St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-06-25
FINANCIAL.
New York

New York
Special to the Globe.
NEW YORK, June 24.-The fact has been
demonstrated that large amount Of st.
Paul holdings has been thrown on the
market within the past three days, but the
stock is firm and many are waiting to buy
back on very slight decline. Matters are
quietly drifting back to where they were
before the trunk line racket" though it is
not believed that any of the bulls have
abandoned their faith and let go. A gen
eral feeling Of weakness prevails and it was
reported that LackaWanna would be at
tackled, but it opened steady. 1t is given
out that the money will not be ready to
pay the employees Of the West Shore, and
this result is still further depressing that
stock. The Times says that syndicate,
composed of Woerishoffer, Cammack, Os-
borne and A. j. Cassatt is alleged to have
engineered big deal in West Shore bonds.
The report recently circulated that CassaUt,
who was, of course, understood to repre-
sent the Pennsylvania railroad, was likely
to become receiver of the West Shore, sent
the bonds up from 80 to 3S1a, and it is es-
timated that about SO, 600, 600 of the
BONDS WE'RE UNLOADED
at from 371z to $50, while over one million
dollars were sold yesterday at 34@351s,
even after the authentic announcement that
Cassatt would not take the position had
broken the market. New York Central was
also on the down grade, with good deal
of talk that the next dividend would be
passed altogether 1t was predicted that
the stock would go to 80 before a great
while. The Changers appeared to be neg
lected. The earnings of St. Paul for the
third week in June decreased So, 281 and
insiders were said to be selling out. A good
judge said that Gould was short of the
whole market. Two stocks on the market
however, were quite strong-Louisville &
Nashville and Jersey Central-though in
the latter case it was more the result of
manipulation than in the former. Louis
vile & Nashville is doomed on the large
cotton crop and on the fact that the bonds
of the road have lately advanced 10000 per
cent. Of course the bonds are
BETTER PURCHASE
than the stock. The earnings of Mexican
Central for the third week in June increased
$14, 800 over the same time last year. Bro
kers said there was good selling of Pacific
Mail, although the quotations did not ex-
hibit any special weakness. Central Pacific
600, 900 of new bonds to pay off its floating
debt. The market, as whole, was thought
to be going back into its old state Bull
support is largely withdrawn. There is no
good warrant, either in the condition of the
roads or in the state of general business for
any especial rise in prices now; however, it
may be later in the season, and so the old
heads have been selling the market heavily.
During the last hour there was squirt in
Chicago, Burlington & Quincy to 1878,
while st. Paul and n northwestern frightened
up, but there was nothing in the movement
to encourage the bulls. A rumor on the
street says that the Chicago, Burlington &
Quincy has secured control of the Mani
tOba.
NEW YORK, June 24-Government bonds
are dull but strong. The As and the coupon
AVS are up q and the 3s recovered their
morning loss. State bonds are quiet and
quotations steady. The railway bond market
continues active, the total sales to-day being
81, 1862, 600, nearly One-half Of which consisted
on transactions on West Shore lists, while
sales of Erie IDS were $223,000, leaving less
than 81 ZOO, 600 to be divided among the rest of
the bonds dealt in. Prices this evening are
irregular on account of the de-
cided break in yesterdays stock market
Unusual interest was felt this morn
ing in the course of prices to-day, but
nothing important occurred until late this
afternoon. First prices were rather heavy,
and during the forenoon there was decline
ranging from a to l per cent. for active
stocks, Louisville & Nashville and New Jersey
Central being exceptions by showing unusual
strength. The lowest prices were made soon
after noon, and the market then became
steady to strong, but without any material in
at first was only slight advance was devel-
oped during the last hour into a general up
ward movement: the advances in that time
amounted in some cases to per cent, and a
to 81 per cent. for the whole list, with the ex-
ception of two or three inactive stocks.
Lackawanna is the only one which shows a
decline. The Changers developed
DECIDED STRENGTH
during the last hour, St. Paul showing at the
close gain of 15s, Pennsylvania Central and
Northwestern 1 u Lake Shore is also up II and
New York Central l "a. Western Union gained
%, Union Pacific l and Louisville & Nashville
%. The story that the Chicago. Burlington s.
Quincy had secured control of the Manitoba
has been revived again, and it is also said
that member of the board has been heavily
short of the stock, 1t is intimated a corner
may be contemplated. Whatever may have
been the cause, Manitoba opened this morn
ing 21a per cent higher, at 96A, and rose dur
ing the day TO lUl, closing With gain OF 0ts
per cent, at 99T. Chicago, Burlington &
Quincy is up II and Rock Island ~. The
governing committee of the stock exchange
admitted to the list the following securities:
$1,000, 600 of the general mortgage bonds of
the Cleveland, Columbus, Cincinnati & In
dianapolis, New York Central and Hudson
River debentures of 1904, amounting to
S1,350,00O, baltimore & Ohio $10,0OO,000, per
cent. gold bonds of 1925, recently issued, Fort
Worth & Denver City Railway company's
stock to the amount of $500 shares, of S100
each, Ohio & Mississippi Railway company's
first general mortgage per cents, amounting
to $3,216,00 Pittsburg & McKeesport and
Youghiogheny stock $3,000,000, and first
mortgage per cent. bonds of 1882 S2,250, 900,
and Sodus Bay s. Southern Railroad COM
pany $500, 900 first mortgage per cent. gold
bonds of 1926.
The total sales of stocks to-day were 205, 1923
shares, including Lackawanna $4,000; Lake
Shore, 5000; Louisville s. Nashville, 5000;
Northwestern, $4,000; New Jersey Central,