St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-06-27
FINANCIAL.
New York.
Special to the Globe.


Special to the Globe.
New YORK, June 26.-The report of the
Pennsylvania for May is regarded as great
bear argument, particularly as against the
trunk lines, and there is in consequence a
very weak feeling. The loss of the City of
Toxic still has very depressing effect on
Pacific Mail, and the influence is felt all
along the line. Favorable spring wheat
crop reports impart little strength to the
grangerS, but there are no favOrites. 1t is
reported here that Armour has directed
Schwartz & Dupee of Chicago to buy in all
the st. Paul they can at present prices. At
the stock exchange the market opened 80
IS lower for the general list and Is
lower for Pacific Mail. The stock
opened at 80, sold down to
491S and rallied to 500 during
the forenoon, with very lively trading in it.
During the depression in this stock the
whole list ran off about %, but rallied some
at later hour in the session. ST. Paul, as
usual of late, was notably strong and adj
vanced to ~ in the general recovery. North
western early was down to 931s, and sold
up to Is. The Vanderbilts were notably
weak. recovering slowly. ManipulatiOns
in Jersey Central were prominent, the stock
selling off to 1923 and advancing to 40A.
Mexican Central bonds opened this morning
at $685. The quarterly dividend of
Lackawanna, it is thought, will be the
usual per cent, but the stock looks and
acts feeble, and the Osborne party say
some
INSIDER' Is SELLING OUT.
Is it the old deacon, ever sly and vicious?
West Shore bonds were again higher, and
the deal in them is not yet over, tits said.
At the outset nearly everybody was selling
stocks and the feeling was decidedly bear
ish. The Gould party are doing nothing,
and the Osborn crowd advise their friends
not to buy until after the Fourth. The
earnings of Omaha for the third week in
June decreased 81, 900. Erie officials were
reported to be throwing overheard bonds
they had held for long time. Vanderbilt
says the earnings of the Northwestern will
begin to improve after the next week, and
the same authority states that good
stocks are now a purchase in the reac-
lions. The Pennsylvania railroad statement
for May was so unfavorable that it was
construed as bear argument against New
York Central and Erie. Reading will pay
interest July on the first mortgage bonds
of its own road and on that of first-class
not pay anything on Jersey Central inter
ests then due. AS whole the market is
puzzle to the best and oldest heads in the
business. Predictions are idle and the only
thing any one can do is to wait and see
what each hour brings forth. The market
finished up about steady, prices generally
showing small declines from the opening
figures.
NEW YORK, June 26.-Government bonds
are quiet and shade lower for the Is and
AIS and steady for others. State bonds have
been quiet and quotations steady The rail-
way bond market has been less active than
for some time past, and after deducting sales
of West Shore lists, amounting to S344,O
and of Erie I'd conSOls, 5000, there remains
only $466,000 for the remainder of the list
Prices were irregular, but there was more
than the usual number of declines. The
stock market has been quiet; the total sales
for the forenoon aggregated about so percent.
of the days business. AT the opening the
market was weak and in many cases the low
est prices of the day were made before IL
o'clock. This was followed by a reaction,
and the market continued strong I'M
til 2 o'clock, when the highest prices
in most cases were reached. In the last hour
the market was again weak, Louisville g.
Nashville, the Central of New Jersey and
Union Pacific losing all the previous gain and
something more. The market closed barely
steady and irregular, but everything on the
list is down e to u per cent, except Pacific
Mail, which shows loss of "a, Central Of New
Jersey q, Louisville g. Nashville 81 and Read
Ing " The bears have been heavy sellers
of Pacific Mail during most of the day, but
there has appeared also some buying by the
friends of the company and others
who have faith in the property.
1t is generally understood to-day
of of TOlin ic fofo lose
The officers of the company state they have
enough steamers, however, to do the business
Offering without the City of Toxic, and it is
understood new steamer will be ordered very
soon. There is at present $4,000 in the
building fund, and the officers claim that
$1,000 per month can be added to this fund
without in any way affecting the
FUTURE DIVIDENDS,
and without drawing upon the surplus of
$500, 900. 1t is semi-officially stated the COM
pany's earnings for the current quarter were
at q rate of 10 per cent. per annum. The
City of Sydney of Australia, which is ready
for immediate SERVICE has been ordered
to take the place of the City Of Toxic
in case the latter is totally destroyed.
After the break in the morning to 40%
the stock rallied to 505s in the forenoon, and
was less active and weak in the afternoon,
selling down again to 1879 and in the last
hour was about steady at 1926. st. Paul con-
tinues to exhibit decided strength apart from
the rest of the list and was again the most
active stock. The fluctuations were within q
range of % per cent and it closed this even
ing with loss of IS. Northwestern was dull
and q per cent. lower There was less bust
ness in Manitoba The stock rose at one
time to 100 and closed n per cent. lower. The
stories that have been circulated to the effect
that Manitoba was to pass under the manage
ment of the Chicago, Burlington g. Quincy
are not generally believed by well-informed
persons in the city, and it is semi-oficially
stated that whatever the plans of certain
parties in its interest may be, nothing official
has been done. The total salemof all stocks
were ga, 800 shares, of which S. Paul, Pacific
Mail. Lackawanna and Louisville s. Nashville
contributed nearly 20 per cent The stock
exchange has suspended dealings in Pitts
burg, McKeeksport & Youghiogheny stock,
of which $4,000, 900 were recently listed, until
the c0mDanV established from fa,. ff1oa II,