St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-07-17
FINANCIAL.
New York.

New YORK, July 16.-Clearings, $124,-
3S7. O6O; balances, 81 1851, 4SS. Money on
call easy, ranging from 2 to AZ per
cent; last loan at 8; closed offered at "a.
Prime mercantile paper, 5@7. Sterling
exchange quiet and easier at S4.S41a for
sixty-day bills and S4.SS1a for demand.
The stock market at present is suffering
from general apathy of operators on
both sides of the account. The attend
ance of brokers at the board and their
customers at their Offices is of the
SlimmeSt kind and no one seems to care
which way the market goes while the
room traders and professional operators
move it up one day and down the next,
quite irrespective of the legitimate in
fluences which should govern the course
of prices. A small clique Of bears are
the only active element on the situation
and they are afraid to increase their
outstanding shorts too much. The bulls
are waiting for a leader or leaders who
can command sufficient following to
make prolonged and aggressive CAM
paign, but they do not seem to be forth
coming and dizziness and stagnation in
prices results. The effects of the silver
bill for the present have been seen, and
the railroad situation commands most
attention, especially from the bears,
and while the positive adviceS of the
ence was neutraliZed by rumOr from
Washington that the interstate commits
sion had resolved to reduce rates on
grain in the West. This caused heavy
feeling In the market throughout the
greater portion of the day, although it
cannot be said that there was any i'm
portant movement in prices because of
it. The usual dullnesS and practical
stagnation were still the ruling features.
and in such stocks as st. Paul
and Rock Island, which have
been selected as the special
objects of the pressure, the fluctuations
were scarcely "a per cent. Reading was
depressed "a and Missouri Pacific %,
which were abOutrecOvered in the later
dealings, when there was an effort to
recoup the sales of the forenoon: but
the changes in the other stocks of the
regular list are not worthy of comment.
Sugar refnerieS was again the special
feature of the day, and after a squirt
from 75c to 764c it was dropped for no
apparent reason to 74c, and later to
1870. 1t, however, is the only stock
traded in which shows decline at the
end of the day of more than small
fraction, its losses being rs per cent.
Silver certificates were more largely
traded in, and while the price reached
above no the fluctuations was small
like those in stocks. Among the
specialties, Hooking Coal, Ore
g0n Improvement and Rio Grande
western preferred showed strength on
small. transactions. but the remainder
was stagnant, The market, after
short period of frmnesS, closed heavy
at.about the lowest price of the day,
but only slightly changed from last
EVENINGS prices. Railroad bonds ex-
hibited the same dull level of stagna-
ton, and on only $751; 900 those changes
were entirely insignificant. the temper
of the market being steady and as apa-
thetic as that in stocks. The transac-
tions lacked feature of any kind, and
WhileISan Antonio & AranZaS Pass 86S
lost 81 at "a, Louisville Southern
lists 2115 at S71S. and Wisconsin Central
incomes at IS. There was noapparent
drift to prices. Government bonds have
been dull and heavy. State bonds have
been neglected. The Post says: The
Union Pacific, Denver & Gulf, was
higher on account of its continued large
increase of earnings. The net earnings
of s6O2, 622 in the five months to May 81,
indicate the probability of net earnings
of say S1,600,0O0 for the year. which
would leave surplus of possibly $780,
600 over fixed years. The total sales of
stocks to-day were 128,9l0 shares, in
Guiding: Delaware, Lackawanna &
Western, 10,720; Oregon Transconti-
mental, $3.50; Reading, 1850; st. Paul,
11,010; Union Pacific, 3.l0U.