St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-07-15
EENAN CIAk.
New York.
Special to the Globe.

Special to the GLOBE.
NEW YORK. July 1.-THE market was
waiting one to-day. 1t was on all sides con-
ceded that the speculative line of long stocks
held in Chicago had been liquidated, and op
orators generally were waiting for the result
Of the meeting of the managers Of the West
ern roads before venturing in again. The
general opinion was that nothing would be
done at to-days meeting. and up to noon gen.
eral opinion was right. A rather strong open
ing was made by the cliques, presumably to
Sell stocks on, but from the first there were
more sellers than buyers, and prices slowly
eased off. 1t was reported that the
strike OF the Western Union op
orators in the West had come to an
end. Lackawanna was by far the most
exciting OF any on the list, and, judging from
the course Of quotations, the clique6in it were
favoring lower prices for to-day at least.
Pacific Mail was rather strong and the talk
was that the pool in it were still accommodating
stock preparatory for big advance, IS being
predicted in the near future. The big in
crease in New York Central earnings for the
month of June, amounting to 1851, $3.50, made
traders rather bullish on it, but the situation
in other respects was so Enthusiastically bearish
that there was no effort to advance
prices. The meeting Of managers
at Chicago adjourned without accomplishing
anything and the outlook was conceded to be
about as bad as it could possibly be. In adj
had made new cut in freight rates west of
Chicago and that the Grand Trunk was cut
ting rates on provisions from Chicago to the
seaboard. The market held well in view of
all the unfavorable news, but there was no
disposition to buy. 1t was predicted that
rates west of Chicago would continue demon
allied for some months to come, and in the
meantime prices it was held by conservative
traders now out of the market, would drift
lower. The close was at about opening
prices.
NEW YORK, July H.-Money on call is
ranging from u to ~ per cent, closing at 2
per cent. asked. Prime mercantile paper,
405. Sterling exchange is fairly active and
unchanged. Government bonds were quiet,
with the As Il higher. State bonds were dull
but firm. Railroad bonds were generally
higher. Sales, 81, 1880 The Denver & Rio
Grande Western bonds were active and con-
spicuously strong, the assented bonds being
up to ~ at o0A. Denver & Rio Grande con-
| sol trust receipts, III at 111I, and Toledo,
Peoria & West firsts at 1U0, Central Pacific
| lists ga at 1875, and Richmond s. Allegheny
| trust receipts at rs. Reports of rate cutting
affected the coal stock unfavorably to-day,
enabling the room traders to break Lacka-
wanna and Jersey Central, but the market is
| ut best Scalper's market for the present.
and fluctuations have been significant. At
| the opening, prices were generally higher,
| advanced, ranging from "A to q per cent.
The latter in New York Central. Omaha was
down q, Jersey Central and Northern Pacific
preferred Il each, and Union Pacific and
| Delaware & Hudson % each. There were
| some further slight advances in the early
| dealings, but Lackawanna was pressed for
| sale, Jersey Central following. and within the
| first half hour the former was down IA and
! the latter 81 per cent. The decline was then
| checked, but the life was taken out of the
market. which continued dull and featureless
| throughout the remainder of the day, being
alternately firm and heavy, and finally closed
steady, near the opening figures. The final
prices generally show an advance over those
| of yesterday of small fractions in the active
| list. The total sales of stocks to-day were
| 153, 1873 shares. including
Erie. 1s,515IN ]. Central. 4,43O
Kan. s. Texas. 3,600IN. Y. Central. 1856
| Lake Shore. 49,. Is, $50 Pacific MALL. $50
Del. Lack. s. w. 2S,O4oISt. Paul. ...... $4,000
Northwestern. s,100IWestern Union. 1900
ST. PAUL TRUST COMPANY,