St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-26
FIN ANClAL,
New York.

NEW YORK. May 24.-Money on call
easy with no loans; closing offered at
3 per cent. Prime mercantile paper,
sore. Sterling exchange quiet and
steady at 1881 for 60 day bills and
S5.S5A for demand. The total sales of
stocks to-day were 100000, chareS, in
Guiding Atkinson, 1852; Delaware,
Lackawana & Western, 1900; Missouri
Pacific ?, 200; Northern Pacific preferred,
$500: Oregon Transcontmental, $500;
Reading, 900; Richmond and w. p, H.
$40: st. Paul, rs, 775; Texas Pacific, 2, $40;
Union Pacific 2, 400. The stock market
to-day was quiet, but developed
marked strong tone in the regular
list, with the result of clos
ing the majority of stocks frac-
tionally higher than last evening. The
operations were more than usual Of late
for professional account and those op-
orators were inclined to wait for the
bank statement, which was expected to
be bad one, as the absorption of money
by the treasury was estimated at 81, 000.-
900, while the net gain from the interior
was believed to be only 81, 100000. The
issue OF the bank statement. however,
showed a gain to the surplus reserve of
over Sl,O0O,000, and, as indicated by the
growing ease of money yesterday, the
banks are in Il stronger position than
for some weeks. This caused lively
covering of shorts, and in the
last half hour of business prices
advanced sharply, especially in
a few of the leading shares,
which have been sold short too largely
of late. The opening was rather heavy
under the sales of the professional ele
l. l,o rnor,lor lief iofn DIV
developed a firm tone. Notwithstanding
the fact that there was great excitement
in the Sugar refnerieS and sharp and
material decline in its price from 9019
last evening to 81. The stock was very
teverish throughout, but participated
in the later revival and recovered al
most all of the loss. DistllerS' trust,
however, was marked exception,
being advanced on the reported absorb
ton of opposition concerns, and prom
ised increase in the rate of dividends.
In the regular list the only stocks
showing any important movement was
st. Paul, which steadily appreciated
even when the rest. of the list were
sagging A few specialtieS showed
wide fluctuations, but the rest Of the
list were traded in over narrow range.
The close was active and strong at
about the best prices of the day. Most
stocks show slight gains for the day,
but Distillers' trust is up 81 and st.
Paul u. while Sugar is down 214. Rail
road bonds were quiet and displayed a
heavy tone throughout the session, with
the result of leaving most of the list
only slightly changed from last
changes were about equally di-
vided. The sales reached $651, 600, the
business being unusually evenly dis
tributed. Among those which are higher
are Richmond 81 West Point trust IS,
II. at 500. The sales of bonds for the
week aggregated 81, $4,000. Govern
ment bonds have been dull and steady.
State bonds have been dull and feature
less. Exports of specie from the port
of New York last week amounted to
SS4.545, of which S51 900 was in gold and
$50, 545 silver. The imports of specie
for the week amounted to $216,S5S, of
which $567 was in gold and $2l6,291
silver. The Post says: The market
was feVeriSh and unsettled during the
week, and the net result OF all
changes was to leave the majority
of stocks from a to 2 per cent
lower than week ago. The bank state
ment was more favorable than eX-
pected, and prices advanced IN conse-
quence. The announcement that the
Atchison had acquired the San Francis
co and full possession of the Atlantic Il
Pacific, was reflected in higher prices
for the San Francisco stocks, while
Atchison was only firm. The coal stocks
were lower, Reading, Lackawanna and
Delaware & Hudson having been down
1(02 per cent for the WeeF. The gran
gers and Southwesterns were only frac-
tionaIly lower, but the miscellaneous
stocks generally were higher. Railroad
earnings continue heavy, notwithstand-
ing the war in rates among the Western
roads. and there is reason to believe
that the reports from the West are con-
siderably exaggerated. The money
market. while firm, has been we'll sup
piled with funds, and the general tenn
per of speculation is bulliSh.