St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-03


EVENING REPORT.
Money easy at 1lper cent, closing at 1@1M.
Prime mercantile paper 495h percent. Ster-
ling exchange, bankers bills steady at S4S7; do.
ex. demand, $3.50.
Governments-Quiet.
Railroad mortgages-Firm. West Shore ives
rose to 81, reacted to 565s and rallied to
66%.
Bonds-Transaction continue on large scale
State Securties-Steady.
The sensation of the day in stock circles was
the activity and advance in Lackewana. Early
In the day brokers for the bull pool called in their
loaned stock, which comm anded 1-32 for use dur
ing the first fifteen minutes of business the rate,
however, soon advancing to per cent The
opening price was 1913 regular and 1881 cash,
subsequently advanced to 131 regular and 1876
cash. From midday until the delivery hour the
difference range from 81 to 5 per cent. 1t be-
came known about two that round amounts of
stocks would be bought in for
non-delivery. At 2:15 purchases for non
delivery began. The price opened at 1877,
ran off to 134IH, advanced to 1897, and dropped
to and closed at 1903. The number of shares
bought in under the rule at these prices was
$780, The sales of regular in the meantime
were 1901 .29A o. oS 81 .994 @1.29T.
The transactions in stock were very heavy,
footing up ITO shares, Of which 30,65O were,
cash $500 under the rule, and 5000, Seller
sixty. The excitement was intense and the
loses of bears enormous. During the squeeze
the street was flooded with rumors of contem-
plated twists, in other heavily oversold stocks.
The effects of the reports was to drive the shorts
into the market as buyers and an advance of 4
TO 3 per cent. followed. Union Pacific, North
western, St. Paul, Lake Shore, Western
Union, Central Pacific, Missouri Pacific,
Michigan Central and Louisville & Nashville
made the greatest advances. Northwestern was
exceptionally weak in early dealings, breaking
11h per cent. to 116R. Subsequently the stock
rose to 1181a. This advance was followed by re-
action of Il to 4, the whole list participating
Compared with last nights closing, prices are
generally Il to Il per cent. higher. LaSkawan-
ma is e higher at 1893, Michigan Central 3@9.
Chicago, Burlington & Quincy, Northwestern
and Omaha preferred are "a to q per cent.
lower.
The Post says: ''The squeeze in Lackawanna
to-day was surprise to a great majority of
spectators in the market as it was not believed
there was so large short interest outstanding
in that stock though it is quite well known there
is still large one in Union Pacific, st. Paul,
Lake Shore, Missouri Pacific and several others.
TIE measure of surprise may be estimated by
the confidence shown by the bears yesterday.
1t is known that few days ago bear pool was
formed by three we'll known Spectators
whose headquarters are near the junction
of Broad street and Exchange
place. Yesterday they sold between 1900 and
5,000@hares each of Lackawanna, Union Pacific
81 st. Paul, and to-day they were buying their
Lackawanna, but not their other stocks. It's
reported that call for 1000 Lackawanna at
l 81 went begging last night at 5. The call was
good to-day and the makers of it compromised
early for $1,000. There were also plenty of
other incidents to show the bears were very con-
fdent that to-day would show lower prices. The
experience of to-day, however, shows
that the contest in the stock market
has narrowed down to Mr.. Gould and
Mr.. Vanderbilt on one side and a well
defined bear party on the other. 1t also shows
that the latter are pretty sure to get terribly
punished whenever they get out enough of the
short interest to make it worth while to squeeze
them.
The steamer from Europe to-day took out
$1,100,000 in gold.
The Saratoga, for Havana, took out 1912, 900 in
Spanish gold coin.
The East Tennessee, Virginia and Georgia
Railroad company paid to the treasurer of the
state of Georgia, at the Fourth National bank,
this city, $3.50, 900 in Georgia bonds, the balance
due the purchase of the Brunswick and
Macon railroad.
Sales of stocks this week 2,5T9, 431 shares, an
increase of ,OO7, 1888 over the previous week
The transactions aggregated 100000 shares:
Central Pacific 1000; Delaware, Lackawanna
& Western 1861 900; do cash $1,000, do ''urder
the rule,'' 1000; Oregon Transcontinental 5000,
Northern Pacific preferred 5000; New York,
Lake Erie & Western 5000; Lake Shore $4,000;
Louisville & Nashville $4,000; Missouri Pacific
5000; Chicago & Northwestern $4,000; New
York Central 5000; Philadelphia & Reading
1900; Chicago, Milwaukee Sc st. Paul $4,000;
Texas Pacific 5,OO0 Union Pacific $4,000;
Western Union Telegraph 10000.
MINING STOCKS.
The mining market was active and strong,
with Bonanza King at 100, Iron Silver 1875, Mary
land Coal 1514@16A, Consol Coal 1890, Belle
Isle 80, Climax O5, Castle Creek 90, Sonora os,
and Oriental Miller 49, Robinson advanced to
80 and later declined to 5000, Spectators at
present are paying some little attention to
mining stock, and the prospect for an active
market is somewhat better.
BOSTON RAILROAD AND Mrx1Na