St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-18
FINANCIAL.
New Work..

NEW YORK, Aug. 16.-Cfearings today.
s11S,60O,414; balances, s5,267.65S; for
the week, S690,O03, 1858. Money on
call easy, ranging fro4 to ~ per
cent: last loan 4, closed offered at d..
Prime mercantile paper, 5I@7. Ster-
ling exchange quiet and steady at
S4.S4sI for sixty-day bills and s4.97A for
demand. The stock market to-day was
extremely dull, but presented de-
cidedly strong front during most of the
session, and material gains were scored
i'm most Of the stocks traded in. The
effects of bad bank statement had
been completely discounted, and while
there was a slight reaction from the
best prices, no material movement re-
suited from its publication. The
great feature of the day was sill
yer certificates, for which there
were large orders in the market from
London. This served to stimulate
large trading in them for domestic ac-
count, and Oh very large transactions
the price was run up from 1l5% to
1l7L, though a fractional reaction fol-
lowed later. The railroad list was
quiet in all its departments, but the
strong tone reached everything with
the exception of Missouri Pacific, which
l1ORtu iii llllOuSH tlS t'SCoACiis eiV ~
almost alone in closing lower. Canada
Pacific was the strong feature, with
Mexican Central and one or two other
specialties, but the advances scored in
the active stocks were confined to frac-
tional amounts IN all cases. The bull
feeling was very confident, and buying
on limited scale In the absence OF
offerings of any amount served
10 carry everything up, and in
many cases the highest prices of the
week were touched. The close was
steady after partial reaction. Railroad
bonds we're even duller and more feat
nreless than usual, and the transac-
tionS call for no comment whatever.
The tone was barely steady, but no
change of Importance occurred in
prices. Government bonds have been
dull and steady. State bonds have been
dull and neglected. The exports OF
specie from the port of New York last
week amounted to $56S, 800, OF which
$40, 500 was in gold and S527.S00 silver.
Tue imports of specie for the week
amounted to S279, 129, of which S145, $50
was in gold and 1882. 149 silver. The
Post SAYS: 1.-The evidence that there
had been so large a withdrawal of
money as to show decrease of
over SS,UUU,UUU Ill tHO dFCldSC VI
deposits, and that so large
an amount had gone out in specie and
legal tenders was an unpleasant sur
prise and gave the stock market con-
siderable setback, which is likely to
show more in the prices of stocks on
Monday than the fractional decline
which it caused during the fifteen min
uteS of business after the bank state
ment to-day. All this week stocks have
been gradually recovering from the
shocks received in the last half OF last
week from the bad crop reports, the
New York Central strike and the bad
bank statement of last Saturday. At IL
O'Clock to-day there had been general
recovery of 21a to points on all
the active stocks from the low
prizes of last Monday. Part Of this
is likely to be lost again on next Mon
day by realizing sales to secure profits
B ut with London as a leading factor, it
only requires prospect of an easier
money market here to result In an i'm
portant farther advance in stocks. All
other conditions than that OF the money
market have improved in the last week,
and except for that one cause of heSita-
ton there is an apparent increasing dis
position to buy stocks for all advance.
The total sales of stocks to-day were
1917 shares, including: Atchison,
$3.50: D., L. & W., 1880: Louisville &
Nashville, 3.1S1; Missouri Pacific, 8, 740;
Reading, 1900; st. Paul, 5,4S5; Union
Pacific. $780,