St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-09-23
FINANCIAL.
New York.

New YORK, Sept 22-Money on call easy,
ranging from TO per cent; last loan 3,
closing offered at 3. Prime mercantile
steady at $4SO4 for sixty-day bills, and
81. S4l2 for demand. The total sales of
stocks to-day were 2l9, 069 shares, including
Atchison. 1925; Delaware. Lackawanna Il
Western, lO,SUO: Shocking Valley, $3.50;
Louisville & Nashville 6,2p3; Missouri
Pacific. $3.50; North American, 1880;
Northern Pacific preferred $500; Reading,
$500: Richmond q West Point, 1928; st.
Paul. 49, 7SJ: Union Pacific, 1855. Not
withstanding the heavy outpouring of funds
from the treasury into the New York banks
last week. the gain in reserve as shown by
Saturdays average was so small that the
bears were given another opportunity to cry
about the scarcity of money. While borrow
ers had no trouble i'll obtaining accommoda-
tons at from to 5 per cent, there was a
marked lack of anxiety to buy stocks, al
though there was no apprehension but what
weeks to come. This long-continued apathy
of buyers, which has been the principal en-
couragement of the bearish attacks for
months again led to the bringing of con-
stocks which have been leaders in the mar
ket in point of activity of late. The
bears have ceased to cover shorts and
the traders for the time being take the short
side, and, as usual, buying is checked To-
day the grangers, and especially st. Paul.
were made again prominent in the efforts to
get prices down, the new Issue of stock to
pay tor the Milwaukee & Northern
having a depressing effect, while the
recent denial of q motion by the trust
was used against Chicago Gas with some
effect. There were material losses in the
forenoon extending to 2 per cent, but in the
afternoon these losses were increased not
outstanding some Intellectual efforts to rally
the market. North American, which seems
to have no support whatever, was then the
special object of attack, and before its low
est point was reached over per cent
had been Topped off of its value. The
prices of the day were reached in the last
hour. The weakness in the market seems to
come principally from the disappointment
on the part of some holders of stocks who
expected boom would follow Immediately
after money became easy. The bears. how
ever, are very active, and are adding to their
lines of shorts already large. 1t is estimated
that fully $40, 600 900 OF money is now in
the hands of investors as the result of their
sales of bonds to the government. The close
was quiet but weak, at about the lowest prices
of the day and North American is down
4, Union Pacific, 215: Rock Island. 2; North
ern Pacific preferred, Us: Wabash preferred
and Wheeling d Lake Erie, each. 13S; St
Paul, Louisville & Nashville ana Wheeling a.
Lake Erie preferred, each, 1H; Chicago Gas
11s, and Atchison, 1 per cent. Railroad
bonds were again dull. the sales of all issues
reaching only SIl7,OOO and while there was
considerable animation i'll Texas Pacific in
comes. no issue showed any real marked act
1vity. The tone was heavy but no material
losses occurred. Government bonds have
been dull and heavy. State bonds have been
dull and without feature =