The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-12-12


WALL STREET GOSSIP-New York
stock gossip, reported by H. Holbert &
Son. bankers and brokers, 341 Robert
street, National German-American Bank
6Uild2g St. Pa Md Strong Rad sturfg1 1rtbeT
violent decline in many of the leading
speculative securities. and .industrials
have weakened materially, while railroad
The so-called wire houses sold heavily
this morning, and 1t was very evident
from the pouring out of stocks that eX-
hausted margins were to blame This
state of things may be renewed later in
the week, but today's selling has no
doubt cleared the air somewhat. There is
on industrials. and no very large amounts
on railroads. Currency returns but slow
ly from the West, and the banks still talk
very poor. There is no prospect of any
airy disbursements have been made and
the funds have gone through the usual
channels and returned here: 1t cannot be
that bull5narket is possible during the
balance of the year but we think re-
covery from today is probable We sug-
gest purchases for a quick turn, only TAX
ing the usual profit, when offered"
Bartlett Frazier & Co. Chicago, tele-
graphed the following to Edwards & Be-
dell, stock brokers and commission mer-
chants. 10 Endicott Arcade, st. Paul,
Mimi: Hooper-'We have only one view
on any rally .'-Pogue-"S Stocks bought
now vii Ghdoubtedy show profit before
very. definite feeling in the minds of a
number of bankers in this city that the
treasury action, looking to the. relief of
the money market is close at hand. -
Morse-"General talk of another bond Of
fer by treasury. Traders seems to be
sellers again on the recovery; &C: I:
Hudson-"Advise purchase of low-priced
industrials for cash. not on margin. -
w. w. Price-'Purchases made on the
present basis of price ought to show
good profits. -HudSon-"Sel Sugar
around 140. -. NJ. Martini see some
good buying in certain stocks. c. l..
Rahbone has been buying ST. Paul and
Donald Gordon & Co. are buying Atchi-
son preferred
FOREIGN FINANCIAL-New York.
Dec, 1.-THE Commercial Advertiser
London financial cablegram says: The
markets here were upset by the Stormberg
disaster and the money scare. Stiff
rates were eXacted for the carrying over
In mine shares, and bankers threatened
to charge 615 per cent for exchange loans
began dull on the TranSvaal news, be-
came steady though idle till the after
noon. and then broke on New York sales.
closing; heavy. There was further sharp
break in the street. The weakest features
were Southern Pacific and L. & N"
NEW YORK MONEY-New York, Dec.
!l--Mcney on call firm at 3&115 per cent;
last loan. 5 per cent; ruling rate, 10d1:
per cent. Prime mercantile paper, 51h06
per cert. Sterling exchange irregular.
with actual business in bankers bills at
S4.S6% "a for demand. and at $4.81G4S1A
for sixty days: posted rates, $4.S2Gl4 821b
and $4.8712: commercial bills. ST. S004 sou
Silver certificates, 59@60c; bar silver, 59%c;
TREASURY r. MISUNDERSTANDING
ton. Dec. 1LEToday's treasury statement
shows, Available cash balance, $27S, 1885,
SS1; gold reserve. S2A1. 325. 574.
BANK CLEARINGS.
st. Paul-S779 618.47.
1lnnea poiis-7&2, 347, SOL
Chicago-$25. OIL ,049
New York-S1O9 SAG. O59
Boston-$1 ,145, 692.