St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-07
FINANCIAL.
New York.

NEW YORK Oct. 6.-Clearings. Ss7. s19..
GA; balances, 81, 76S,924. Money on call
easy, ranging from 4 to per cent, last loan,
per cent: closing offered at z. Prime mer-
camille paper. 5s4@7. Sterling exchange
quiet and steady at at ST. So for sixty dav bills
and 81. 81 for demand. The stock market to-
day was more active than on any single day
for long time, and was feveriSh and irreg-
ular throughout, with heavy drives by the
bears against few stocks, with full ana ma
terial rallies in most of the list leaving prices
at the close irregularly changed, with pre-
ponderance of losses, which. however are
generally for small fractions only. TIE shorts
went in TO cover at the low range of values
and smart rally was the effect in the early
trading, the improvement over the opening
figures extending to Is per cent with Bur
lington and the grangers leading in the up
ward movement with Union Pacific, North
American and New England following.
There was undoubtedly good buying i'll the
market also, as some OF the strongest houses
on the street, including some prominent
banking firms. were buying heavily. The
news of the DAY was generally of favor
able nature. After the covering demand
was over the bears made a specially severe
drive against Louisville & Nashville and
North American, with Sugar Refineries
and Union Pacific following The de-
clinics established from the best figures of
the forenoon reached 2la per cent and Lack
awanna was sold down 10 14ll2 on seller
three days options. The new buying came
in at this juncture however. and the upward
movement which followed was particularly
sharp, equaling the downward movement in
suddenneSS and more than eQualing it in its
extent Dizziness at times marked the trad
ing, but the business done was generally on
large scale though few large lots changed
hands. Toward the close few belated Dor
roWers came in and bid up the rates for
money. though it hada more the look o t ma
nipulatiou for effect than1anything else, and
after ruling at from to 3 per cent through
out the day the rate on call was run up to z
per cent, at which figure the last loan wss
effected. This had its effect in the final
dealing and some reaction from the high
figures was made. while the trading again
fell away. and the close was quiet and fairly
steady at close to the opening prices in most
of the list. The final changes are generally
insignificant fractions. but Louisville shows
the only important loss, 21s per cent, while
Reading and Missouri Pacific are both
up ! per cen cent. The treasury pur-
but the price fell away cent for
certificates. Railroad bonds shared in the
revival of activity to day, and the sales
reached 81 90, 000.which business was well
and widely distributed, the only active issue
being Atchison incomes which furnished
$l71. 600. There was also more movement
to the list, and the important changes are
more numerous than for a long time, and are
about equally divided between gains and
usual of late, are generally among the in
active bonds, while the active is
sues show comparatively unimportant
uctuati9Ds G9yeT r1aoen bonds nS
have been dull and without feature.
| The Post says: ''Of course the most I'M
| portant question in the stock market is as to
| whether the liquidation which carried prices
appeared to eliminate in a drop of from l to
| per cent. more in the last half of last week
has been complete enough to cause recov-
| cry. 1t is not now so much question OF the