St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-06-26
FINANCIAL.
New York.


NEW YORK, June 25.-The bulls took
possession early, and rush Of Philadelphia
shorts to cover, notably in st. Paul. caused
a general feeling of strength. In order to
offset apopular demand for St.Paul, it is re-
ported that Vanderbilt, who actually, all
reports to the contrary Notwithstanding,
has not been in the street for some time, is
about to engineer an advance on North
western, in the face of decreased earnings,
and it is regarded as a purchase.
At the opening the market was X@Ic
higher, with bullish tendency. Prices adj
vaneed "a little, hesitated, and then
broke under the leadership of
Pacific Mail, which went down with run
on the report that its best steamer, Toxic,
had stranded near Yokohama and was badly
damaged. The stock opened at SAC and
in an hour was selling at sic, afterward
rallying to SIC. This bear fever cooled off,
and then prices went up again. st. Paul
was particularly strong and rose during the
forenoon to 7214c. Reports said that a new
pool had been formed in it to buy 100, 600
shares. Northwestern kept within range
of &c and did not seem able to get much
above 94c. Its earnings for the third week
in June decreased SIC, 700. Chicago,
Burlington & Quincy was also
strong and rose early to S1.27H, afterwards
LOSING a POINT.
1t is said to be headed for 131. Rock
Island advanced to 11S and held its own.
West Shore bonds sold off to 33M, but raj
lied some with the rest of the list. 1t is
thought the deal in these securities is not
yet over. and that they were purchase at
or below "a. Tie experience of yesterday
is said to have convinced the bears that
long stock is not coming on the market
much at this time, and some of them have
turned over to the bull side. 1t was also
thought that the Gould-White party took
hold again yesterday, and this would give
the bulls complete possession of the mar
ket. One result of this accession was seen
in the renewed activity and strength
in Lackawanna, which, with st. Paul,
were the two strongest stocks On the list.
The new quarterly dividend to be declared
will be 2 per cent. Deacon White was bid
ding u for it, and Louisville & Nashville
is pointed for 40 and Jersey Central is
thought to be a good purchase. The
market was put down the last time to let
Gould in, it was said. The Vanderbilts
sold off a point early and then recovered.
What caused the phenomenal rise in Mani
toba yesterday is a little mysterious, as the
officials of the road deny any lease to the
Chicago, Burlington Sc Quincy, while the
number of shorts out was only about 5000
shares. The furry is now attributed to
Gould. To-day the stock fell back to 80.
There was slight rally at the finish. Suffi
cient to give firm feeling throughout the
entire list.
NEW YORK, June 25.-Government bonds
were little more active and strong, especi-
ally for the IS and As. State bonds are quiet
and quotations about steady. The railway
bond market has been much less active to-
day than for some time past, total sales of all
bonds amounting to only S1,219, GOO. There
was very heavy decrease in the transactions
of West Shore, the sales being only $40, 600,
while the transactions in Erie I'd consols were
S275.000. Other issues were dealt in for
small amounts only, and the business late in
the day was only small. Prices are generally
higher. One of the principal features of to-
days stock market has been the heavy break
in Pacific Mail, accompanied by very large
transactions in the stock. There were rumors
on the street early this morning that the COM
pany had lost one of its steamers, and later
the statement was circulated on the street
that the City of Toxic, bound from San Fran
cisco to Yokohoma and Hong Kong, was
stranded at Yokohama and making a little
water but that assistance had been sent.
AFTER OPENING
a shade lower, 5414, the stock rapidly sold
down on the rumor, before anything definite
was known, to 5O59, that price being reached
in the first hour. 1t then rallied in the fore
noon to 521s and was active and feverish dur
ing most of the afternoon, fiuctuating be-
tween the last mentioned quotation and 81
until during the last hour, when it fell to 500
but rallied and closed at 5111s-a decline of
81 per cent, The general list was strong in
early dealings and the market decidedly
active, especially for the Changers, the Van
derbilts, Lackawanna, Louisville & Nashville
and Union Pacific, the total sales during the
forenoon amounting to 1S2, 600 shares, but the
weakness in Pacific Mail had a depressing
tendency upon the market and quotations
yielded fractionally. During the afternoon
prices were comparatively steady and bust
ness much more restricted until late in the
day, when there was another decline, followed
by reaction in which the late losses were re-
covered, but the market closed steady at
prices generally from Il to q per cent. lower
than they closed last evening. Delaware g.
Hudson is down 11s and the Changers are
higher. St. Paul was the
STRONGEST STOCK
on the list all day, and at the closing this
evening shows gain of u per cent. Al