St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-02
FINANCIAL.
New York.
Special to the Globe.

Special to the Globe.
New YORK, July AT the stock ex-
change the market opened decidedly irreg-
ular. Some stocks were x@% lower,
others 1S@15 higher. Prices at first went
down little, then up, then down again,
and finally appeared daZed, like the major
ity of operators-not knowing which way
TO go. One notably weak stock was Lacka-
wanna, which opened at %, sold off to 92$I
and up to 9315, where it seemed to be
steady for little time, but afterwards
broke to 81. The deal in Lacllawanna is
over, but the stock continues weak and is
likely to remain SO, the manipula-
ton having been too barefaced.
AS the crop of otherwise lambs is
neither affected by frost, drought weevil,
locusts, cyclones, cholera. or any known
peStilence; it is hoped by Deacon White
and his followers that another harvest may
be gathered in the early autumn from a lot
of ''yearlinS" who will catch on at present
prices. New York Central is selling off i'm
London, and insiders do not pretend to
claim that the little dividend declared was
earned. Union Pacific stayed in the dumps
and Yibrated between sos @501@e. Pacific
Mail sold below 49c and rallied &c. West
Shore bonds advanced to 351Ic, on buying
by New York Central parties in London.
The foreclosure trial OF this road is set for
the 18th inst, but
SOMETHING DECISIVE
may be done with it before that time. The
Changers were steady and strong, North
western selling off to 92% and up TO 9315,
while st. Paul was down to 7l55 early,
then up to ~. In fact ST. Paul and North
western took the lead to-day, the former
being particularly strong and some of the
directors appearing as purchasers. Armour
is credited with saying that it cheap at any
point below par. The whole situation, how
ever is greatly and badly mixed by opposite
manipulation, one set of traders pulling
one way and another opposing the first,
neither side having much unity or connee-
ton of effort. Operations resemble more
guerrilla fight than an orderly, pitched bat
tie. Every man now seems to be for him.
self. One theory is that Lackawanna and
Union Pacific are put down TO affect other
stocks, but no one knows anything about it.
Cammack is in the market on the bear
side and WoerishafTer is active. The
Osborn party are not buying any
thing at present. Jersey Central defaults
to-day on $3.50, 900 on interest due on all
sorts of bonds. An application to free
itself from the control of the Reading is to
be filed this week. The feeling was very
quiet as the day waned, and there was
nothing iii the way of rumors calculated to
affect prices either way. The feeling in St.
Paul is rather in favor of higher figures
later on. at the end stocks were dull and
steady.
NEW YORK, July 1.-Government bonds
are quiet and steady. State bonds are quiet
and quotations steady, except the Ohio Is
and Rhode Island GS, which are stronger.
Most of the Alabama, Georgia, Missouri,
! Ohio and Rhode Island issues are quoted eX-
interest. There was an increased business
| on railway bonds to-day, but the increase is
due almost entirely TO increased trading in
West Shore lists, the sales of which were
| 81, 05S, 900. There were transaction of $751;
| 900 in Erie I'd consols, while the total sales of
| all issues dealt in were Sl.92O.OOO. Many
of the issues sold eX-interest. 1t was
| announced to-day that the West Shore
receivers were unable TO pay more than half
the interest due to-day on receivers certif-
Gates. The bonds opened this morning at
| 3414 and rose shortly after midday TO 35s4, ut
which they closed-an advance of n per cent.
| The Buffalo. New York & Philadelphia de-
faulted on its interest due to-day. There
was a meeting of the first and second mort
gage bondholders of the company at the
! III fifth Avenue hotel with the receiver, at
which il was decided to
DO NOTHING HOSTILE
judicial to the interests of the bondhoders.
| The stock market has been less active and
! irregular to-day. Lackawanna continued to
lead the list on amount of business done, but
the sales of that stock were only 63, zoo
| shares, against o., 400 shares yester-
day and I15,500 the day before. There
was further heavy depreciation in price
of the stock, which opened at % and rallied
in the morning to 1915, but slowly declined
throughout the afternoon until in the last
| hour, when it rapidly broke over per cent,
selling as low as 905s and closing at 9I14. a
net loss of 25s per cent. This is a net decline
since the opening on Monday of ~ per cent.
! Mr.. s. V. White, the leading bull operator in
this stock for many months past, but who il
is very generally believed recently disposed OF
| his holdings, appears TO take little interest in
the present decline, and it is reported to-day
that he intends leaving the city in day OF
two for Lake George. The rest OF the listwas
comparatively quiet except a moderate trad
ing in ST. Paul and New York Central. The
greatest activity was in the forenoon, wher
one-hah of the business was transacted. The
total sales of stocks for the entire day were