St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-28
FINANCIAL.
Now Work..

NEW YORK, Aug. 27.-Clearings, $780,
1873; balances, s5,400,117. Money on
call easy at 3(06c per cent; last loan,
Sc, closed offered at &c. Prime mer-
camille paper, 5%(@7c. Sterling eX-
change quiet and barely steady at
S4.s24 for sixty-day bills and S4.S51a
for demand. The conservatism of OPP
orators in the stock market was Illus
trated to-day by the cessation OF the
upward movement i'll progress last
evening, and which gave promise Of
reaching material proportions before
long. The calling out of the 1000
men on the New York Central by
the leader Of the Knights of Labor
served to again throw the market into
the waiting mood. Money is easy now,
and bonds coming in under the circular
of Aug. 81 in satisfactory amounts. The
temper of the speculation, however, is
now so timid that any slight cause
seems to arrest its course, and the OPP
portunity of the bears is prolonged in
definitely, although the tone of the
market is undoubtedly strong under the
surface. The market to-day was again
dull, although there was some activity
in spots, but prices after the opening
losses of from 4 TO q per cent. moved
up and down within narrow limits in
everything except the half dozen lead
ing stocks in which there still remained
speculative animation. OF these, Read
ing and Lackawanna were cOnsplcu-
Gus for weakness and Union Pa
cific for strength. The slackness
of The coal trade and the grow
ing substitution Of bituminous for an
thracite in manufacturing business wa
made the occasion for special pressure
upon those shares, and both scored a
material decline. Sugar was quite act
i've. and while fiuttuating widely
showed no marked change from last
nights figure. The operations of the
bears were aided all day long by exag-
gerated reports of extensions in the
labor troubles, and some drives were
made against the leading stocks under
cover of these stories. The market raj
lied slightly from the first depression
with the aid of London buying, but the
succeeding dullness again invited at
tack, and prices shaded off slowly until
well into the afternoon. when more de-
termined drive was made and Sugar. in
which some stop orders were uncovered,
Lackawanna, Reading, Rock Island and
AtchiSon suffered severely. Efforts to
cover made a sharp rally in the last few
minutes. but only in Reading was there
any material recovery of the previous
losses. The market closed fairly active
and firm on the rally, but generally at
close to the lowest prices. The final
changes show many material declines,
and Lackawaua is down 2, Rock Island
15s, Burlington II, Atchison l115, Can
ada Southern, Big Four and Louisville
& Nashville each l per cent. and the
others fractional amounts. Railroad
bonds. while still very dull. furnished
considerable of contrast to stocks in
showing a firmer tone than usual, and
while the final changes are generally
insignificant the few important changes
show a majority of advances. The
sales reached only S565,00O. Govern
ment bonds have been dull and
steady to firm. State bonds have
been dull and without feature.
The Post says: THE statement of the
Reading railroad and the Reading Coal
and Iron company for July and for the
eight months ended July 81, is not a
very encouraging exhibit for the hold