The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-03

NEW YORK STOCK GOSSIP Strong,
Sturgis & Co. wire Fl. Hobert & Son:
We are still of tho opinion expressed so
often lately TO our friends that the Sc
advances in prices increase in proper ton
the danger of the market, and If large
profits are in signt they Should be par
TALLY realized upon. rhe anticipated ac-
tiVity and rise in Steel shares did not
rnaterialize, but we again cypress our
belief that both classes of stocks viii
seek much higher level.
BANK CLEARINGS.
st. Paul s1,43S,63l
Minneapolis, $2.231.791
Chicago cSm cfs $84, ESQ y 6SS.
Boston $50, 1877 .G4S.
NEW YORK MONEY-New York, May
3.-Close-Money on call firm at 416 per
cent; last loan, 5; ruling rate, 1905.
Prime mercantile paper, 3a40412 per cent;
sterling exchange firm with actual bust
ness in bankers bills at $48 for demand
and at s4S4a for sixty days. Posted
rates, $4S5k04S6 and S4.S9; commercial
bills. $4S414@ 4S4l2; silver certificates, Soc;
bar silver 591zc; Mexican dollars. 4alac.
TREASURY BAILANC ES-W ASH 'nSton.
May 3.-Today's statement Of the treas
ury balances in the general fund, ex-
elusive of the $3.50. 600, 900 gold reserve In
the division of redemption. shows: Avail
able cash balance $156,cS0, 593; gold, $685.
1864.
FOREIGN FINANCIAL-New York
May 2.-Commercial Advertisers London
financial cabIegram says A large bust
ness was done on the stock exchange
here today. Buying orders had accumu-
lated over the holiday, the execution OF
which gave the market the appearance
of great activity but the tone also was
better. more buoyant than it has bsen
for a long time. The new consos are
hardening In the American department
business was excited but confused and
irregular. London rushed in to take
profits during the first hour Of the morn
ing. Soon came, however, furious de-
mand for AtchiSonS which went kitin2
and rallied the whole list. There was a
pause during which the market fluctuat-
ed feverishly. Then the Atchson boom
was continued and the street heard that
Pennsylvania was buying large lines of
it. Union Pacific hung rather heavy, al
though $50 was talked Of for it, on the
reported guarantee or per cent on the
stock by these who are acquiring con-
troll. The feature of the days business,
however, was the gigantic operation in
Americans. This is regarded by some
people here as the only safe method Of
delaing in them now: United States Steel
was active around 5j3s for the common
and 1924 for the preferred. There WIS n
great rush for Grand Trunks on vague
rumors Of working agreements being ar
ranged between than, Northern Pacific
and the Leyland line. The bank has
bought e2G3 eco Of gold in American bars.
The call rate for money was 3A Der cent.
bills 312 per cent. The weakness OF tho
I
gold from Srance. There was a demand
for silver for India. Exchange on Paris
251G; on Berlin 20. ~.
London. May 2--Tho weekly statement
of the Bank of England shows the fol-
lowing changes Total reserve increased
G1 ,0160 600 circulation increased G593. 0oO,
bullion decreased G433, 395, other securi-
ties decreased G540000. other deposits in
creased %. 10000, public deposits increas-
ed 91.5G4o6O notes reserve decreased
Ct 120.00J, government securities increas-
ed .e60.e60. The proportion Of the Bank
OF England's reserve to liability Is As 90
FER cent; last week it was 47.21 per cent.
The rate OF discount is unchanged at 4
per cent. Consols for money, 94h; con-
soils for the account, 94A
Berlin. May 2.-The weekly statement
of the Imperial Bank OF Germany shows
the following changes: Cash in hand in
creased 1G.460.0G9 marks. treasury notes
increased $50. 600 marks. other securities
increased 1,6t0G30 marks. notes in circu-
lation increased 65,f80, 900 marks
Paris, May 1.-The weekly bank state
n9ent Of the Bank of France shows the
following changes: Notes in circulation
increased 1880, 900 francs. treasury &C.
counts current decreased Sc, 700 900 francs,
gold in hand decreased 26, 10000 francs.
bills discounted increased II, 125, 600 francs,
silver in hand increased 525. 900 francs