St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-06-06
FINANCIAL.
Nesg GOrk.
Special to the Globe.

Special to the Globe.
New York, June 5.-The Northwestern
dividend yesterday did not help the market
much to-day. Everything opened about as
it closed. but then followed little break.
People who began to buy New Jersey Cen
trail on the theory that the proposition of
the Baltimore Il Ohio would help it are dis
appointed. The failure Of the crops, which
is helping the price OF grain, is now acting
the other way in the price of stocks. The
market opened h@% lower, the latter for
Delaware & Hudson. The feeling at first
was weak and values slowly declined, then
rallied a tritle and then went down second
time. The particular feature of the mar
kets was the weakness in the Changers, and
Northwestern during the forenoon
went down to 90 and St. Paul to 634
Whether the report is false or true, the
official statement of Yesterdays proceedings
declaring that quarterly dividend of u
per cent. on the common stock and 2 per
cent on the preferred was voted instead of
a seni-annual dividend of 81 per cent.
This statement gave
A WEAK TONE
to the market, but later came a telegram
from the Northwestern officials correcting
purely clerical, and that 50 Per cent.
''semi annual instead of ''quarterly'' is the
correct statement. Union Pacific was left
to itself. apparently. and sold off with the
rest OF the list Lackawanna was down to
1O1 and New York Central to SAB. The
whole line, in fact, looked feeble and Kansas
& Texas was off to 1879. All the
fiamboyant bull promises and prophecies. SO
freely distributed of late by the Could
White-Morgan party, have passed by like
the signing of the wind. People have come
to look upUn any statements sent out from
Wall street by these sources as 50 much pre-
tense deliberately put forth to deceive. The
earnings of the Omaha for the fourth week
OF May decreased 81, GOO. Slight rallies
occurred at the finish. but the market closed
considerably demoraiZed and appears to be
finding level from day to day. The clique
leaders are evidently reducing their load and
retiin from under their fayorites as best
they can.
NEW YORK. June 5-Government bonds
have been quiet but strong. final quotations
showing q slight advance in most eases, but
decline Of % per cent in the currency SKIES.
state bonds have been strong on moderate
business. Quotations for some of Missouri
ma other Southern issues show an advance
way bond market has been much less active
today, the total sales being only S1.296.0 00, 4
decrease from yesterday of over $1,000, 000,
but the sales of Erie second were only
S451.CU0. and the West Shore hrStS. SlTS.0cJ.
The rest Of the business was well distributed.
Prices this evening. as compared with
last previous sales, are irregular, the
market having been weak during the
early part of the day. but recovering a por
ton OF the loss in the last two hours. A
steady drive, accompanied by some realizing,
has been made to-day against some Of the
leading active stocks, notably LackawanIa.
Union Pacific and New York Central. result
ing iii a decline in the price Of the first men
toned of nearly per cent. The market
opened weak and dull without any important
re actions during the day and slowly but
steadily Welded on limited transactions until
after O'Clock, when there was Il more de-
cided break in the more active stocks. which
WIS checked only few minutes before the
close OF the board. In the
FINAL TRANSACTIONS
there was rally of IQ% per cent, with
Lackawanna gaining ~, and the market gen.
orally closed barely steady ut the improved
quotations. While the extreme declines were
therefore in number OF instances consider
ably over per cent, the net result of the
days operations is a loss of 1aG14 per cent.
except Union Pacific. which is down | per
cent and Lackawanna u per cent. ST. Paul
cent lower. The street was comparatively
free of news OF Il character to influence. the
market and weakness is ascribable only on
the attacks of leading bears, accompanied by
Il willingness on the part CT bear ciiques TO
permit reaction. With the present extreme
condition OF the money market and the alb
normal amount OF surplus capital awaiting
investment. even at the 1Gt2 per cent.
per annum, there is not bear
operator on the street who does
not admit the power CT the bulls TO sustain
the prices. whenever they are so inclined.
The question in dispute would he as to the
ability Of the clique to sell their stocks at
present quotations The announcement that
the Union Pacific earnings for the month of
April would show a decrease Of S21l,000, as
compared with last year, Is met by the ccun-
reinstatement, made by friends of the COM
pany, that the real decrease was only $780,
600, the new management having adopted
plan of distributing
THE CHARGES FOR TAXES
and other payments throughout each month
OF the year, thus making the difference. The