St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-05-11

lOanlng rate OF LnlS StOcK ana also OF Erlc
seconds was A@ss of per cent. for daily
use. Ohio & Mississippi, on the other
hand opened "a lower, and Omaha pre-
ferred showed another weak spot, selling
off u to II and then rallying to 70. Pull
man acted as though it was aimed for the
sky, opening ~ better and climbing rap
idly to 120 This was the figure marked
for it some weeks ago. AS early as IL
o'clock it was evident that the insiders had
received private adviceS from the Wander
bilt party in Chicago, and the patch-up Of
the Northwestern pool was used with tell
ing effect by the bull party, and until the
close they had everything their own way
STEADY PRESSURE
was applied to Northwestern shorts, and
the strength extended to other lines. The
Changers were in the lead a long ways.
Northwestern during the forenoon rose to
9424, st. Paul to 691s, Union Pacific to so,
Pacific mail to 5514, Lake Shore to 1914,
and Lackawanna to 1041s. New York
Central at first did not respond to the adj
vance, but later it started and caught up
with the others. COmmack is said to have
covered 40, 00O shares of short stock within
the past two days, and to have made about
$500, 900 on the turn. Others have evened
mp largely, leaving only limited short in
tereSt outstanding. Everything seemed to
hang on to the result OF the meeting to settle
Northwest difficulties, and as a favorable
result was anticipated, buying was the
order of the day. Even WOeriShOffer
was said to be buying the Changers. Van
derbilt declares he has not sold share of
his stock and does not want to. He goes
to Europe on one steamer and back on the
next. Chicago was leading New York in
it's own field to-day, and parties down
there were quite anxious to hear the latest
from this city. Parties here were large
buyers of the Changers yesterday and to-
day. During the first four months of 1885
the earnings of Mexican Central increased
$40, 900, of Louisville & Nashville $685.
900, of st. Paul 1858, 200, while those of
Northern Pacific decreased 1866, 200. The
st. Paul clique say that stock is
UNDER COMPLETE CONTROL.
Gould, White and Morgan remain at the
bull side and talk confidently as usual. AS
the day waned the market gathered
strength and closed firm at about the best
figures of the day for nearly all stocks.
NEW YORK, May 10.-Government bonds
are quiet and strong, quotations showing an
advance OF Is on the As and 3M per cent. for
the currency 6s. State bonds have been
more active than for some time past, espe-
cially for some of the Tennessee issues and
prices are strong. Railroad bonds have been
very active, with large business in Erie Sec
onds, new, and West Shore tirsts and a good
business in other issues. Prices are gener-
ally strong. The stock market opened strong
this morning for almost everything except
New York Central, which was heavy, and dur
ing the forenoon developed no other feature
than thQt nj active market with StnadV
buying by both bulls and bears, the latter
covering shorts, while there was "a fair
amount of business done for the long ac-
counts. Pfter midday prices became more
quiet and weak and in some cases the lowest
quotations OF the day were reached,
rally during the last hour which
continued until the close Of the board the
market finally closing steady at the advances
made and generally within small fraction of
the highest prices reached. The interest Of
the street was centered in the news from Chi
cago regarding the meeting of railroad off-
Gals in session there to-day, and the final rally
was made after it had been announced that
the settlement of everything in the West and
Northwest was complete, and that rates would
probably be restored On Monday, the plan
adopted being satisfactory to all the roads.
The continued repetition of the statement
that Mr.. Vanderbilt was acting with some Of
that he was heavy seller of short stock, led
to his authorizing the publication of a state
ment, too, in which he says: There is not a
word Of truth in the stories that l am
operating with Mr.. Cammack. I am not
interested in any way either with him Or
somebody else bearing the stock market. I
have not sold share of Central since I sold
350, 900 shares to the syndicate in November,
1879. / have not sold q share of Lake Shore
directly or indirectly for months. Do you
think / would sell Lake Shore ut these prices?'
The statement of the New York Central for
the quarter ending March 81. to be submitted
to the railroad commissioners it is announced
will show a decrease in the gross earnings Of
$3.50, 900, decrease in the net earnings of
$500, 900 and a deficiency after paying a per
cent, dividend of 5000 also that the state
ment will show that only little over One-half
of per cent. was earned on the stock for the
first quarter of the current fiscal year. The
result of the days operations on the stock
exchange is net advance OF
% to IL per cent. for the active stocks,
the greatest gains being made by
the Northwestern and Michigan Central, but
New York Central, Lake Shore, Pacific Mail,
and Lackawanna are each up %, ST. Paul and
Delaware g. Hudson each %, and Western
Union u. The total sales were 22S, ISL, but
of this amount about 25 per cent. consisted of
Northwestern, and 100000 shares Of that
stock, St. Paul, Union Pacific and Lacka-
wanna. One-half of tO-day's business was
done during the forenoon. Northwestern
opened 93%, sold in the forenoon at 9459,
touched 93T Just before 2 o'clock and then
rose to 951s and closed 95. St. Paul sold first
at SO, dropped to 6S5s, and rallied to 691a be-
fore midday, sold in the afternoon down to
68A and rallied to 6919, at which it closed
New York Central opened at S654, sold as low
$685. early in the day, it's lowest price, and
then at s7A in the forenoon, broke to
II
rally reacted to s756, but closed
at 873S. Lake Shore strong at 527a0537s dur
ing the forenoon, fell to SO about o'clock
and in the last hour rose to 81, closing at
535s. About the only weak stock on the list
in which there was any trading of Importance
was the Central of New Jersey, which is down
81 at SO after selling as low as 35ss. Notwith-
standing the decided rally during the past two
days, almost everything on the active list is
lower this evening than week ago, the eX-
ception being Northwestern, which is IN
changed, and Union Pacific, which shows an
advance of % per cent. Among the inactive
stocks Chicago, Burlington & Quincy also
shows gain of l "a and Manhattan CONSOLE
dated 1ss. The greatest declines are in Lake
Shore 45a, New York Central III, Michigan
Central ~, Lackawanna ~, and
other stocks for less than 1 per
cent. The total sales for the week
were 1,6O9077, or more than double the pre-
vious weeks business, but Of this week s
transactions Northwestern, St. Paul. Lake
Shore, Lackawanna, New York Central and
Union Pacific contributed 200. 900 shares. The
railway bond market has been unusually
active, the total sales amounting to So 101, 00G,
but of this sum Erie ends new contributed
over 100000 and West Shore, Atlantic s.
Pacific, some of the Missouri, Kansas s. Texas
issues and st. Paul issues were also active.
Prices generally were higher this evening
than last previous quotations
The total sales of stocks to-day were 22S, ISL
shares, including Lackawanna 20,665, Lake
Shore 1885, Northwestern 81, $50, New York
Central 1900, Pacific Mail 6,775, St. Paul
43, 725, Union Pacific 1856, Western Union
1904.
QUOTATIONS OF STOCKS AND BONDS.