St. Paul daily globe., 1890-05-03
J.J. WATSON, BRO. & HYNDMAN
SO East Fourth Street,
REAL ESTATE AND MORTGAGE M
KESTMENTS.
FIRE INSURANCE AGENCY.
New York.
FINANCIAL.

NEW YORK May 2.-Clearings to-day were
SIS9. .495. .O66; balances, 81, 469, 743. Money
on call easy at TO per cent last loan
closing offered at per cent. Prime fn6f-
camille paper 5@7. Sterling exchange quiet
and heavy, with actual business at Sd. "a for
60-day bills and $4S6 for demand. The
stock market still maintains its moderate ac-
tivity, although the business doing at pres
ent is far i'll excess of that for The past two
years. To-day the market was still more
feverish than usual of late, and the efforts TO
bring about reaction met with some little
success in the general list although almost
all the important changes for the day are
advances. The news of the day was
not of particular importance. In the mean
time the market halts little, waiting on de-
velopments. The number of operators has
greatly enlarged during the past week. Ihe
feverishness and late weakness in the market
to-day was occasioned almost entirely by
realizations which were in most instances
the result of desire TO close out deals for the
week. tomorrow being half-hollday. Ihe
fluctuations in most of the list were not
specially important The bears had the help
of reports of cutting of rates by the Eastern
Minnesota and the decrease in the net earn
ings of the st. Paul for March. Among the
specially strong features to-day were Chlcago
Gas in the forenoon, although 1t lost tne
greater portion of the improvement later in
the day. Oregon TranscOn. mental later be-
came the leader OF The advance and very
large business rose about per cent
Manhattan, Wheeling d Lake Erie
made sharp upward turns, though the San
Francisco common lost all of its gain and
something in addition and is one of the few
stocks showing q material loss at the close or
the day. The market closed active and
rather heavy and generally at slight conces-
sions from opening figures but the undertone
of the market continues firm. The majority
OF the list are small fractions lower tonight,
but the only marked losses were San Fran
MI, Enl
orado Coal 1 per cent each, while
San Francisco preferred is up = 3zS,
Manhattan ia, Wheeling and Lake
Erie J1s, ana Oregon Transcontinental
l per cent The trusts were more active to-
day, especially Lead, hut their gains were
day. the sales of all issues reaching S2930,-
0u0, with Texas Pacific seconds, the Atchson
issues, the Atlantic Il Pacific issues. the Wa
bash seconds and the Oregon Transconti-
mental SKIES as the active features. There
was only one strong point in the market,
however. which was Kansas Il Texas certlf-
Gates. Final changes are i'll few cases for
more than fractional amounts. East Ten
nessee tirsts and Cedar Falls firsts were
specially weak but most OF the active issues
traded i'll scored material gains over
their last sales. Government bonds
have been dull and steady. State bonds
have been duh and featureless.
The Post saws: London has been the most
important factor in the advance in the stock
market during the last week and especially
in the last few days. This is shown by the
increase of security bills in the exchange
market noticed by all the exchange dealers
III the last day or two. This argues well tor
a continuance of the advance i'll prices, be-
cause London was at first rather slow to
SympathiZe with The advance, which was
initiated by professional spectators here
and in Chicago Even the speculation in
stocks is confined almost entirely TO the
class OF professional SDeculltOrS. as
distinguished from what the street calls the
general public If the rise i'll prices con
tinues week or two more, the general pub
lic'' viii undoubtedly be drawn into the
speculation, but whether this is the case or
not higher average range of prices tor
stocks has already been established, which
will be comparatively permanent. because
the earnings of the railroads in all parts OF
the country and the prospects of a continued
improvement in the relations of the Western
rail roads to each other have justified reac-
ton from the long depression Of prices
Paul and Atchson dividends and the
reduction of all the other granger
dividends which occurred in 1873.
The recent large advance in lhe prices OF the
San Francisco stocks has given rise to q
variety of rumors respecting change in the
ownership of the property, but the best au-
thority states that there is no truth whatever
in the statements that the company proposes
to acquire any other line OF to be acquired by
any other company. The total sales of stocks
Atchison. 29,93O; Delaware, Lackawanna
& Western, &. 100: Lake Shore, $3.50 :;
Louisville & Nashville, 49, 1888; Missouri Pa
cific. 1000; Northern Pacific, 4, 135; \ orth-
ern Pacifc preferred, l3, 1877; Oregon Trans
continental. 40, 2OJ: Reading. 4.23O; Rich
mond d. West Point 19,5O9; st. Paul,
81, ,035; Texas Pacific. 3.l00; Union Pa
cific, &c. 900: Canada Southern. 1860.