St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-18
NEW YORK.
Especial Telegram to the Globe.

New YORK, July fit has been dull and
comparatively dead stock market all day The
changes are not sufficient to cause trepidation or
rejoicing on either side. In the
grangers st. Paul is up one per cent
from the lowest price but only p better than last
night and is about the same below the opening.
Burlington is the same yesterday. Illinois
Central is one per cent. better, preferred is off
] 4, and Northwestern a lower. The Wander
built stocks are dull with drop Of one per cent.
IN Michigan Central and only fractional changes
in the othors including New York Central. In
connection with the latter it may be stated that
there was some pressure to sell the Trunk line
stocks this afternoon, in report of cutting of
rates by the Nickel Plate. The Vanderbilt peo-
pie deny that the cutting is material, but Lake
Shore sold down e per cent with reacovery
later but is now / per cent better than
yesterdays closing, good many
shorts were willing to cover on the
break. Gould stocks have been let alone The
only noticeable variations were in Missouri Pa
cilc, which sold off over per cent, and is per
cent better than the bottom price. Western
Union varied less, but is fractionay weaker than
yesterday.
Money good stock collateral to-day is Of
fered freely at per cent. The abnormally low
rate Of money is significant as showing the
funds are awaiting confidence in the market, and
seeking call loan investment
Stocks were inclined to drop little during the
afternoon; business was at stand-still, and
rumors were scarce.
The activity in the grain market led many to
forsake the stock exchange and buy cereals, as
they offered more temptations in the way
OF fluctuations. at the finish
the market for shares was
dull, uninterest1ng and without feature The es-
timated earnings of the Union Pacific for July
show gross loss of $500, 900 and net of $780,
000. The treasurer says he has money enough
to meet the August interest. Omaha earnings
the second week in July, decrease $5, 200; North
western, same time, $37 roo; Northern Pacific,
same time 526,355 (estimated).
Loaning rates were: New York Central, 3-32k :;
Lake Shore, Central Pacific, Union Pacific,
1-64; Lackawanna, 332; Missouri Pacific, 1-16;
Northern Pacific preferred fiat; Northwestern.
st. Paul, Rock Island, fiat to 1854; Burlington s.
Hudson, 1854.
A. NJ. Day says: ''The market has been dull,
with little s-of Importance and with none of
the large operators active. The result has been
narrow fluctuations under room trading. St. Paul
has been the feature again, but shows
little change for the day beyond continued
activity by the pool. Lake Shore has weakened
a little in rumors of cut rates, and Western
Union, the Baltimore s. Ohio combination and
Union Pacific on q reported decrease of earnings.
Brokers connected with the st. Paul government
say the stock is under good control and will be
advanced when the proper time. comes. Details
of the pooling arrangement between the Balti-
mote & Ohio, Postal and Bankers & Merchants
Telegraph companies have been agreed upon. 1t
is said to be working pooffor twenty-f We years
on basis of about equal division of receipts.
Each company will maintain separate organiza-
ton. The pooling will include land and cable
business. All offices will be consolidated and the
lines will touch about seventy-fve of the Western
Union paving points