St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-05-22

vanced and closed at 951sc; 9514c for June.
and 971a for July; No. 2 northern, cash, Soc;
No. hard, June, 92c; northern, June, 9214c;
No. 2 northern, June, S9c. Receipts-12,3 300
bushels. Shipments-107,40 400 bushels.
FINANCIAL.
New York.
Special to the Globe.
NEW YORK, May 21.-At the stock ex-
change the market opened quietly. The
Vanderbilts were & lower and Lackawanna
and Western Union 1s@4 higher The
little furry in English consols encouraged
the bulls to believe they could send the
market up with whoop, and they tried it
on, but the plan didn't work as they thought
it would. Union Pacific and Lackawanna
were advanced M@M and then the wheels
stopped. Gou Id and White sent brokers
into the room to bid up prices without buy
ing anything, and one or two went bobbing
around and shouting to the great amuse-
ment of parties on the other side. The
only strong stock was Pacific Mail, which
advanced to So on reports of an increased
subsidy having been granted them by the
Pacific roads. The most active property on
the list was Erie secon d. which were
SOLD RIGHT AND LEFT
and fell during the forenoon to 4SL. The
prospect of any dividend being paid on
these bonds for some years is at present
very dim and there is really nothing to suS-
tain them except the large short interest
ouT. The Changers and Vanderbilts were
both quiet and steady, and fuctuated very
little. Omaha preferred opened point
higher, but was not active. Lackawanna
seemed to be held around 104. The borrow
ing rate on stocks is kept high good share
of the time, SO as to make short selling I'M
profitable. d. P. Morgan was reported
buyer of Pacific Mail, even at the advance.
The London stock and financial markets
were depressed by fears of more trouble
with Russia. Both bulls and bears are very
very confident of coming out ahead in the
long run. Gould and White say that prices
are going up, While Cammack and his party
say the market will crack open some day
before anyone expects it. The two forces
are quite evenly matched for strength. ST.
Paul people claim that Wisconsin Central is
WELCOME TO ALL THE FLOUR
business it can get from Minneapolis to
Green Bay and across the lakes. They also
say that their read is earning per cent. on
its stock and paying its floating debt. The
feeling in London is very bitter against Mr..
Vanderbilt for not taking care of his stocks
better, and Mr.. Vanderbilt retorts that if
the London people want New York Cen
trail they can have it. The Northern Pa
citic direc tors met to-day to act in regard to
the lease of the Oregon Navigation.
The market dragged its slow length
along during the afternoon hours, and there
wasn't business enough to employ dozen
brokers. The bulls still cling to the hope
that Mr.. Gould and his ally are going to get
things out of the rut in time, while the OPP
position predict that nothing but a break,
and wide one at that, will inStill any life
into the market, which is running into
case of dry rot from day to day. The deal
ings at the last were of no consequence and
entirely featureless Union Pacific was
worked for all it was worth all day, but the
scalping fraternity do not hesitate to snatch
small profits The close was extremely dull
and without feature.
NEW YORK, May 21- Government bonds
are quiet and unchanged at quotations, ex-
cept a decline of IA in 3s. There were sales
of IS at 1881 and the registered is at 12TH
and the As with coupons at 122.
State bonds were weak with decline of l
to 2 per cent. in quotations for some of the
sales of Louisiana consols at 1874 and the ex-
ira matured coupons at 64%. The sales at
the stock exchange to-day foot up about the
same as yesterday. Transactions to-day were
122, $50 shares, but of this 40 per cent. was
done in the first honr, and from that time till
the close of the board the dizziness was as
great as at any time for months. There was
absolutely no feature to the. market. The ex-
IRENE fluctuations in the active list in no
case exceeded u per cent. except Union Pa
cifc, which was traded in within a range of
e per cent, and Pacific Mail, which fuctu-
ated 1 per cent. The closing prices this
evening are small fractions higher than yes
terday, the gains ranging e to M per cent.
THERE WAS DECIDED STRENGTH
in early dealings in Pacific Mail and Union
Pacific, due to the general belief that the diff
ferences between the Pacific Mail and Pacific
railroads had practically been settled. Mr.
Huntington stated to the Central Pacific to-
day that he thought the subsidy ought to be
reduced TO $4,000 per month, but the Pacific
Mail officials insisted on $4,000, and he finally
agreed to settle the difference at So, 500. The
matter now rests, he said, with the Pacific
Mail company. but he thought it would agree
to the terms mentioned. He also called at
tention to the fact that the whole question is
subject to the ratification of the Transconti-
mental lines, but he would recommend set
Element upon the basis mentioned, and he be-
leved the others would acquiesce. The
street regards the matter as practically
settled respecting the Oregon Railway &
Navigation lease to the Northern and Union
Pacific It is stated late this afternoon that
the progress has been made but no conclu-
sion has yet been reached. There was
meeting at the Northern Pacific office this
afternoon in regard to the matter. The gen.
eral impression in this case is also that set
tlement will be made satisfactory to all par
ties interested.
THE BULL PARTY IN THE MARKET
continues very confident, claiming that the
extreme of the money market must lead to
increased purchases for investment. They
also insist that the short interest is growing
large, especially in Union Pacific, in which
they claim the short interest amounts to as
much as 100000 shares. 1t is said that Penn
sylvan1a, Lackawanna and West Shore roads
have all agreed to a restoration of rates be-
tween New York and Chicago, and that a
formal demand will be made upon the New
York Central to do the same. If this is re-.
fused it is alleged that move will be made
before the attorney general to remove the
directors for maladministration.
CROP REPORTS
have been received to-day fromMr Hoxsie of
the southwestern system, showing that the
business of that system during the current
year promises to be very much heavier than