St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-05
FINANCIAL.
New York.

Special to the Globe.
NEW YORK, Dec. 4.-The stock market
to-day was narrow one, but on the whole
inclined to be strong. The announcement
of an increase of only $14, 100 i'll the earn
ings Of Northwestern for the fourth week
of November was disappointment. The
pool however, held the market firm. st.
POul was advanced point, selling off again
again after the bulge. Lake Shore and
New York Central were again strong, and.
on rumOrS of the settlement OF the West
Shore suit against the New York Central,
were advanced a point. Very little was
done in the cheap stocks and the feeling
in regard to these was generally
weak. Cd Bull points were circulated
on Wisconsin Central, which it
was claimed would be given boom on the
fact of the road having secured an entrance
into Chicago 1t was claimed that the stock
was better worth 80 now than 81 four years
ago. An important feature in the bull pro-
gram in this stock is the fact that there is
only 50, OOO 900 of the stock, and no one
will sellit short for fear of corner. The
per cent. bonds of the road are selling I'M
der As. Kansas & Texas was rather quiet.
Mr.. HoXie'S explanation i'll a morning paper
that he was buying stock for his
children did not have very
buoyant influence. as most operators
were not seeking longtime investments.
Sales to noon were 1876, 437 shares. The
course of the market after the early advance
was steady. 1t was announced that the
West Shore Injunction had been practically
vacated, but that the decision in the matter
| had been reserved in order to enable the
consolidation 70 thrnnph hafOrQ nfhnr
litigation should arise. The market i'm
proved on this explanation of the situation,
but slumped off later in the day. Railroad
earnings reported to-day for October were
generally favorable, but as rule traders
were not disposed to load up with long
stocks.
REMITTANCES TO EUROPE.
Two fast steamers leave for Europe to-
morrow and the general desire to make re-
mttances by then created a demand for
sterling exchange considerably in excess of
the supply of bills and an advance in posted
rates to 81. s115@4.s6 was the result. The
supply of bills is very small for this time of
the year owing to our light experts Of
breadstuffs and cotton, fact which offsets
the liberal drawings against stocks bought
for European account and which is the
main cause of flow of gold not having be-
gun from London to New York. Cont
mental was active and strong at 4 adj
vance. Government bonds were very strong
to-day. IS advancing u. The increase
of over 50, 600, 900 in the public debt for the
month of November has induced consider
able buying as it has removed apprehensions
of an immediate bond CALL There is a
growing demand for As. 1t is generally
understood that heavy pension payments
cause an increase and future worths will
show decrease in the debt
NEW YORK, Dec 4. - Government bonds
were dull and steady to-day. State bonds
were rather active this afternoon and steady
to strong. Railway bonds were even less act
i've than yesterday, total sales being So, 160,-
900, except sales of 1851 900 Texas Pacific,
Rio Grande division, coupon off, which closed
with net loss of 21s, and Erie second consols,
which were steady to finn, with sales of S123,-
600. The business was entirely of retail
character; stocks were duller than on any
preceding day for two months past. Total
sales amounted to only 242, 400 shares,
a decrease from yesterday of 1885,
900 shares. The market was strong
at the opening and the shorts
in Lake Shore made haste to cover, resulting
in exceptional activity in that stock as COM
pared with the rest of the list, accompanied
by an advance of nearly l per cent. Later
there was q slight reaction, and again very
duh and firm market until after midday.
Continued dullness, accompanied by moder-
ate decline, was the feature in the afternoon
till the last hour, when the market was about
steady, in which condition it closed generally
at advances of 1401a per cent. as compared
with last evening. Lake Shore is up l, New
York Central Is and st. Paul 81. The
HIGHEST PRICES
were generally made by IL o'clock, and the
of ha inr hafn .
fractional above last evenings, but extreme
fluctuations were, with very few exceptions,
less than per cent. The stocks which were
in exception to the general rule in showing
small declines were Texas s. Pacific and New
Jersey Central. each of which is % lower, aud
Louisville s. Nashville and Western Union,
each of which shows decline of q per cent.
Northwestern and Canadian Pacific are I'M
changed The ''street'' was well supplied
with rumors late In the day respecting the
West Shore injunction case, including reports
that q settlement had been made with the
plaintiffs and the matter would be permitted
to drop, but no trustworthy information was
advanced.
The total sales of stocks to-day were 242, 397
shares, including: Delaware, Lackawanna &
Western, 1855; Erie, 1880; Kansas s. Texas,
4.870; Lake Shore, 1880: Northwestern,
$500; New York Central, II $50; Pacific Mail,
1870; st. Paul, 29,415; Texas Pacific, IT,
$50; Union Pacific, 1920; Western Union,
21,445; Northern Pacific preferred, $3.50; Ore
gon Trauscontinental. 1888.
QUOTATIONS. OF STOCKS AND BONDS.
Following are the closing prices bid yester-
day and the three preceding business days: