St. Paul daily globe., 1886-05-20
THIRD NATIONAL BANt
FINANCIAL.
New York.

Special to the Globe.
NEW YORK, May 19.-There was no special
feature to the dealings on the stock exchange
to-day. The market us has been the case for
several days was dull the bulk of the trading
being done by the room traders. This class
of operators were in most cases bearish and
waiting for any signs of weakness in order to
jump in and isell. Early in the
day 1t was announced that Rock Island WAS
refusing to report its business to the commits
sioner of the Council Bluffs and Omaha pool.
In addition it was learned that the St. Paul
had cut flour rates from Minneapolis and all
interior points in Minnesota and Dakota to
Chicago and Mil lwaukee 21lc. Later in the day
all the Granger roads met the cut, and it was
asserted that general collapse of rates west
of Chicago might occur at any time. Western
Union was very weak on heavy unloading of
long stocks by insiders. Northwestern earn
ings for the second week of May decreased
S13, 900. The coal stocks were all weak, and
the general market
LOOKED RATHER RAGGED,
with business at u minimum. The talk was
that the pool in Kansas & Texas were quietly
absorbing stock under 25. 1t was stated that
the basis of the bull movement projected in
it was the expected opening of the Indian
Territory. congressman were reported to
generally favor it, and the fact that the bill
had been reported favorably in the commit
tee was considered as indicating strong prob
ability of its passage in the house. Louisville
& Nashville earnings for the second week of
May increased S2,956, the first increase for
months. The Changers were practically in
active, but towards the close weakened
shade. The general market closed rather
easy, shade under opening figures.
NEW YORK. May 19.-Money on call easy at
11a@2 per cent. Prime mercantile paper 4@5
Sterling exchange steady; actual rates $4.S6A
for sixty days and S4.S81I for demand. Gov
wal Stofa
bonds were neglected. Railroad bonds were
strong, closing generally at an advance.
There was a slightincrease in business, which
is much more than made up by the increase
in and trading in Northern Pacific seconds
and the East TenneSse issues. The latter were
also conspcuously strong, consolidated trust
receipts advancing "a, to $40; the consols
21l, to S212, and the income trust receipts IL,
to 20L.. st. Louis, Kansas City s. Northern
Omaha division rs, advanced 3, to 81. Chicago
s. Milwaukee lists declined 6, to S127, and In
dianapolis, Decatur & Springfield income
trust receipts So to 30. The features in
stocks to-day were: Consolidated Gas, West
ern Union and Louisville & Nashville When
the first named stock touched 76% a strong
buying movement set in which carried it to
49, This was understood to be for a syndicate
which proposes to test the law recently passed
fixing the price of gas ut S1.25. Western
Union was heavy throughout the morning, the
cause of which was rumored to be the decis-
ion in the GoOdSell suit. There was consider
able talk afloat in regard to the Louisville g.
Nashville, but it was remarkably steady ali
day and closed with small advance. There
were no new Developments in regard to Ore
gon Transcontinental, yet the stock declined
per cent. and closed near the lowest of the
day. The market opened heavy, a majority of
the active list showing a decline of 1s6l% per
cent. The latter in Jersey Central Omaha
and Northwestern. There was some heavi-
ness apparent in the early trading and de-
clines of small fractions were made before
IL a. M, the lowest prices of the day being
made generally in the first hour. The market
then continued dull and featureless, although
a firm tone prevailed until near the close.
Prices shaded OFT a fraction in the last hour
and the most Composed rather heavy and
closed to last nights final price. The net re-
suit of the day s operations in an equal divis-
ion between small gains and equally small
losses. The difference in the increase is not
more than u per cent. either way.