St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-03-27
FINANCIAL,
New York.

New YORK, March 26.-Clearings, $9z, 16e,-
1913; balances, $4,O12.27 Money on call,
easy, ranging from to 4l2 per cent: last
loan. 3 per cent; closed offered at g. Prime
change quiet but strong at 81 for sixty
day bills and 81 .S634 for demand. The stock
market showed q still smaller volume Of bust
ness today. but there was on the whole,
terday, and the result of the days operations
is to leave almost everything traded i'll
slightly higher than last night. The fears Of
a monetary stringency are fast disappearing,
butthe bull leaders are apathetic and the
bears are disposed to be oyer-cautious,
leaving the operations from day to day
in the hands OF professionals and room
traders who show very little disposition 10
extend their ventures beyond the day. and
fluctuations are confined within the narrow
est limits. The near approach of the April
settlements without signs of stringency i'll
the money market made the bulls hopeful.
There seems to be little of foreign selling
left and most of the operations between the
London market and this one are arbitrage
operations, while the completion of the
fOrtnightly settlements there gave a better
tone to the market for American stocks.
There was another rise In foreign exchange,
which was due principally TO the scarcity of
commercial bills and had no appreciable eff
feet upon the market. There was some ac-
tivity in spots to-day, and Missouri Pacific,
Rock Island, Ontario d. Western, Sugar
refineries and Union Pacific were all conspic-
uous though their sales would Oh an ordi-
nary day be considered small. The expecta-
ton of dividend upon Missouri Pacific
made it o leader in the limited upward move
ment, which continued throughout the
greater portion of the day, and the buying
for foreign account sent Ontario d. Western
to the front for the first time in long while.
The better outlook in the West helped the
grangers. but only Rock Island showed any
special strength Sugar was the only stock
:1l.- l,1s
and after drop to 63ls. against 6is4 last
evening. it recovered almost all of its loss.
The market is almost all higher to night.
but no marked advances were made Railroad
bonds were little more active to-day. the
sales of all issues reaching 81. psi 900, which
business was very evenly distributed. There
were no special features to the dealings, and
while firm tone prevailed the movements
were extremely small and few marked
changes are shown tonight. Chicago
East Illinois iirSts rose = to 90, Peoria, De-
catur & Evansville seconds to 70. and To-
ledo, Ann Arbor d Grand Trunk frsts to
liz. Government bonds have been dull and
steady. state bonds have been dull and
without feature. The Post says: "Of course
everybody i'll any way interested in railroad
securities feels good deal of interest in
the endeavors of representatives of the
trunk lines and Western roads in SEES
s w1 IN lake city and 70 s adjust sesr to rai Ss
Northwest. The lake lines OF steamers very
justly claim that they can carry freight be-
tween Buffalo and Duluth for the same price
that they can between Buffalo and Chicago.
But it is quite plain that the Chicago rail
roads cannot compete, because the rail route
is over 200 miles longer between Buffalo and
Duluth than between Buffalo and Chicago.
The 500 line and the Lackawanna's new
line via the Flint d Pere Marquette and
Green Bay & Winona, are the only rail
lines that can compete with the lake
steamers, and they will probably in.
sist ON large diiferentials, as compared
with the lines via Chicago. II there
is any difficulty in settling basis
for all the lines, it will only be because the
roads from Chicago to ST. Paul, Minneapolis
and the country north Of there want to in
sist that the shorter distance from Buffalo to
Duluth shall be igno ed. The total sales of
stock to-day were l26, $40 shares, including:
Atchson. 1926; Louisville Nashville,
5, 10; Missouri Pacific, lo,367; Northern
Pacific preferred. 1922: Oregon Transcon-
tinental, 6, 100: Reading. 7.4O,: Richmond
Il West Point, $500; ST. Paul. 9.92'.