St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-01-30
FINANCIAL.
New York.

New YORK, Jan. 29-Clearings, S135. 917.-
49,; balances, $3.50, 221. Money on call
easy, ranging from 2l2 to 8 per cent: last
loan, 212 per cent; closed offered at Pc per
cent. Prime mercantile paper. 5@6I2 per
cent. Sterling exchange quiet but steady at
ST.. 1914 for sixty-day bills and S4.S7A for
demand. The reactionary temper which ap-
peared in the stock market yesterday became
foundations actuated to-day by fierce attacks
upon some of the leading stocks by the bears
gave the market an irregular and excited
tone. The distribution of the business was
much more even than during the past few
days, and not all Of the list was weak which
accounted for the extreme Irregular
ity of the market. The bears were
aided by the circulation, Of a
report that the Union Pacific and the North
western had formally Withdrawn from the
interstate association, and also by rumors of
large bank failure. which was proved to be
without foundation. Sugar refneries proved
to be one of the principal disquieting feat
ures. however. and right at the opening it
became evident that there was to be wide and
important fluctuations in the stock, as it
opened at 81 against 81 last evening, and
afterwards rapidly declined to 59l2 The
report was that suits were to be brought by
one of the organizers of the trust to recover a
large sum of money, and which would bring
the books of the trust into court. The stocks.
and soon recovered to something above the
opening price, though this improve
ment could not be held and it closed at some
thing off from that figure. The railroad list
failed to show such wide and rapid fluctu-
atoms, though some of the specialties were
unusually depressed. The coalers were re-
markedly we'll held, and Richmond and
West Point was especially strong, though the
only reason for the advance was, in all prob
ability, the very favorable report of earnings
on the Richmond & Danville. The grangers
were generally firm, though Rock Island was
sold off / " per cent ON the probable compli'
cations which might arise in the event of
the final disruption of the interstate associ'
specially heavy pressure and is one Of the
few stocks showing material loss as
result of the days business, it failing to
recover but slight fraction from the loves
point. The weak features among the special,
ties were the Chicago and Illinois stocks
which dropped rapidly, without apparent
cause, except that there is apprehension that
the dividend upon the preferred might be
passed or reduced, owing to the losses in
Cured by the strikes in its mines. The gen.
eral market was stronger in the afternoon.
but made no recovery of moment, and closed
rather heavy and quiet at the close TO the
lowest figures. There were few small frac-
tional advances for the DAY, but the great
majority of the list show declines, and Chi
cago & East Illinois preferred dropped 6, the
common 3l2, Sugar "a. Missouri Pacific,
Chicago Gas per cent. Railroad bonds
felt the weakness in stocks to some
extent, especially in the forenoon, when the
tone of the market was rather heavy, but
later 1t recovered It's usual strong tone, and
finally ended with more marked advances
than declines, though important changes
were few in number. The sales reached ST.
500. 009 The Post says: The heavy decline
in the East Illinois stocks, coming immedi-
ately uWon the heels of the announcement
of the practical consolidation with the
Evansville L. Terre Haute. which will GER
tainly be for the benefit of both companies,
naturally creates some surprise, especially as
it is known that in the last quarter the coal
business OF the East Illinois has improved so
much that it has at least earned that quar-
ter's proportion of the dividend on the pre-
ferred. But during two-thirds or the three
preceding quarters thert was continuous
strike in the companv's most profitable mine
at Brazil, and this, in connection with the
uufavorable character of both this and last
winter for all coal mpanies. makes it proba-
bic that the dividend on the East Illinois pre-
ferred, which under usual circumstances
would be paid in March, may be passed, or if
not passed. very much reduced. Government
bonds hay been dull and weak for the 4s
State bonds have been dull and without feat
ure. The total sales of stock to-day were
3G7, 24O shares, including: Atchison, 1857:
Delaware LackaWanna & Western, Is, 700;
Erie, 1o.53O: Louisville & Nashville, 1891:
Missouri Pacific, 25.9sU; Northwestern,
$50; Oregon Transcontinental s,S65;
Reading, %. $50; Richmond d West Point,
%, 719; st. Paul, 1884; Texas Pacific,
4, $50; Union Pacific, 1920; Western
Union a Dab