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

New YORK, July lit 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 q better than last
night and is about the same below the opening.
Burlington is the same as yesterday. Illinois
Centfal is one per cent. better, preferred is OFF
u sad Northwestern 4 lower The Wander
builtssocks are dull with drop Of one per cent.
in Michigan Central and only fractional changes
in the others 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 q 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
cific, which sold off OYER per cent, and is per
cent. better than the bottom price Western
Union varied less but is fractionally weaker than
yesterday.
Money on 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 a little during the
afternoon; business was at stand-still, and
rumors we're scarce.
The activity in the grain market led many to
fcrsake the stock exchange and buy cereals, as
they offered more temptations in the way
uuctudtIOQs.
the market for shares was
dull uninterestlng and without feature. The es-
timated earnings of the Union Pacific for July
show gross loss of 100000 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 SIS, 200; North
western, same time, Ss7 700; Northern Pacific,
same time, $685. 55 (estimated).
Loanirs rates were: New York Central, 2-321s !;
Lake szs.ts, Central PaciIe. Union Pacific,
1-64; Lacsawanna, sac Missouri Pacific, 1-f6 !;
Northern Pacific preferred fiat; NORTHWESTERN
st. Paul. Rock Island, flat to 1854; Burlington &
Hudson, 1854.
A. NJ. Day says: ''The market has been dull,
with little news 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
little in rumors of cut rates, and Western
Union, the Baltimore & Ohio combination and
Union Pacific on q reported decrease of earnings.
Brokers connected with the st. Paul government
cay the stock is under good control and will be
advanced when the proper time comes. Details
of the pooling arrangement between the Balti-
more Ohio, Postal and Bankers & Merchants
Telegraph companies have been agreed upon 1t
is said to be working pool for twenty-five years
on basis OF about equal division of receipts.
Each company viii maintain a separate organiZa-
ton. The pooling will include land and cable
business. All Offices will be consolidated and the
lines viii touch about seventy-fve Of the Western
Union paving points.