St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-05-13
FINANCIAL.
New York.

Special to the Globe. .-......
New YORK, May 12.-The squirt after
the temporary truce in the Northwestern
rate war has about run its course. and the
belief is prevalent that decline is sure to
follow. The bears think New York Cen
trail is bound to follow Lake shore and that
the general tendency will be down. White
is liable to put up Lackawanna again,
but the lambs on that stock are not very
numerous. They have benefited by ex-
perience, and now prefer an ordinary brace
game Of faro. A war between the eastern
trunk lines, to be inaugurated by the Penn
sylvania, the only road that can stand the
pressure, is one of the probabilities of the
near future. The market opened T@H
lower, although few stocks were steady
OF 4 higher. Michigan Central, however,
opened full point off. The bears
CONTINUED THE RAID
which was commenced yesterday afternoon
and prices fell away during the first half of
the session. Northwestern was down to
1874, st. Paul to 6S3s, Lake Shore to 50%,
New York Central to S3%, Lackawanna to
1887 and Pacific Mail to 5314. Toward
noon Lake Shore rallied point by the COW
ering of shorts and the rest Of the list
gained 1904. Western Union and Union
Pacific remained steady, kept up as they
are by fear of Gould: Savin, who was
buying all the st. Paul he could get yester-
day, was selling as much as he could to-day.
There is big pool in ST. Paul, however,
and it showed pretty quick disposition to
recover after the first decline. The Van
derbiltS seemed to have no friends in the
room. The West Shore road to-day made
an open freight rate of 10c per 100 between
this city and New York by lake or rail. and
without classification. The opening of nav
igation will also ........
HURT THE TRAFFIC
of the Central more or less. Lackawanna
was cOnSpichOIiSly weak and a rumOr was
abroad that the old deacon himself was
selling all he could at 104. Evidences are
multiplying that if he and Gould persist in
trying to carry out their lately avowed
plans, they have got an all summers job on
their hands. The late proposition of the
Pullman company to buy the stock of the
Central Transportation company at 80 has
been declined. The old bear party are
again at work and have but little difficulty
in breaking the market after every rally. Its
leaders are Woerishuffer and Cammack. It
is feared that the Northwest war is not
settled, as the papers of agreement are
NOT YET SIGNED.
There are some murmurS heard. None OF
the trunk lines can do well until the West
Shore problem is solved. All sorts of bad
things are said about the next quarterly re-
port of the Lake Shore. The earnings of
Canada Pacific for the first week in May
increased S26, 600. Insiders in st. Paul
were surprised at the amount of long stock
which came out yesterday. The market got
into nut during the closing hour, became
very dull. changing but little, until near the
finish, when the Central, Hudson and Lake
Shore gave way and. the balance did not
take any too well. "A sale Of 10000 pack
ages of cotton goods is. advertised for
Thursday next, and the exchange being up
to four and ninety to-day had depressing
effect on shares and assisted the bears in
their assaults at the last.
..----.
NEW YORK, May 12,-Government bonds
are unchanged in quotations.. except an adj
vance to 1885 in the threes. and l per cent.
in the currency IS at 1917. There were sales
of the coupon AZ per cents at 1127s and the
As registered at 1211a. State securities have
been quiet and quotations firm with sales of
Rock Island IS, at 1873; the Alabama s. Michi-
gan issues are quoted l to per cent higher.
Railroad bonds have been active and prices
generally strong until late in the afternoon
when there was yielding in some cases, es-
pecially Erie seconds were new. The stock
market has heen. somewhat irregular but
moderately active all day. Prices opened
about steady and under heavy selling yielded
a fraction during the first hour,
then rallied and continued steady
on slight fluctuations till after O'Clock, when
they became strong again and the highest