St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-05-07

result OF the ADJOURNED meeting to-day, In
regard to the settlement of the Northwest
ern difficulties. In the closing hour there
We're good many stocks unloaded, and the
feeling became quite weak again. At the
finish there was slight rally, caused prin-
cipally through covering by some of the
shorts. The market closed very much
mixed.
NEW YORK, May 6.-Governmentb bond quo
tations are unchanged, except q decline of 80
in the 3s. There was considerable business
at current quotations. The only sales of
state bonds were of North Carolina special
tax at and Tennessee compromise at 80.
Quotations are steady. There has been q de-
cided reaction in the stock market to-day. At
the opening of the board the bears were
treated to a genuine surprise by the strength
displayed throughout the list but especially
in New York Central and Union Pacific, and
this was followed by an advance in the loan
ing rates for the former, which did not culmi-
nate until at least Is of per cent. was paid
for the use OF the stock for the
day. Lackawanna also loaned at 1-64 The
rally was also accompanied by decided inn
provement in the amount of business done,
and the advance was not checked until after
10 o'clock. Late in the day an effort was
made TO depress the prices but the decline
was checked before 3 o'clock and the market
closed strong at quotations which show adj
vances also in everything on the list the
gains being from a to per cent. The power
of the bulls was forcibly illustrated in to-.
day transactions. The belief is spreading
that the unreasonable war in freight rates
among the western roads is being carried on
principally for speculative purposes and the
sentiment of the street to-day is that this will
continue until the officials who are interested
in the stock market have sufficiently supplied
themselves with long stock which they sold
time Qt higher nriaaS TT ia evident.
that some of the leading bears are more
actively in the market again during the past
day or two than for weeks previous and the
short interest in some of the active stocks,
especially Union Pacific, Western Union and
Lackawanna is believed to be very large. The
total sales to-day were 242, 902 shares. a de-
crease from yesterday of almost o., 600 shares.
OF to-day's business 81 per cent consisted of
transactions in New York Central, Northwest
ern, ST. Paul. Lake Shore, Lackawanna, Union
Pacific and Western Union, the sales OF which
ranged between 10, 100 and 43, 600 shares each.
In point of activity New York Central was the
leader as well as being one of the strongest
stocks on the list, although it opened
unchanged at S7T, but it rose in the
first hour above IS per cent, and after L
O'Clock touched 894 per cent, from which it
declined later to S71s per cent, and closed at
$685. per cent, gain OF q per cent Lake
Shore rose from 53M per cent. to "a per cent.
in the forenoon, sold later at 541a per cent,
but broke to 534 per cent, its lowest price,
and then rallied in the last hour to 531s per
cent, and closed at 5334 per cent, net adj
vance of a per cent. Union Pacific was not
active but was very strong, selling up to 40
per cent. and closing at 1872 per cent, an adj
vance of "a per cent. Western Union, Lack
awanna, Delaware & Hudson, Missouri Pa
cific and two OF three of the less active stocks
are up IS per cent. st. Paul scores gain OF
q per cent, and Northwestern IS per cent.
Erie is also up "A per cent, while Michigan
Central shows gain of per cent, and Cen
trail shows gain of q per cent. Consolida-
ted gas is the only stock on the list
that is lower, at decline of u per cent. Pa
cifc Mail, however, made rally in the
last hour, but closed at the lowest price of
the day with q net gain of q, The lowest
prices were generally at the opening. The
highest prices were made after o'clock, In
most cases. and the closing prices are little
below the highest of the day. 1t is stated
that so much progress was made at yester-
days conference in Boston regarding the
lease Of the Oregon Railway Il Navigation
company to the Union and Northern Pacific,
that another meeting will not be necessary.
There is some opposition to the regular ticket
proposed for directors of New Jersey Central
to be voted upon at the next annual meeting.
President Sloan of the Lackawanna is men
toned for president of the company in place
of President futile. The total footings Of
the transactions in railway bonds in
dicates an active market, the sales
amounting to 81, 4S1, 000 but OF this sum the
trading in Erie seconds contributes 1851. 900
and in West Shore irsts Sis, 900, leaving only
1902 ZOO to be distributed among all the other
securities of this class traded in. Comparing
prices this evening with the last previous
Sales there is decline in many cases. Ches-
apeake & Ohio lists, series B, are down per
cent. at 80 for coupon IS and So coupon
off; St. Louis, Jacksonville & Chicago lists
are also per cent. lower at 117%; Central OF
New Jersey lists consolidated aSsented,
coupon Off, are down 81 at &c. and the adjust
ment bonds at 1867; Chicago Milwaukee &
st. Paul 1sts Wiconsin Minnesota division
IS, u at 94A; Chicago & Northwestern
coupon, old bond, u at 100; New York, Lack
awanna 81 Western lists 1ss at 1905; Denver
& Rio Grande Western lists l at 80; Missouri,
Kansas & Texas consolidated IS IA at T4L;
Oregon Railway & Navigation lists 1a at HE;
Oregon Short Line IS 81 at so; Missouri
Pacific lists consolidated a at 81;
Texas Pacific. Rio Grande division IS
coupon Off, q at 4S14, Fort Worth Denver
lists at Ga and Colorado Coal & Iron IS at
SO. Among the bonds which show gains
Northwestern sinking fund 6s are up ~ per
cent at ia, Erie Bird extended % at 114I and
the ends new 20 at 523sa, after opening at 5215,
selling at 1924, down to 523s, back to 52Is,
again at 5211a, closing as stated. West Shore
lists early in the day developed decided
strength, selling up from 29% to 30T, from
which they declined to 3015 and closed quiet
at 3Os9, net gain of 1as. Union Pacific lists
are up u at Is, and Rome, Watertown s.
Ogdensburg lists at IL.
The sale of stocks to-day amounted to
242, 932 shares, including Lackawanna $4,000,
Lake Shore 2S,300, Northwestern $4,000, New
Jersey Central $500, New York Central 300,
Pacific Mail $500, St. Paul $500, Union
Pacific Is. 800, Western Union 10000, Northern
Pacific $500.
QUOTATIONS OF STOCKS AND BONDS.
Stocks and bonds closed at the following