St. Paul daily globe., 1885-02-04
FINANCIAL.
New York.

Specldl 1eiegrHln.
New YORK, Feb. 3.-Stocks were strong
to day, and at the top prices were 2 per
cent. higher than yesterday for Lackawanna,
19s for Delaware e. Hudson, q for Jersey
Central, q for Lake Shore, q for New York
Central, g for Northwestern and st. Paul,
Union Pacific. The card of the day was
Lackawanna, which was traded in to any ex-
tent, and the talk of par was raised 1t was
higher to-day than for any time since the
first of the year. The dealings in Lscka-
wanna and St. Paul constituted the market.
The prevailing feature outside of these
stocks was dullness to the extreme. The
Gould party are said to be rather
BULLIsH ON ST. PAUL,
but everybody appears to be sitting on this
stock and probably the new pool hasn't got
all the shares 1t wants. Vice President
Wadsworth said concerning the report that
the st. Paul owes the shippers over its lines
So, ,000,0 900 for rebates, that the company does
not owe dollar for such purposes, and that
the SO, 751.295 net earnings for last year Is
clear of offsets of any kind. He added: 'All
interest charges, and a full per cent. divi-
dend was earned on both classes Of stock,
AMI while will not say in advance what the
next dividend will be, l will say it was earned
and know of no reason why it should not be
paid. The company was never in better
condition financially or physically, and unless
there are some great changes in the general
situation in
MONEY MATTERS
in railroad earnings or in general trade, my
view is that it will be the duty of the direct
ors to pay the stockholders the dividend for
the second half of 1884, which was honestly
and fairly earned" The stock was lower in
London to-day. The short interest in all the
leading shares is quite an item and that ele-
ment was considerably alarmed blythe strength
visible to-day, and covered in no small
amounts. The country is flooded with bull
points, but the lambs who surround the ex-
change still appear to be lookers-on and not
participants, while many levelheaded opera
tors are inclined to take the bear
side on all advances, predicting
collapse later on. 1t is generally
conceded that Mr.. Gould is at the bottom of
the whole upward movement. The Mail and
Express, in its financial review to-day, takes
AN ENCOURAGING VIEW
of the financial and business situation. 1t
says: ''The stock market continues to
harden, and higher range of values was es-
tablished again to-day. The circle Of buyers
is gradually widening, and more interest is
now manifested in share speculation than
for long time"
Past evidences Of improvement in general
business are daily cropping out,
and to-day we have the announce
ment that the Edgar Thompson steel works
one Of the largest establishments of its kind
in the country, which gives employment to
5000 men and which has been idle since
Decemb ber last, will resume this week. The
managers Of leading railroads, especially of
western lines, report that they are offered
more freight than they can transport. 1t 10
the com bination of favorable circumstances
that is inspiring and increasing the conf
dence in prices on the stock exchange and
leading to purchases of good railroad prop
critics, both for Investment and specula-
ton.