St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-06-24
FINAN CIAL.
New 1Ork.
iNC W \
Special to the Globe.

Special to the Globe.
NEW YORK, June 23.-The stock market
was active and strong at the opening to-day.
1t was reported early that the troubles with
the Lake Shore switchmen had been amicably
settled and that there was no further danger
from that direction. The report that a meet
ing of the managers Of the Granger roads had
been called for the purpose Of settling the
passenger and freight rate wars, gave
strength to the Changers and incidentally to
the Whole list. Everything was again BOOM
ing, but about noon the report was received
that more trouble was expected with the Lake
Shore switchmen. That road it was said was
refusing to receive live stock for shipment
East and the belief was that the men would
all go out i'll day or two In less than ten
minutes the stock dropped from sc to s4.1,
and the whole list, eased of materially
Western Union led the list however. both IN
point OF activity and strength. 1t was said
that the shorts forced the price upon them
selves on tho report that Gould and Garrett
had formed some sort of combination which
would result in q general advance in rates.
Lackawanna, and, in fact, all the coal stocks
were strong aud the talk was that the pool in
Lackawanna would soon give that stock lift.
The continued reports, alleging trouble on
the Lake shore road on account Of its switch
men, weakened that stock in particular and
prevented good many traders from buying.
st. Paul developed good deal of strength
just before the close, advancing to 81. Louis
vile Nashville advanced about Ia per cent,
and the report was that Amsterdam holders
Of the stocA were trying to bull it, bIilwau-
kee, Lake Shore & Western earnings for the
third week in June increased $4,000. There
were no new developments in the rate war
among the Western roads, and this factor
seemed to have for the moment dropped out
Of sight. The market was closed With a
whoop, Western Union touching 81 and scor-
iror o6y IF Tho ~
the list closed strong, but q fraction under
the best prices Of the day.
NEW YORK, June 23.-Money on call easy
at 11a@312 per cent. Prime mercantile pa
per 4@5; sterling exchange dull and I'M
changed. Government bonds quiet and quo
tations all higher, dull, but firm. Railroad
bonds active; sales So, 085.3000. Final prices
show irregular changes, but in favor Of
higher prices. Lake Shore first coupons
were up "a at 124H. There was no special
news to affect stocks during the morning be-
yond that which alleged that the Lake Shore
strike was declared Off. There was a better
feeling all around, and under the leadership
of Western Union, tho market made
material advances, Again rumored ne
gotiation in progress between Western
Union and Baltimore & Ohio, and there
was considerable covering of shorts. 1t was
also rumOred that Chicago traders were cover
ing shorts in Lake Shore as well as Western
Union, and information disseminated that
the earnings of Western roads still continue
to show increases. In the latter part of the
day there were further rumorS Of trouble on
Lake Shore, and the market again became
restricted and quotations fell off, although
the market closed steady at about the best
prices Of the day. Louisville s. NASHVILLE went
up % and Missouri, Kansas s. Texas and
Omaha each "a per cent. There was moder-
business only, but extraordinary strength was
developed in Western Union and prices con-
tinued to advance until noon, after which
time the bears make drive at Lake Shore
which broke off Is per cent, and the general
market sympathized to q limited extent.
AT last, however, Western Union again ad-
vanced sharply, and the general market re-
covered its steady tone and so closed. The
feature of the day was Western Union. and
it led the market in point of activity.
Everything is higher tonight. Western Union
gained 2 per cent, and the rest of the active
list fractional amounts only, but among the
specialties National Chattanooga is up 21S
and Louisville & Nashville 2 per cent. The
total sales Of stocks to-day were 267, 13s
shares including:
Del l.. & w.. 26,010lReading. ....... II, 500
Erie. $3.50 st. Paul. ....... 1876
Kansas & Tex. 1896 St. Paul & o.. 5000
Lake Shore. 1874 Union Pacific. 13, 7O5