St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-17
FIN .ANCEAE
New York.

New York, May 1e.-Bank clearings
to-day. $1G6, $3.50, 024: balances, S6.394, l16.
Money on call tight, ranging from to
10 per cent. Last loan, 5: cloSet off at 5.
The stock market presented about the
same amount of business to-day as yes
terday, but the reactlonary temper was
replaced by more confident feeling,
Notwithstanding the fact that the pro-
fessionalS and traders were still work
ing for further reaction. There was
great irregularity in the market. how
ever, and portion of the list was
strong, while another portion was de-
cidedly weak. and the course of prices
was subjected to sudden and sharp
changes throughout. To-day there were
also continued realiZatiOns, which.
with the aid of hammering of the
bears and the lack of support
in a few of the most prominent stocks
were sufficient to keep the market in
an unsettled and variable condition
throughout the day. The high rates
asked for money also caused many sell
ing orders In the afternoon, although
they did not go as high as yesterday,
and loans made to-day run till Monday.
The great buying power to-day was the
foreigners, VINO sent liberal orders in all
OF their fav0rites, with the exception of
Louisville u Nashville, and though the
pressure to sell at the opening was Sc
we're. higher prices resulted from the eX-
cellenJ demand. Union Pacific was the
feature of early dealings, and it adj
vanced nearly ~ per cent. the improve
ment G. being accompanied by ru-
nors of new developments which
will affect both the Union
anH Ca11t1a1 pootffn nd
general opinion was that a new issue Of
bonds to take the place of the govern
ment loan at lower rate of interest
would be the scheme. Oregon Trans
continental continued IFS upward move
ment. and buying IN New England was
attributed to rumOrs of changes III man
agement and new alliances. AtchiSon
was specially weak in the early deal
ingS, and Chicago q us continued TO de-
cline, beng apparently without sup
port. The coal stocks were quiet with
the exception of Reading, and all were
firm with the exception of Delaware IL
Hudson, which lost some Of its recent
advance, and is the only stock on the
list showing any material loss tonight.
The buying demand fell away after the
opening, and the traders again
got prices down in some cases below
those OF the opening, but firmer
tone afterWard prevailed and the best
prices were reached toward noon. The
money rates then encouraged the bears
and again prices reeeded. But money
was offered at 5 per cent in the last hour
and some improvement was made, the
market finally closing active and firm
generally at small fractional gain over
last nights figures. Union Pacific is up
u; Oregon TranscOntinental, II, and
Reading IS, while Delaware & Hudson
is * lower. Railroad bonds were still
active, but there was less strength in
the market than for many days, and
while the important changes in prices
are very few good proportion of them
are losers. The same influences con-
tinue todominate the dealings, while the
tladings extend to a large number TO
| been dull and steady. State
bonds have been dull and steady.
The Post says: 1.-THE unsettled condi-
ton of the market during the day was
due principally to the realization of
profits, against which. the buying for
foreign account was not sufficiently
heavy 10 prevent decline in prices, al
though London took quite ali amount
Of stock, also large amount Of bonds.
The efforts of those favorable to a de-
cline were assisted by the further de-
moraliZation of passenger rates among
the Western roads, but well-informed
railroad men claim to believe that the
end is approaching, and that an agree
ment Will shortly be reached, to be fol-
lowed by restoration of rates. The
higher rates for money also assisted the
decline in the price of stocks" The
sales Of stocks to-day were 57o.s5l
shares including Atehison, $3.50; Del
Shore, 1u.740: Missouri Pacific. 1900;
Northern Pacific preferred, $500; Ore
gon TranscOntinental. Al ,450; Reading,
1850: Richmond invest Point, 22,3l0;
Texas Pacific. 3G.10O; Union Pacific,
$3.50; Western Union, 3.075.