St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-09
FINANCIAL.
New York.

NEW YORK. Aug. S.-Clearings. sl13,-
23s,65l; balances, S5,74S,42s. Money OH
cali close, ranging from 5 to per cent;
closed offered at S. Prime mercantile
paper, $685.. Sterling exchange dull
and weak at $4.S4A for sixty day bills
and S4.SS1@ for demand. The stock
market to-day returned to its Old con-
dition of extreme dullness in business
and utter stagnation in prices, the bear
movement apparently having finally
come to an end. The same conditions
which invited the late attack remain,
however, and while money on call is
commanding more than the legal rate,
and no improvement in the crop situa-
ton is reported, every one expects to
see an unfavorable bank statement to-
morrow. The sub-treasury, while pay
ing over s1.OOO,OO0 for bonds redeemed
during the past week, is known
to have absorbed something in the
neighborhood of S4,000,000 in that time
and about S2,500,00O has been de-
posted on account of shipment to other
points. At the same time it is believed
that the local bears have covered their
shorts and are ready for a turn on the
long side, but there seems to be lack
of leaders for such movement, and the
still unsettled finances both here and in
London make would-be spectators
wary of entering into new ventures in
the stock market. London, however,
displayed a better feeling, and this
morning was buoyant on American Sc
curitieS with an easier money market;
and the recent purchase of securities
here for foreign account give emphasis
to that fact. The rates for sterling ex-
|achange were lower, and the leading
ha,, l-nr nj q T.
outgo of gold in the near future. The
higher figures from London this MORN
ing, together with the rally last even
( ing, contributed to make firm
to strong opening, and even fractional
advances in the early dealings. The
upward movement could not be main
t tanned, however, and prices after set
thing back to about the level of first
| figures became utterly stagnant, es-
peeially in the afternoon. New Eng
land was the strong feature OF the day.
and it scored a gain of over l per cent,
but like all the rest, even the inside
manipulation could not hold the adj
T vance. Sugar was moved up and down
/ according to the varying feeling as to
the probable outcome of the suit to adj
nit Receiver Gray as defendant in the
Sugar trust reorganization proceedings.
denly again in the afternoon. but re-
covered as quickly, and it, like the 9TH
ers. shows OILY slight change this
evening. The crop situation keeps the
bulls and bears alike cautious until the
final outcome is known, and while the
feeling in the street is again bullish.
| further developments are awaited. The
market remained intensely dull
throughout the afternoon and finally
closed stagnant at Insignificant changes
from last nights figures. The
| final changes are about equally
| divided between gains and losses for
| small fractions. Railroad bonds were
| duller than for long time, although
better tone prevailed than usual of
late. The total transactions reached
only 1888 1000. with 10 animation any
where in the list. The important
| changes, however, were losses, ana In
! ternational frsts declines 2to ll211aa. Coy