St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-09-09
FITZGERALD & SMITH
COMMISSION MERCHANTS,
324 Jackson Street. Gilfillan Block
GRAIN, PROVISIONS, STOCKS, COFFEE
AND COTTON.
wWIRES DIRECT.
FINANCIAL.
New York.

NEW YORK, SeptS.-Bank clearings today.
S7s,5O2.2 l1; balances, So, 7OS, 692. Money
on call closer, ranging from 3 to 10 per cent;
camille paper, 70S; nominal Sterling ex-
change quiet and weak at 81 80 for sixty-day
bills and S4.S5l2 for demand. The stock
market to-day has possessed more animation
than usual of late, but the activity has been
caused by the same hammering oper-
ations which gave to the market
all the life it was in possession of last
week, and In a few stocks there were sharp
declines, while the remainder of the list
showed only slight changes as the result of
the days operations The action of the
secretary of the treasury in offering to pre-
pay the interest upon the per cents for the
coming year gave check to the increasing
aggressiveness of the bears. The slow re-
spouse to the last offer to redeem the 4Ia
per cents and the continued low
which have now shown deficit from
the requirements OF the % per cent rule for
four weeks in succession, made it i'm perative
that something should be done to meet the
seems to have aggregated larger sum than
usual this year. The long continued scarcity
of money in this market restricts the bust
ness done in stocks TO the smallest limits
The pressure upon Burlington & Quincy was
again resumed this morning, and, nothwith-
standing the fact that the circular of the
treasury department III regard to the pre-
payment of interest upon the per cents
from "A to Is per cent, material losses were
afterward brought about in Burlington and
the other grangers, Chicago Gas, Union Pa
cifc and specialties. The market became
more active and weaker in the afternoon,
when the most material losses were sus-
tanned, and the only strong feature in the
room was Sugar Refneries, which made a
squirt of per cent on favorable rumors from
Washington about action upon the sugar
schedule. There was no news of a charac-
ter to bring about any liquidation of
long accounts, and there is no evil
dence that holders have given way 10
any extent but the drive was severe against
the late weak stocks and the extreme loss in
Burlington was per cent. The dealings
showed great amount of feverishness
throughout, but the downward movement
really ceased only with the close of business,
which was quiet but weak at about the low
est prices of the day. There was however,
some irregularity among the final figures,
some stocks showing slight gains. and Sugar
an advance of LIP per cent while the only
important losses were Burlington 24
and Chicago Gas lac. Railroad bond,
were more animated, the total sales os
all issues amounting to $4,000, out of
which Colorado Midland IS, the only active
feature, furnished S119,UOO and advanced
TO 75l2, gain of PA per cent, while the list
in general was inclined to sympathize with
the weakness in stocks and most issues show
decline this evening. The trading outside
OF the issues referred to. however, was de-
void of special feature. Government bonds
nave oeen dull ana STEADY. State bonds have
been dull, but without feature. The Post
says: 1.-THE action of the secretary of the
treasury in ordering the prepayment of
the interest on the per cent
bonds up to July 1, 1S91-which il
generally accepted by the leaders of these
bonds, as it undoubtedly win be, will re-
suit in putting out about SIS. 900 900 which
would otherwise be held in the treasury until
next year-had favorable effect, both on
the London and home markets for stocks
Early prices in London before our opening
were from Is 70 rs higher than orr closing Sat
urday. Aside from the grangers the volume of
business was SMALL but prices were frac
tionaliy higher. The Improvement was due
chiefly to the action of the treasury in an
ticipating the payment of the interest on the
per cent bonds, which will release large
amount of money that otherwise would be
tied up in the treasury. Railroad earnings