St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-09-06


Money easy at 1914 per cent, close offered
/. Prime mercantile paper 5H06H per cent
Sterling exchange, bankers bills weaker at
S4.S3; do. ex. demand, S4.S5.
Governments
Bonds-Railroad bonds firm.
State Securities-Dull.
Stocks-Speculaton at the stock market is
characterized by great strength to-day. At the
opening the market irregular and declined
1a6lT per cent, the latter for New York Central,
which fell off to 101 81, reports that the direc-
tors have reduced the dividend to u per cent.
for the quarter. Later the market gathered
strength on favorable reports from the corn belt,
and q general advance in prices took place.
Business was more active and leading shares
were taken in round amounts for out of town
count The confidence with which buying was
conducted alarmed the bears, who experienced
considerable difficulty in covering, the floating
supply of stocks continues light. The advance
ranged from a to "a per cent, Union Pacific
making the greatest advance. New Jersey
Central, however, was exceptionally weak, de-
Ginning from SIX to sos, but later returned to
SIX. In the afternoon there was disposition
to realize profits and prices ran off &01 per
cent, but this was followed by brisk buying
movement, and at The ;close the market was
buoyant at the highest figures of the day, with
Chicago, Milwaukee & St. Paul up to Sc y,
Chicago, Burlington s. Quincy to 124, Lake Shore
to s25s, Missouri, Kansas s. Texas to 1875, New
York Central to 1O3al Northern Pacific preferred
to 1913, and Union Pacific to 511a. The borrow
ing demand for active shares was brisk.
Michigan Central, Lake Shore, Central Pacific
and Northern Pacific preferred lent at 1-64, New
York Central at 1-32, and Chicago, Burlington &
Quincy ar oua dollar hundred COmDarpd
with last nights closing prices are H03S per
cent higher, except for Louisville & Nashville,
which is q per cent. lower.
The transactions aggregated 315 900 shares :
Delaware, Lackawanna % Western $1,000 (;
Lake Shore $4,000; Missouri Pacific $4,000;
Chicago & Northwestern 81 900; Chicago, Mil
wau5ee & st. Paul II, 600; Union Pacific $4,000;
Western Union Telegraph 10000.
The Boston Post says: 1.-The weakness in
New York Central was due to selling from Lon
don, where it was announced yesterday evening
that the company had declared a dividend of Il
per cent. for quarter to June 30, instead of the
usual per cent. The official announcement to
that effect was not made here until to-day but
in view of these facts it is stated the company
did not earn even l per cent. net over the in
terest of rentals and taxes last quarter to June
80, and that the total net earning for the year
and September in excess of these can scarcely
exceed per cent. Reduction OF diyiyidends to
even less than per cent. would cause no sur
prise, with West Shore continually cutting into
its business and fixing ruinous rates for it. New
York Central will not per cent, and will
probably never pay even that late of dividends
again. The price of stock, however, is well sus-
tanned, notwithstanding the hammeriGg ap-
parent the market is still in control of the
bulls"
MINING STOCKS.
Mining shares are very dull. Caledonia
sold at 40 California assessment unpaid 10, and
Sutro (buyer 60l IS.
BOSTON RAILROAD AND MINING.
Following are the closing prices at the Stock