The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-09-22
The Stock MARKETS.
FINANCIAL SUMMARY


Call money, New York ............
NEW YORK, Sept 21-The course of Sugar
today indicated that the long bear turn III
that stock has come to an end Tor the present.
Dealings in this stock continued 10 absorb
an important portion of the total transact
tions.
Efforts to hold the money rate proved
unavailing in view of the disparity between
the New York call money, rate and other
markets and cali -teans on the board fell to
per cent t-day. - AS a result of relief from
these importans reactionary tendencies, the
market was strong and recovered Guiie gen, r
ally from yesterdays decline. But the
strength was confined largely TO spots and e
market is still in the hands of profession
ais and reflects no outside interest.
There was till some apprehension that tie
rally in Sugar might be simply the result
of manipulation directed against large bear
account. The sudden plenttude of money was
also looked at somewhat askance and with
some remains the fear that a further furry
in call money might be possible. The fact
that money has been easy to obtain Tor sew
eral days in almost all markets, but not
in the stock exchange, encourages this feel
ing. But the call money market was I'M
able to withstand the influence of the various
agencies which have been at work TOR its
relief.
The subtreasury had another heavy debit
balance OF nearly 100000 at the clearing
house today. rejecting in part the present.
ation CT checks Tor the anticip tory payment
of the October first interest on goVernme MT
to the West through the subtTeasury 1eh
to $4,000 today and New York exchange
in Chicago advanced to only 10c d scount
There were further engag aments of gold in
London for import, resulting in a sharp rise
of y per cent to 1 per cent in the money
rate and of % and e per cent to 2BG2H
per cent in the discount rate in that m rkat.
The stiffening of the London money rate
begat dullness in the stock market tn re-
the heaviness extending to the American
group and resulting IN some selling for Lon
don account here. Except in one or two
instances, this selling was without much
effect
A number Of stocks. responded sharpl7 to
special causes. for instance, Manhattan
the return from Europe of the dominant
capitalist; Brooklyn Transit talk of tie
absorption of another line; General Electric
on the belief that it would benefit from
the recent combination Of electrical interests;
Leather pfd on covering of shorts who mis-
apprehended the meaning of the new leather
company announced yesterday. The coalsrs
Cotton OIL Rubber, New York Air-brake
and some ether specialties showed conspic-
uous advances. In the railroad list out
side of Northern Pacific dealings were not
large, but prices in a number of cases adj
vanced a point net. Last prices were the
best and the market was strong and most
active at the close.
Prices of bonds recovered In the late deal
ings from an early tendency toward de line.
Total sales 81, 610, 600. U. S. 5s declined
price
Total sales of stocks today, S95,1CO shares,
including 10 259 c. B. O. %, 6S5 Man; 81, ga
N. P; 6,O62 do pfd; 4,779 r. l; $50 L. P;
1920 ST. Paul; 6490 U. P. pfd; 4,6CO w. &
L. e; 1O14O cotton seed oil; 1880 Tobacco;
1882 Sugar; 1926 Leather pfd; 1900 Rub