St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-19
FINANCIAL.
New York.

new YORK, Oct. ls.-Clearings today $780,
week: Clearings, SSl2,971. 4U7; balances,
81 l63, ST. Money on call easy. ranging
from 2l2 to per cent; last loan, 2l2; clos
ing offered at 2Ia Prime mercantile paper,
5s@e; Sterling exchange quiet and steady
at .S0s4 for sixty-day bills and S4.s6I2
for demand The trading in the stock
market to-day clearly demonstrated the in
dependence of the manipulators of the street
from any and all circumstances which ought
legitimately to have bearing upon the real
values OF securities. II has been known for
some days that the bank statement would
show q further decrease in the surplus re-
serve which for the past two or three months
would have been sufficient warrant for a
raid upon the list. But the temper of the
street is so completely changed that notwith-
standing loss in the reserves of over
SIS, 900, and the complete wiping out OF
the surplus. the market to-day was strong
from start to finish, closing with material
gains in many stocks. The upward move
ment received also little if any aid from OUT
significant, but the confidence which has so
lately been developed was most noticeable
and all offerings were absorbed al advancing
figures. The traders were inclined to dis
count the bank stassment at the opening,
which was made on very quiet business at
Irregular changes from last nights figures
with majority of losses which, how
ever, were for slight fractions only
The strength OF the speculation became ap-
parent Immediately, however. and prices be-
gan to rise ali over he list with the tirst sales
and before the end of the first half hour
gains of from l2 TO rs per cent had teen es-
tabllshed, North American leading the up
ward movement Later there was q partial
reaction, but the advance was soon resumed
and the bank statement when issued, had no
more than passing influence upon quota
tons. All the activity was in North American
The advances were very uniform in the act
i've stocks. but the pronounced movement
was in Citizens Gas. of Brooklyn, which, aft
er retiring TO 81, rose to 10O34, closing at 100.
O gain of per cent for the day. The final
changes, with the exceptions not
ed, were fractions only, but almost
invariably in the direction of higher prices.
Railroad bonds were little more active than
usual of late, the total transactions for the
two hours being SCI 900, with the Atchison
and Kansas & Texas issues leading in the
trading. The market was again firm 10
strong and Atlantic & Pacific firsts rose "I2e,
to I6ssc. Government bonds have been dull
and steady. State bonds have been neglect
ed. The exports of specie from this port
last week amounted to S56,5l2, of which
imports OF specie during the week amounted
to 1865, $40, Of which S69,965 was in gold
and S-9S.914 silver. The Post says: The
noticeable point in the bank statement is
the decrease OF specie to S4,737.7Oo
and the decrease of deposit is S3,2-4, 80 >.
In regard to the great decrease in "specie''
1t must be remembered that gold and silver
certificates are called Specie and that in
default of supply of old currency these are
sent to the interior for general circulation.
In SO far as the movement of specie or legal
tenders TO the sub-treasury is concerned,
there is reason 10 believe that next week S
bank statement will show large decrease,
owing to tue decrease of imports this week.
The percentage of the loans TO the deposits
this week is l0Ul2 per cent, against 100 last
week, 81 in the week to Oct. 4, 9hss in The
week to Sent. %. lOUl2 in the week to Sept.
90, and 1922 in the week to Sept. l3. The
Guiding Atchison 1868; North American,
1890; Northern Pacific preferred, 4,9uO;
Reading, $40; Richmond q West Point,
1904; st. Paul, lO,5l5; Union Pacific, 4 700.