St. Paul daily globe., 1893-01-19
FINANCIAL.
New Work.

New YORK. Jan. S.-NOtWithStand-
ing the Slight set back given to the stock
market yesterday by the liberal realiza-
tons and the operations OF the bearISh
traders, the street was again today full
of confidence, even i'll the face OF
threatened outgO of gold on Saturday.
The increase in the note issue of the
Bank of France is expected to facilitate
the movement of gold to that center,
and the scarcity Of commercial bills
here preserves a stiffness in exchange
rates which keeps the nUrket up to the
exporting point, or nearly SO, all
the tune. To Offset these influences
there is remarkably easy money mar
ket, with practical assurance Of its con-
tinuance for a long time to come, and
rates are already down to an extremely
low figure. call loans being effected TO-
day at 2l5 per cent, while the feeling
that gold shipments are imminent pre-
vents a further decline, 4 light de-
mand exists. modified somewhat by the
present activity in Wall street, but
lenders are now seeking customers.
TIE stock Of silver at New York held
on certificates has been reduced to less
than 200, 900 ounces; the offerings to the
government are small and the price of
the commodity shows decided strength.
The stock market today paid little
attention 10 adverse Influences, and the
course Of prices, with few interruptions
and exceptions, was almost steadily
upward throughout the session. The
bullish feeling was again pronounced
at the opening, when prices were from
i to = per cent higher than last night.
London. vino was buyer Of the special
ties, sold freely yesterday, and the hope
was indulged that those sales will not
make any exchange. The features
in the early part of the day
were Manhattan and Sugar for
strength and DistilIers' and New
England for weakness, but even these
failed to remain so for any great length
of time. and the former, on good inside
buying, scored final gain Of per cent.
The enjOiming Of the registration of the
new issue of S2,000,000 bonds by the
New England was made the basis of an
attack upon it, which forced it Off IA
per cent, but renewed talk Of possible
contest for control between MeSSrs. Par
sons and Mcleod stitfened 1t up some
what, and most Of the loss was regained.
The operations among the induStriaIS
were again prominent for the decided
inside support given. and Sugar was
strong throughout, closing with final
gain of 27[ per cent. Cordage became
special feat ure very late in the day, but
was lifted 81.
Manhattan, under the stimulus of the
reported new privileges to be granted,
again tluctuated rapidly over range Of
5 per cent. but finally reacted from its
lowest point and was maintained upon
a considerably higher level tnan that of
last night. its final gain being only per
cent. Hooking Coal recovered portion
of its loss. and New FORK d Northern
preferred continued to advance.
Among railroad stocks there was
great strength in Louisville Il Nash
vile on purchases by London, and III
Northern Pacific preferred, which was
advanced on the covering OF operations
OF a prominent room operator. Their
gains were l3S@1$l per cont respect
lively. The effect of the threatened
outgo of gold was only to restrict trad
! iEg in tie general list. and even this
/ effect disappeared as soon as the temper
| Of the street made itself felt. The open
] inc advances were added 10 but slowly
| uutil late in the day, when the upward
movement became more pronounced,
! and everything moved forward, the
/ close being strong at or near the best
! prices Of the day.
The Posts financial writer says:
/ "L0nd0n'S interest today centered in
! the rrangcrS. the advance in st. Paul
| being on account of foreign buying.
i London is inclined to put emphasis on
! the news from Washington. particularly
| as regards the possibility of the passage
| OF the bill Iegalizing railroad pooling.
| Such bill, it is said, would help
! the granger roads most of all
| The reports from London showing
|
and that the activity was slowly
| spreading to the public were we'll re-
! ceived Wall street has resolved that
! the outlook for some legislation about
| the Sherman act is fair, and that the
general opinion of the country is favor
able to the SoundneSs of things Amer
lean. The influence upon the market
of the probability of lOng continued ease
in money is not to be overlooked.
Whether we call it initiation or lack of
confidence in investments not well
| known, the effect OF overplus of Idle
currency is toward higher prices, an
effect to be checked il may be by large
exports OF gold whenever such occur"
The Total Sales OfStOcks
| today were $4,000 shares, including:
Chicago Cas-. 6300lN. Pacific pfd.. .-2S. SOC
| Lackawanna. g. ), 500 Reading 300
d. 4 r. G. pfd.. ., 700 Rich. u W. P $500
| DiSlliing. ......f .fl,00lRock Island. 80. 440C
Erie a. Western. 4.200St. Paul 80. 80. $500
do pfd..... 4200Sugar ........ 81 00C
! Louis. IL Nash 7,90CU niOn Pacific. $500
Manhattan u, 800 Western Union. s. 400
New England. 1860
StOcks-CiOsIne.
Atchinson.. ..... 1884 Northern Pacific. I7a4
| Adams Express. .153 do pfd... - 4SSt
Alton tS Terra II. 1914 l. p. D. Il Gulf 1712
do pfd ..... $50 Northwestern. 1884
| American EX... lis do pfd. ..I45
! Baltimore d o =. 95S4 n. y Central 109sI
Canad Pacific S9l2 N Y. q n. Eng 50ss
Can. Southern -. SIZE Ont. & Western. 80
| Cen. Pacific -. 29is Oregon Imp. 1874