St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-04-03
FINANCIAL,
New York.

New YORK, April 2:.Clearings, S120, $685.,
easy, ranging from 4 to 6 per cent; last loan
5; closed offered at 4. Prime mercantile, so
81. S4s4 for sixty-day bills and 81. s6s4 for
demand. The stock market to-day was, as
far as It's tone goes. repetition OF that
yesterday, but there was decidedly more
activity and the strong tone was much more
pronounced. There was more disposition
shown to buy for the long account than for
amonth past and the bulls were much en-
couraged by the evident buying of the Read
ing pool, which was accompanied by a
material rise in the stock and some others.
opening and the price Of the stock was run,
up from 4O75 to 4214, though it took two
spurts to accomplish this result The other
strong, and Lackawana especially was largely
traded in at advancing prices, and tonight it
had recovered 112 per cent of its dividend.
The most significant movement of the day,
the other Vanderbilts, moved up rapidly on
large business for that stock, on the report
that the Vanderbilts had secured control of
the Cincsnnati, Wabash & Michigan road,
which would be operated by the Big Four,
and that traffic agreement had been formed
with the Mackay system, which would be of
benefit to both parties concerned. The up
ward movement made good though slow
progress through the whole list, and almost
everything traded in to-day shows gain at
the close. The money market worked easy,
though rates on call were again run up to 6
per cent but there was no squeeze, and funds
were offered at per cent at the close Mis-
souri, Pacific was the only weak spot at the
opening. but it is only Y per cent lower this
evening than last night. AS usual, there
were some specially wide movements among
specialties, and Tennessee Coal preferred.
Chicago Gas. Evansville Terre Haute
and others made material gains. There was
Some disposition among the traders to sell
the market after the mornings rise, on the
theory that the coming holiday will in
terfere with business but the impression
made by such sales was not appreciate, and
the covering done Offset it with something to
spare. The market closes dull, but firm to
strong. and generally at about the best prices
of the day. The list is almost invariably
fractionally higher tonight. while c., c.. C.
d ST. Louis rose 112 and Reading LA. The
railroad bond market responded to the i'm
proved feeling in the street to-day, and
showed not only more active business, but
also more decided firm tone, and while the
final changes are generally for small frac-
tons, there were more important advances
than for two weeks past. The sales of all
issues reached S1,616.OOO, and the Atchison
ing $2S5 200. Government bonds have
been dull and steady. State bonds have
been dull and steady. The Post says:
There appears to be ground for the
belief that the so-called Mackay system Of
roads in Illinois, which comprises the Ev-
the Chicago. Wabash & Michigan, the Louis
vile, Evansville q st. Louis and the Evans
vile & Richmond, has been taken into the
Lake Shore Vanderbilt system by the sale of
a controlling interest in the stocks of the
roads. The effect was to make an advance