St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-15
FINANCIAL.
New York.

Special 10 Jne OlODe.
NEW YORK, July 14.-At the stock ex-
change the market opened L@2{c lower
for some of the active list, while few held
steady. AT first there was feeling of hes
itation and short period of dullness; then
a slight and slow advance, and then sharp
and sudden break, followed by strong
rally. Nearly all the best operators said
they would not touch stocks until there had
been good healthy reaction. bun the bulls
seemed to be in thorough control and did
just what they pleased regardless of every
body. The upward movement is becoming
a dangerous one and yet it may last much
longer When the selling time does arrive
look out for the pieces. The market could
easily slide off two or three points in an hour
The break of this forenoon lasted only
about ID minutes, and yet there was a drop
of point or more in some stocks. In the
rally that followed prices went up about as
quickly, until they reached opening figures
or better. Deacon White came on deck
early and took charge of Lackawanna.
driving the shorts before him like sheen.
and marking up figures as though il
was nothing but a pleasant pastime.
Lackawama opened at 963{, rose
TO 97%, broke TO S61s and then went
on up again. A good deal of stock
was bought in under the rule, as the unfor-
tmate bears could not deliver it according
to promise. st. Paul and New York Cen
trail were
PARTICULARLY FIRM
and broke less than any others on the list
Erie seconds seemed tired and ready to go
down if the others would. The same was
true of West Shore bonds and Western
Union, while Pacific Mail. Louisville d
Nashville, Jersey Central and that class of
stocks went jogging along just TO keep up
with the crowd, without any particular
strength of their own. The pillars Of the
market are the Changers, Nanderbilts and
Lackawanna. 1t was given out that Pacific
Mail intended to take off its line of steam
ers between San Francisco and Australia
Nov. L. A new receiver is to be placed in
charge of West Shore and Morgan
undertakes to deliver over the road to New
York Central. The Central Pacific state
ment for 1884 shows that the road failed to
earn its fixed charges, while it carries
around floating debt of over So. GOO, 600.
The fears of New York bank officials that
the country is drifting toward a silver basis
excited some comment among stock opera
tors. The Nanderbilts, Changers and Dele
ware IL Lackawanna We're, as usual. the
leaders, and there was an active business
with considerable excitement in them right
up TO the finish. In the closing moments
stocks fell off l per cent. in a flash, and
there was world of excitement in the final
dealings.
New YORK, July l4.-Government bonds
have been little more active, and quotations
rather weak for everything. State bonds are
very quiet, and quotations about steady.
There was again small business in the general
bond list and also ~, q,
speculative issues that have been so active of
late. The total sales to-day were s.. pa 100,
of which the sales of West Shore firsts were
ST. 900, Erie End consols $4,000 and the
Missouri, Kansas & Texas issues SPA 500,
leaving only S753,000 to be divided among ali
other railroad bonds traded in. Prices are
regular. The stock market has been very ir-
regular and unusually active to-day, the total
sales, 427,262 shares, exceeding the business of
any single day for the past six months As
usual, however, the principal portion of the
business was limited TO trading in few IA
vorite securities. st. Paul. with over 9S, 10
shares, Lackawanna with nearly 10000
shares, and Lake Shore and New York Cen
tral with 46,5OO ana 10, 800 shares respectively,
contributing over 63 per cent. of, the DAYS
business. IL to these be added four other
stocks, Louisville & Nashville. Northwestern.
Union Pacific and Western Union, the trading
on the remainder of the list i'm no case was as
much as 5000 shares. The morning was re-
markedly active, the total sales for the first
hour amounting TO l2S,600 shares. Prices of
the leading stocks moved up and down with
out much regard TO each other, but the
MOST FEvERIsH
on the list was Lackawanna, which made
many fluctuations and closed finally at 971k, a
net gain of = per cent. The only stock which
was more active on the list, st. Paul. was en-
phatically steady in the forenoon at a little
above 20. except a sale of 100 shares at T45l
until midday, when it rose to 20. The price
again yielded to 7519, and with very heavy sales
in the last hour rose 10 ~ per cent. but closed
cent. The street was abundautly supplied
with teports respecting the alleged settlement
of the differences between the trunk lines
among them being one 10 the effect that Mr.
Depew and Mr.. Twomhly had gone TO confer