St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-24
FINANCIAL.
New York.
Special to the Globe.

| Special to the Globe.
NEW YORK, July 2S.-At the stock eX-
change the market opened steadily at S@Ss
higher for most of the list, but few of the
wild cats were on the jump. Jersey Cen
trail opened yesterday morning at 4015 and
this morning at 40, sold down to Az and
then rallied to 4S1z. There is a race
between two roads TO get the control of
Jersey Central on account of its terminal
facilities at New York. One is the
Baltimore and Ohio, which wants
to come into the city over the
Jersey Central tracks, and the other is
the Pennsylvania Central, which. by virtue
of its new agreement with Mr.. Vanderbilt,
has engaged to keep the Baltimore d Ohio
out. Parties at Philadelphia bought 10. 600
shares of Jersey Central stock yesterday,
and there was regular scramble to see who
would get it first. Reading, of course,
participated in the good fortune of its pro-
tege, and its stock has advanced from ID TO
20. The Baltimore 81 Ohio is reported to
have already made an arrangement with
Reading for the use of the Jersey Central
track, which the latter road refuses to rat
| ify. How it will all end no one can tell.
The full steam was again turned on the
Changers this morning. and Northwestern
rose to 1907 and ST. Paul to 81. Lake
Shore was again put up, and so was West
em Union. Bull points" were given out
to buy both of these stocks for a further
advance. Lackawanna, which has been APP
parently neglected for some days, came TO
the front again and ScOreda rise of three
points in very short time, All the little
| featherweightS are beginning to look up.
Ohio 81 Mississippi gained point during
the forenoon, and Denver d Rio Grande
also moved forward a little.
| MIR. GOULD
is said to be a bear on the market. but for
once is completely foiled in his efforts to
break it. His time is sure to come, how
ever. The st. Paul crowd are in high glee
over the success of their well-laid scheme.
Mr.. Armour says the stock is a purchase
could be worked up ad libitum, but who
this crowd will finally sell their load TO is
quite query. Usually, when
everybody is long on stock. is a
time to get rid of it, but this party will be
compelled to keep their purchases or sell at
decline, unless fresh lambs enough can be
enticed into the aeIna to carry away the
collected bundles. BY their wholly
unreasonable greediness the bulls are now
hurting their own cause, as very soon the
market will get into condition where
no one will dare to buy. Every day
of the present boom at this point is liable to
be its last. 1t was well toward the finish
before anything in the way of a reaction set
in. The market then acted as if pretty well
strained, and the sharp advance was, of
course, tempting to holders, who realized
freely. Pacific Mail is quoted eX-dividend
at the finish. 1t made a bad break jtfSt
before the close. The reaction to-day
| ic ic 81
that it did not come earlier i'm the week
There was some good buying of Union Pa
cific by New England parties and it looked
better than for some time past. The
Omahas were conspicuous in their strength.
| They marched right along up throughout
the session and were at the top when bust
ness ceased.
New YORK, July 23.-Government bonds
have been dull but strong. State bonds have
been quiet and steady. There is no special
| feature to the railway bonds market. The
| sales were large amounting to S3.345. 600. but
| Erie I'd consols contributed Sl.S34, 600 and
West Shore lists only S6ls,000. leaving about
| the usual business of late. 1868 600 for the
| other issues traded in. The stock market
has been more active to-day than at any
time for many months past. The total
| sales were 56S, 392 shares, an increase over
| yesterday of 231. 600 shares, and vet nearly
| lH0 DuslIlcSS UO-utN was done IN the lore
noon and during the last hour. the market
| being dull from IL to2. The trading i'm each
| of the three stocks, Union Pacific, Lacka-
| wanna and ST. Paul, was between 10000 and
| $4,000 shares; and in three other stocks, Lake
| Shore, Western Union and Louisville
| & Nashville, between 44.s00 aud 45.3OO
the sales of the six stocks mentioned
| contributing 354, 800 shares and leaving 2I3-
800 shares to be distributed among the other
stocks on the list, the sales of no other stock
exceeding g., 900 shares. The market was
RATHER HEAVY
IN the early dealing and prices, after opening
unchanged for some stocks, and IL TO q
higher for others, yielded Il to y per
| cent. the greatest declines being made by
Lackawanna. Western Union and Lake Shore
Inns was followed, however, early in the
morning by reaction which, with little in
corruption, continued until about / O'Clock
Inc market then again yielded fraction but
once mere became strong, and the highest
prices OF the day, as rule, were made late
III the last hour, gains from the lowest prices
up 10 this time ranging from IL TO 25S per
cent, except Lackawanna which rose over 4
per cent In the last twenty minutes there
was rapid break which carried prices down
y TO Ia, the market closing active
and weak at the decline. INF from
| q to over 2 per cent. higher than closing
quotations last evening The coal srocIrs
played an important part in to-day's market.
Lackawanna hnctuated heavily and closed
| with a gain of 2ss per cent. Delaware a Hud-
son, on small transactions, is up ~. Cen
trail Of New Jersey closed at a loss of per