St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-04
FINANCIAL.
New York.
Special to the Globe.

New York.
Special to the Globe.
NETWORK, July 3.-This being the close
of the week. lively day was not antici-
pated by anyone. st. Paul is now the great
gambling stock, not only among ROOM
traders but with the general public, al
though it appears as if the transactions
of the last two days have been largely
Scalping. No one believes the price will
drop below 20. as the men behind are too
powerful to let it go down unless ii should
be for their interest, and that such a course
will be adopted is not entertained for the
reason that they bought for permanent in
vestment The market opened 1E@1 i per
cent. hlgher-the latter for New York Cen
tral, which was doomed OH a report that
the fight between the PENNSYLVANIA road
and Mr. Vanderbilt had been settled by ike
former taking the South PENNSYLVANIA line.
and guaranteeing per cent on its cost.
This started up the market both here and
in London, and the whole list partic-
ipated to gaeater or less extent
Northwestern opened q per cent higher.
sold off little, and then advanced to 925
during the forenoon. The same was true
Of Lackawanna, which, so far as figures
were concerned, kept along neck and neck
with this leading Granger.
AN ADVANCE.
Good buying of Lackawama was re-
ported yesterday below 9l15. and our
prediction that the stock has gone as low as
it would for the present has been fulfilled.
Lake shore participated in the rise and adj
vanced to 564. st. Paul went as far as
1914, and it was given ont that the stock
would not go below 20. Western Union was
heavy and dull around go. 1t was thought
to be sale on account of the heavy expense
Of putting its wires under ground. and on
account of competition with other lines.
Pacific Mail was in the lead, so far as activ-
ity went. and sold down to 4634, then up
To Az. Union Pacific opened y per
cent. higher but did not seem able to hold
the advance. Jersey Central remained
comparatively quiet. The whole business
of the morning. however, was carried on by
pure manipulation, aided by the advance in
east-bound freight rates at the Niagara
meeting yesterday, and the rumOr already
mentioned.
RISE OF NO SIGNIFICANCE.
Consequently the rise does not possess
that significance which it might other
wise have. The earnings of st. Paul
for the fourth week of June decreased S5S,-
300. and for the whole month S53, 901. The
net earnings of Atchison for the first five
months of 1885 decreased 1925, 900. Some
outside parties are said to be buying West
Shore bonds, but it is not known who they
are. The price continues steady
at 35 or above. Erie seconds to-
day opened q per cent higher and
advanced to sos. OF course this sudden
rise brought out good selling, and at the
noon hour the market was dull and lower.
20. i'm, tln
bits caused a much more buoyant feeling
throughout the session than existed on yes
terday. and led many TO believe that next
week we may be treated to a more interest
Ing market for shares. The wind-up was
decidedly firm. The exchange will be
closed until IL o'clock on Monday next.
New YORK, July 3.-Government bonds
have been duh but quotations firm. State
bonds have been quiet and quotations steady.
The railway bond market has been dull, espe-
cially during the latter part of the day. The
total sales were only $4,000, OF which West
Shore firsts contributed 100000, and Erie
second cCnsols $205,0 geo. The remainder of
the business was distributed in small amounts
and prices are generally higher. The total
sales for five days have been Sc. 421, 600. only
| One-half tue business during the six days of
last week. but there has been steady ad-
! issues. The stock market has been very duh
and strong all day. Total sales were only
/ 10000 shares, and of this amount five stocks,
! Lackawanna. Lake Shore, Pacific Mail, St.
| Paul and New York Central, in the order
! named, contributed H.. 800, leaving only 2S,-
/ 0JO shares to be divided among remaining
| stocks traded in. Prices at the opening were
| decidedly strong, showing an advance of u TO
| y per cent. for everything except New York
/ Central, which was up l per cent The
ssf
| The reaction being only slight and the up
| ward movement being well supported, espe-
| cially near the close of the board. The result
4 of the days operations is an advance of
! almost everything on the list ranging
! from y to lts per cent. The most impor-
4 taut gains were in the Vanderbilts Lacka-
wanna and Delaware 81 Hudson. the other
changes being for fractional amounts. tits
/ conceded the railroads are having heavy
1 tonnage and ell that is now wanting. it is
! claimed is profitable rates. There is some
| indication that the long-talked-of settlement
of the trouble between the New York Central
I and West Shore is approaching q consum-
! nation. A dispatch was circulated on the
street in the forenoon to-day quoting Presi-
| dent Roberts, of the Pennsylvania road. as
saying: "Ihere is no change In the railroad
sltuatloEs. innings are bad as they can
be and the immediate future is not brilliant
| But on the other hand reports were circiilst-
| ing purporting TO give views of the New
! York Central officials of the statement beipp
made that they were jubilant over the adj
vance in rates ordered yesterday, as they be-
! iieved the advance will be maintained Tho
market closed ia most cases II or within .
1 small fraction of the highest prices of rhe
day, and very strong at the advances made
| Tomorrow being general holiday
the stock exchange will be closed
Comparing prices this evening with
those of last Saturday, the changes
are uDinportant, except for Lack
awannaf Naich is down SO. A few stocks
are higher, notably the vanderbits New
| York Central being up and Lake Shore 49,