St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-20
FINANCIAL.
New York.

NEW YORK, Oct ls.-Clearings to-day $780,
474.o67; balances. $6,IO1.290 For the
week: Clearings, 1912, .4U7; balances,
from 2l2 to per cent: last loan, 2I5; clos,
ing offered al PIP Prime mercantile paper,
54@e. Sterling exchange quiet and steady
at %. SOs4 for sixty-day bills and 81. S6Ia
for demand. The trading in the stock
market to-day clearly demonstrated the in
dependence of the manipulators Of the street
from any and all circumstances which ought
legllmately TO have bearing upon the real
values OF securities. II has been known for
some days that the bank statement would
show further decrease in the surplus re-
serve which for the past two or three months
would have been sufficient warrant for a
raid upon the list. But the temper of the
street is SO completely changed that notwith-
standing a loss in the reserves of over
S. on, 0On, and the complete wiping out OF
the surplus. the market to-day was strong
from start to finish, closing with material
ment received also little if any aid from out
side sources, the foreign purchases being in
significant, but the confidence which has SO
lately been developed was most noticeable
and all offerings were absorbed at advancing
figures. The traders were Inclined to dis
count the bank stasement at the opening
which was made on very quiet business at
Irregular changes from last nights figures
with a majority OF losses which. how.
ever, were for slight fractions only.
The strength or the speculation became APP
parent Immediately, however. and prices be-
gan to rise all over the list with the first sales
and before the end of the first half-hcur
gains of from ~ to rs per cent had cen es-
tabllshed, North American leading the up
ward movement. Later there was a partial
reaction, but the advance was soon resumed.
and the bank statement. when issued, had no
more than a passing influence upon Quota
tons. All the activity was in North American.
The advances were very uniform in the act
I've stocks. but the pronounced movement
was in Citizens Gas. of Brooklyn, which, aft
er retiring to 81, rose to 10Us4, closing at 100.
a gain of per cent for the day. The final
changes, with the exceptions not
ed. were fractions only, but almost
invariably in the direction of higher prices.
Railroad bonds We're little more active than
usual of late, the total transactions for the
two hours being S61l 900, with the Atchison
and Kansas d. Texas issues leading in the
trading. The market was again firm to
strong and Atlantic & Pacific fiSsts rose 2Iac,
to 1880. Government bonds have been dull
and steady. State bonds have been neglect
ed. The exports of specie from this port
last week amounted to S56,5l2, of which
$50. ll2 was i'll gold and S6.4no silver. The
imports OF specie during the week amounted
to S36S, $40, of which S69,965 was in gold
and 5 9S.914 silver. The Post says: The
noticeable point in the bank statement is
the decrease of specie to S4,737, 700
and the decrease of deposit is s.. ga So.
In regard to the great decrease in Specie
1t must be remembered that gold and silver
certificates are called ''specie'' and that in
default of a supply of old currency these are
sent 20 the interior for general circulation
In SO far as the movement of specie or legal
tenders to the sub-treasury is concerned,
there is reason TO believe that next weeks
bank statement will show large decrease,
owing tn the decrease of imports this week.
The percentage of the loans to the deposits
this week is l00l2 per cent, against 100 last
week, 81 in the week to Oct f. ST. az i'm The
week to Sent. p. 1OUl3 in the week to Sept.
20 and 1U2L2 in the week to Sept 49, The
total sales of stocks to-day were l26 $50, in
Guiding Atchison 1850; North American,
Reading, 500; Richmond & West Point,
1904; st. Paul. 10,515; Union Pacific, l. 700.