St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-24

NEW YORK, Nov. 2s-Government bonds
were dull and steady. State bonds were dull
and weak. There was no abatement of the
activity in railway bonds, but the business
was the less widely distributed. The sales
amounted to 81, 964, 500. Of this sum Erie I'd
consols contributed 81, 900. For the first
time in weeks past prices are generally lower.
Erie DDS lost l "a. East Tennessee income sales
amounted to $40, 600, the price being compar-
atively steady. The most important break in
the stock market that has occurred since the
upward movement began last summer &C.
Cured to-day. 1t is important, both on &C
count Of the heavy decline for some of the
active shares, amounting to 2@3 per cent,
and because 1t has come after one OF the most
remarkable advances in quotations ever made
in Wall street in the same length of time.
The cloud thrown over the Trunk line nego-
tiations by the announcement late Saturday
afternoon, that the Baltimore & Ohio railroad
had secured a New York connection by way
Of Staten island, had a depressing effect upon
the market, both here and in London. This
morning London quotations published here
just before the opening Of the exchange
showed decline of nearly 2 per cent. in the
LEADING AMERICAN SECURITIES
dealt in on the foreign market. First prices
here were generally from u to ~ per cent.
lower than the closing quotations of Satur-
day. The greatest weakness was exhibited
in Jersey Central. Lackawanna and Reading.
The early dealings developed a persistent
s ling movement, which came both from
those who were seeking to realize profits al
ready accrued, and pounding by the 'bears. !"
Before midday most of the active list sold
from X to over 2 per cent lower than at the
opening. There was, however, partial re-
covery from the lowest figures about IL, and
this was followed by another downward
movement that continued for nearly an hour.
It was either at this time or the lowest in the
morning break that the lowest prices of the
day were made. The decline, as compared
with Saturdays closing, amounting in the
case Of Lake Shore to az per cent. New York
Central and Jersey Central each 3A, Northern
Pacific preferred, ST. Paul and Pacific Mail
each 2ss, Union Pacific "a Louisville Nash
vile 2H, Reading 2. Erie and Lackawanna
each IL, and others smaller amounts, except
some of the low-priced fancieS that have re-
Gently
SPRUNG INTO PROMINENCE
and that suffered materially in the reaction.
The weakness after midday was caused by
the circulation of report to the effect that
an injunction had been granted restraining
the New York Central from carrying the pro-
posed lease of the West Shore railroad. and
the Vanderbilts were conspicuous for the de-
clines made. Later in the day firm tone
was impaired and an advance was established
before o'clock. The confirmation Of the
rumor about an injunction against the New
York Central, however, which was published
late in the day, gave to the closing of the
market feverish, unsettled and generally
weak tone. The result of the days operation
is net loss in quotations, ranging, for the ac-
tive list, between small fractions and II per
cent =, with Lake Shore down 2ss, st. Paul "a,
New York Central, Erie. Union Pacific. North
ern Pacific preferred and Pacific Mail 13s,
Louisville s. Nashville N, Missouri Pacific
and others less than l per cent. Missouri,
G. which 1ad the oarlv hrnak
on Saturday, was conspicuous for its failure
to follow the course of the general market
to-day. 1t was 3s per cent. lower at the open
ing, but very few sales were made below the
opening figures, and it closed at net adj
vance of 50 per cent. Denver & Rio Grande
is up a per cent. Such stocks as Omaha
common and Oregon Transcontinental show
LOSSES OF ONLY SMALL FRACTIONS.
St. Paul was extremely active, the sales
amounting to 124, $50 shares. during which it
broke from 951a@955s to 93s4, sold later at
94$4, and again at 935a, and during the last
hours was about steady at, little above "a,
closing at 9415. Northwestern is only X per
cent. lower. Lake Shore sold in the forenoon
from S614 to S4%, rallied to S51s, and again
broke to S254. 1t was firmer in the last hour,
selling up to S51a, but became very feverish
in the final dealings, and closed at 845s, with
sales of 100, 800 shares. The greatest weak
ness in New York Central was also developed
later showed decided strength, advancing to
1037s, closing at 103$s. The total reported
sales were 76S,S25 shares. 1t is announced
that the balance of the oregon Transcontinen-
tai loan has been placed on very satisfactory
terms. 1t is understood that collateral trust
bonds, bearing moderate rate of interest,
have been issued and sold. II is also stated
that Oregon Railway & Navigation will pay
Off the last Of its floating debt with the pro-
ceeds Of the 1000, 900 new IS sold last week.
The total sales of stocks to-day were 1863, S25
shares, including: Canada Southern, 6,275;
Delaware, Lackawanna g. Western, 81, 552;
Erie, 4S.4i6; Kansas s. Texas, 57,175; Lake
Shore, 10000; Louisville & Nashville, 10000;
Lake Erie g. Western, 1000; Northwestern
1880; New Jersey Central, 1855; New
York Central, 1884; Northern Pacific, 9,T20;
Pacific Mail, 29,S19; Reading, 6,2l0; st. Paul.
124. $50; Texas Pacific, Is, AS; Union Pacific,
20, $50; Western Union, $4,000; Northern
Pacific preferred, 29,17S; Oregon Transconti-
mental, 33,U70
QUOTATIONS OF STOCKS AND BONDS.
Following are the closing prices bid yester-
day and the three preceding business days: