go, 625, concur
rent with a decrease of So. 277.7O0 in
the loans. This last item was significant of
the inability of the banks to find employment
for their surplus money, and also indicated
that those who are carrying stocks must
have paid for them and taken them out of
the market and out OF the collaterals for
loans to larger extent than usual. though,
of course there has been also large Hquida-
ton of commercial loans incident to the
closing up of last years business. After the
bank statement the stock market was Ia to
Government bonos dull and barely steady.
State bonds neglected. The exports of spe-
Gle from the port of New York last week
amounted TO 1921 ,02l, of which S3S, 02l
was gold and S2S3,000 silver. OF the total
| gold exports Sl5.752 went to Europe and
| SO, 269 to South America. All the silver
| went to Europe. The imports of specie at
| the port of New York amounted TO S5U2 97S,
| of which S4S9, 976 was gold and 500, O02 sill
| yer The total sales of stocks today were
| 1929 shares. including Chicago & East
| ern Illinois, 4. $50; Delaware. Lackawanna &
Western, i, 24O; Erie, $3.50; Louisville d
| Nashville, 4.6l0; Manhattan Consolidated,
| ), 297; Missouri Pacific, 4,205; Northern Pa
| cific preferred, 4,732: Oregon Transconti-
mental, 4,420; Reading, 26,300; st. Paul,
! q SS5