St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-07-22
FINANCIAL.
New York.

NEW YORK, July 21.-Clearings. 1852.
932; balances, S3.721 .5S7. Money on call
easy, ranging from to per cent; last loan
at A; closed offered at 4. Prime mercantile
paper, 5@6l2. Sterling exchange quiet and
strong at S4.S4a4 for sixty-day bills and
$4.8ss4 for demand. The opening OF the
new week in the stock market, while pos
sibly not SO thoroughly stagnant as the last
two days of last week. still showed no relief
from the dullness and oppressive stagnation
in prices which have ruled now for SO long.
The habitues of the street, as rule, are all
at sea as to the probable course
Of the and MARKET feM n IN ee
of opinion are to be heard. all seemingly
afraid TO do anything, and all awaiting de-
velopments on one side or the other. The
railroad situation is about in the same con-
dition that it was week ago, but the action
of the secretary of the treasury in inviting
offers OF bonds on more liberal scale 1ndi-
Gates desire to speedily stop the accumnla-
ton of money in the treasury, which has
been going on at faster rate than usual for
some time past There was diversity of
opinion ON the bank statement of Saturday,
and il seemed to be surprise all around, as
there were those who had expected
marked increase in the surplus reserve, but q
much larger number had expected that the
outgo of gold would not be balanced by the
receipts from the interior, and were looking
for material loss The actual result in all
probability had much to do with the frmer
tone to the market exhibited to-day, although
as usual all the movements worthy of notice
were confined to few stochs, most of which
were affected by circumstances peculiar to
themselves The easier feeling in London
was reflected in higher prices from that
center this morning, and our market re-
sponded with advances over Saturdays final
figures of from 1s to sS per cent. Sugar re-
fineries was again the most marked feature
of the davis operation. but it was weak again
in the forenoon. losing ia per cent and set
Ting down to 1894. The loss was afterwards
at little below the opening price
There was something like an attempt to
reach stop orders, which met with some de-
gree of success, but support was forthcom-
ing at the lowest points. In the regular list,
some! specialties like Hooking Valley and
some others, but Atchison and c., c., C.. &
StELouis were weak, and the latter. after
selling ex-rights fell away Ia per cent and
closed near the lowest. Atkinson was at
talked in the last hour and dropped 1 per
ceIt.si;The close was dull but firm, generally
at something better than the opening prices.
Atthison is down l per cent, but all the
other changes are for fractional amounts
only. with majority of advances Railroad
was small business transacted in the
foreneon. The usual stagnation in prices,
however, was shown with rather
heavystone. but no important changes &C.
CuIr6Q. III Tie dCtlFc UOuQo. OONClumcuI
bonds have been dull and firmer. state
bohds-have been dull and featureless. The
Post says: One of the most significant feat
tres of the market was that. Notwithstanding
its extreme dizziness, prices were higher IN
response to the slight improvement in Lon
don, where money in the open market was
12@l per cent lower to-day than last week.
The South American financial troubles, which
have been cause of stagnation of speculation
in London, snow no improvement yet, but
the apprehensions that they would cause
serious financial embarrassments in London
seem to have abaled. London is now
the most important factor in the
New York stock market. The situa-
ton in this country is favorable
to higher prices for stocks. The latest re-
ports from Chicago indicate that the railroad
managers in session there are really trying to
come 10 an agreement to advance rates, and
the circular of the secretary of the treasury,
asking proposals for the sale of and Az per
cent bonds, shows that he is trying to find
out what price will bring large blocks of
bonds into the treasury and distribute the ex-
cessive locked-up surplus. These things in
dictate the probability OF better earnings for
the railroads and an increased supply Of
floating capital seeking investments. 1t
oaly requires that London should become
buyer of stocks to give the whole market @
considerable advance. The total sales of
stocks to-day were 1n1 ,295 shares, includ-
ing: Atchison, l6,79l; Delaware, Lacka-
wanna {. Western, 14'5Q7; Hooking Valley,
400; ST. Paul 6,51O.