St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-09
FINANCIAL.
New York.

Cdll CQOJ uO lOouO. ClOOluS OhClCo CT +
per cent. Prime mercantile paper,
$685.. Sterling exchange quiet, but
firm at S4.S4I for sixty-day bills. and
S4.S6% for demand. The stock market
to-day, outside of the trusts and one or
two specialties, was an extremely limited
one, and the dealings and final changes
for the most part were without Signifi-
cation. The disposition at present is to
await the action on the silver bill, and
the trading was to-day confined al
most exclusively to the room traders.
who were inclined to hammer stocks
in the early dealings on the expectation
that the bank statement would show a
decrease III the surplus reserve. The
early demand was sufficient to cause
slight advances in some stocks after an
irregular opening, but the pressure
later wiped out these gains, and prices
IN most stocks retired slightly below
those of the opening. Louisville &
Nashville was most conspicuous among
the active stocks for its decline, but it
was only small fraction. st. Paul and
Atchison followed in point of activity,
but moved over very narrow
range, the excellent showing of
the latter for May having no influence
whatever. Among the specialties
Quicksilver was the only one showing
any life, and the common rose 13sS. and
the preferred II, though both closed
little off from the best figures. The
trusts were the only active features to
the market, and Sugar, feveriSh and IT.
regular, was not so active as usual OF
late, and finally scored material i'm
Opening up ~ per cent, at 1870, it re-
,.1ati sod tC 1881 ond aftor coma Uin1Qnt
fluctuations between the latter figure
and SO36c, it closed at S0Ac. Chicago
Gas was specially strong, and rose 2
per cent on a very moderate business.
The close was quiet and firm
and insignificant changes. Sugar rose
%, Chicago Gas 21s. and Quicksilver
preferred l per cent. There was about
the usual amountof business in railroad
bonds, the sales to-day aggregating
1914, 1000, while the market showed the
same lack of movement which has char
acterized the dealings of late, even
though the general tone was firm. Gov
eminent bonds have been dull and firm
for the AS. State bonds have been
neglected. The exports of specie from
the port of New York last week amount
ed to. SIS. POP, all gold, consigned to
South America. No specie went to
Europe. The imports OF specie during
the week amounted to 1859. 342, of which
sS9, 900 was in gold, and $3l9,433 silver.
The Post says: The net results of this
weeks business was recovery of more
than half of the previous weeks de-
cline in the majority of stocks. Last
week nearly all stocks declined from %
to per cent, except the Vanderbilt
stocks, which were an exception to the
general market and advanced from to
2points. The immediate causes of the
decline were the break in Sugur Trust,
Oh which the net decline for that week
was II points, and the decision against
the legality of the Chicago Gas Trust,
in which the net decline for that week
was 10 points. This week Chicago
Gas has recovered points, and
Sugar Trust had recovered 5
points to "a ON Friday, but
to-day lost the recovery. The price
of Sugar Trust is the subject of the
boldest kind of manipulation, and is
apparently as unsettled now as a week
ago. The opinion expressed in this col
umn week ago that the insiders were
the heavy sellers from 80 upward,
holds good for this week. except that
the selling was from 70 to so and up
ward. The price of Chicago Gas has
apparently settled at about where it
will be firmly supported, and will prob
ably remain comparatively steady.
After Sugar Trust and Chicago Gas
Trust the most remarkable movement
in prices this week was the silver
bullion certificates, which closed
last Saturday at 1919, and have
advanced pretty steadily through the
week to 1868 at eleven O'Clock to-day.
The railroad situation has not changed
during the week. and the latest reports
of the earnings show that the averag e
increase from II to IL per cent in gross
earnings over the same time last year is
still maintained, as shown by the re-
ported gross earnings of fOrty-fOur roads
for the fourth week of May at 1852, 333522
being an increase of 1851, 606 over the
same week last year. The earnings OF
the roads, and the general aspect of the
railroad situation are quite good enough
to results in further advance In prices OF
stocks and bonds, and especially tn e
lOW-priced stocks, as soon as money
becomes plentiful. as is almost certain
to be the case before the end of next
month, especially in view of the efforts
of the administration to get the money
out of the United States treasury. The
expectation of some kind of legislation
on the silver question has become so
general that any failure on the part of
congress to do so would probably cause
a reaction in prices in the stock market
for a time. But capital is so abundant
in Europe and attractive investments SO
scarce that such reaction would prob
ably be overcome in few weeks. The
total sales of stocks to-day were 126, 591
shares, including: Atchison. 3,490; Del
aware, Lackawanna & Western, 1900;
Louisville & Nashville, 7,100, Oregon
Transcontinental, 4,lS0; Richmand q
West Point, 1855; st. Paul, 6.410; Union