St. Paul daily globe., 1886-04-12
FINANCIAL.


Special to the Globe.
NEW YORK, April 10.-In spite of the un-
favorable news, which in ordinary times
would have caused a break in stocks, the
market again held very strong. In fact, the
market was so strong that people who have
been bears for long time were disposed to
think that when the market again
became active it would favor holders. The
sensational development at East st. Louis
had no effect in breaking prices, and, on the
contrary, most securities sold higher during
the day than they opened. The rate war
among the granger roads continued, and the
street was in receipt Of no favorable news of
any kind. Even St. Paul earnings disap-
pointed traders, showing decrease OF S., 900
for the first week of April. The market
was almost entirely confined TO room traders;
prices were firm, and conservative operators
were quoted as saying that as bad news failed
to break the market, an advance would be
likely TO follow the announcement of good
news, which must come sooner or latter
During tho latter part of the session the
market was the dullest witnessed
this year. At one time nearly half
an hour elapsed between sales. The bears
had put out their lines and were afraid TO sell
more. On the other hand the bulls were
waiting for favorable news on which to base
an advance. The advices from East st. Louis
were most pacific, and just before the close
there was Il fractional rally. Closing prices.
however, did not vary materially from the
opening.
NEW YORK, April 1O.-Money on account
easy at 12(G2 per cent. Prime mercantile
paper, 4@5. Sterling exchange dull, but
steady at "a S614 for sixty days and Sass for
demand. Government bonds were dull and
steady. State bonds were steady and strong
Railway bonds were i'm moderate demand
Sales. $l.57l,000. The changes are generally
unimportant. The total sales for the week
amounted to So. $50 600 against 81 777 OO0 last
week. Stocks were duller than for several
months past. Sales, 165,547 shares. The early
news indicating the possibility of further
trouble at East ST. Louis led to a rather weak
opening. The market was dull, but firm, until
towards midday, when there was
small decline, followed by renewed
strength, that continued to the
close. The extreme fluctuations were gen.
orally under i per cent, in some of the
active stocks not over p. Final figures were
generally at or near the best of the day. The
changes this evening as compared with those
of yesterday are generally in favor of higher
prices by fractions of from a to = per cent,
but some of the unusually inactive stocks
show greater changes, including st. Paul a.
Duluth, which is 80 higher, and Milwaukee,
Lake Shore Western preferred /. On the
other hand, Jersey Central lost q, Erie pre-
ferred q, and Texas Pacific e. st. Paul,
Notwithstanding the statement for the first
week of April, shows a loss compared
with the same week last year of
S62,12! and closed unchanged. The
result of the weeks operations is
a small advance for the general list, the
gains being in nearly every instance less than
per cent, but Pacific Mail and New York
New England are up 214, and Central of
New Jersey and st. Paul Duluth H. The
total sales fer the week were /, ,49O, 100 shares
The total sales OF stocks to-day were I65.-
547 shares including:
nj