St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-18
FINANCIAL.
New York.


NEW York. Oct. l7.--Clearances, $780,
6I7,O42; balances. 81, 5o4.! 81. Money on
call easy. ranging from 2I2 TO 4I2 per cent;
last loan, 2l3: closing offered at 3. Prime
mercantile PAPER. ;'s4@7ls. Sterling ex-
change quiet and steady at S4Su4 for
sixty-day bills and S4.S6 for demand. The
stock market to-day was moderately active as
usual, hut the tone displa, ed was in marked
contrast to that of the past TWO months be-
ing decidedly strong and at times buoyant
and it became evident before the close of the
day that liquidation had been chhrged from
the long TO the short account. The buying
in most of the active stocks was excel
lent. Boston took its favorites literally,
ana London, which was inclined to sell
in the early morning, turned buyer later in
the day. The news of The day. especially
that from the Northwest. was very favorable
in Its tenor, and the decrease i'll the earnings
of st. Paul for the second week in October
was so slight that IL attracted little or no at
tentlon. There was great deal of talk over
the revived rumors of the transfer of the
control of the Reading to other influential
parties. and that stock became again active
and strong after long period of compar-
alive neglect. There appeared 10 be consid-
cradle marketing of both Lackawanna and
Chicago Gas although the points as dis
tributed to the street were all 10 buy Each,
however, closed at near to the opening fg-
ure. 7 he opening of the market was quiet hut
strong. notwithstanding the lower prices
from London and the selling of London
favOrltes, and while there was no excitement
of any kind prices moved up steadily during
the forenoon, and material gains were scored
in many of the leading stocks, the general
list. as usual, being quiet TO dull with small
fluctuations. Later. however, the sudden
rush TO buy Reading and 81. Paul caused a
marked increase in the activity, and the deal
lDgs betrayed more excitement especially in
Reading. ST Paul and North American. The
bears were on the full run all the afternoon,
ND fhn nrA
check from the opening TO the close, and the
slight concessions made from time to time,
ond especially in the last hour, were almost
wholly from the realizations of profits by the
room-lrading element. There are some
apprehensions about the bank statement to-
morrow, but they are princil ally OH the part
of those who are interested in lower range
of values, and the confident buying of to-day
indicates that those who are in position to
judge have no fear of further closenesS of
the money market The most pronounced
movements were in the sl,ecalties: and Man.
haitian. wi h a gain of per cent Citizens
Gas, Of Brooklyn, and some others of a like
caliber, scored gains from 2 % 4 per cent.
The close was active and strong at or about
the highest prices of the day. The final
changes are almost uniformly advances, aud
heeling d Lake Erie preferred rose 25s;
North American, pig; Burlington and
Pacific preferred 2; st. Paul and Sugar
] ": Northwestern, Pacific Mail and Read
ing, each lS8: Missouri Pacific and Union
Paciuc, ia; Atchison, Rock Island, Cleve-
land, Columbus. Cincinnati & st. Louis and
Wheeling d Lake Erie, each per cent, and
others fractional amounts. Railroad bonds
were quiet but sympathiZed closely with the
movements in stocks and displayed a firm to
strong tone throughout the day, although the
sales of all issues reached only $3.50 o.
Almost all the active issues scored material
gains and the close was strong. Govern
ment bonds have been dull and firm. State
bonds have been dull and barely st ady. The
Post says: Money is steadily growing eBsier
in London and this morning was down to 4
per cent for the first time in some weeks.
The market for Americans was consequently
stronger there to-day. and the result was
higher prices throughout the forenoon. This
market. however. continues narrow. because
merchants and capitalists are for the present
employing their money in active trade and
new enterprises. This leaves London as the
most important factor for the present in The
demand for already established dividend
securities. But the increasing supply of
money, both here and in London, shows that
this demand is likely to increase and result
in higher prices for securities. 1t is the
which still makes some spectators timid
about leading up with with stocks. Unusu-
ally large sums are being moved from one
bank to another. The total sales of stocks
TO-DAY we're 305,55T shares, including
Atchison. 3 ,720: Delaware, Lackawanna Il
Western, 4,3-6; Erie, 1920; Lake Shore,
1914; Louisville & Nashville, 21.43U:
Northwestern, 6.35n; North American. ~
1874: Northern Pacific preferred 1913;
Pacific Mail, $40: Reading $500; st.
Paul, 3O,5l0; Union Pacific, 10, $50.