St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-01
FINANCIAL.
New York.
Special to the Globe.

Special to the Globe.
New YORK, June SO.-At the stock ex-
change the market opened 15@I lower,
the latter Tor Lackawanna, which con-
tinued to absorb a large share of general
attention. The stock opened at 964 and
sold to 81 within fifteen minutes, and rallied
to 9415 during the forenoon. Very little
doubt exists that the sly old deacon mar
keted his holdings at better figures than
prevail to-day, and left the ''other fellows"
TO get out as best they could. He was at
his Office, but gave out word that he was
too busy to be seen. Some think that the
deacon had sold lot of siXty-day puts on
the stock, which will be good unless he
comes in and rallies the market before they
expire. Of course the rest OF the list shared
in the general weakness, and prices fell
away for the first hour, then came sharp
reaction which sent the market up 1@11%,
but it did not hold. The grangers We're
steady, and st. Paul and Chicago, Burling-
ton IL Quincy were strong, the former reach
ing II &c and then falling back slowly, and
the latter gaining full point TO 127.
The Vanderbilts were weak at first, but
rallied with good deal of vim and were
disposed TO hold what they gained. particu-
larry New York Central, which sold down
early to S31sc and rallied to S55sc. West
Shore bonds
WERE ALSO ACTIVE
and strong, selling from SAKE to sec, and
then falling back again. Both of these
stocks were favorably affected by the report
that negotiations We're going on 10 settle
the trunk line difficulties. On the second
down turn Western Union and Union Pa
cific gave way, the former selling below 6Oc
and the latter to 50A. The telegraph stock
was sold ON prospect of rivalry for bust
ness between itself and the Bell Telephone
company in New York and PHILADELPHIA.
In fact this whole collapse IN stocks has
been engineered by the Gould-White COM
bination for purposes which are not per-
fectly apparent, as the rest of the list does
not participate in the decline to the extent
which one would suppose. Erie seconds
sold off to 4914 and rallied to 30. but for
little time. The Baltimore 81 Ohio road
has made
A PROPOSITION
Jersey Central, which will be accepted
when the latter is able TO free itself from
the grasp of Reading. 1t is stated that
New York Central will surely pay a 1 per
cent dividend, the same as it did last quar-
| ter. Chicago parties, it is said, have sold
ont good share of their st. Paul stock 1t
is also given out that East bound freight
rates are to be advanced tomorrow. This
unloading of Lackawauna has been carried
on through bear brokers, Deacon White the
principal, keeping out of sight. One cause
of the break was said TO be quarrel among
! the bull leaders. Bear points Were
given out on the Northwestern. There
was but little feature TO the trading in the
last hour. The market just about held its
own, though glance over the list above
| shows that more stocks show a slight gain
for the day than less, when Jumped with
the opening quotations. Delaware q Lack
awanna is quoted ex-dividend per cent.
at the last The Omahas were not in sight
throughout the session.
NEW YORK, June S0.-Government bonds
/ active and strong. There were no sales of
state bonds. There has been a moderate bus
| mess to-day in the general railway bond list
| in addition TO the sale OF 81, 900 West Shore
| frsts, 100000 Erie seconds consols, the total
| sales Of all bonds for the day amounting to
| Sl3,400.O00. Prices are generally higher
Lackawanna has again been the feature Of
the stock market to-day, although the total
transactions in that stock were trife less
| than Yesterday, while the total business of the
/ day footed up 5000 shares more than yester-
! day. Everybody appeared TO have an order
to sell Lackawanna at the opening, and the
first price 81 per cent. lower, at 800, than the
closing of last evening. This was also the
! highest price of the day. Ii sold Gown rapidly
| in the morning to 81, which was the lowest
price reached of the dividend TO be added 10
/ the quotation of the last hour. The stock was
very active and feverfsh throughout the
morning hour, the total sales amounting TO