St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-05
FINANCIAL.
New Work.

New YORK. Oct. 4.-Clearings, Sl2S.594..
167; balances. S),31S,028- For the week:
Clearings, S764, 593, Ill; balances, S34, i So
1877. Money on call easy, with all loans
ercent, closing offered at 3. Prime mer-
camille paper, 534@17. Sterling exchange
quiet but firm ct at SO for sixty-day bills
and 81. STA for demand. The stock market
was comparatively active, but the activity
was OF the usual sort, made entirely by the
operations for decline, and the weakness
was most pronouaced, approaching nearly
to complete decentralization, and the losses
incurred during the short session of
with those of any full day of recent date. The
bears made what would seem 10 be one final
effort to shake out long stocks, and no doubt
but that considerable liquidation was accom-
pllshed III all portions of the list, with the
single exception OF Lackawanna, which was
the only stock which received any support
whatever. The cry was "a bad bank state
ment," and after the issue of the statement.
which was made unusually early the most
determined drive of the day was made and
the downward movement which had been
heaVy throughout, was perceptibly accel-
Grated. The opening was made at lower fig
ures. the losses from last nights prices eX-
tending generally TO u per cent; but
of lis per cent The downward movement
went but little farther for the time being. the
trading element starting to cover, but the
movement lacked vim, and later all those
crowded the market with an avalsnche of
short stocks, which broke the market badly,
especially in the grangers, Southwesterns
and the stocks of the Pacific roads There
was no cessation of the pressure. which
lasted right to the close, and, although there
was slight reaction in the final dealings,
the close was active and weak, practically at
the lowest figures. The excessive weakness
in the prices of railroad stocks continues to
be out of keeping with the actual values as
for
the month OF September, just in. show, as COM
pared with the corresponding month of last
year, great improvements, and the gain in
Colorado Midland being % per cent,
ereases for the fourth week of Septem-
Der are: St. Paul 93l, Iowa Central al and
Wheeling Il Lake Erie 40. The final losses
for to-day are: st. Paul 2Is. Wheeling &
Lake La Erie preferred rs, Union Pacific 1s4,
Louisville Nashville, Rock Island & Bur
llngton & Quincy ia, Northern Pacific pre-
ferred 11s. North American. Wheeling & Lake
Erie and Western Union l per cent each.
Railroad bonds were moderately active and
while the tone of the market was heavy there
was no sympathy with the demoraliza-
ton, which marked the dealings in
stocks. The final changes are few
sso7 1 nna poo5 ana co on business Of
at 94ss. Government bonds have been dull
and steady. State bonds have been dull and
barely steady. The exports OF specie from
the port of New York last week amounted to
S312, 1856 of which SS5, 1856 was gold, and
S226, $50 in silver. The imports Of specie
during the week amounted to SLY. 393, of
which S27. 199 was in gold, and $50, 2O4
silver. Petroleum opened weak OH a slight
pressure to sell, but moved up as soon as the
pressure was removed, and closed steady
The Post says: Disbursement of over $685.
600, 600 by the United States treasury in the
month of September, has put the question of
money stringency at rest. except as the
money market may be affected by the hoard.
Ing OF money, owing to the apprehensions
above referred to. This morning traders sold
stocks, because they declined yesterday, and
partly because they expected a decrease in
the reserve of the bank statement and yet
neither OF these things were any legitimate
reason Tor decline in stocks under the pres
ent circumstances, first, because stocks had
already had such a great decline that they
must be near the inevitable turning point,
and next because money was still freely Of
tered for loan on call on stocks this morning
at 3 per cent. The declining prices have I'M
doubleday caused further and further liqui-
dation, and the liquidation has caused fur
ther decline. 1t is, of course. apparent that
TINS cannot go on always without sharp re-
action. There have as yet been no failures
in connection with the stock market and
none rumored. The total sales of stocks to-
day were l91.106 shares, including: Atchi.
son, Id, 2l0; Delaware, Lackawanna & West
ern. 6, 100; Lake Shore, 5000; Louisville &
Nashville, S,12O; Missouri Pacific. $3.50;
North American, 6,47O: Northern Pacific
preferred, 9,40O: Reading 4473O: Rich
mond West Point. 1850; ST Paul, 16 26O;
Union Pacific, Is, 075.
STOckS-CI OsJNc pprrEc