St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-17
FINANCIAL.
New York:

New Work:
Special to the Globe.
NEW YORK, Nov. 16.-The first quota
lions this morning indicated that the stock
market had recovered from the depression
in which it closed Saturday night. At the
opening the Changers were the strongest on
the list. but the early strength in these
specialties was not sustained. A flood OF
realizing orders knocked st. Paul down q
of a point. About this time the line Italian
hand of Gould began to become apparent
in a steady marking up OF prices OF West
ern Union and the Wabashes. The shorts
in Western Union were treated to squeeze
of IA points, after which the price was al
lowed to drop fraction. 1t was stated
that the advance was caused by the rumor
that meeting Of the telegraph companies
had been called. This rumor was
afterward denied. Wabash preferred
and common advanced two points, and the
trunk lines were very strong, New York
Central advancing to 1875, with London
heavy buyer. Kansas & Texas was again
advanced on Chicago buying. 1t was stated
that the strength of Lake Shore and other
Eastern stocks was on the report of the pro-
jected
to include that road, the Cleveland, Cincin-
natl. Columbus & indianapolis, the Penn
syIvania and other roads operating in Ohio
and Indiana, The aggregate transactions
were very large, sales to noon being 404, $40
shares. St. Paul led the market in point OF
speculative interest, and on reports that the
pool in this stock was realizing and that
Armour had thrown on the market large
amount of the stock, the entire market
weakened, St. Paul selling down to 96M.
The Changers generally sympathized, but
in a less extent. The sales in st. Paul ag-
gregated about 100000 shares. and
the heavy trading was taken
to indicate large realizing. Except for the
weak and unsettled condition of st. Paul.
the market was fairly steady, with most OF
the stocks inclined toward higher prices.
Toward the close the disposition to get out
of st. Paul became more pronounced than
ever before. The fact that Greene & Bate
man, Armour brokers in New York, had
unloaded over $4,000 shares Of this stock
was very discouraging to holders. Under
heavy sales the stock again began to drop
and stop orders accelerated the decline.
The stock dropped as low as 921a and then
improved little. The market, however,
was carried down. Transactions were the
largest for any single day in the past two
years, and were largely of a realizing char
acter.
NEW YORK. Nov. 16.-Government bonds
were dull and steady. State bonds were dull
| with tendency to weakness, notwithstand-
| ing great activity in the stock market the
trading in railroad bonds was larger than on
| any preceding day this year Or for several
| years past. The total reported sales were
| $685. 900 shares. Over one-half of this was
nearly equally divided between Erie second
| common and Atlantic & Pacific incomes. The
remainder of the business was widely dis
tributed. With few exceptions prices are
higher. Atlantic & Pacific incomes
| were particularly active during the
afternoon and closed with an adj
vance of 2A. Erie seconds made 8
net advance of per cent. This was another
| extremely active day on the stock exchange.
| The sales during the first two hours of bust
| ness were never exceeded in the same length
| of time. The total sales for the day are
| nearly as large as those of Saturday, amount
| ing to 76S,000 shares. The business continues
| to be confined principally to a few stocks, St
| Paul, Western Union, Erie, Northern Pacific
| preferred, Lake Shore and Missouri, Kansas
| & Texas contributing 800 shares. St. Pau
| was again the leading feature. The transac
| lions foot up los, 500 shares, and for the past
two days 31S,00O shares, or more than the
| TOTAL CAPITAL STOCK,
common. of the company. 1t is now gener
ally conceded that the public was an active
buyer of stocks. 1t is believed the St. Pau
pool, including the Chicago holders, has sue
| ceeded in marketing large block of tho
| stock at very handsome profits. The genera
| market was very strong at the opening, fol
| lowing decided advance in London quota
lions. The gains range from q to q pei
| cent for the active list. In some cases there
were further slight advances. then the mar
| ket became heavy and lost fractional amounts
| By II o o'clock another upward movement hat
begun, which carried quotations as rule
| to the highest prices of the day at some time
before 1 O'Clock. In few instances the
| highest prices were made immediately after
the opening, and in a few others not unit
| near O. clock. After the movement wa:
| downward, and although there were reac
lions, the lowest quotations reached were
in the last hour, in many cases
a few minutes before the close
In the final dealings an upward turn was
| given and the market closed apparently
| strong. The strength, however, was of sucf
| extremely short duration as to impart little
| permanency to the dealings. The movement
| of prices throughout the day was irregular
and for most of the time feverish. The low
| priced stocks that have been dormant for
long time past were not forgotten. There
was active trading in Atlantic & Pacific a
| 1OM@1IA, closing at 1919, with sales of II. 30l
| shares. 1t is understood that strong bull
| pool has been formed in the stock and bonds
| of this company. Mobile & Ohio sold at 145l
@15sS and closed at Is. Nickel Plate, boil
common and preferred, attracted
| CONSIDERABLE ATTENTION,
but the common is a shade lower. while tn
preferred is up u per cent ST. Paul & Du
| iuth sold from 294 to 315s, but closed at 3019
and the preferred advanced from 81 u to 95$4
closing at o31a. The closing quotations thi
evening as compared with Saturdays shov
generally advances ranging from small frac
tiors to over 2 per cent. Among the old &C
tive list Western Union, Pacific Mail and tn
Northern Pacifics are the only stocks tina
show a net gain of as much as per cent
There was decided activity in the Wabas
issues, the sales of the common amounting t
II, ZOO shares 1t closed with gain of 2 pc
cent, at 121a. after selling at Ii. while tn
preferred closed with a gain OF 2s4. Th
only important declines are in Louisville
Nashville "a, St. Paul q, Lake Shore an
Lackawanna each 4, Northwestern, Mich
gan Central and Texas s. Pacific are Ill
changed.
The total sales of stocks to-day were 767, go
shares. including Canada Southern, $3.50
Delaware, Lackawanna Western, 11,571
Erie 6O,550; Kansas s. Texas, 1905; LAX
Shore 423TS; Louisville g. Nashville, 6,01(
| Lake Erie & Western, $3.50; New Jerse
Central, 5,11s; Northwestern, 1890; Me-
York Central, 1880; Northern Pacific
Il, $780, Ohio s. Mississippi, 1900; Reading
$500; St. Paul, 165,535; st. Paul s. Oman,
16. 42O; Texas Pacific, 1890; Union Pacific
: 1886: Wabash s. Pacific, 1857; Wester