St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-02-01
FINANCIAL

NEW YORK. Jan. 31.-Money easy hG1 per
cent, closed offered l. Prime mercantile paper
4l5 per cent Sterling exchange, bankers ollls
steady at 81 1917 do. ex. demand Sassy.
Governments-Quiet.
Railroad Bonds-Steady.
State Securities-Fairly active. Alabama class
A sold at IS; georgia gold rs 1121s, and North
Carolina consols S25s.
Stocks-There was weak tone to the stock
market at the opening Of business this morning.
when the bears raided Goa stocks on reports that
the Pennsylvania railroad intended to reduce
prices on anthracite coal. A great pressure was
brought TO bear against Delaware, Lackawanna q
Western, and the stock dropped Il per cent.
from last nights closing price, to S74s, with
large sales on the way down. Delaware q HUI
son made still larger decline, selling OF a. 10
68, but transactions were small New Jersey
Central went off / 4, to 32Ss, and Philadelphia u
Reading declined only \, 10 15A. slmultane-
ously an attack was male on Chicago, Milwaukee
Il St. Paul and some of the Pacific roads, all of
which yielded for q time; Chicago, Milwaukee d
St. Paul went off l, to 7OI Canadian Pacific u.
to 90; Missouri Pacific /, to "a, and Central
Pacific z, TO 26H.. Outside the shares men
toned the decline was fractional, within isGh
per cent. This decline was followed by some
~-~--
some of the bears to covering, and an advance Of
4 to 2 per cent. ensued, the latter in Delaware
& Hudson; Delaware, Lackawanna & Western
followed with a rise of ~ per cent, and the re-
mainder Of the active shares advanced Il 10
per cent. In this rise Western Union Telegraph
and Union Pacific were conspicuous, selling up
TO 5S9s and to 493s respectively. During the
afternoon the market became quiet and prices
sagged of Il to q per cent, but in the last half
hour business was renewed with frmness and
general advance which carried quotation higher
than before for some stocks and about up to the
best figures previously attained for most others.
Late dealings characterized by considerable
spirit, and there was an improved feeling gener-
ally, which was stimulated by advices from the
west that east bound tonnage from Chicago this
week reached the unusually large total Of 10000
tons, and that east bound freight rates were
being firmly maintained. Erie declined to 1917
on London reports that the stock and bond hold
ers would be asked 10 pay an assessment for the
purpose OF liquidating the floating debt. The
market closed firm. Illinois Central lent at 132,
New York Central, Delaware, Lackawanna Il
Western Union Pacific and Delaware 81 Hudson
at l-G4, and Others. fiat to 1-128 per cent. Com
pared with last nights closing, prices are q to
q higher for Central Pacific, Chicago d North
western, Chicago, Milwaukee st. Paul pre-
ferred, Delaware, Lackawanna Western, Della
ware & Hudson, Louisville q Nashville, Lake
Shore and Western Union Telegram; and q 10
per cent. lower for Canadian Pacific, Canada
Southern, Chicago, Milwaukee & St. Paul, Mis-
sour Pacific Missouri, Kansas & Texas, Erie and
Union Pacific. Oregon Navigation fell OFF u, to
GOh, and advanced to 62. The saes of stock
for the week were l,426, $50 shares.
The transactions aggregated 22l 900 shares;
Delaware, Lackawanna & Western 100000;
Chicago, Milwaukee 4 st. Paul 48, 900; Union
Pacific II, ZOO; Western Union Telegraph $4,000.