The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-11-25

ket We think 1t we'll to dwell upon the
strength shown by good railroad shares,
ana to express the opinion that the OPP
eratlonS or the next ninety days will be
largely confined to these securities The
banks do not gain in their reserves, which
aIter all Is natural, for the great pros
peTlty OF Western and Southern business
industries keep the currency at home
and check its return to New York. This
condition must continue for some time to
come, but while it may not be over
come by the industrial shares, there is
a good reason to believe that there will
pc demand for good railroad securities
that by its legitimate strength will over
come any ordinary restraints imposed by
money Railroad earnings and railroad
combinations and economies are on foot
In al directions, and with the immense
handled, the future of railroad Shares is
brilliant. We are glad to note the full
nilment of our predictions in regard to
Baltimore & Ohio, and while the pres
ent price Of the preferred is fully justified
by the condition of the property. we feel
that the advance of today has been rath-
er rapid
Bartlett, Frazier & Co, of Chicago, tel
egraphed the following to Edwards &
Bedeil, stock brokers and commission
Paul, Mimi: THE London mar
ket for American securities shows
considerable strength, and the prOnounc-
ed rally made at New York in the late
dealings of Yesterday has been duplicated
here, so that all issues are fully up to
parity. The indications are for increased
as an easier condition of the money mar
ket at New York will encourage bull in
t t5ins + here to take hold of standard is
in the street that further developments
are pending In regard to Southern Pacific
which will make the stock sell materially
higher. A good bank statement is eX-
pected tomorrow and there will probably
De some buying of stocks in anticipation
Of it.,'"Morse: Some realizing on the
sae q tang Ba the f b9e
gained game ,,$,5OOOOO from the subtreasury this
FOREIGN FINANc1A1-New York
Nov. 24..The Commercial Advertiser's
London financial cablegram says: 1.-The
markets here were hating today, the vic
tory at Belmont being regarded as in
disliked, Today 915OOO was taken for
South America, presumably to pay for
horses and mules recently bought in Ar
gentina and Chill, whence, it is expected.
further supplies Of that kind will be OBJ
tanned. 1t is also thought that the drain
of gold to South Africa will soon be re-
sumed. Americans were the idlest this
week, till New York began to buy, caus-
ing strength at the close. There was a
slight set back in the street. London
bought Baltimore & Ohio issues, while
peake & Ohio and Southern preferred
NEW YORK MONEY-New York. Nov
A.-Money on call steady at per cent;
last loan, per cent; prime mercantile pa,
per. SOC; sterling exchange firm, with ac-
tual business in bankers bills at 81 8534 q
sixty, days; posted rates, $4.8Sa4.S21% and
$4.S61a04:S71A; commercial bills, 81. SOI; sill
yer certificates, 5S24@591zc; bar silver, SOC;
Mexican dollars, 471bc
TREASURY STATEMENT-WaS hing-
ton, Nov. 24.-Todays statement of the
treasury shows: Available cash balance,
$294,51 1897; gold reserve, $243, 1890, 467.
BANK CLEARINGS
st. Paul, 1885,, 641 Sc.
Minneapolis, 81, 099, 296.
Chicago, 500, 400, 1853
New York, $171, 1850 430.
Boston, 81, 101, 100