St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-22
FINANCIAL.
New York.

Special to the Globe.
NEW YORK, July 21.-At the stock eX-
change the market opened %@15c lower,
sold off little more and then strengthened
perceptibly by the continued efforts of the
whole Clique and the new-made shorts of
yesterday. The stock i'm the lead. as well
as the weakest one in the list, was Union
Pacific, which opened at 5l1% and sold
down to so before it began to
recover. This is a drop of about
five points in two days. Its earnings are
said to be very unsatisfactory and Gould
and Slayback were both getting rid Of it as
fast as they could. Old traders thought
yesterday that the boom was over for the
present, but to-day, after a weak opening.
prices began to show an upward tendency
and some handsome gains were recorded.
During the forenoon Northwestern rose to
$685., st. Paul to 1893, Lake Shore TO 6S56,
New York Central to 90, Kansas 81 Texas
to 81, and Lackawanna to 991$. Bear
points were out on Western Union, but the
stock remained quite steady around 651{.
Mr.. Armours presence was noted in Wall
street, and st. Paul was evidently supported
by its special friends.
THE ONLY QUESTION
in regard TO the future of this stock is
whether some of the bull party viii not
secretly unload and leave minority to bear
the burden of support or wit
ness a decline in their property.
The much talked-of trunk line set
Element of difficulties becomes more and
more complicated. 1t is said to include the
Nickel Plate as well as West Shore, New
York Central, Lake Shore, Pennsylvania
Southern and Pennsylvania Central. How
Of,
the pool is uncertain. The papers for a full
statement are said to be drawn up, but are
not yet signed. Another fresh alliance pro-
posed is between the Baltimore IL Ohio,
Reading and Jersey Central roads, the
first named taking charge of the
whole lot Undoubtedly all the
principal lines of road will DO all they can
to make business more profitable than it has
been for the past year or more. but how
much of the daily batch of rumors set afloat
one should try TO believe is wholly a matter
OF individual choice and preference. At
the last, stocks were irregular and some
what unsettled. Lake Shore developed
considerable weakness. There was quite a
trade in Pullman Palace, which rose TO 121.
Opinions at the finish were much at
variance.
NEW YORK, July 2l.-State bonds have been
very dull and quotations steady. Govern
menu bonds are dull and quotations firm.
There has been decided activity and strong
market for railroad bonds, including the
speculative issues, the sales OF West Shore
amounting to 81, 6l9, 900, of Erie second con-
/ soils 10 ~, To-, 000 and of other securities of
this class to Sl,I25, 900, making Il total of
/ S4.e46,OOO, which is the largest business of
any day during the current year.
There were transactions exceeding 81, O00
IN West Shore firsts between - and O'Clock.
The price opened in the morning at 393z, fell
| quickly TO 39H, and rallied in the forenoon to
AUS; sold up TO 1925, and closed at 4l54 net
advance of per cent. Erie second consols
rose from $50 to 5914 in the forenoon, and
before O'Clock TO 81. but in the last hour de-
clined 10 59ss, and closed with a net advance
of IL. The rest of the business was well dis