St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-01-23
FINANCIAL.


NEW YORK, Jan. 22.-CIearings 500. 9i4.-
IoS; balances, 7O8. Money on call
easy, ranging from to 4 per cent; last loan
z, closed offered at per cent Prime mer-
camille paper 514@7l2. Sterling exchange
quiet, but firm at 81. 52A for sixty-day bills.
and "a. S6A for demand. Inc stock market
was active to-day at both ends with long
period of dullness and a near approach to
stagnation between, though such movements
as were made in that time were in The direc-
ton of lower figures. About three-fourths
OF the business done during the day was
transacted IN the first half hour and the last
forty-tive minutes. A marked feature of the
trading, however, was that when the market
was active prices advanced. while dullness
brought dropping tendency and stag
nancy. The events of the day 60 to shog
that the bull party has quickly acquired
strength of numbers, and the talk on the
street Is more confident Of an advance all
along the line. The covering movement of
the past two days was still under way at the
opening this morning. but the early demand
was soon satisfied, and, as the buying for the
snort account ceased, the market became
dull and stagnant. The bears did some ham,
merlng in feeble way. but with only small
fractional results, and they soon ceased ag-
gressive operations. The temper of the room
continued bullish even under the discour-
a as2 tent OF the extreme dizziness and the
least two months, while the rail-
roads were sure of large earnings
for the meantime was heard IN all
directions. The cold snap was favorable to
the coal stocks, and neither Reading, Lacka-
wanna nor Jersey Central got below their
opening figures, while many OF the other
Leading shares before delivery hour were
fractionally lower. The afternoon rise was
started by the special.ies. with very heavy
trading in Missouri Pacific, the CoaIers, ST.
Paul, Sugar refineries and Union Pacific, the
last being favorably affected by the report of
the government directors though Oregon
Short Line was stronger on less business
everything reached its hiphaSt nriao far t1a
day, and the movement was Kept up right
up to the close, which was active and
strong. The trusts were fairly active, and
Sugar was strong, though the expectation of
q decision in its case rather initiated
against 1t. The buying was liberal in the
last hour, however, and with the regular list
1t mounted to the best prices for nearly a
week. The active stocks are almost invariably
higher tonight. Railroad bonds were again
moderately active, and although the transact
tons extended TO an unusually large number
OF issues, only one, Texas Pacific seconds
showed any special animation. furnishing
SlOo,OO out of q total of $1,507.OOO. The
movements were smaller and fewer than
those OF yesterday, but uniform finn tone
prevailed. Southwestern firsts rose 2 to liz:
MaeKin nae ana Marquette Land grant to SO.
weather strengthens the anthracite coal
stocks, but the frmness OF prices for other
STOCKS IN such extreme dulineSS is remarka-
ple,and is Significant of higher prices with any
ment in the street is bullish, but many specu-
lators, not only in New York but elsewhere.
are waiting Tor some indications of wider
public interest in the stock market Others,
though quite sanguine as to the prosperity
OF the general railroad business of the coun-
try, are undecided about what stocks to buy.
Eventually this uncertainty seems likely to
resolve itself into speculative advance in
all the cheap stocks, such as Kansas d Texas,
Texas PACIFIC, Denver & Fort Worth. Wheel
ing d Lake Erie. Hooking Valley, the Chesa-
peake & Ohios. etc. The establishment of
Lake Erie Western preferred as regular
dividend payer by its first quar-
terly dividend of 1 pei cent de-
clared yesterday, and which few weeks
ago was selling at So against 81 this fore
noon, is an instance of the prosperity OF the
Middle state roads. which will help specula-
ton in them. Government bonds have been
dull and weak for the AS. State bonds have
been dull and without feature. The total safes
of stocks to-day were $50, $50 shares, lnclud-
ing: Delaware, Lackawanna & Western, "a
3,.u; Hooking Valley, $50; Missouri Pa
cifc, 24.S55: Oregon Transcontinental,
$500; Reading, 49, 500; st. Paul, II,
Union Pacific, $500; Western Union, 1897