St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-03-24
FINANCIAL.
New York.

New YORK, March 22-Clearings today,
s1o2, 456, 072; balances, 1922, 662. For
the week: Clearings, 1927, 255. 80; bal
with no loans, closed offered at s. Prime
mercantile paper, 5l2@7l2. Sterling ex-
change dull, but steady at 81. S212 for sixty
day bills and S4.S5l2 for demand. The dull
ness in the stock market which has been such
feature for the past week was still more
pronounced to-day, and the transactions
were the smallest for the morning for more
than six months. The Strong tone of yester
day remained, however, as the impression
that the bank statement was to be good one
was most universal, and the selling was very
cautious, while covering of shorts was in
dulged in to a marked extent consider
ing the limitations of the market. The
general list remained within the narrowest
limits. and the stocks among the usually
active list which fuctuated over a range of
more than 12 per cent could be counted upon
the fingers of one hand. Sugar was again a
feature for one-half the session, but the
traders sold it on the theory that the divi
dend news having come out the stock would
be sale. Tennessee Coal was the strong
feature, rising 10 81 against 54ls, but it re-
acted late in the last hour to So. Hooking
Coal and Iron sympathized with it and
scooped net rise of 1l2 per cent, closing at
Fl, In the railroad list the Flint and Pere
Marquette stocks were specially strong, and
the common at 347s is up la and the pre-
ferred at 1OOIs is up 2ls per cent
Among the other srecialties which showed
considerable strength, the Wheeling & Lake
Chicago were prominent. The other move
ments were entirely without significance.
The market closed dull and strong at the best
prices. Railroad bonds showed the same
dizziness and steadiness which has marked
the dealings throughout the week, and on a
very limited business only slight changes
were recorded Government bonds have
been dull and steady. State bonds have been
entirely neglected. The exports of specie
from the port of New York during the past
1856 was in gold and $2s7,77l silver.
amounted to s42650I, Of which $500
6sS was in gold and S?9,sl3 silver.
The Post says: Almost the only active stock
that is notieeably lower than last week is
Union Pacific, though there are larger de-
clines on few of the specialties, such as
Oregon Short Line and Louisville, New. Al
bany & Chicago, which are respectively 2
and points lower. Everything has seemed
tensions of tight money were the chief OBJ
stacles to a further advance in prices Of
stocks. And yet, when the bank statement
was announced, it did not have the imme-
in the twenty minutes before the close
of business prices fell off " to ss
for the majority Of the active
stocks. The fact that the early prices in
London were lower than the closing prices
here last night, may have had some effect to
induce selling here for the time being. But
all things considered, the entire situati on.
both as regards the prospects of the rail
roads for good earnings. and also as regards
the money market, have improved so much
that it can scarcely fail to have a tendency to
make higher average prices for stocks next
week. The total sales Of stocks to-day were
54.4S3 shares, including Atkinson, 1850;
Louisville & Nashville, S,184; Oregon
Transcontinental, 1,710; Reading. LOO;
ST. Paul, $3.50.