The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1885-05-14
New York Stock Market.

NEw York, May l3.-Stocks rallied
shortly before o'clock and continued
strong during the last hour without
making any great advance, and closed
strong.
EEw YORK. May 13.-Stocks were
irregular at first, prices showing de-
cline of N@ss for Pacific Mail and New
York Central; unchanged for Lake
shore, Western Union and N@N higher
for other active stocks. In the early
dealings. there was an advance, es-
neciaIiy in Lake Shore and Louisville
md Nashville This was followed later by
reaction and at IL O'Clock the market
p-ices showes only small changes
from opening quotations.
NEW YORK, May 13.-Governments
received some attention There were
sales of AZ per cents registered at
fIlsl. IS. at 1.03A and AZ. coupons We're
registered at 121%. The quotations
show a decline of I for As. and an ad-
vance of "A for IS. and x for currency
Is. of 1895. Stocks were irregular.
moderately active. and at times, fever
ish. with Lackawanna the leading
featuse. The market is growing more
and more each day into a contest be-
tween the bulls, lead by the Gould
White party, who control, IN great
measure, the quotations for Union
Pacific, Western Union, Missouri Pa
cgc and the grangers, and the leading
bear operators, whose most direct at
tack has been against the Vanderbilt's
until to-day, when they also sold Lacka-
wanna heavily. The different stocks
that make up the active list were SO
cratic that description of the market
can hardly be given without taking up
the list seriGtim. The total sales for the
day were 251, S71 shares, of which Lack
aWanna alone contributed 81 900. Sales
of four other stocks, New York Central,
Northwestern, Union Prciic and st.
Paul, added $4,000 shares TO the days
business. During the forenoon. Lacka-
wanna sold down from 1.039Z to 1.01Z,
but rallied later in the day, selling in
the last hour at 1.025s and closing at
101%, a loss Of per cent. The grangers
and Gould stocks yielded fraction in
the forenoon, we're steady until late in
the afternoon, and then rallied so that
at the close Western Union was down
to Is, Pacific Mail u and Northwestern
4, while the st. Paul is up to "a, Mis-
souri, Pacific e and Union Pacific and
Missouri, Kansas and Texas unchanged.
1t is stated that the movement to pay
of the floating debt of the Union Pacific
is now under way and will probably be
carried Out before July 1st. 1t is also
stated that the company's earnings are
between and per cent. per annum on
its stock.
The report from London that the
Oregon & California Central is to be
consolidated with the Central Pacific
SYSTEM, is confirmed here to-day. The
arrangement is virtually purchase of
the former by the latter. The stock of
one is being exchanged for the outstand-
ing stock of the other, on terms which
have not yet been made known, perhaps
not definitely agreed upon: New bonds
of the Central are TO be issued in lieu of
the present defaulted Oregon bonds.
Phis admits the Central Pacific into
the Oregon, and besides putting it on an
equal footing with the other lines to |
the Oregon aud Puget Sound business,
completes great north and south line
from the British Columbia frontier to
the Gulf of Mexico.