St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-21
Western AssociatedPress.

western AsS0claIeQFreSs.
NEW YORK. March 20.-Governments are
quiet and unchanged.
Railway Bonds-The market was quiet, with
limited business in all except West Shore lists,
Nickel Plate lists and Erie ends new, the total
transactions in which amounted to about 81 per
cent of the days business.
State Securities-Inactive, but strong.
Stocks-The feature of to-day's market has
been heavy trading in Pacific Mail, accompanied
by further decline in the stock of % per cent.
The complications growing out of the fight with
The Pacific railroads and the notice of the Union
Pacific to the Steamship company of its intention
to discontinue the subsidy paid by railroads to
that company were further complicated to-day
by notice from the Central Pacific. This settles
the question to q formality notice to the
Steamship company, and unless readjust-
ment arrangement between the different
companies is effected it ends monthly payments
of about sos 900 by railroads to Pacific Mail after
the expiration of the time required in the old
contract. a new agreement with reduction in
the subsidy was limited st day, but President
Houston Of the Pacific Mail Is credited with the
statement that proposition looking to re-
duction of the amount to be received by his
company would be considered. There has been
heavy selling for short account, but it is believed
tonight that insiders Including some OF the
directors) who were heavy holders of Pacific Mail
stock have also unloaded. Late this afternoon
the stock sold down to 49H, and closed with the
last sales at 49st and At 491i bid. This is de-
cline OF about II per cent in three days. Trading
in this stock to-day amounted to over so, 200
shares or 30 per cent OF the total days business
The general market opened strong and in the
first hour made slight gains, the bulls being aided
in their efforts to support the market by dispo
siton by the bears to realize profits. With this
check to the general decline the market became
dull, and prices remained steady after the first
hour until after midday, when consider able
weakness was developed in Union Pacific. During
the afternoon the statement was published that
Gould had sent a letter 10 President Adams of
the Union Pacific declining a e-election as mem
Der Of the board of directors OF the company
This and general impression which prevailed
that the complications between the Union Pacific
and Central Pacific companies were daily assum-
ing more serious character were the cause for
breaking Union Pacific, which sold down to 414
and closed feverish at 42H, loss OF q per cent.
drive was made at Delaware Lackawanna 81
Western late in the afternoon, which fell to
lU2Sa aud closed AT tnaI price, u loss Oh ~ per
cent. after selling earlier high as l03z
Texas Pacific is also down g per cent. at liz,
and Missouri Pacific Is 4 per cent. lower at 81 y
on light transactions. In the face OF weakness
the stocks above mentioned Vanderbilts and
Changers, were remarkably strong, although
they yielded fraction during the last hour.
The transactions amounted to 27i 900 shares:
Delaware, Lackawanns Western $4,000,
Chicago & Northwestern $4,000, New York
Central L. 900, Chicago, Milwaukee & st. Paul
$4,000, Union Pacific AZ. 900, Western Union Tel
egrsph $4,000.
QUOTATIONS OF STOCKS AND BONDS,
Stocks and bonds closed at the followir