St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-18
FINANCIAL.
New York.

Special TO the GLOBE.
New YORK, July 17.-At the New York
exchange the market opened 1E@% per
cent. lower, and after feeble rally prices
were inclined to droop during the forenoon.
The edge of the late boom seemed to be
very dull, as though it had struck some
thing hard. In other imagery the steam
WIS tvw In the boiler ami the machinery re-
fused to move, except at a snails pace.
Still no one dreams that the works are
about to be shut down altogether, although
there may be little halt for repairs. The
old trunk line stocks and the grangerS and
cOalers looked wearied and ready to
cry out Enough for the present. &"
but the movement has been a notable sue
cess in many respects and eXcites the aston
ishment of all parties. The outside sup
port was much larger than had been calcu-
lated upon, and this fact will soon cause
new set of operators to take hold of the
market again. Quite little movement is
now being worked up in Kansas IL Texas.
upon the report of increased earnings for
the last year. For some reason. not ap-
parent, Northern Pacific preferred also
gained point to-day, even when the rest
of the list was quiet. The earnings of ST.
Paul for the second week of July decreased
So, 200, while those of Jersey Central for
June increased SIS, OILS. 1t was wired
FROM WALL STREET
that all the leading houses had sold out.
and those who were bulling the market
now had money to loan. The extraordinary
rise in the Vanderbilts is said to be due
mainly to the enormously large short inter
est out. and to the fact that Vanderbilt
secretly took all the stock out of the street.
leaving the poor shorts in bad hole.
Among those shorts, which were so badly
squeezed, were the GOuld-Morgan-W White
clique, so rumor says. 1t was given out
that another important conference is to be
held shortly by the trunk lines
magnates, as there is manifest
hitch in the last negotiations. Some of
Mr.. Vanderbilt'S advisers and counsellors
appear to have been most numerically left
out in the cold. They have made nothing
out of the advance in his favorites, i'm fact
have been whipSawed in a most unkind
manner. 1t recalls TO mind the deal in tel
egraph, years ago, when even blood rela-
tons were sacrificed. There was but little
in the way of reaction at the finish. There
appeared TO be good demand for nearly
all stocks, and they closed at nearly the
best figures of the day, with few excep-
tons.
are dull and firm. State bonds are quiet and
steady. The total business done in railway
bonds to-day is much less than the average
for some time past. amounting to only ST.
$4,000, but the falling of is due to more or
less activity in two or three of the specula-
tive issues than the trading in the general
list. The sales of Erie ends consols were
$4,000, West Shore lists $4,000, and of the
remainder OF the list 1872, 900. Except a few
of the speculative issues the trading from
day to-day is limited TO dealings for small
amounts in the various issues, and for long
time past these investment bonds have
been steadily advancing in price. The stock
market was dull and heavy at the opening
this morning, first prices generally showing
declines of small fractions, followed, in the
early dealings in some cases by further de-
chnes, especially Pacific Mail. which fell of
per cent, but the other losses are generally
Tor small fractions. There was considerable
selling again reported for European account
early in the day, but there was also
GOOD BUYING
IN small lots, which resulted in an early
checking of the decline and later in a slow
out steady upward movement that continued,
with only slight reactions, throughout the
day. The market finally closed heavy and
generally within 3sq5s per cent of the
hignest prices reached Comparing the
closing prices this evening with those
of yesterday, the whole list shows advances
per cent St Paul at one time scored an adj
vance, however. of 4, Western Union u and
Missouri, Kansas g. Texas of 81. Lake Shore
was the only important exception TO the gen-
eral decline yesterday, showing net advance
of IA per cent, and it was the strongest
stock on the active list again TODAY gaining
IL per cent. New York Central GAINED onII,
x, Northwestern is up rs and ST. Paul az.
Missouri, Kansas Texas closed at the high
est price of the day, with an advance of 81.
and the other gains are generally for fractional
amounts, except among some of the stocks
in which the trading is generally limited TO a
few hundred shares from day to day. There
was unusual activity in some of the latter
stocks, accompanied by decided advances in
quotations, the most prominent being Omaha
preferred, which closed at en- advance of 3sI
per cent. The common is also up IL per
cent. Following
THE ANNOUNCEMENT
of a dividend for st. Louis and San Francisco
firsts preferred, the different series of stock
of that company became unusually active
and the preferred closed with an advance