St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-08-21
New York.

Special to the Globe.
NEW YORK. Aug. 2O.-At the stock ex-
change the market opened 1S05Ic higher.
The morning was distinguished by great
activity and a phenomenal advance in the
OmahaS ana some of the featheTweightS.
Lackawanna and Western Union were also
rather strong. while the balance of the list.
including all the good stocks. was at a
standstill. Omaha common opened at 33s[
and rose TO 354, while preferred
opened at S9H and rose to 90 before
there was any reaction. Cause.-The bull
pool caught some shorts out and drove
them TO cover. Ontario * Western, which
forms a part of the middle division of the
West Shore line, opened ~ higher on the
reported purchase Of the road by Wander
bilt. Wabash preferred. on account OF the
strike, opened ~ lower. Ohio x MiSsis-
sippi, which is now in the hands of a re-
ceiyer and kept there in the interest of the
Baltimore IL Ohio road. which operates it
as one of its main lines. gained point dur
ing the forenoon and is liable TO go higher
on account of a struggle for control by the
English bondholderS. who desire to get it
out of the receivers hands. The Baltimore
d Ohio says it will guarantee per cent.
on IFS common stock and per cent. on the
preferred before ii will lose it.
THE BOOKS CLOSE
for next election Sept. u. The principal
power now bulling the market is called the
Saratoga pool, being formed of rich old fel
lows who are now stopping at the resort
and who want to keep up their old habits
even while resting. The earnings of the
Louisville IL Nashville for the second week
of August decreased SIS, 500 and those of
jersey Central for June decreased S1,SS2;
for the six months ending June 80 jersey
Central'S earnings decreased 81. I2O. 900.
1t was given out from Wall street that
stocks were to be put up without
regard TO merit or conditions, which
fact, of course, robS the advance of
all significance and reduces it To the
level of a mere gambling deal. Hunting
ton is SAID to be coming into market soon
and Central Pacific is thought to be a pur-
chase. Bull points were also given ont on
Lake Shore, Lackawanna, Union Pacific and
Pacific Mail. The market became very
quiet the latter part of the day. with but
little feature in the dealings. There was
no special pressure of stocks, neither did
there appear TO be any buying orders of i'm
pOrtance. 1t was just at the wind-up that
free selling set in and prices dropped quite
lively all along the line. The decline was
sufficient TO cause a weak closing with the
lowest figure for the day ruling in most i'll
stances.
New YORK, Aug. 20.-Government bonds
are dull and steady. State bonds were more
active and quotations steady. There was
well-distributed business IN the bonds, the
sales amounting 20 2.OO0, Of which Erie
I'd consols contributed SS5l,Oo0, and West
Shore S2SS,G00, leaving for the rest OF the
list Sl.36S. coo. The reported business on the
stock exchange indicated quite active
market, but il was active and dun 10y turns.
A determined effort was made 10 start the
ball rolling upward and onward. but
when the orders issued had been eX-
ccuted. there were few buyers found
to carry on the work just started, and the re
suit was !. small business until new batch
of orders made their appearance. Prices at
the opening were decidedly strong. the adj
vances in the opening quotations over the
final prices yesterday ranging from = TO =
per cent. During the forenoon and gener-
ally within the first hour of business there
were further advances, which made the total
gains, rs compared with yesterday, amount
to per cent, with exceptional advances in
the Omahas, the common gaming 33s and the
preferred ~. The extreme rise i'm Union
Pacific was ~. but il did not reach its high
est point until later i'm the day; Pacific Mail.
Lackawanna and Reading each rose IL. Col
Orado Coal l, Canada Southern -. MinneapO-
IL, and others fractional amounts. There
was longer
PERIOD OF DECIDED DIZZINESS
after midday and a moderate decline, which
developed into very decided weakness in the
last hour. especially in Lackuwanna. Jersey
Central, st. Paul and New York Central. The
break in Lackawanua in the last hour
amounted to "a, st. Paul - and New York
Central y. Auch of the early gains in the
Omahas was lost soon after midday. and the
stocks closed with final advance of IL for
the common and Ia FOR the preferred.
Canada Southern shows a gain of IL ard
Minneapolis & ST. Louis l. Except Pacific
Mail. which is up 4, all OF the Old active list
is lower, the declines ranging from = TO n :
per cent. the latter Lake Shore. st. Paul and
Lackawanna. New York Central. North
western and Northern Pacific, common. are
down per cent each. The coal stocks were
weak because the old combination by
which the companies were restritc-
ed to all other percentages in
their productions no longer exists. and Lack
awanna positively refuses 10 enter into an
other combination. The market closed weak,
nj or near the lowest prices of the day, with
Che exception OF the Omaha's. The total sales
OF stocks to-day We're 4Ol. i2l shares, includ-
ing Delaware. Lackawunna & Western. "a
7i6; Erie. SOLO; Kansas * Texas. S.O55; Lake
Shore. Si.415; Louisville q Nashville, 10. S9j;
Northwestern, ll,l47; New Jersey Central.
1885; New York Central, 1855;
Ontario & Western, 3,4S5: Pacific Mail.
9.57l; Rcnding, 200; ST. Paul. 34.l55: st.
Paul & Omaha. Is. 1870; Texas Pacific. Ass;
Union Pacific. 2S,555; Western Union, 81. $50;
NorthernPacitic preferred, lI,2Ss; Oregon
Transcontinental, 1895.
QUOTATIONS. OF STOCKS AND BONDS.
Following are the closing prices bid yes:er-
day and the three preceding business days:
Mon Tues Md IVhur