St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-04
,FINANCIAE.'
New Work.

NEW DIRK, May 5.-CledrillGS tO-udS.
Sl64, 4S0. 500; balances. S6,4l2.lN. For
the week: Clearings: $3.50 s45,3lS; bal
anccs, $50, 1874, 45. Money on call easy,
cent. Prime mercantile paper, 5(01.
Sterling exchange quiet, but steady at
S4S4 for siXty-day bills, and s4.S6 for de-
mand The stock market was rather
quiet in comparison with the large bust
ness transacted of late, and it remained
feverish. The heavineSS was most
marked in the granger stocks. while
Lackawanna, Oregon Iranscontinental,
Manhattan and Wheeling q Lake
Erie, both preferred and common.
were stlong. The trailing to-day
was principally of a professional char
acter, though there was some trading
for foreign account, but the principal
pressure was from Chicago and the
trading element, while there was good
demand for specialties. There is feel
ing of disappointment in the street over
the news from Chicago about the pres
ent,conditlon of the railroad war. There
is nothing TO show that the first settle
meat contemplated Is intended to cover
lanything but passenger trains. while
the war of freights. which represent the
most important part of the railroads
earnings, is likely TO continue. The
market was up and down within narrow
limits. with no movement at all worthy
of note in the general list, and only III
few SpecialtieS was there any move
iment. Oregon improvement, the
! Chicago, St. Louis IL PittSburg stocks
{ and one or two others made sharp up
ward spurts, out these constituted the
only features in the trading. There was
a better tone developed toward the close
ION the scarcity of Stacks Offering, and
1.-THE close was fairly active and firm at
;inSigniflcant changes for the day. st.
Paul, Atchison, Oregon IranscontlneIi-
tai and Richmond q West Point were
the active stocks. Railroad bonds were
Quiet to-day, the sales for the session be-
ing S1.O07,0O0. with Texas Pacific Ids
and Atchison incomes the leading feat
ureS. The tone of the dealings was still
firm to strong. but as usual Of late the
important changes were few in number
Northwest consolS rose ) to l24; Mis-
souri, Pacific 5S. 4 to 100. The sales of
bonds for theweek aggregated Sl2. 900
against S11, $4,000 for last week. Gov
eminent bonds have been dull and
steady. State bonds have been dull
and neglected. The exports Of specie
from the port of New Xerk last week
amounted to $3.50, S9S, OF which Se6,67S
was in gold and Sl97,220 silver. The i'm
ports of specie for the week amounted
to $50. S07, of which IS, l76 was III gold
and S72,631 silver. The Post says: The
early prices for stocks in London this
morning were generally lower than the
closing quotations here last night, anu
this was followed by lower prices here
for nearly all stocks throughout the
short session. A reaction has been eX-
pected for several days past. Prices
had gone up SO slowly for two week that
the professional spectators, many OF
whom had carried long stocks Tor two
or three months, had pretty we'll
sold out, and many of them had put out
lines of, shorts in st. Paul, Union Pacl-
tic. Lackawanna, Northern Pacific pre-
ferred. Burlington and some others.
The news of the cut made by the East
ern Minnesota and Northwestern Steam
ship company OH through freights from
the Northwest to the A tlanJic Seaboard.
thus threatening to :. cause another
freight war among ali the Northwestern
roads, together with the reports OF the
labor strikes in Europe amt the United
States, also had SOME effect. The re-
action, however, was much smaller to-
dav than might reasonably have been
expected under the circumstances,
showing that there is an extremely
strong prevailing sentiment in favor Of
a continued rise in prices, which is not /
likely to be changed, = except by
something more untayorable than the
occurrences of the last day, or two.
There is a reasonable probability that
prices may react still further OH the
first two or three days OF next week, but
at any considerable reaction the profess 4
sional spectators are pretty certain TO
be buyers again, because they see it is
easier to advance prices. than to depress
them. The total sales otstoeks to-day
were 1888 shares. including: Atchl-
son, 1885; Canada Southern, 3,725;
Louisville & Nashville, 3,lW; Missouri
Pacific, 1890; Northern Pacific pre-
ferred, 2,2l5; Oregon Transcontinental,
1850; Richmond d West Point, II. 745;
st Panl Ia $40. Linton Pacific 5.1NO