St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-05-28

tic. New York Central and the Pennsyl-
vania road are also at loggerheads, and the
| latter company proposes to cut rates until
the former cries out enough" The
Pennsylvania road has west shore to
look after in South Pennsylvania, into
which Vanderbilt has already put $40, 600,
O00 Deacon White was said to be selling
Northwestern. As the day advanced there
appeared but little demand for shares from
any quarter, and brokers had an easy time
of it, In the closing hour there was abso-
lutely nothing doing, and the day goes on
record as one of the most uninteresting wit
messed in long while. The dealings of
the finish were entirely featureless.
NEW YORK, May 27.-In the government
bond market the per cents were strong and
showed slight advance on a moderate bust
ness. The others were dull and unchanged.
There were no sales of state bonds. There
continues to be good business in railroad
bonds and prices this evening are in a major
ity of cases a shade higher than at last
previous sales The changes in many cases,
however, are for only small fractions. The
| feature of the market was the very large
| trading in Erie I'd consolS, accompanied by
| further decline in price. The sales of these
| bonds during the forenoon alone were over
$l,00O,0OO, and for the day $1,T79,00O, during
| which the price fell to AZ and closed on a
slight rally at 4T14-a decline from
yesterday of ~. The general
impression is that there have been some
| heavy sales of these bonds during the past
two or three days by old investment holders.
| The total sales of all bonds were 81, T49. 500.
| Day by day the stock market continues to
grow dull and more lifeless. To-day's total
sales were only s7,37S shares, and in no single
stock did the transactions exceed $4,000
| shares. The market was
ABSOLUTELY FEATURELESS
all day. At the opening there was decline
of a small fraction, which was soon checked,
| and the market became dull and steady, and
| so continued throughout the remainder of the
| day The listless character of the market is
| indicated by the statement that the extreme
| fluctuations were in more cases only from q
| az per cent. The market finally closed steady
at 16@l% per cent. below the closing prices yes
| terday the average loss being shade greater
than yesterdays gains. Although the Pacific
| Mail annual statement is very Favorable
| one, showing that company earned over
| per cent during the past year, the stock sold
only between So and 555s and closed with
| loss of IA per cent. 1t is estimated by the
friends of the company that the earnings of
the present year will be about 10 per cent. on
the stock, but it is stated that it will be the
policy of the company to accumulate cash
! reserve of $1,000,Q00, which it is expected
will be done during the year, and then TO
| place the stock on Z Or per cent. OASIS.
The friends of Union Pacific are claiming to-
| day that the
| SURPLUS EARNINGS
| of the company for the current year will
amount to $4,000, 900, and the company will
be able to pay Off the floating debt by the lst
of January next without resorting to the
| sale of any more bonds thus intimating that
the scheme of selling enough bonds in the
treasury to pay the floating debt may yet be
| abandoned In addition to this, they
| estimate that the land sales will ena-
| BILE the company to retire during the year
as much as S2,000,000 bonds. The most active
stocks to-day were Lackawanna, st. Paul,
New York Central, Northwestern, Union Pa
cifc, Western Union and Texas Pacific in the
| order named. There has recently been con-
| siderable strength developed in Texas Pacific,
on increased trading, the stock selling frac-
ton above II, but it closed to-day with loss OF
! II. The transactions in Missouri Pacific
were limited to LOCO shares, gain OF a per
cent. The governing committee of the stock
exchange to-day listed 1,06S,0OO OF the ST.
| Paul, Minneapolis & Manitoba railway Us
consolidated bonds, $2,000,000 Louisville u
Nashville, 10-40 IS of 1924, 81 100000 Man.
haitian Railway company I'd mortgage bonds
| and 1907, $50 Eds preferred stock of the Ches-
apeake s. Ohio railway.
| The total sales of stocks to-day were S7,O7S
| shares, including Lackawanna $4,000, North
western L, 900, New York Central $4,000, St.
| Paul Il, 900, Texas Pacific 5000, Union Paclhc
| 10000 Western Union 1900.
QUOTATIONS OF STOCKS AND BONDS.
terday and the three preceding days: