St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-03-26
FINANCIAL,
New York.

NEW YORK, March 25.-Money on
call easy, ranging from to 4 per cent;
last loan, 8; closing offered at 8. Prime
mercantile paper, 519@71a. Sterling eX-
change quiet, but strong at S4.S3 for
SiXty-day bills, and $4.S6 for demand.
The decision of the supreme court in
the granger cases yesterday, which gave
the market such lift in the last few
minutes of business, seemed to have
lost all of its influence this morning,
and not sign was left to show that
anything favorable to the railroads had
transpired. This Indifference to good
news, which has become so marked in
the street of late. helps to keep alive
the bearish feeling among the profess
sional element, and this morning,
with the aid OF some selling
by London and lower figures
from that center. prices were depressed
to a limited extent, though all of the
animation of yesterday had disappeared.
The raising of the rates of sterling eX-
of the general market in the general
indisposition to trade, which was as pro-
nounced as on any day during the past
week. The stubborn strength arising
from the scarcity of stocks in the street,
however, soon put an end to the demon
stration against the list, only Rock Island
and Sugar showing any real weakness
during the day. RumOrs of an adverse
decision in San Francisco on the sugar
case there led to the selling of Sugar
refineries, and it lost ~ per cent. after
selling eX-dividend of ~ per cent, and
although the story was denied the stock
failed to rally and closed at the low
est figure. Rock Island was fed
out to the market all day long, and
slow but steady decline took place in
the stock which, closed only shade
better than its lowest. Union Pacific
received some help from the favorable
report of the earnings for February, but
did not prevent the stock from sagging
off with the rest of the list when the
pressure was renewed again in the last
hour. Among the specialties Wheeling
& Lake Erie was prominent, but the
feature of the day was the sudden and
d Chicago upon the discovery that the
peared and a net gain of per cent
marked the days operations. After
the first selling movement was over,
the most intense dizziness again
settled down upon the mar
ket, and although prices were held
steady no feature of any kind marked
the dealings until toward the close,
when everything again gave way and
the lowest prices of the day generally
were reached. The close was dull, but
heavy. The final changes are generally
fractional losses and Tennessee Coal
and Sugar are each IA lower and Rock
Island II, while Louisville, New AL
bany & Chicago is up2 per cent. Rail-
road bonds were dull, only $970,000
changing hands and out of that amount
s131,OOO were Reading as. The weak
ness in stocks was reflected in the mar
ket and most OF the few important final
changes are losses. Ohio & Mississippi
DDS rose to 125. Government bonds
have been dull and steady. State bonds
have been dull and steady. The Post
says: The decision Of the supreme court
of the United States in the granger
cases. yesterday, which probably
helped to give the stock market an up
ward in turn in the last hour yesterday,
is one of great importance. In practice
it permits the railroads to ignore the
rates fixed until they are declared by
the courts to be reasonable" and i'm
plies protracted litigation instead of an