The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-23
NEW YORK MINING STOCKS.

WALL STREET GOsSIP-Strong, stur-
gis q Co. wire II. HoIbert G. Son: There
mas been very good buying Of American
Tobacco and information that we have
gathered in the course of the last day or
two leads to the belief that both Amerf-
can Tobacco common and Consolidated
Tobacco are distinct purchases and will.
in the course Of six or eight months
being acquired by these companies Of
the entire tobacco trade, including the
manufacture of cigars, is nearly abso-
lutte, and under the existing taxation the
earnings of American Tobacco will ex-
coed 20 per cent per annum on the COM
mon stock, while a handsome dividend
will be earned upon Consolidated Tobac-
co common. We do not look for any
change in the rate of dividend on the
first or any dividend on the second but
the appreciation of the stocks will stand
IN lieu of the dividend. Steel stocks are
somewhat heavy and it is beginning to be
noted that the immense volume of these
securities in the hands of the public fur
nisheS an excuse for liquidation, many
brokers telling their clients they have
too much of this one particular security.
No dividend on the common is expected
until July, and it is not certain that one
will be paid at that date, although it is
generally expected. Fhe present price,
therefor is not particularly tempting to
the purchasers.
FOREIGN FINANCIAL-New York,
April 22-CommereiaI Advertisers Lon
business was done on the stock exchange
today, and that was irregular. Interest
was eentered in the ESQ, 000, 600 issue of
new conso1s, at 9915, half of which was
placed before the announcement was
made. The syndicate to float the issue
Is made up Of big men in London, on the
sentiment continent and in AmeFiea The NEST
Morgans, Cassel, Wernher and Belt, and
it is said that the whole issue has already
been oversubscribed. It is believed also,
however, that the subscribers will be dis
appointed, since SO many holders of the
old consols have sold out in the anticipa-
ton Of the new issue that the price of the
first consols has been depressed to 9414.
In consequence of this the premium of
the new ISSUE which at the opening was
per cent, declined to u per cent. Amer
lean shares were subjected to several
weak spaSmS today, but were, on the
whole fairly firm, until the opening in
New York. There was sharp break
which was accompanied by some talk of
the floods, which affected particularly
the Atchisons. Fries and Norfolk & west
ems. After that there was general par
tfai recovery in the stock, under the lead
ership Of fresh squirt IN Chicago, Mil
ture was Southern Pacific. which was
bought on tip from New York. The
bank is sending out G25, 600 of gold TO
Bermuda. Money Is scarce on a demand
for deposit again the new issues of con-
sols. The rate for call money was 3 per
cent; for time money, 27s: discounts were
8 f-f6. The rate in Berlin has been re-
duced to per cent. Silver was strong
on purchases for the American combina-
ton: Exchange on Paris was 25.171S
TREASURY BALANCES-Wa Washington,
April %: : Today's statement of the
treasury balances in the general fund, ex-
elusive of the $150, COZ, 900 gold reserve in
the division of redemption. shows: Avail
able cash balances, 1888, 49,, 27S; gold, $685.
NEW YORK MoNEY-New York, April
22.-C1ose: Money on call steady at 215@
S per cent; last loan, 4; ruling rate, 4.
Prime mercantile paper, 4G415 per cent
Sterling exchange strong, with actual
business in bankers bills at 1854 for de-
mand, and at $4.S5BG4. 851 for sixty days.
Posted rates, $f.8515d4 Sc and $3.50. Com
mercia1 bills, $4.S4d4.S41a Silver certiff-
Gates nominally 60c. Bar silver, 605se.
Mexican dollars, 4Stzc.
BANK CLEARINGS
st. Paul, $725, 1856
Minneapolis, 81. 49,, 052
New York. $11S, ,748
Chicago-s22 sos 0f0.
Boston, $50, $50, 252