St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-14

pretty steady, with an inclination to q higher
range Of prices A notable exception, how
ever, was Lackawanna, which continued TO
sell down. In the grsngers there was con-
siderable covering, and st. Paul appeared
quite stubborn at about "A. The shorts in
Union Pacific were squeezed little. Rock
Island and Chicago, Burlington &Quincy were
freely sold The bears say they must find q
lower level. The Vanderbilts were well sus-
tanned, IS was Pullman and Western Union
telegraph. The ups and downs in Delaware
& Lsckavanna kept the scslpers busy, and
they made several turns during the day.
II Is stated that members Of the Union Pa
eihc pool are quietly selling. The road has
been paralleled at all important points, aud
hostile legislation is expected this winter.
Some New York Central directors have said
10 Mr.. Vanderbilt tLat they questioned the
eIPedieucy Of paying dividends which
bad not been earned, but Mr. Vanderbilt
replied that ali excess Of earnings belonged
to the stockholders He also repeated to him
his offer TO pay all the indebtedness of the
Central road for its real estate. The st.
Paul, Minneapolis s. Omaha road has had
listed on the exchange sl3, $40 of preferred
and s20,3 Of common stock, based on I3s
miles Of new road.
The Northern Pacific road has made ar
engagements TO pay all of its interest money
coming due the LIST of January. The pros
poets of the coal combination are said to have
improved within the past few days, for most
companies now favor a tonnage pool, by
which they can reduce expenses con siderably.
The security holders of the different coal
companies are also pressing officials to ''fx
things" The clique in Lackawanna are said
TO have allowed the bears to 90 on selling
the stock until matters had been arranged
upon secure basis Of settieme ut,
when they expect TO go for
them heavily. A large reduction of expen-
ses in the Gould system has been made
within the past month. The Western Union
is reducing expenses by hiring more girls
than men for operators. The Erie has lately
cut down the salaries Of leading employees
one-third to One-half. There Is evidently
misunderstanding in the matter Of the Chi
cage banks and the st. Paul terminal bonds.
This misunderstanding is aggravated BY dis
patches from Chicago in the morning papers,
which say that Chicago was asked to take
s3, 600, 200 worth Of bonds. The reply is al
legged to have been that the market was too
limited. This is manifestly wrong, because
of the S5,OOO,OOO total only SO, 500, 600 are
offered for sale. Il was not low price at
which the bonds were offered, but the New
York price Of 92. A proposition was sent
asking II block could he placed at 90. II
IS understood that the first proposition was
Tor SIC, 600 worth Of bonds, with the option
TO take 800, 900 more with shade on the
price for the 100000. The president of a
Chicago bank telegraphed that he would be
glad TO lend money on the terminal bonds.
II is identical with the following, which
has just been sent on here: Further infor-
nation in regard to st. Paul terminal bonds
comes to Us as follows: The manager Of
the bond department of the First National
bank at Chicago was asked to take block Of
bonds and sell them on commission. The
directors OF the bank were in session when
the request was received. and the manager
referred the matter to them. After eonsid-
Grafton the proposal was formally declined.
1t is reported the negotiations betweens
representatives Of the New York Central and
Pennsylvania companies, with reference to
the rate war, have been resumed, and that
there is more than a possibility of a strong
alliance between the New York Central and
Pennsylvania. 1t is stated that Presi-
dent King, of the Erie, has been
able to make reduction in expenses to the
amount Of over 5000, 1000 per annum. He
expects to make the reduction for the wear
considerably over 81 200, 600 and more than
enough to provide for the interest on Erie
seconds. Many operators wound up for the
week, and their purchases during the closing
hour made very steady market at the finish.
Johns appeared to be doing considerable in
Texas Pacific and the stock advanced about
point. Northwestern did not bulge, and but
few seem inclined to support it at present
figures. The Northern Pacifcs were evil
IDENTIFY lost sight of. Delaware & Lacka-
wanna was the center of attraction ali day
The market closed quiet and rather steady,
without any special features.