St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-16

Baltimore & Ohio must have the question
! of percentage settled before he would sign
| the Trunk line agreement. AdviceS from
Washington conveyed the information that
the committee having the matter in charge
had decided to recommend payment of the
I Union Pacifc'S debt to the government in
1870 semi-annual payments, as desired by
President Adams of that company. The
entire market broke badly in the last half
hour, st. Paul leading in the decline and
down to 95X. The eutire list closed one
to two points uuder the best prices OF the
day.
NEW YORK, Nov. 14.-Government bonds
were dull and steady. State bonds were ao-
tive and generally heavy. Notwithstanding
the great activity in shares large business
was done in railroad bonds. The transac-
tons amounted to 81, 900, large num-
Der OF issues receiving attention. and the
| speculative list was led as usual by the Erie
seconds consols, of which the sales were
| S9IS,UOo, closing with net loss OF 25s per
cent. The sales for the week have amounted
to S2l, e00,0 900, against S15, 900 last week.
| The stock market was extremely active and
| during most Of the time feyeriSh and irreS-
ular. The reported sales were greater than
on any preceding day this year, amounting to
| io1.SOO shares, an increase over yesterday OF
| 10000 shares. The actual number
Of shares bought and sold was probably
not very much short of 1,000000. When
the market is so extremely active 1t is prac-
| tically impossible for the reporters to obtain
| 4 record of the transactions. The activity
| continued from the opening to the close, with
the exception Of lull between l and 2
O'Clock, which was. however, Of short dura-
| ton. The activity was mainly confined to a
very few stocks, in which ST. Paul led, with
| sales of l53, $50 shares. Erie, Northern Pa
| citic preferred, Lake Shore and Missouri,
Kansas Texas furnished sales ranging be-
tween rs, 600 and $4,000 shares, and, with st.
| Paul, contributed nearly 100000 shares, or
| over one-half of the total days business.
| There has been great deal of talk on the
| street recently about
| HEAVY PURCHASES
in London of American securities, and large
! shipments from this city to European ac-
counts. For some time past the opening
| prices in London were generally higher than
| the closing quotations of the evening before
! on the New York exchange, and this, whether
| from actual purchases Or on account or
| manipulation from this side. was an important
factor in lending strength to the market here
| The weakness this morning was due in part TO
| reports from London showing, that prices were
| heavy and the further statements that owing
| to the war cloud in Europe and for other
causes, London SPECTATORS were heavy sell
ers of American securities to-day. The re-
suit was an irregular and excited opening
| ranging between an advance of 20 to q and q
decline of 5s for the active list. The move
ment during most of the forenoon was very
| irregular; some stocks advanced from u to 2
per cent, while others did not sell above
| opening quotations. The highest prices,
| however, with few exceptions, were es-
| tablished during the forenoon. After mid
| day the tendency was downward, but the
| movement continued very irregular. There
was no decided break until after 2 O'Clock,
| rhnV In, y,t,1rf o,iu oil q
| i've shares declined from y to ~ per cent
| Erie, the Changers and Lake Shore were tho
| most prominent. An attempt was made to
| check the decline, which was partially sue
| cessful in some cases. During the final half
| hour most of the losses made after 2
O'Clock were regained. The movement was
extremely feverish spasmodic and irregular.
| In final dealings some stocks made sudden
| rallies tn same time other and moro active
securities were declining. The market
finally closed irregular, weak, excited and
| feverish, with declines ranging between frac-
| tons and ~ per cent The street is di-
vided in opinion this evening as to whether
the leading pools have actually unloaded and
are now ready for the
| LONG-EXPECTED REACTION,
or whether it was only slump" and the
market is to receive the support which has
| been such a prominent feature of the deal
| ngs for a long time. 1t is noticeable that
most of the active stocks, during the ''bulP'
campaign, were those which suffered most
t lis afternoon. while the low-prced securi-
| Ties, in which the dealings from day to day
| are comparatively small, generally were we'll
held Pacific Mail was very prominent
| feature in this respect and closed with an ac-
| tive advance OF Is per cent. Rock Island is
up % and Omaha common e. There was
very decided strength in Northern Pacific
| preferred, which sold as high as
6O34. gain from last evening of
| 12s per cent, but it closed with an advance
| of "a, Missouri, Kansas & Texas held its own
firmly and closed with loss of only Is.
Western Union lost q. During the forenoon
St. Paul sold within "a of the highest price
that it has reached during the present adj
vance, at 9S5s. In the afternoon it broke
rapidly from 9814 to 953s, rallied to 972s and
closed at 97A, decline OF ~ per cent.
Northwestern was firm until late in the hour,
when it yielded, closing with a loss of l.
Union Pacific was prominent for its weak
ness in the afternoon, declining per cent.
from the highest quotation of the day and
closing with net decline of IL. A
prominent director of the company is
company will pay another dividend in
the next ten years. The greatest decline in
the afternoon was in Erie common, which
closed with loss of ~. The preferred is
also down 1ss. The coal stocks were weak.
Reading declining ~, Jersey Central "a,
VERY SMALL BUSINESS
is up Il. Among the low-priced securities
Nickel Plate was the most active. The COM
mon shows an advance of q, preferred IA.
Michigan Central closed with loss of l psr
cent. Considerable surprise was expressed
to-day that the company had any land for
SALE but it is learned that at the beginning of
the current year it still had public lands
amounting to 27l, 900 acres. The proceeds of
the land that has recently been
sold, yielding the company nearly
$500, 900 will be applied, it is stated, to the
cancellation of that amount Of bonds. Com
pairing prices of the leading active stocks this
evening with those of a week ago, the changes
are unimportant except in few cases. Pa
cifc Nail is up ~, Northern Pacific preferred
3sz, Erie 32s, Louisville & Nashville 2, and
others smaller amounts. Western Union,
Northwestern and Lackawanna are fraction
ally lower. The total sales for the week were
among the largest on record this year, $685.
500 shares, against 1861, 900 last week. Twelve
stocks, however, this week contributed 2,5S7,-
800 shares
The total sales of stocks to-day were 7S7, $50
shares, including Canada Southern, 14,2O5;
Delaware, Lackawanna & Western, 1880;
| Louisville & Nashville, S,72O; Lake Erie 4
Western, 4.47o: Northwestern, 20,s30; New
| Jersey Central 1925; New York Central,
24,54O; Northern Pacific, 5,45O; Ohio & Mis-
sissippi. $50; Pacific Mail, 26,36O: Reading,
| 14,S50 ST. Paul, l55, $50; St. Paul s. Omaha,
| 29. 1855; Texas Pacific, 1,400; Union Pacific,
21,040; Western Union, 1857; Northern Pa
ciic preferred, 60,564; Oregon Transconti-
| mental, 1880.
QUOTATIONS OF STOCKS AND BONDS.
Following are the closing prices bid yester-
| day and the three preceding business days:
Wed THUR. Fri. Sat.