St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-16

which has lain dormant for weeks, started
at once upward urged thereto by a report
that two Boston parties were going to
LEND THE ROAD MONEY
enough to pay off the floating debt. Dur
ing the forenoon the stock rose to 46 &c.
Pacific Mail was also lively and strong on
expectation of dividend to-day. The
earnings of this company for the past
year are said to be about per cent. on the
stock, and for the last six months
about 81 per cent. The earnings OF
Atchison for the first week in April
shows gain of $4,000, although for
March the decrease was about $50, 600 from
last year. There was noticeable squirt in
Delaware q Hudson, caused by rushing
shorts but the rest of the market, aside
from the above named exceptions, only
moved upward as it was lifted by main
force. The improvement in conSOlS was a
direct damper ON the
| NEWLY LAID SCHEMES
of Gould and White and their followers,
and something had to be done to stay the
market; and the plan adopted on the spur
of the moment was to bull few stocks,
force shorts into cover, and SO prevent
a general decline, and this program was
carried out to the letter. Gould and White
make pretty strong team. Northwestern
did not boom this forenoon with other IA
vorites, and some thought it a good sale on
account of coming troubles from the old
tripartite combination. st. Paul
stock fails to come out as the
| bears want it, and so it is not
very active in either direction. Nearly
everybody continues bearish on Lake Shore,
and the stock finds very little support
Large things are talked of in Pacific Mail
soon. From some cause, unexplained, the
Bell telephone stock in Boston market
opened at 203, a
A DROP OF POINTS.
Mr.. Gould's specialties, Telegraph and
Missouri Pacific, received more support and
did better with the rest 1t was thought by
some that he was taking hand in. The
| bears were rather dem0raliZed by the
change of front, and their demands did
much to help the market upward during
the morning hours. Prices were well sus-
tanned up to the finish; there was consider
able activity, and cliqueS marked up their
favorities to the highest point for the day
at the close, and held them there.
NEW YORK, April 15.-Government bonds
| are quiet and quotations are unchanged, eX-
cept an advance Of Is per cent. for the per
| cents.
| State bonds are very dull.
| In some cases railway bonds have been
| active and strong.
In most cases to-day's stock market has
been q surprise to almost every one. The
| European war news this morning was inter-
preted as Educating more peaceful outlook
| and prices at the opening were 1s@@s per
| cent. lower than they closed last evening, and
| in early dealings further fractional decline
was made, but this was followed after the
| first fifteen minutes by a reaction in which
Union Pacific and Pacific Mail took the lead
and from that time until the close of the board
| the market was strong and unusually aotlve as
| compared with the business of late. AT first
| there were rumors of favorable character
regarding the Union Pacifcs floating debt
| but the point which carried the day was first
| the declaration Of the usual IL per cent. d1V1-
dend for the current quarter by the directors
| of the Pacific Mail Steamship company, with
| the official announcement that the company
| earnings for the current quarter were ut
1 rate of So per cent. per annum, and secondly
that a resolution has been adopted by the
| Pacific Mail board which 1t was believed
| would lead to an amicable settlement of the
| differences between that company and Pacific
railroads. That resolution which was pre-
| scented by Mr. Gould and which was unani-
mousy adopted provides that Union and
Central Pacific railways be requested to
| transfer the business OF their trans-Pacific
| line to the Oriental j. Occidental line between
San Francisco and China) TO Pacific Mail, and
| to enter into contract with the latter COM
pany for term of ten years, guaranteeing
| the Pacific Mail against opposition IN emma
| business, on consideration Of which the Pacific
| Mail company would enter the TRANSCRIPT
| mental pool and cooperate with railways be-
| tween New York and San Francisco. The
resolution also provides that oil matters
| should be decided by the commissioners of
the Transcontinental business or by aroltra-
| ton This was interpreted as being extremely
| favorable, not only to the Pacific Mail but
also to the Union Pacific company, and the
| two stocks steadily advanced throughout
| the day. gaining in each case 3 per
cent The rest of the list simply
| followed in that wake and none or
| the active list is lower tonight, and advances
for other Gould stocks were over l per cent.
The total sales were 355,S94 shares, a
gain over Yesterday of 1875, 900 shares Of to-
| days business 81 per cent consisted of trans
| actions in Union Pacific, Pacific Mail and
| Lackawanna. 1t must be rendered, however,
| that Lackawanna is what the street calls only
| a half stock; the par value of Il share is only
| so instead of 100, thus making dealings in
Lackawanna us compared with the other stocks
only 225, 900 instead of 100000 shares. The
| total sales of the eight most active stocks on
the list-Union Pacific, Pacific Mail, Lacka-
| wanna, st. Paul, Northwestern, Lake Shore,
Western Union and Missouri, Kansas d Texas
| and of no other stocks did sales amount to as
| much rs 10000 shares. There were numer-
! Gus rumors circulated during the day re-
garding Union Pacifcs floating delft, includ-
| ing one that the company had secured Sf,OO0,-
600 for the purpose of discharging the debt.
| President Adams of the Union Pacific COM
pany, who was in this city to-day, states that
| the negotiations which that company has
been making in regard to the floating debt
had not been carried to point of which any
thing could be made public. He suggested,
| however, that an obligation having twenty
years to run might be much more desirable
| to the company than call for loan, also
that it was in the power OF the company TO
cancel its floating debt by sale of securities
| held by it. The said company had on hand
| in cash, cash available 100000, and that
the floating debt never before was in as good
condition since he became president. Union
Pacific opened at 4334 and then persistently
advanced throughout the forenoon until it
| reached 49, Between Il and . o'clock it
was strong and sold up to 1875. but at the lat
ter hour was selling at 49,. The final deal
| ings were accompanied by further advance
to 47s4, the price closing on a slight reaction
| at Az, net gain of q per cent Pacific
Mail was opened at 527s and sold down to
| 5s1I and on the remainder of the day rose to
| 90. closing within Is per cent OF that price,
| gain of per cent. 1t was learned this even
| ing that President Adams, who left this after
noon for Boston. agreed, before starting, he
would issue tomorrow formal official &C
ceptance of the terms as set forth in Mr..
Gould's resolution. 1t is stated the three Pa
cific companies interested have agreed to a
proposal to extend the present subsidy ar
| rangement to June in order 10 give ample
time for permanent settlement At p. m.
Western Union was steady at 5SH against
81 at the opening, but in the last hour it
was one of the strongest stocks on the list
and closed at the highest price of the day at
500, gain of l = per cent Missouri Pacific
was also up IL per cant at $685.. The gran
gers were prominent for their weakness at
the opening. and in the first hour touched the
lowest they have reached this week. ST. Paul