St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-05
FINANCIAL.
New York:
NeW ~
Special to the Globe.

Special to the Globe.
New York, Nov. 4.-The stock market
again took its cue from st. Paul, which
after strong opening quickly advanced to
81 on heavy buying induced by reports that
its earnings for the fourth week of October
showed an increase of 1852, 900. In SYM
pathy with advance in st. Paul, the en-
tire gmarket strengthened. the leaders in
the Improvement being Union Pacific, Kan
sas IL Texas, the Omahas and later North
western. Vanderbilt stocks were quiet
and held about steady On bulge III
Changers, there was heavy realizing but the
cliQues in those stocks were still Sanguine
and were predicting further advance OF
four or five points before there was
material decline. Northwestern was
put up a point alter the
movement in ST. Paul had eliminated and
Burlington was advanced 2 points on the
report that the September statement OF its
earnings would be very favorable. The
boom was confined exclusively to Granger
stocks, and after st. Paul had touched 93M
and Northwestern 1929, the effect of
heavy realizing began to be felt The
specalties which had been doomed most
declined fraction of a point and the en-
tire market had the appearance OF being
toppy. Just before the close it was an
nounced that the rate On call loans had
been advanced from 81 to s per cent. This
broke the stock market from to 3 points
in the last fifteen minutes before the close.
NEW YORK. Nov 5.-Goverum ent bonds
were dull and steady. There were no sales
Of state bonds this afternoon. There was
smaller business in railroad bonds to-day
than for some time past, total sales amount
ing to 81, $40, 800, but the business was very
well distributed. None of the issues were
very active, prices sympathzing in meas
ure with the course of the stock market. The
sales OF Erie second cOpsois were S4fo,UO0.
The stock market was again very active to-
day. The sales for the first hour amounted
to I65, 500 shares. The total sales for the four
hours of the day aggregated b32,2O0 shares.
The feature, especially of the early dealings,
was the large trading in the St. Paul and
Western Union. The sales Of the
former aggregated $4,000 shares, and
the latter $500. Although some
what irregular, first prices were
generally from 4 to % higher than they
closed on Monday, most of which in many
cases was subsequently lost, but before the
end of the first hour the market became
strong, and SO continued until about II
o'clock, although the movement in that time
was extremely irregular. The most proml-
nent advances were in st. Paul ~ Union
Pacific ~, St. Louis San Francisco ~,
Northwestern 15S Omaha common 1$s, West
ern Union, Louisville s. Nashville and North
ern Pacific preferred each IA. Lake Shore,
Manitoba, Oregon Railway & Navigation. Or
egon Transcontinental and Omaha preferred
each per cent. On the other hand Canadian
Pacific at no time sold as high as it closed on
Monday, while Missouri Pacific and Michigan
Central each gained only a, Erie Is, New
York Central and Jersey Central each %, and
others somewhat larger fractions. After l
o'clock Western Union developed very de-
cided weakness, and in the next hour de-
clined per cent, the remainder OF the list
SYMPATHIZING MODERATELY.
In the final hour the decline was checked
only to be renewed again with increased Yigor.
Western Union sold down to 77s4, or drop
from the best figure of the day of 31a per
cent st. Paul, LackaWanna, Lake Shore,
Union Pacific. Oregon Trauscontinental and
Northern Pacific were all prominently weak,
although the movement was extremely IT.
regular and the fluctuations between con-
servstive sales unusually wide Another at
tempt to stop the decline just before the close
was partially successful, and the market
closed irregular and excited. The lowest
quotation was made in the last hour. The
late decline was accompanied by sudden adj
vance in rate of interest on call loans. Bust
ness during most of the day was done at 2(l15
per cent. In the last hour the rate was rapidly
bid up to 7 per cent, but broke again, closing
rates being bid and AZ asked. After the
closing hour it was offered down to per
cent The heaviest decline in the active
list to-day were in Delaware & Hudson, IL;
Western Union, IA; Canada Southern, rs;
Oregon Navigation, II; Lackawanna, 11s:
Missouri Pacific and Northern Pacific, COM
mon each l; and others less than l per cent.
St. Louis & San Francisco is up %, St. Paul
x, and Union Pacific IS. The strength in
Union Pacific has been accompanied by re-
ports that a London syndicate had purchased
a large amount of the stock of the company,
most of which has already been shipped to
London, and by alleged buying by Boston
parties.
The total sales Of stocks to-day were 530,315
shares, including Canada Southern, 10,500;
Delaware, Lackawanna & Western, 20,65S;
Delaware s. Hudson, 1866; Erie, 1920;
Kansas 6 Texas, 26, 5S5; Lake Shore, 81, $50;
Louisville & Nashville II, 1875; Northwestern,
1855; Northern Pacific, 6,010; New York
Central. 7,400;P Pacific Mail, 1880; Reading,
II 1926; St. Paul, 61,942; St. Paul g. Omaha,
$3.50; Texas Pacific, 9,6T0; Union Pacific, S.
245: Western Union, S. SIS; Northern Pacific,
26. 995: Oregon Transcontinental, $685.
QUOTATIONS OF STOCKS AND BONDS.
Following are the closing prices bid yester-
day and the three preceding business days: