St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-05-20

600 in dividends. The April statement of the
Pennsylvania road will show loss of $500,
600 in business east of Pittsburg. This is
one result of cutting rates. Still, the last
issue of 4 Il per cent. bonds by this road
was subscribed for three times over at
101 and interest. About 80, 900 shares of
Union Pacific are loaned daily to the shorts,
| and New Y ork Central stock was also quite
scarce to-day, lOaning at about a. 1t was
thought that the market might be dull fol
some time. The bull arguments are easy.
Money and manipulations and the bear Off
sets are poor business and decreased earn
ings and, under these conditions, neither side
can give very decided advantage. There
was little of interest in the dealings through
out the afternoon hours. The market con-
tinued dull. Ii it was not weak, neither
did there appear to be any particular de-
mand from any quarter. The clique stocks
were very well held. In the balance there
was no business, and that was about the
situation when the gong struck.
NEW YORK, May 19.-Government bonds
have been quiet at unchanged quotations ex-
| cept an advance of - per cent. in the price
bid for currency IS. There were sales OF 3s
at 1881, and the As with coupons at 1121s.
State bonds have been quiet and quotations
generally strong, especially for some OF the
Missouri, Louisiana and Alabama issues. The
stock market to-day showed sudden relapse
into dizziness, with only limited fluctuations
in quotations. Only three of the usually ac-
| tive stocks show extreme changes for the day
of as much as per cent, and the threeStOckS
belong to the so-called Gould list. They
| mOnopolized 10000 shares Of a
total days business, aGgregating only
1877, 200 shares. The result of the days opera
iS IN irsra lar al iTlO HCt
about an equal number Of the stocks showing
| advances and declines for no causes that be-h
came apparent to the street. Pacific Mail
was weak during the forenoon and barely
steady thereafter until about the close, when
it again yielded a fraction and is down this
evening 11s per cent. below yesterdays final
price. The present management is issu-
ing a circular,
ASKING FOR PROXIES,
to be used at the forthcoming annual cleo
ton, and they base their claims upon the state
ment that during the past few years they
have added five new steamers, have paid of
the entire floating debt OF 50, $50, 900, and have
paid 81, 125, GOO in dividends, the first that
have been paid in many years. In addition
to this they have secured the repeal of some
unjust laws and the passage of q new and
more equitable law. RumOrs have been in
circulation for the past twenty-fOur hours to
the effect that q serious defalcation had been
discovered in the Union Pacific Office. 1t was
stated last night that the papers in this city
and Chicago were to publish a detailed &C
count Of the matter 1t was said the
rumor was based on claims made
by the Kansas Pacific company
bondholders. The representatives of the
company in this city make the most positive
statements denying the story in every par
ticular, and declaring that it has no fOunda-
ton. In fact dispatch was received this
afternoon from the Union Pacific Office in
Boston saying the rumors Of defalcatlon
in the companys Office was
PURE FABRICATION.
The friends of the company believe that the
story was started by the bears in their des-
peration for the purpose of depressing the
price of the Stock which has had such de-
cided advance recently. There was great
opening of the board this morning,
which came principally from the short
sales made yesterday, but the price
remained strong, and during the day it adj
vanced / * per cent. and closed with gain OF
| a. Lackawanna was steady at fraction
| above 103, with sales in the morning, seller
sixty days at 10D, until toward O'Clock,
| when it rose to 1917 and closed at 104, gain
of Is per cent. The Changers were quiet and
| strong all day, and closed with only slight
| advance over last evening. New York Cen
trail also exhibited some strength to-day, and
closed with gain of u per cent. 1t is stated
| that 100000 of this stock is registered with
| Morgan g. Co., London, and there is a rumor
that an effort is being made ON the other side
| to secure some control. Lake Shore is I'M
| changed. Among the inactive list Oregon
| Railway is down23s per cent. San Francisco
preferred rose from s21a to "a, on sales of
| only $50 shares. The bears, late in the after
noon,
MADE AN ATTACK
| along the line, which led to the weakness of
| most of the stocks in the last half hour, and
the sentiment in the board room at the close
was bearish. 4 rumOr Of a connected bear
| attack was again in circulation this morning.
| Nevertheless the bulls claim that the market
| is heavily oversold, and that they have it so
| well in hand that the general course OF prices
must be upward for some time to come. The
| railway bond market continues active and is
| influenced apparently very little by the stock
market. The total sales to-day were 81, 100, 900,
| the business being very well distributed, and
| prices this evening show irregular changes as
| compared with the last previous sales.
| Figures have been obtained to-day, from the
| office of the Chicago Rock Island d Pacific
| company in this city, from which the follow
ing comparisons are made of the business of
the company for the year ended March 81,
1885: Gross earnings, S12,2O6,9 900,
! DECREASE,
| as compared with the preceding year, OF
| 1928, 614; operating expenses, 81, 160,300 a
decrease of $751;, 1902; net earnings, So, DAG, 000
a decrease of $19O,914. The fixed charges
were 1854, 600, being an increase Of $113,-
345. The net land sales fell Off $4,000 to
| 1880. OOO After paying a dividend of Z pei
cent, amounting to So 397, 900, there was left
| a balance this year of SS45,O00, against
| 81 .2S9, 900 in 1884 1t is stated that the for
| eign bondholders of the Buffalo, New York q
| Philadelphia company have appointed Mr.
/
resent them in the matter OF the reorganiza
| ton of the company, which has now assumed
| q tangible form. The company has ap
| pointed q committee on reorganization &c
confer with Mr.. Schurz and a representative
of the American bondholders, to be ap
pointed.
The sales of stocks to-day aggregated 1877,
| T22 shares, including Delaware. Lackawanns
| & Western IS $50, Louisville s. Nashville 6,315
| Northwestern IL, Ito, New York Central %,
600. Pacific Mail 5000, st. Paul Is, 600, UnioI
! Pacific 2S,320, Western Union 13, 400.
! QUOTATIONS OF STOCKS AND BONDS.
| Stocks and bonds closed at the following
| prices bid:
| Three per cents. 1881 Louisville & NJ. 335,
q. S. 41as.."... 11254 Louisville & Ma. %
| u S. news Is .122 Memphis & c.. SO
| Pacific IS of '95. 1897 Michigan Cent 40
| G. P. Bonds, lists. 1131s Min. & ST. L.. IL
| Erie seconds -. 502s do preferred. 20
| Lehigh s. W+.... 81 Missouri Pacific. 953l
La consols. 49,. rs Mobile & OhiO... Z
| Missouri IS 80. .104 Morris & Essex. 1927!
| St. joe .117I Nashville & Co.. 3734
| St. P g. sc. lists. 120 N. J. Central. -. 35l
| Tenn. IS, old. :. As Norfold & w. pf. II
| Tenn. 6s, new. 40 Northern Pac... 1654
| Tex. P. grant B. 35 do preferred. 80
| do Rio G div :. 5334 Northwestern -. a. 4
| U. P. lists. 49,. .115H do preferred .12S
do land grant. 106 Ohio Central 80. 1871
| Sinking fund. .120 N. Y. Central -. q
| Virginia 6s 49,. 80 Ohio s. Miss. -. 1921
| ConsolsT ..... so do preferred 81
| Deferred Ontario s. West. n
| Adams Express 1874 Oregon Trans. 1872
| Alton T. H. II Pacific Mail. - 53L