St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-06-12
FINANCIAL.
New York.

Special to the Globe.
New YORK, June 11.-At the stock ex-
change the market opened 7s@I higher,
advanced 4 more, halted and declined
little, then went up again. In the past two
days shorts have been covering quite freely,
while the big bears have stood aloof and let
the bulls have their own way. But as
prices go up, it is said that long stock be-
gins to come on the market. The earnings
OF Northwestern for the first week of June
decreased $50, 500, but the Osborn party
and Chaplin were said to be buying it for
long pull, while Morgan and White were
credited with selling it. During the
forenoon the stock was up to 903l. st. Paul
was quite active and higher, selling I'D to
81. The election of P. S. Armour as a di-
rector of that road, yesterday was thought
to mean an increased business in the meat
carrying trade, while the bright prospect
for a good crop OF spring wheat in the
Northwest territory this year was a good
omen for all the granger roads. The room
traders, however, were bearish on Union
Pacific and Erie seconds and more
UNFAvoRABLE DEVELOPMENTS
in that direction were looked for. II. n.
Smith was said to be very bearish, while
Work and Osborn were thought to be CO.
operating with White and Gould. Some
thing favorable was expected from the
meeting of the railroad representatives to-
day. London quotations were also better.
and these two facts gave fiImness to the
market. Ticket agents report business as
very dull, and even the scalpers' pool is
slowly dissolving. The old fight between
West Shore and New York Central is as
bitter as ever. but the bonds of the former
road sold up to 81, Notwithstanding Lack
awanna was very prominent, and advanced
to 1925. Western Union was inactive,
but firm and higher. ThesVanderbiIts were
quiet at slightly improved figures, and
Union Pacific was the same. Manitoba
rose to IS. 1t has been crawling up for the
week past. The market was not at any
time too inactive, and during the last hour
was inclined to drop a little. Fresh orders
i'll st. Paul appeared toward the finish and
better feeling was noticeable all around.
1t was sufficient to cause quite a sharp
rally, and closed the market decidedly firm
and somewhat buoyant.
New YORK, June 11.-Government bonds
continue strong on moderate business, es-
pecially for the IS and As. State bonds have
been quiet and without material change I'm
quotations. The railway market was moder-
ately active, although sales were 81, 704, 600,
but of this amount West Shore contributed
1851, 900 and Erie I'd consols S449,00O Prices
this evening are higher than at last previous
| sales, the market being very strong this af-
ternoon. Atlantic Il Pacific Western division
lists are up y at 49, Burlington, Cedar Rap
ids & Northern lists per cents, % at IO6;
Chesapeake Ohio, series A, 2h at SO; Chi
cago Burlington s. Quincy consols, De r
A -
los; ST. Louis Alton & Terre Haute, 2; do. in
comes, at SO. Among those that are lower
Chicago Il Omaha, series B, are down l at 81:
Chicago & Northwestern registered is, 10 at
1271a; Chicago & Milwaukee lists, % at RI:
Cedar Falls s. L. l at LOG. The stock market
was dull and strong from the opening until
after 2 O'Clock, without the development of
single feature of interest. First prices were
generally q shade above yesterdays closing
There was fractional advance from these
prices, slight reaction and then
NOTHING BUT DULLNEss
and steadiness during the time referred to.
the extreme fluctuations being considered less
than l per cent. In the last hour, however
increased activity was accompanied by q
decided advance, during which, in most cases,
the highest prices of the day were established
for the active stocks and the strength and
activity continued until the close of the
board. The total sales were 159,370 shares.
the largest business of any day during the
current week. of which st. Paul, Lackawanna
and Northwestern contributed IS per cent.
The final sales show advances, as compared
with last evening, of 1a@$4 per cent, with
New York Central and backawanna each up l
per cent, st. Paul Is and Lake Shore IL.
The bulls talk very confidently regarding
the situation, claiming that prices are always
ready to advance upon very small purchases.
The story of contemplated combination be-
tween the Wabash, Nickel Plate and West
Shoreis again revived. II is claimed that Mr..
Gould is encouraging the scheme, for the
purpose of securing an entrance into New
York for his system of roads. The total sales
of stocks to-day were l59,3f0 shares, includ-
ing Delaware, Lackawanna & Western II, 04O,
Lake Shore 1852, Louisville & Nashville 4,04l,
Northwestern Is, 1884, New Jersey Central
3, 720, New York Central 12,729, Pacific Mail
$3.50, St. Paul common 1920, Union Pacific