St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-26
FINANCIAL,
New York.

New YORK. Oct 25.-Clearings, S134. 742-
$50; balances, So, 1886 For the week;
Clearings, S154, 36S.ll4: balances. $685.
1749l9. Money on call easy. ranging from
cred at i. Prime mercantile paper, 6@a.
Sterling exchange quiet and steady at,
81, ls4 for sixty-day. bills and 81. 81 for de-
mand. The stock market to-day was a con-
tinuation of the depression of the past two
days. but Sugar Retineries took a secondary
position in The market, although 1t still led
in the amount of business done The bear
attack to-day was directed principally against
u Union ahe Pacific upon the dslrength
ment between that road and the granger
roads with which IL connects and the press
ure to sell the stock was 50 heavy that its
price was forced off to the lowest figure
known for years. On the theory that dis
sension IN the West must result in damage
TO all The roads in that section. the granger
stocks were sold with great freedom, espe-
cIally ST; Paul, which vas second in the ex-'
tent of the decline. The trading, especially
in the latter portion of the last hour, was
enormous. but the covering of short con-
tracts put out yesterday and to-day in the
leading seocks forced material recovery
from the lowest prices, which were from to
IFS per cent lower than last nights prices.
The opening of the market under con-
siderable pressure was weak at de-
cllnes from last nights figures of from
!s TO l2 per cent generally with exceptional
losses of "a in G. c. c. Il st. Louis, and 4 in
Sugar. The temper or the room was bearish,
however, on account of the disposition of
the arbitrage dealers to sell the London
favorites and the general expectation OF an
unfavorable bank statement. The last
named, however, was a genuine surprise in
that 1t showed small increase in the sur
plus reserve instead of the material loss ex-
pected. and contributed not little 10 the
final rally. The bears got Immediately 10
work in the Western stocks, and shortly after
! i o'clock Union Pacific was down to 45la,
and ST. Paul to 56l2, both beng lower than
for years. The covering then began ana
the trading assumed very large proper
TONS while the recovery in everything
traded in was sharp, most stocks regaining
nearly all the early loss. Chicago Gas Rock
Island, Atchison North American, North
ern Pacific preferred and Louisville & Nash
vile were all prominent for their wide huc-
tuatlons. but only the first named showed
any material loss for the day. Sugar Re,
fineries was active, and. while it was forced
off to 50 against GIG last evening, il met
with good support and closed with net
loss of only u per cent. The final dealings
showed considerable strength all through
the list. and the close was active and strong
at the Improvement. The list is all lower,
but the losses except in Union Pacific,
which is 23s lower, and st. Paul "A and
amounts only Silver certificates were
again extremely weak and retired to LOB,
but recovered with stocks to l.04 at the
close, which, however, is 4 loss Of IA. Rail-
IOau bonus iilled 10 SHOW any OF the ACTIVITY
or the weakness of stocks, and the usual
slight changes with a steady tone marked the
moderate business done. The sales reached
600, but there was no feature and while
Northwestern debentures rose 10 to l. lOIe
and Morris Il Essex consuls to ! 40, Panse-
cola and Atlantic tirsts lost 2 at 1.O3. Gov
ernment bonds have been dull and steady to
firm. State bonds have been neglected.
The exports of specie from the
port OF New York during the week
amounted to S40,9S9 OF which S35, 7S9
was in gold and s., 200 silver. The imports
of specie during the week amounted to S412,-
252, OF which g, 425 was i'll gold and S409,-
T21 in silver. The Post says: The bears
ruled the stock market the greater part of
this forenoon, and in their attack on Union
Pacific were aided by a dispatch from San
Francisco saving that there had been twenty
seven wrecks in five days on the Union Pa
c1fc lines, and that the whole road was prac-
ucally wreck. The same dispatch, however
admits that the traffic is so enormous that
the Union Pacific can't spare the rolling
stock to be taken into the shops for REPAIRS
The story OF the bad condition of the road ap-
pear to be only part of the fight between the
Union Pacific and Northwestern on one side
and the Rock Island st. Paul and Burling-
ton on the other the latter being displeased
by the Union Pacific's demand for q larger
percentage in the division of rates on through
business The total sales of stocks to-day were
PAP, III shares, including: Atchison, u 325;
Delaware, Lackawanna IL Western, 1925;
Louisville d. Nashville, 1880; Missouri
Pacific, 1920: North American, 10, 1U7;
Northern Pacific preferred, 7,170; Reading
1880; st. Paul, 81, $50; Union Pacific
$3.50.