St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-04
7HE ST. PAUL DAILY GLOBE WEDNESDAY MORNING MARCH4F85

sale could have taken place without the
knowledge of Wall street. The only state
ment in the dispatch which may be true Is
that the Vanderbilt brokers have been buying
up West Shore bonds when small lots were
offered at low prices. There is reason to be.
leve that such is the case''
Another gentleman said: "The repo TT has,
l believe, no foundation. In the frs
place, the banking house referred to
had and has no such amount
of bonds. The firm of Winslow & Lanler is
evidently meant. They have perhaps mill
ion and half worth of bonds, bought for
their own account and for customers. This
amount was magnitied apparently to S27,-
O0O,O worth. As to their having needed
ready money
THAT RUMOR WAS EXPLODED
long ago. The house is one of the strongest
in the city. My own explanation of the re-
port is this: All railroad men working in the
Vanderbilt interest are instructed to spread
stories to the effect that Vanderbilt controls,
or will control, the West Shore line. Such
stories are used in keeping freight from the
West Shore road. Local managers 60 to heavy
shippers and warn them that if they give
their business to the West Shore they will be
cut off from all special rates on either West
Shore or Central when Vanderbilt takes con-
troll. This policy has the bad effect of fright
ening good many shippers away from the
West Shore. No such enormous amount of
bonds could have been transferred without
Wall street getting wind of the operation.
Checks would have to pass and several banks
would know of the matter 1t is safe to say
that the first news of so important a transac-
ton would not come from Chicago, but from
here.n
There was very small business in stocks,
and this was especially the case with stocks
that heretofore have been the leading specu-
lative specialties. The members of the s. V.
White party are the chief support of prices,
their greatest holding being in
LACKAwANNA AND NORTHWESTERN.
Vanderbilt is reported as buying some
stocks, but not to any great extent Aside
from this there is no general speculation or in
vestment buying. On the other hand the
bears are doing very little, and the outstand-
ing short interests in any stocks but Lacka-
wanna and St. Paul are very small. There
is considerable bullish talk about Southern
roads, Louisville & Washin gton, Richmond
81 West Point, and Memphis & Charleston.
with some talk of a possible dividend on the
latter
Western Associated Press
NEW YORK, March 3.-Government bonds
were quiet and unchanged, except the per
cents, which were u per cent. lower at 1o1 bid.
State Securities-Quiet and steady.
Stocks-The market was extremely dull on
slight fluctuations, most of the day traders show
ing no disposition to speculate either side.
fluctuations consequently being within narrow
limits as is shown by the fact that from the open
ing of the board until nearly o clock Delaware,
Lackawanna Sc Western sold at 1G3ss@103A,
Pacific Mail 56M@55X, Lake Shore G4@53H,
New York Central 93I 993A, Chicago & North
western 954s @95Y, Chicago, Milwaukee & st.
Paul - q Q724 Kansas s. Texas 1e. ais and
Louisville IL Nashville BIZ @31I. These were
among the most active stocks on the list during
the day. The feature in the late afternoon oper-
atoms was trading in Chicago s. Northwestern.
dispatch from Chicago circulated on the
street announced that the earnings of that COM
pany for the fourth week in February showed an
increase of SOL 900. Following this announce
ment the stock rose to 964 on heavy transac-
tons; Delaware, Lackawanna & Western fol-
lowed by selling at 10414 and Lake Shore touched
Ga while the rest of the active list made only
slight advances. Later in the afternoon second
dispatch was given out correcting the first one
by statement that the earnings showed a de-
crease of SCI 900 for the fourth week and much
larger amount for the month Of February. The
whole market became weak, and Chicago &
Northwestern continued activity steadily sold
downwards until 1t reached 95Is and closed at
that price with SAFES in the last hour over %, 900
shares, or more than 80 per cent of the business
done during the day in that stock. At the com.
pany's office in this city Vice President Sykes
says he has not yet received complete reports for
the last week in February and does not know
what they will be. Among the rumors afoat in
the afternoon there one to the effect that the
next dividend on New York Central would be re
duced per cent, and the stock OF that company
fell to and closed at 63n. loss q per cent. Next
to Chicago & Northwestern, Missouri, Kansas 81
Texas has attracted most attention, the total
sales for the day amounting to over 80, 900
shares, instead of only few hundred shares as
was usually the case until recently. At the same
time the price rose to lS7s and closed finally I'M
changed at 1874. Prominent houses report buy
ing this stock for both foreign and Washington
account. In the last half hour Delaware Lacka-
wanna il Western fell from 104A 10 l03A and
closed weak at that price with sales of only 49,
GOO shares for the day. On much restricted
business, Chicago, Milwaukee & St. Paul went
down = per cent at 72l4, but the stock was al
most neglected in the afternoon. Pacific Mail
sold as high as 81 early in the last hour, but de-
clined to SOS, the final sale, however, being
made at 56H, an advance of y per cent. New
Jersey Central also sold q per cent. higher at
IS u on sales less than 200 shares, ard Omaha
preferred shows q gain of q per cent. at s71I on
light dealings. Missouri Pacific was 3 per cent
lower at 80 Z, and other more active stocks show
small declines compared with last evening The
market closed weak with a sale of 1906 shares
about the same yesterday,
Railroad Bonds-The market was rather quiet
except for Erie ends new l,ading which
amounted TO $4,000, or nearly one-third OF the
days business. Bonds opened at 564 and sold
down to 5j'S in the forenoon. In the afternoon
they were entirely neglected until near the close
when there were sales amounting to $4,000 at
Sc 056, closing at the latter price. decline OF
per cent. There was only limited trading in
other issues and prices were generally slow with
only fractional changes. New Jersey Central
lists of 1890, coupon of, were. however, per
cent. higher at II. and there was an equal ad-
vance in Oregon improvement company lists at
so. Atchison, Colorado & Pacific lists rose I per
cent. tos1ai, and Mobile & Ohio lists went up
81 per cent. at 1865. Erie IS consolidated
gold sold at IA. Kansas Pacific lists Of 1896 at
40 and Long Dock bonds at 116, also per cent
higher In each case. There was a sale Of Great
Western lists at 1914. an advance Of / 4 per
cent The greatest declines were in some of