St. Paul daily globe., 1885-04-28
FINANCIAL.
New York.

New York.
Special to the Globe.
New YORK, April 27.-The theory so
persistently presented by the bulls that a
war would have depressing effect on the
stock market received some apparent con-
firmati0n this morning by stitfening up ON
apparent peace news. The advance was
not marked as both sides are playing a
waiting game, but the general tone was
much better than a week ago. 1t is not
believed the granger rate will be long con-
tinued and the 10-cent price to ST. Paul Is
taken as indicating that heroic treatment
has been adopted in order to force speedy
compromise. The bulls claim to be able to
take in all the long stock that may come at
present and do not propose to permit the
Chicago bears to get their stock back, and
an upward tendency all along the line is
predicted for the week. At the exchange
the market opened irregularly. Some stocks
were A(0I lower and others as much
higher The exceptions were Oregon Navl-
CATION, which opened a lower, and Lake
Erie dS Western, which was
ABOUT AS BAD.
Gould, White and their followers went in
this morning to see what they could do In
the way of boosting prices They whipped
the bush, kicked up dust and thrashed
around generally, and succeeded after here
culean eXertionS in advancing the market
for few stocks from 1a@%. But even
this did not hold long. New York Central
was worked in a way to make shorts un-
easy, and some of them covered and this
put up its prices fnll point from the OPEN
ing figure, which, however, was 4 lower
than the close of Saturday. White, in ac-
cordance with his late bargain with Gould,
was around the room, Ostensibly buying
Union Pacific at the highest point it touched
during the forenoon, but this little ruse de-
ceived no one. Word was given out by the
cliqueS that the market would be held in
spite of everything. Hence no changes can
be looked for on account OF
OUTSIDE OCCURRENCES.
Pacific Mail was steady and slow around
54L Omaha earnings for the third week
of April decreased S29, 300. Freight rates
to Minneapolis by all lines and on all classes
of goods were quoted at 10 cents hundred
to-day. The earnings of the Pennsylvania
road for March decreased so much that it
has affected the price of the stock. The
directors party were said to be buying st.
Paul again. Bulls and bears appear to be
equally confident of the future, and cOnse-
quently the'market drags along at slow
and uninteresting pace. There is no doubt
but that Gould and White are determined
to force the market upward, if such thing
is possible, and the leader of the move
ment will be Union Pacific, in which it is
claimed there is large short interest. The
market throughout the morning was in
clined to be more active than On Saturday.
1t became firm after midday, with mod
crate advance all along the line. The
shorts in New York Central who put out
options two months ago, were buyers OF it
to-day. Stocks eased off toward the finish,
and closed rather weak for all leading
shares.
NEW YORK, April 27.-Government bonds
were very strong this afternoon, the As adj
vancing Il and the AIS q per cent, with
quiet, quotations being generally about steady.
There was well-distributed business in rail-
way bonds, none of which, however, were ac-
tive except the Chesapeake & Ohio. Prices
this evening show greater number OF ad-
vances than declines as compared with previ-
Gus sales, but the changes in many cases are
for only small fractions. Considering the
uulluSSS VI luc ScucIdl hClf thC
ment demand for securities of this class is
very good The total sales to-day were $780,
600, decrease from Saturday of S67, 900. The
stock market continues dull but with strong
undertone prices at the opening this
morning were shade lower than the closing
figures ON Saturday, but the decline was i'm
mediately checked and the upward move
ment which Immediately followed continued
till late in the afternoon, when on some re-
alizing and the publication of news to the
effect that the cutting of rates in the west
was spreading the market reached fraction
but closed firm at prices which in most
cases are fraction higher than they closed
last week. The war news has ceased to have
any decided effect upon the market. To-day's
business, although light, was more than
double that of Saturday, the total sales being
1872, 900 shares, of which st. Paul, New York
Central, Union Pacific, Oregon TranSconti-
mental, Northwestern and Lackawanna con-
tributed nearly rs per cent. There was con-
siderable activity and strength i'll New York
Central this forenoon on reports that negotia-
tions were again under way looking to
that company and the West Shore.
The stock advanced l per cent.
from the opening. In the afternoon
the next quarterly dividend was offered at -
of per cent, and the stock reacted, closing
mt a net loss of Is per cent. Lake Shore was
quiet and shows a gain of Is per cent. at the
close. There was good buying of the grangers
during the early part of the day, Northwest
selling up to SO and st. Paul II Il, while Omaha
preferred advanced to n. These advances
were subsequently lost, Northwest closing "a
lower and st. Paul unchanged, and Omaha
preferred is still up Il. There was unusually
active trading in Oregon Transcontinental,
which closed this evening q per cent. higher,
both the activity and advance being attrib-
to1 m fba nf inside nartiaG who
claim that this stock hasnot responded to the
favorable influences attending the negotia-
tions for the leasing of the Oregon Railway
Navigation line to the Union and Northern
Pacific. Advices from Boston, received on
the street this afternoon, state the joint lease
of the Oregon Navigation has practically been
agreed upon. Missouri Pacific is Is higher.
1t is officially stated that the earnings of Pa
cif1c Mail for the month of April, partly es-
timated on the business between New York
and Aspinwali, amounted to Sl02, 154 gain
over the same month last year of S3, TSS. The
stock, however, is - per cent lower this
evening on q very small business. Union Pa
cific shows gain of "a per cent.
The Post, in its cotton review, says: After
an advance of 5G6-100 most of the gain was
lost and sales at the third call were made
142-100 above last Saturdays closing prices
June brought S10.S2; July, S1091; August,
Sl0.9S; September, S10.72; futures closed
weak and 2G3-100 lower than Saturday; sales,
13, 900 bales.
Sales of stocks to-day aggregated 10000
shares, including Delaware, Lackawanna &
Western. 1890; Chicago & Northwestern,
11,00O; New York Central, $4,000; Pacific
Mail. $500; Chicago, Milwaukee g. st. Paul,
sc, 400; Union Pacific, 22,s00; Western Union
Telegraph, 800; Oregon Transcontinental,
l., 900.
The Mail and Express says: There was no
demand for mining shares to-day and more
stagnant market it would be difficult to find
on the various calls. Quotations were made
for the most of the stocks simply for the pur-
pose of keeping them before the public. but
no one wanted to purchase and there was as
little pressure to sell.
QUOTATIONS. OF STOCKS AND BONDS.
NEW YORK. April 2T.-Stocks and bonds
closed at the following prices bid
Three per cents. .102 Lake Shore 49,. 5Ss4
L. S. IS. .112% Louisville & N. 3OL
T. = Ds1r ~