St. Paul daily globe., 1893-08-27
FINANCIAL.


NEW York, Aug. 26.-lt was day
of Improvement at the stock exchange,
quite number Of the prominent issues,
such as New York Central. Lake Shore,
Erie, Sugar, st. Paul, Burlington &
Quincy. Rock Island. Canada Southern,
Northwest, Manhattan, New England.
Northern Pacific common and preferred,
Reading, Pullman Palace, Union Pa
ei6c and Wabash preferred selling at
the highest point of the week. At the
top notch the stocks named showed
gains for the week Of 2 TO per cent.
{ The main cause for the advance
to-day was the general belief
that the bank statement would
be favorable. The expected hap
pened. The banks added s5,303, 125
to their reserve, but are still ST, 737, ,675
below the 25 per cent required by law.
= ne exhibit was even more favorable
Than it looked, for the banks gaining
s5,354, 500 in cash and SIT, 800 i'm depos-
its, loans were contracted So, 932, 500,
while circulation increased Sl,042, 900,
making the total increase this month
.S2,G44,O00. In a general way the market
was strengthened by the recent arrivals
of gold and a conviction that the Shef-
inan bill will be repealed. The rise in
duced some selling to reallZe profits, but
at the close the list was strong and firm.
The net gains for the day ranged from
q to 2jl2 per cent. tho latter i'm Lake
Shore; Western Union and New York
Central made fractional losses. The
total sales of listed and unlisted stocks
were 1926 shares.
NEW YORK, Aug. 26.-The Post says
a. a nOTiNnaIhin faltlrrn ,,f b-ax, IL ~,
ing today has been the improved feeling
in several trade centerS. The railroad
returns and the figures of the weeks
grain shipments show that the better
feeling is not at ali due to freer money
accommodation. improvement in that
| market is hardly perceptibe. Twenty
railroads reporting gross earnings for
last week show upwards of II per cent
decrease from 1892. Wheat exports for
this week, as reported today, have
fallen OFF l,l69,300 bushels from last
weeks record, and corn exports
| have decreased nearly one-half. The
ShrInkage IN the country's clearing
house exchanges, which fairly reflect
j business activity, is- enormous. The
| first week in August showed decreases
in total clearings, as compared with
| 1892, of only 6 per cent. The second
| week showed 20 per cent decrease. The
! third. "A per cent. and this week the
| falling off is more than SO per cent. All
| these unpleasant facts, however. point
! i'll one direction, and plainly suggest
| That the cOuntry'S production and dis
| trlDuti0n of commodities is getting
| down, so TO speak, 10 hard pan. Such
reduction OF available stocks as
| every industry has lately wit.
| messed cannot possibly go much
] further. The iron trade, which
I was the hrst to curtail production, is
naturally the first to res ume activity In
certain directions to meet immediate
and peremptOry demands of trade.
! Other industries must necessarily fol-
! iow SUITE, currency or no currency. The
imported gold has simUlitied the prob
| lem to some extent; the repeal of the
! silver law, through general restoration
OF confidence, would solve it. But in
| some way, proper distribution of com.
! mOdltleS must be resumed. and that
| very soon. ny makeshlftS if not by the
normal machinery of trade. We are
very far from the barter period of 1857.
! Until confidence Is restored, however,
| the process will be slOw.n
Railway and miscellaneous bonds
were active and strong. The sales were
! $4,000. AtchisOn seconds rose to 81,
+; Atlantic & Pacific fours "a to so, and
| Allegheny consol 1irsts 211G TO 7215, Chi
| eago Gas firsts to "a, Erie consol sec
! onGs to 67. Iron Mountain fives % to
! 50, Kansas i Texas fours to 7314, On
| tario Il Western fours to 49,, Reading
fours l to 63. Reading firsts l to 2522..,
Reading seconds ~ to 1s, Richmond
Terminal IS trust receipts. 12A to 1917
| do IS, Z to 47(045; Texas Pacific lists, /
] TO 81; Savannah u Western first trust
receipts, 5 to 3S: Western Union 5s, 2 10
! ~. and West Shore coupon As. to 95115l.
! East Tennessee conSol 5s fell l TO S3,
and Pittsburg IL Western Is to ~.
! Chicago & Northern Pacific lists rose
4 il to 4l1a, and receded to 3S3I039.
Northern Pacific, ,cOnsols 5s, after adj
vancing to 81. fell to 2915.
4 Louisville, Evansville ~ ST. Louis
4 eoBsol IS were 40 bid against 20 the last
| transaction.
The Total Sales of Stocks
today we're $500 shares. including:
! Burlington & @. 4.00ONorthern Pacific 33ON
! Chicago Gas. -. &. 500 st. Paul .... I0, COG
\ I oalyo