St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-04-25
FINANCIAL.
New York.

Special to the Globe.
NEW YORK, April 24.-The settlement of
the Lake Shore strike and the advance in
transcontinental rates was not followed, ms
many had anticipated, by a boom. On the
contrary the market was again very dull, and
well informed traders were of the opinion
that as soon as the general situation improved
the cliques which have been supporting prices
would let go, and decline instead of an adj
vance would follow. About all the interest
centered in Union Pacific, which was manip-
ulated up = points by the Standard Oil people.
The short interest was said TO be very large
in st. Paul, New York Central and Union Pa
ciflc. 5. V. White and the Vanderbilts were
credited with being on the bull side of the
market. The best opinion on the market was
expressed by trader who said: Il am a
bear on the situation but a bull on manipula-
ton
The talk was that the Granger roads were
considering the matter of forming a pool
covering all business in the Northwest the
serious outbreak of labor troubles, however.
was still an efectual bear argument Read
ing was conspicuous for its weakness The
report was that some OF the insiders had
become dissatisfied with the Drexel-Mor-
gan scheme of reorganization, and
were unloading. The announcement
that on Monday the Union Pacific would add
vance its freights to the Pacific coast to 80
per cent. of the old tariff in effect before the
rate par, was followed by break of a point
and Il half. In fact the entire market was
sold of sharply, closing prices being about 1
per cent under opening.
WALL STREET GOSSIP.
ST Paul earnings for the third week in
April decreased Sl9, $40.
A. DeCordova-Don't feel like buyinp any,
thing just yet. Think Western Union is the
safest stock TO be short of.
Van Emberg-We think there is very little
in il either way at present, but in the absence
of bad news expect higher prices on the dull-
ness and short market. Would sell ON sucb
an advance. A few outside stocks NAV he
put up when things look better or there is
more activity, like Kansas & Texas, Union
Pacific, New England, Texas & St Louis.
There are points to that effect.
Cloves said that be had been preaching for
weeks that the market was on a good basis
and was purchaser on weak spots.
-
NEW YORK, April 24.-Money on call was
easy at l1a0219 per cent. Prime mercantile
paper 4G5. Sterling exchange steady Mt
S4.s6H for sixty days and 81 Ss% for de-
mRnd. Government bonds were dull and
steady to-day. State bonds were almost no
elected, but firm. Railroad bonds were gen
orally steady and quiet; sales 81, 100000. No.
table advances include: st. Paul, $40 of
. at l27; Chicago, st. Louis & PittsDurg con-
solidated 5s at 10; Denver & Rio Grand LIST
consols, at rs; Kansas Pacific 6s of '95, . at
lis, and Virginia Midland Incomes, at 81
Jersey Central lists declined ~. TO llOI<. and
Denver, South Park & Pacific lists. TO so
The sales of the week five davs)
amounted to S6,4l7.000, against $40
100000 last week. Stocks were very dull,
Union Pacific contributed 10000 shares of
the total. and st. Paul, Lackawanna and lake
Shore jointly contributed $1,000 shares.
Union Pacific opened "a up, at 5Os<. and
developed decided strength during the fore
noon, selling as high as SO. The strength
during the day was attributed to the covering
of shorts by prominent operator who has
been bear for long time past. The whole
list from the opening was from x to 81 higher
than it closed Thursday, with Lake Shore ;.
higher, on the announcement thar peace had
beer established between the officials and
switchmen of the road, but il at no time sold
at more than Is above its opening, and closed
q lower, at Slx, an advance OF
y. All the coal stocks are weak
for no special reason apparent
Lackawanna and Delaware a. Hudson each
lost q, and New Jersey Central "a. Chicago
Cleveland, Columbus g. indianapolis sold ur
to SO, a net advance of Ic after the opening
at BIZ. There were no ether important
changes. The total sales for the week were
only 922,s 45 shares, but the business con
sisted of only five days, against l,73s, OOC
shares last week.
The total safes OF stocks to-day were III "a;
shares including
Del, Lack&wes. 17,5oolst. Paul. ...... e.6sC
Erie. 800 Union Pacific. 4O.q2l
Lake Shore. 49,. 1920 Western Union. GEO,
Northwestern :. 6,250Oregon Trans. Gill
Residing. ......- s,oUOl