St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-15

pretty steady, with an inclination to higher
range Of prices A notable exception, how
ever, was Laekauann2, which continued to
sell down. In the grangers there was con-
siderable covering. aud st. Paul appeared
quite stubborn at about "a. The shorts in
Union Pacific were squeezed little. Rock
Island aud Chicago, Burlington &Quincy were
freely sold. The bears say they must find
lower level The Vanderbilts were well sus-
tanned, as was Pullman and Western Union
telegraph. The ups and downs in Delaware
& Lacka.anna kept the scalpers busy, and
they made several turns during the day.
II is stated that members of the Union Pa
eihe 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
to Mr.. Vanderbilt thai they questioned the
expediency Of paying dividends which
had not been earned, but Mr.. Vanderbilt
replied that all 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 3d. 26 OF preferred
and $40, 379 Of common stock, based on 13S
miles Of new road
The Northern Pacific road has made ar
engagements to pay all OF its interest money
coming due the 1st 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 ''ix
things" The clique In Lzckawanna are said
to have allowed the bears to go on selling
the stock until matters had been arranged
upon secure basis Of settlement,
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
ene-third to one-half. There is evidently a
misunderstanding in the matter of the Chi
eago banks and the ST. Paul terminal bonds
This Misunderstanding is aggravated BY dis
patches from Chieagoin the morning papers,
which say that Chicago was asked TO take
50, 600, 900 worth Of bonds. The reply is al
legged TO have been that the market was too
limited. This is manifestly wrong, because
Of the $4,000, 600 total only 50, 500, 900 are
offered for sale. It was not low price at
which the bonds were offered, but the New
York price Of 90. A proposition was sent
asking IL block could be placed at o. 1t
is understood that the first proposition was
for $40, 600 worth Of bOnds, with the option
10 take 500, 900 more with shade on the
price for the 100000. The president Of
Chicago bank telegraphed that he would be
glad 20 lend money on the terminal bonds.
1t is identical with the following, which
has just been sent on here: Further infor-
nation in regard to st. Paul terminal bonds
comes 10 US as follows: The manager of
the bond department OF the First National
bank az 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 consid-
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 a reduction in expenses to the
amount of over 5000, 900 per annum. He
expects to make the reduction for the year
considerably over 81, 600, 900 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
IDENTITY lost sight of. Delaware 81 Lacka-
wanna was the center of attraction all day
The market closed quiet and rather steady,
without any special features.