St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-02-02
FINANCIAL.
New York.
Special Telegram.

NEW YORK, Jan. 31.-Stocks took tum-
bic in the opening hour, with Lackawsnna
aud st. Paul the weak sisters. A special fea-
ture at the opening was the general rush to
sell ST. Paul. Among the largest sellers we're
London arbitrate brokers. The wanted support
seemed to be entirely withdrawn and there
was suspicion of Gould selling. In Lacka-
wanna there was good deal Of realizing.
The strength of the Northwestern was mat
ter Of general comment, and there seemed
to be good buying with no one particularly
prominent. The news that the war on east
bound passenger rates from Chicago had
broken out afresh had weakening ten
aud Delaware & Hudson were weak on re-
ports that there was to be a reduction of rates
by coal companies. Both stocks broke l Is
per cent. and recovered, under supportin g
orders and the usual Saturday covering, and
realizing by the shorts was noted. ST.
Paul broke ! per cent. and recovered
Is per cent. of the loss upon reports OF
covering. Everybody appeared to have selling
orders at the start and the traders covered
on breaks. Chicago operators telegraphed
their brokers here TO buy the dividend at ~.
1t has been offered at "a with no takers.
The books close in March, and the dividend OF
81 per cent, Vice President Wadsworth as
serts, vii he decided, and there is no reason
for the decline in the stock, but London
holders think differently, and have poured
their stock onto the market. The local bear
party is also heavily short. They have sold
st. Paul as a hedge, while the buying furry
went ON in Lackawanna. Northwestern was
strong all day and is now Is better than yes
terday, and at no time has sold off more
than 4. ANY fractional change to lower
prices brings out no end of buying orders.
The bulls predict par in short order Vice
President Sykes says earnings for the last
week in the month will of course show a
com parative loss, but probably not so great
as to eounterbalance the increase of the
preceding three weeks.
Western Associated Press.
NEW YORK Jan. 3l.-Noney easy H01 per
cent, closed offered /. Prime mercantile paper
4G5 per cent. Sterling exchange, bankers bills
steady at sissy do. ex. demand Sassy.
Governments-Quiet.
Railroad Bonds-Steady.
State Securities-Fairly active. Alabama class
4 sold ut IS; georgia gold rs l121s, and North
Carolina consols S2ss.
stocks-Ihere was q weak tone to the stock
market at the opening of business this morning.
when the bea-s raided Goa stocks reports that
the Pennsylvania railroad intended to reduce
prices on anthracite coal. A great pressure was
~
Western, aud the stock dropped a per cent.
from last nights closing price. to s7!s, with
large sales on the way down. Delaware 81 Hud-
son made a sill larger decline, selling OF y, to
rs, but transactions were small. New Jersey
Central went OF q, to 39ss, and Philadelphia q
Reading declined only \, to 1874. Simnltane-
ously an attack was ma .e on Chicago, Milwaukee
& ST. Paul aud some Of the Pacific roads. all OF
which vi lded for a time; Chicago, Milwaukee h
ST Paul went of l, to 70ls Canadian Paciac 4,
! 10 81; Missouri Pacific /, to "a, and Central
Pacific a, to 261,. Outside the shares men
toned the decline was fractional, within h0H
per cent This decline was followed by some
heavy buying for long account, which started
some of the bears to covering, and an advance OF
bsa tosper cent. ensued, the latter in Delaware
& Hudson; Delaware, Lackawanna & Western
followed with q rise OF a per cent and the re-
mauder OF the active shares advanced Y to /
per cent. In this rise Western Union Telegraph
and Union Pacific were conspicuous. selling up
to IS 2. aud 10 49S respectively. Daring the
afternoon the market became quiet and prices
sagged Of = to 4 per cent, but 10 the last half
hour bust ess was renewed with frmness and
general advance which carried quotation higher
than before for some stocks and about up to the
Il. ~.
Late dealings were characterized by considerable
spirit, and there was an improved feeling genoF-
ally, which was stimula ed by advices from the
west that east bound tonnage from Chicago this
week reached the unusually large total Of 10 900
tons, aud that east bound freight rates were
being firmly maintained. Erie declined TO i2Is
on London reports that the stock and bond bold
ers would be asked to pay an assessment for the
purpose OF llquidAting the floating debt The
market closed firm. Illinois Central lent at i-32,
New York Central, Delaware, Lackswanna
Western, Union Pacific and Delaware Hudson
al i-64. and others fiat to Lies per cent. Com
pared with last nights closing, prices are u to
3. higher for Central Pacific. Chicago a North
western, Chicago, Milwaukee & st. Paul pre-
fcrred. Delaware, Lackawanna Western, Della
ware s Hudson, Louisville d Nashville, Lake
shore and Western Union Telegram; and 4 10 !
per cent. lower for Canadian Pacific, Canada
Southern. Chicago. Milwaukee Sc 81. Paul, Mis-
souri, Pacific, Missouri. Kansas Il Texas, Eris aud
Union Pacific. Oregon Navigation fell of y. tn
60 - and advanced to 90. The aes of stock
for 1.-THE week we're l,425. $50 shares.
The TRANSACTIONS aggregated 22i 900 shares
Delaware, LackawannA s Western 100, 900
chicago. Milwaukee & ST. Paul 4s,0OO; Union
Pacific 1900; Western Union Telegraph ls,OOo.
STOCKS.