St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-06-29
FINANCIAL.
New York.
Snecial to the Globe.

Special to the GlODe.
New YORK, June 27.-The truly good
Deacon White gives as his belief the state
ment that the market is being supported at
present by Western capital. He inclines to
the belief that the gudgeon has regained
confidence, and that hereafter everything on
the street will be conducted on the square,
that there will be no more manipulation of
shearing of lambs. The deacon also pre-
dicted strong day, but from the start it
was irregular and decidedly feverish. No
one could or would make predictions,
some of the dividend paying stocks sell
ing down, with a lot of third-class
stuff tending upward. The market opened
A@% lower, the latter for Erie seconds.
At first stocks were weak and lower, then
turned up A@15 and fell off again. West
Shore bonds started up and gained point
under good buying by large houses, stimu-
lated thereto by the rumor that negotia-
tions weae pending for settlement of its
difficulties with New York Central. The
bull pool appears to be doing but little.
Woerishoffer is quiet and Commack is
watching his opportunity to begin another
bear campaikn. A large block of Lacka-
wanna has recently been liberated and is
now for sale, and it is regarded as suspicious
that the company declined to make any
public statement of its financial condition.
Deacon White, however, continues to
TALK BULLISH,
saying that in two weeks there will be S70,-
600. 600 of idle money in banks above legal
reserves and that this money must and will
be invested in something. Insiders have
been unloading ST. Paul for several days,
one house having sold about 10000 shares,
but the market takes the stock surprisingly.
The West is buying largely. There is said
to be large selling order in Erie seconds
on the MARKET which is not yet executed.
The Changers sold up Il and then back,
and so did the Vanderbilts and
the rest of the list, all going
below the opening on the second downturn.
The earnings of Louisville q Nashville for
the year ending June 80 have been equal to
4 per cent. above its fixed charges The
Reading statement for May shows net de-
bearish on this stock and Jersey Central.
Enormous short interests are out in Next
can Central and Atchison stocks. Gould
will be back in New York to-day or Mon
day The Northwestern dividend is paya-
BILE to-day. Pacific Mail continued weak
and sold below 49c, while Lackawanna was
down below S1.01. The earnings of the
Northern Pacific for May show net de-
crease of $197,071.
NEW YORK, June 27.-Government bonds
quiet and firm, except for the IS, which are
shade higher. State bonds were very dull.
The railway bond market has been dull to-day
and over two-thirds of the business was in
West Shore lists and Erie IDS consols, the sales
of the former being $500, 900, and of the latter
$40, 900, while the total transactions amounted
to $500, 600. Prices are irregular and the
changes in many cases are only for small frac-
lions. Total sales for the week have been $12,-
$50, 000 The stock market has been weak
to-day and at the same time bust
ness has been very dull. Prominent
brokers say, however, there are two
spectators ready to trade in stocks
to-day to one six weeks ago, and barring adj
verse influences in certain special stocks the
market exhibited strong undertone. Not
withstanding the decline for the past two
Gays the street is bullish on the situation.
The market opened weak, and after q frac-
lional decline rallied generally to a shade
gbove opening quotations, and then slowly
sagged Off during most of the remainder of
the day. There was little rally in the after
noon, followed by decided weakness between
2 and o'clock, in which Jersey Central led,
on the announcement that the company had
decided, after having the matter carefully
considered by counsel, to give the Reading
company
ANOTHER CHANCE
to retain the lease of the Central, and an init
nation was therefore forwarded to the Read