St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-08-06
FINANCIAL.
New York.

Special to the Globe.
NEW YORK, Aug. Sat the stock ex-
change the market opened 1E@35 higher
for some properties, and 15@4 lower for
others. Prices 1luctuated unsteadiiy for an
hour then came a bad break in Lacka-
wanna, which caused a down turn along
the whole line. About the only really
strong stock on the list was Northwestern.
which refused to bulge an inch. The
cause of this exceptional firmnesS is found
in the excellent exhibit of earnings for the
month of July, showing, as they do. an in
crease OF. S97, 900. St Paul earnings, on
the other hand. for the same month. show
a decrease of $50, 500. Accordingly. ST.
Paul sold off, while its associate remained
like rock. Lackawanna sold from S1.0I15
to 99c in about half an hour, but from what
specific cause could not be aScertained.
Jersey Central followed, and so did the eX-
Willard stocks and Union Pacific. Even
Boston was reported to be selling the latter
stock. II turns out that the attempted
boom in Northern Pacific was gotten up to
sell lot of second mortgage bonds now in
the hands of DreXel. Morgan 6E Co. Re-
ports were out that eaSt-b0und passenger
rates were again being cut, and this proved
to be the last straw, which broke the caneI's
back. MIR. Gould made his appearance on
the street to-day, and this fact
ENCOURAGED THE BEARS
wonderfully, as his position is that there
must be reaction before any further rise.
The Vanderbilt Morgan party say that
while there may not be much in the market
this month, yet prices will go higher in the
fall. They refuse to sell their holdings.
The Beech Greek stockholders refuse TO sell
out their road at Mr.. Vanderbil'S terms,
and the whole -talked-of settlement
is very far from being accomplished. Chi
cago, Burlington & Quincy earnings for
June decreased S249. 902, but for the
six months of this year, ending
June 30. the decrease was only
IS, no. Northern Pacific earnings for
July decreased S22, 700, and yet they are
trying TO bull that stock. Lake Shore earn
ingS, it is said, have rarely shown worse
than for the past two weeks. Slayback
was selling st. Paul and WoerishOifer was
out of town. Deacon White was said to be
buying Lake Shore. New York Central
seems to be entirely let alone. for 81 is a
pretty round price for a l per cent. stock. At
the noon hour the decline had been par
| TALLY checked, and a reaction OF 4@H
had occurred. The market was very dull
at times, and in the closing hour lost parE
of its advance. There was but little gossip
atioat. and the leaders appeared TO be doing
nothing, so that there was no significance
to the trading in many stocks. The close
was very quiet and featureless.
NEW YORK, Aug. 5.-Government bonds
have been quiet and strong. State bonds are
dun and without material change. There
was a moderately active business in railroad
bonds, Erie second consols contributing $685.
600, West Shore firsts $l2s,O00 and the re-
| mainder of the list $4,000. The
| advances were made mostly in
the forenoon. There was some i'm
provement in to-day's business on the
stock exchange. At times the market
WAS fairly active, but the movement OF prices
gave evidences that most of the trading was
the direct result of manipulation, and by
| less skillful hands than have controlled oper-
ntions at times I'm the past Late in the day
business reapsed into a degree of dizziness
seldom equaled. The total sales for the last
three-quarters of an hour were less than
! $1,000 shares. The transactions for the day
| aggregate $4,000 shares, an increase over
yesterday of G6,500 shares. but most of the
increase was in Lackawanna, A, 800 shares
against only l,5SO yesterday, and Western
Union $4,000, against 1,43O yesterday.
The movement in prices today was
quite irregular, one or two stocks moving
upward. while others were neglected or weak
Generally speaking, however. the Gould
| stocks and Lackawanna led in the morning de-