St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-09-24
FINANCIAL.
New York.

NEW YORK, Sept. 23.-Money ON call easy,
ranging from to 3l2 per cent; last loan 2
closing offered at 2. Prime mercantile
paper, 6@7I2. Sterling exchange quiet and
heavy at S4.s0A for sixty-day bills. and
81. S4l2 for demand. The total sales of
stocks to-day were 81, 900 shares. including
Atchison, 1920; Delaware: Lackawanna d
Western, 1890: Louisville & Nashville,
$3.50; Missouri Pacific. $3.50; North Amer
lean, 80, 82S; Northern Pacific preferred, 49,
500; ST. Paul. Sd, 217; Uuion Pacific, $500.
The narrownes and almost purely profess
sional character of the stock mar
strted to-day by the extreme activity
in those stocks which have of late become
the special objects for bear attacks with their
accompanying weakness, in contract to the
dullness and comparative firmness of the re-
mainder or the general list The most prOml-
nent stocks for weakness were the Wizards,
but nothing is actually put forward as q rea-
son for their slumping, but the assertion
has been made that the Wizards must be
liQuidated, and in order to bring that result
about the pressure upon them has OF late
been most pronounced, especially upon the
newest one, North American. There is, how
ever, no end to the stories and arguments
setting forth reasons why the granger stocks
should sell lower, and the latest is that the
Southwestern roads and Mr.. Gould Intend
to establish new steamship line between
New York and New Orleans, and that all the
freight which now goes over the granger
roads will be sent over the new route, thus
precipitating another war of rates and dl-
minishing the already sb Drunken revenues of
the roads in the Northwest To second
these stories there is a continued pressure Of
short stocks, and of course the general course
of prices in that group and incidentally of
the rest of the llsti downward, as there seems
to be no Increased disposition to invest on
the long side. Confidence that there is to be
a continuance of the present ease IN money
has not yet taken deep hold on public
opinion. and to this cause, more than
G
tation now shown in the face OF all the
existing favorable conditions At the
same time there are a few bright spots,
like Lackawanna, in which the efforts of the
rest of the list were to-day strong during
most of the day, Notwithstanding that Lon
don was weak and silver here was lower in
response to the decline there. The market
as a whole displayed q marked strength in
view of the strenuous efforts III the few
leaders of the market mace by the bears. st.
Paul was. if anything, the weak point in the
list and, with silver certificates, is almost
ing. After the early hammerlng was over,
there was a full recovery in everything, while
Lackawanna and Rock Island led the up
ward movement. Another drive of small pro-
side of st. Paul, against which it was
specially directed, there was little
to show for the effort made. Dizziness
and frmness became the features of the
dealings, and the market closed dull and
firm at about the best prices of the day, and
generally at small fractional advances for
the day. There were no material losses, but
Lackawanna is up 25s, Rock Island 1l5,
Sugar Refineries ] A and Missouri Pacific
and Wheeling d Lake Erie 1 per cent each.
Railroad bonds were very quiet, although
the dealings extended TO larger number of
issues than on any day for a long time. and
while the tone of the trading was generally
heavy, the movements were Insignificant in
the extreme outside of few inactive bonds.
The transactions foot up S626,OOO. Most of
the changes are losses, however, and Nor
folk & Western 5s lost 2A at 90.
Government bonds have been dull and
heavy. State bonds have been dull and feat
ureless.