St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-16
FINANCIAL.
New York.

New YORK, Oct. l5.-Clearings. 1927, O5S,-
6s3; balances, S6,552, $50. Money on call
easy, ranging from 1 to 6 per cent; last
loan a. closed offered at 3. Prime mercan-
tile paper 534@7l2. Sterling exchange quiet
and fairly steady at 81. SOLE for sixty-dayf
bills. The stock market to-day was again
moderately active, but showed marked con-
trast in its tone to that of yesterday, being
strong throughout the forenoon and the lat,
ter portion of the afternoon, and leaving
prices materially higher all along the line
although the heavy losses in Some of tho
leading stocks yesterday were not made up.
The bulk of the business still is cOncen->
trated i'll a dozen or SO leading stocks
while the remainder of the list is compera-
lively neglected and The active interest i'm the
market is still that of the bears. The trad
ing to-day sufficiently developed proofs that
the heavy selling of London stocks yester-
count, and while the London market was
this morning responsive to our declines of
yesterday and the necessities of the case
compelled weak opening here, the losses
shown by the first sales were comparatively
slight, and Immediately the demand from the
shorts helped by some buying for foreign ac-
count, developed strong tone in the market
and all the active stocks moved steadily, the
gains during the first hour being N ost uni
form and before noon advances over last
evenings figures of from Ia to Il
per cent had been established. The
trading was unusually devoid of special
D.
parent weakness of the Vanderbilt stocks,
when all The rest of the list was advancing
Canada Southern and New York Central
were specially weak and each scored trac-
tional decline as the result of the days oper-
atoms. Lake Shore and &. c. c. Il st. Louis
on the other hand were rather exceptions,
and the latter especially redeemed itself in
the late dealings The upward, movement
came to an end toward noon when the
Traders went in for a short turn ON the bear
side, and while there was less animation and
no marked weakness anywhere in the list
prices slowly. but steadily melted away
until toward 2 p. m, when most
Wiped W out. The '. early I rnmors 0ee Of
a large interest which had come in to sup
port the market found few believers and
the hardening of the money rates also con.
tributed TO the downward tendency. Late in
the day, however, good buying again ap-
peared in the list, and again change il, the
temper of the speculation occurred which
sent prices in the last hour up TO and beyond
the level of the best figures of the forenoon.
wore along, and the close was strong on ac-
tive business and at about the best prices of
the day. one of the most remarkable move
ments of the day was drop in Pullman
S2.j4s4 at the close, the whole be-
ing accomplished on sales of only
1880 shares Delaware e. Hudson
sold ex-rights. and Jersey Central
ex-QlVluenu. Inc maj changes are all in
the direction of higher prices IN the active
list and Lackawanna and Louisville d Nash
vile are each up LIE per cent Burlington
1Ss c., &C. & st. L. IA. st. Paul and Union
Pacific each Ia, and the others fractional
amounts. Railroad bonds were little more
active, aud again displayed the lack of tone
which so lately characterized its dealings,
aud while there were sales of 81 .OSO, 90,
with special activity in the Atchison and
Reading incomes. the final changes of note
al uhn liz,
divided between gains and losses Govern
ment bonds have been dull, but firm State
bonds have been entirely neglected. The Post
says: The advance OF 13c in the sight
rates for sterling this morning is believed to
be entirely due TO disposition to discount
an advance in the Bank of England rate of
discount by transferring funds there to-day.
The movement itself, however. will contrib
sity for an advance by the bank tom orrow,
and some usually we'll Informed foreign
bankers are inclined to the belief that the
bank will not advance its rate. Money is SO
per cent in Paris), that the present higher
rates in London will draw money there
without an advance in the bank rate
above per cent. Otherwise than as
shows some effects of the great changes
which have taken place IN the import and
export movements of the last two weeks es-
pecially in the increase of commercial bills.
IL is TACT worthy OF altentlon, as indicating
greater change IN the monetary situation,
that the exports from New York in the last
week were the largest in the history of the
port. The total sales of stocks to-day were
rs. 76l shares. including: Atchison. IL, ,
6l5; Delaware, Lackawanna & Western, I6,-
62S; Erie, 1900; Lake Shore. s. 80; Louis
vile & Nashville, %. e32; Missouri Pacific,
3, 1855; North American. 1906; Northern
Pacific preferred, Is, 325; Reading, Is, 200:
Richmond & West Point, 3,91S; ST. Paul
% htn: Eninn Pacific 81 300