St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-03
FINANCIAL.
New York.

Special to the Globe.
New YORK, July AT the New York
stock exchange the market opened very
irregular. Some stocks are ss@5S higher
and others 55@14 lower. LaclIawanna
and Jersey Central at once jumped into
the lead, but were soon Joined by Pacific
Mail, when all three started down the hill
together. Lackawanna, however, soon
turned about and left its companions to 90
on alone. In other words it opened at 81.
sold off about IS and recovered TO 924, and
then started back again. But it looks as
though it was about ready to turn for good
in the upward direction, and were il not
for the decentralization in the coal trade. it
would probably do so. There was a rumor
that the company would be enjoined from
paying the last dividend, on the ground that
it had not been earned. Deacon White
complacently remarks that he has as much
confidence in the stock now as he had
month ago, which is probably true But
how much did the old sinner have a month
ago. The gossip of the morning was that
the Armour Mitchell-Rockafeller combina-
ton on st. Paul caught Gould with an i'm
mense shortage, and
SQUEEZED TIE LITTLE MAN
numerically. The demand from inside and
outside was very large, and there
is large amount of orders
uneXecuted. The bull leaders are said TO
be out of the market practically, having
got tired of holding up their heavy load.
Another theory is that they have put prices
down in order TO buy stocks cheaper. West
Shore bonds were again strong. and were
pointed" for so on good buying by the
New York Central in London, which is
getting scared in regard to the outcome of the
fight. Insiders We're said TO be buying st.
Paul, but the stock did not show it. The
Changers were both inactive and quotations
were few and far between. and Northwest
ern standing at or around 93H and st. Paul
at 71H. The Vanderbilts We're not much
better, although Lake Shore was pretty
steady around So, and the same was true
of Union Pacific at 81. Pacific Mail sold
off to ASH and had little support jersey
Central went down to 37]I on the stoppage
of the daily payment to it of So. 900 by
Reading. Delaware 81 Hudson also sold
off to 75. which was a drop of IL from
Yesterdays closing. The close was dull
and the feeling somewhat bearish at the
finish.
NEW YORK, July 2.-Government bonds are
quiet and quotations firm, especially for the
fours. There has been no business in state
bonds, but quotations are firm. About the
usual amount OF business has continued TO
be done in railway bonds for investment.
Trading in two or three Of the speculative is
sues, however, tiuctuated widely from day to
day. The sales of West Shore lists were
S3sO,OO0, and OF Erie ends only SOS, goo, while
sales of all bonds amounted TO 81 OF, 600
Prices are generally higher. The stock mar
ket has been unusually irregular to-day.
prices of the different stocks moving with lit
lie reference to each other, but the result of
the days operations is greater or less de-
cline for nearly everything on the active list
The weakest stocks were the granger Central
of New Jersey and Pacific Mail, and the
strongest were the Vanderbilts, Laekawanna