St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-08
FINANCIAL.
New York:


New York.
Special to the Globe.
NEW YORK, Nov. THE feature of the
early market in stocks to-day was sharp
break in st. Paul, after strong opening,
on the report that the Missouri Pacific had
given notice of withdrawal from the Council
Bluffs Omaha pool, owing to the refusal OF
the st. Paul to report its dressed beef from
Council Bluffs at tariff. The speedy
breaking up of all OF the west
ern pools was predicted, and large
lines of st. Paul & Granger stocks were
thr IN on the market. breaking prices from
one to two points in this class of securities.
Later in the day the story was officially de-
MED by the commissioner of the pool, and
inside advices We're made public to the effect
that st. Paul earnings for the first
week of November would increase over
$3.50, 900 and Northwestern for the
same period over 500, 900. The Changers
advanced on these reports, ruling dull the
greater part of the day. The settlement of
trunk line affairs and final signing of the
articles of agreement served to strengthen
the trunk lines. Lake Shore re-
corded a good advance. The Lon
don market was reported very strong,
and English houses were large buyers of
American securities Louisville IL Nash
vile was advanced ~ points and it was
given out that pool had been formed i'll
the stock and that the price would be put
above so. The trunk line stocks held the
advance well. Commissioner Fink
was quoted as saying that the
agreement entered into among the trunk
lines was simply contract to regulate and
maintain tariff. Not word was said IN
the agreement about the pools. The prin-
cipal feature was that all lines should act in
a body in maintaining and making
rates. From another source it
was learned that all lines, with the eXcep-
ton of the Lehigh Valley had agreed that
all questions arising under this contract
lines shall discontinue any tariff agreement
which shall decline or fail
to maintain the established tariff,
and no agent or officer of any roads shall
have the power to vary from any of the
agreed joint tariffs. The practical settle
ment of trunk-line troubles by the new
agreement was a source of strength for the
whole market.
NEW YORK, Nov 7-Government bonds
uull anu SUGduy. Sldl6 JULIUS ull dIlu uSdNy.
The dealings in railway bonds were again dis
tributed over large list of securities, but the
transactions in most cases were for very
small amounts and were not as large in the
afternoon as usual. The total sales were
S3,021.000. There was increased trading in
the Erie second consols with sales of S1,29l,-
900. Prices closed irregular. but generally
higher. The Northern Pacific Railroad COM
pany has asked the Stock exchange to list
$50, zoo, 600 of its second mortgage per cent.
bonds, due 1885, The Columbus, Hooking
Valley s. Toledo company applies for the list
ing of 1885 shares OF its stock in addition TO
the amount already listed The total sales of
bonds during the week were S15,3l7, 900,
against S22, 1924 600 last week. The London
quotations for the leading American securi-
ties indicated very decided change in the
English market, and the figures were accom-
panied by the statement that American Sc
curities were in great demand. The market
here responded by opening from Il to q
higher, Lake Shore leading. This display OF
strength, however, was very short-lived, and
in the next twenty minutes there was de-
cline of % to l y per cent. This was followed
by partial recovery in the forenoon
but this market, for considerable time, COLI
tinued feverish, irregular and active. Prices
in the afternoon were comparatively steady,
but firm on small fluctuations until late in
the afternoon, when some of the most active
stocks developed renewed strength, which
was most cons icuous in the final dealing,
the market closing at or not much below the
highest figures Of the day, and with gains of
1901 per cent, except for a few of the
most active stocks which advanced from 10
2Y per cent. The most prominent feature
of the market was the great activity and
strength in Lake Shore, the total sales amount
ing to 95, 100 shares. St. Paul and Louisville
& Nashville Jointly contributed as much
more, and the remainder of the days busi-
ness 273, 900 shares, was pretty widely dis
tributed Lake Shore opened at 845s, the
next sale was So and from that it
broke in a few minutes to 81, but
rallied in the forenoon to 1913
later it sold up to S634 and closed "a lower,
with net gain of 27s per cent. The advance
was uuaccompanied by any important news
having tendency to influence the value of
the stock. but the statement comes from
semi-official sources that the scheme which
has been discussed in Wall street for some
time past, by which all the Vanderbilt lines
west of Buffalo and terminating at that city
will be operated upon plan somewhat SIM
liar TO that by which the Pennsylvania COM
pany now operates its lines west OF Pitts
burg, will be carried out. New York Central
is q higher than it closed yesterday, with re-
markable strength, accompanied by unusual
activity in Louisville IL Nashville, showing
gain of q at the opening at 1874 from which
it advanced in the morning to 46I, and
after yielding to 451a, sold again IN
the forenoon to 465S, in the afternoon it adj
vanced to 4S% and closed 80 lower, with net
gain of 25S. Northwestern was remarkably
steady in the forenoon, between 1111s@11134.
It did not go above liz and closed at that
price, gain of q per cent. st. Paul showed
more feverishness and after selling at $50
951s at the opening yielded quickly to 93@,
but rallied in the forenoon to 9434 and in the
last hour sold at 951, at which it closed,
gain of p per cent. Union Pacific sold in
the morning from 5S3s down to 573s and in
with an advance of IL. Western Union is
up only e after fluctuations of p per cent
Michigan Central is up IL, Lackawanna l,
Canada Southern q. 1t is said that
some of the bank officers are growing
uneasy on account of the class of
securities that are being offered b. operators
and that loans are daily rejected on account
Of the poor securities rendered. The changes
in quotations this evening from those of a
week ago are generally unimportant, and the
advance and declines are pretty nearly
equally divided amongst the active stocks.
The greatest advance was St. Paul So,
Union Pacific 4, Lake Shore and Louisville
& Nashville rs. The declines in no case
amounted to as much as per cent. except
Missouri Pacific, which is down 254 The
sales for the week were 2,567.000 shares, an
increase over last week of 0,000 shares.
The total siles of stocks to-day we're 464. 757
shares, including Canada Southern, 5,075;
s. Western, 1920; Ere 21,92S; Kansas g.
Texas, 10. sos; Lake Shore, 95. los; Louisville
& Nashville, 42,550; Northwestern. 1850;
New Jersey Central, 20.515; New York Cen
tral, IL, 100; Reading. 1920; St. Paul. "a, 121;
Union Pacific, 80 $50: Western Union. %. T40: