St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-01-07
nts Bu Lille Here Below He INDUCES in Globe Want Sd

21l per cent being knocked off lis price
III Il very short time. A sympathetic
decline in Colorado Fuel immediately
followed. On the other hand, Toledo.
Ann Arbor Il Northern Michigan and
the Green Bay stocks were again lifted
sharply. New England showed some
strength. although chief purchasers
were the traders. The market on the
whole was dull, but, in the face OF the
gold exports, remained firm throughout,
as The indications are that less Will go.
than has been predicted. The closing
was firm at or near the best prices as a.
rule, though LackawaAna was marked
exception, closing at its lowest upon q"
fractional decline.
The Post says: The surprise which
the large exports of silver at this time
seem to have excited in some quarters
Is not Justified by an examination OF
the years statistics. We are exporting
silver freely. at least half a million
ounces being reported as engaged for,
tomorrow; but this is by no means
above the years average. Our net eX-.
port of silver this year has exceeded the
record of any year since 1878, excepting
the three years 1SS5, 1889 and 1890. 1t.
is three times as large as the movement
of 1891. Our actual gross exports of
silver have, in fact, been quite as large
since the act of 1878 as they were be-
fore. Both the law of 1878 and the law
of 1890 were followed, first by small ex-
ports, when the price of silver was
high. and then by rapid increase in
shipments. when production again out
stripped our governments cOnSump-
ton, and the nrice declined again to
still lower figures. In other words, the
laws governing the trade movement of
all commodities have governed the
trade movement of silver bullion.
Bradstreet's weekly Wall street re-
view says: The beginning of the new
year finds the speculative market I'M
changed III respect to the limited and
professional activity which it exhibits.
The demand for bonds has alone CORE
sponded in any degree with the antici-
patton of q reinyestment of January
income collections. A slight DISPOSE
ton to purchase the better class of divl-
dend-paying shares has shown itself.
but the movement has taken no shape
which could encourage improving ten
denotes in purely speculative values. The
renewed ease of the money market, the
absence of any approach to furry IN
interest rates on the half-yearly shift
ing of loans and disbursements that
have been completed. and the partial i'll
sensibIity OF the street to the prospect
of further gold shipments are cOnvinc-
ing proofs OF the narrow condition or
speculation and the absence Of any pub
lie interest whatever. Special causes
have determined the movement of few
active specalties, Manhattan, Sugar
and Union Pacific being the most nota-
BILE of the few bull features, while apart
from the effects of bearish manipulation
in some of the industrialS, such as Chi
cago Gas and Distillers, the action of
Reading stock and junior securities has
been the great object of attention.
The announcement made on Thurs
day that as much as 100000 gold
would be shipped to France today was
not anticipated, the exchange market
ruling so low that the transactions i'll
question could only be made IN cOnjunc-
ton with the arrangement of exchange
between Paris and London. At the
same time 1t would seem that the appre
tensions the market has entertained of
sucn an overflow had partly dis
counted the effect. and the mar
ket was relatively steady in
the face of the announcement
FOREIGN participation continues to be-
restricted to the narrowest limits. The
LoCb lH0b q oAHONAi1 VI
Union Pacific branch line bonds have
been purchased by the representatives.
of the Dutch stockholders of the prop
erty Is regarded as a matter of more
than temporary interest. Whlle~the be-
lief that large foreign house has eX-
tended financial assistance 10 the Read
ing company is also interpreted as
indicating That European capital is
more inclined to interest itself III other
corporate securities.
The banner year for bank clearings
has just closed. The aggregate for
sixty-one cities was $62, 6S4, 348, 379, all
increase of 81 per cent on 1891. Only
twelve cities show decrease from last
year, most of these being in the South
west and on the Pacific coast. New
York clearngs aggregated $50, &c =, 49,
POI, 500 per cent OF the tOtal-a gain of
SO per cent OH 1891, but decrease of
2.1 from 1899. Chicago now holds
second place IN the volume of bank
clearlngS.