St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-02-05
FINANCIAL.
New York.

New York.
Special Telegram.
New YORK, Feb. 4-The stock market
opened 5@% higher this morning, with
Lackawanna, ST. Paul and Lake Shore in the
lead. The bull fever was quite high during
the first hour, but the traders began to COO
off before the noon hour was reached and a
decline of 1l@1Ac was secured. Still all the
talk was to the effect that the upward flight
in values is not yet over. A great many
little shorts were covered yesterday, but big
ones are still out and the future of the mar
ket depends not little on their course. If
they hang out and refuse to cover, the mar
ket will be likely to drag more or less. if it
does not fall off. Should they commence to
buy it would
GO Up LIKE KITE.
The small traders all turn over on the bull
side when they see leaders active and they
are always the first to sell out when the mar
ket halts, but heavy operators move more de-
liberately and are not so easily Influenced by
every passing breeze of rumor. st. Paul ad-
vanced on the announcement that the earn
Jugs for the last week in January showed a
gain of about s54, ZOO. The next dividend
it was stated was offered in Wall street at
2H per cent and there we're sales at that
price. Northwestern appears to be abou
the best property on its merits dealt in at
present, and there was good buying of it all
day.
GOT-TD SAYs
that the short interest is still as large as ever,
that when one house returns a big block of
stock another house borrows it, and so the
original amount is kept up. In Western
Union 100, 900 shares are still loaned out on
the street. One leading bear said if the
money was dearer he would sell short, but
money is so cheap that combination could
easily put up prices. 1t is given out that
Deacon White has nothing to do with the
present advance in Lackawanna, but the
statement is engineered by President Sloan
and the directors. The stocks Of coal have
been allowed to run down by the restriction
Of work. The production for January, 1885,
was over 300, 900 tons less than the same
month Of 1854. This Of course helps along
THE BULL PLANS.
Insiders were said 10 be more bullish on st.
Paul, and a new pool has been foi med in IL.
hut large amounts were sold this morning nj
first advance. The Missouri Pacific state
ment for 1884 shows a net balance Of SO, 7G0,-
3l9. II the sixty year funding bill should
pass congress it would make the yearly pay
nents of Union Pacific to the government
about 81, 900, 900 less than thev would be I'M
Ter existing arrangements. The balance OF
the list seemed inclined to drag and looked o
rifle toppy, still many OF the knowing ones
ment and regard reactions as but temporary.
Western Associated Press.
NEW York. Feb. Recommendation.
State Securiiies-Quiet.
Stocks-The stock market was again strong
his morning. sold of fraction during the middle
v the day and again strong and advancing
n the afternoon. The business done was the
r,eSt reported for some time. aggresating 357
li9 shares. or this amount Delaware, Lacka-
wanna & Western contributed los 345 shares
hicago. Milwaukee & St Paul &C. T25. and Chi
ago & Northwestern 3o,57s, making total for
hose three stocks over so per cent Of to days
lusiness Complaint was made that de-
iveries OF stocks we're very slow
which hap, ems only when the short inter
- j. very large II IS stated that the borrowing
demand Is greater than Mt ay time during the
ast ninety days. Delaware, Lackawanna &
Western loaned for Il per cent. and most
'nsiness was done at lie 20 3-3s per cent, and
Jew York Central al l-Gl 10 l-32 per cent. It is
Igain reported there is considerable probability
4 a settlement between the West Shore and
sew York Central roads. The settlement will
rave a decidedly stimulating effect upon the
ma ket Under the influence Of the bear raid
iaring the middle OF the day. Delaware. Lacka-
wanna 6 Western sold down from 92H.
It which It opened, to siE. but recov-
red all its loss in the afternoon. selling mp to
2S per eeEt and closing :. per cent higher
han yesterday at 92i.
The banking house OF Drexel. Morgan & Co.
las jus; had 10000 shares of Delaware. Lacks-
wanna & Western transferred into The books Of
he com pany in their name. The Chicago. Mi.
yankee & 81. Paul and Chicago & Northeastern
espouded to favorable reports, enormous tonnage
eiFr offered railroads thfoI ghout the west and
orihvest, and established decided gains IN
uotations. Chicago. Milwaukee & ST Paul sold
p 10 7sa against rs. At one time yesterday.
nd closed at 49, preferred gained per cent.
6 los. and Chicago &Northwestern : per cent.
eber than lastevening al 9IH Chicago. Rock
slaud s Pacific sold mp 3 per cent. At 100 :.
'acidc Msi 4 per cent At 55S. after toachlnE
So New York. Lake Erie & Western recov-
red : per cent. a. 1s5f, and Central Pa-iac 4,
e. cent. at seL. 1t Is announced the Wabash.
q Louis & Pacific reorganization are making
ivo-ahle progress and that all conflicting inter
st. are likely 20 become reco1cilcd within a few
avs Among the stocks which show declines
{ small fractions are Louisville & Nashville.
,orthern Pacific. PhHadelphis & Reading. jersey
'euirsl. sad Delaware & Hudson Bears cou.iuue
o food the street WIKI runors Of fresh cutting
ates and denoralizing legislation, bag the ten
er % the street Is against them
Railroad Bouds-RAil road bonds svrupathfses
q : measure with the increased ACTIVITY Of N.
took market and prices were also higher In
majority OF cases. Erie 2ud's. rev. show q
ain Of = per cent. at 53S, but they we're les.
ctive thar the past two or three Gays West
bore & BzEAio lists were weak. selliar down
. "A =, decline Of = per cent Rome. va
eStown s OEisns5urg s. advanced ! per cent
o "a and Louisville & Nashville e. IA No.
ent- 70 5. while Erie second mortgages are
er cent higher han the last Drsvfous SAL A.
.. Chicago. Burlington 4 Quincy drbertars
= vere unchanged AZ az. ard - went M !.
er cent a. i30A- There vas tradinr n Nez
ersey Central eoavertfaIes HsssuieS AZ IS. aa
sst1ent oo11s At i9l- and lists % 30. eosuou
TAT l09- a. OF Shich we're aachAa ysa from "a.
at previous cuotario-s Tos.so W.h,.h 4
esieEa lists ~ere y per cent higher a. JOS.
.ssr Teune<See incomes szd srst coasoli4are5
: each show gain Of = per eeuL 81 ia and
: respectively Thers Was decline % Der
szl n Cievels1d & Pittssurr Ist-sa. %. con
OF o. AID /, per cert. T. Northern Pacize ISIS
loo = Azou- the tr4zsacuous uere N-r
'Ssk- Lake Sire & Western $4,000 sA1-ss, Lake