St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-28
FINANCIAL.
New York.

NEW YORK, Oct 21.-Clearings, SSI,127.-
973; balances. S4,55S, 395. Money on call
easy, ranging from to per cent; last loan
8: closed offered at 4. Prime mercantile
paper 60S. Sterling exchange quiet and
steady at 81. 81 for sixty-day bills and 5 .s5la
for demand. The stock market to-day re-
celved the benefit OF the unexpectedly favor
able bank statement of Saturday and the i'm
proved temper in London. The foreign
houses were considerable support to the
market. especially in the early dealings, but
the bulls have become so diSheartened by the
long and rapid declines of late that they
made little attempt to improve quotations.
and the bears, who are now as aggressive as
at any time. Notwithstanding the failure to
force further liquidation during the
pas ave week; were active ta" througho9t
hammerng operations we're rewarded
by the marking of lower quotations. Sugar
Refineries. however, continued to be the most
prominent feature OF the market, and story
that the attorney general of this state had
rejected the final plan of reorganization had
the effect OF opening the stock off per cent
Before the opening, however. and Immediately
after there was flood of information
gathered from different sources which
thoro ughly discredited the story. and cover
ing of shorts in the certificates went on at a
rapid rate, with the result Of lifting the price
of the certificates before the close 10 .24,
at which point almost all of the loss of the
early portion of last week had been recov-
cred. The bears, in the meantime, pegged
awav at the railroad list and made a specially
of Burlington Il Quincy, the attack be-
ing accompanied by a renewal Of
the old rumor of an issue of
bonds by the company, though nothing
new was learned about the matter. The
story, however. served its purpose as an aid
to the hammering of the bears, and per
cent WAS knocked Off of the value of the
stock by 2 p. m. There was also heavy selling
of Chicago Gas on orders oStensibly from Chi
cago. and new rumors of trouble among the
companies composing the trust were circula-
lated, and before the close ga per cent had
been taken from the price of the stock. The
general list however, failed to sympathize
with these movements ia any marked extent.
and, while the opening decline in Sugar and
the steady pressure by the bears upon the
leading shares caused Slight depression in
the forenoon, the improved feeling in
the last hour, with the desire to
cover shorts, which became more pro-
nounced, together with the sharp rally in
Sugar, helped 10 recover the losses in the
railroad list, and final prices are generally
upon slightly higher level than those of the
opening The bears brought considerable
pressure to bear upon Union Pacific. Louis
vile & Nashville, Atchison and North Amer
lean, but while considerable business was
transacted in those stocks no material de-
cline was made at any time. The market
closed fairly active and strong at the tm-
provement, although Sugar reacted over l
per cent III the final dealings The list to-
night shows large majority Of advances.
which are generally for small fractions,
but Sugar is up 37s and silver GER
.tifcates IA, while Chicago Gas is