St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-07-09
FINANCIAL.
New York

special TO the GLOBE.
New York, July s.-The course of the
market to-day hinged principally on crop adj
vices from tho Northwest. 1t was on all
sides admitted that the crop of spring wheat
had been injured and the only question was
in regard to the extent of the damage. Esti-
mates placed the injury all the way from Is
to 80 per cent. The Changers were sold on
reports OF this character on the theory that
with short crops in the Northwest the aggre-
gate business of the railroads in that section
would he greatly curtaiied. Northwestern
was particularly weak, declining IL per
cent. under heavy selling by Jones and
Mccormick. Ii was reported that some ac-
ton looking to q settlement OF the Western
rate wars might be taken at the meeting Of
Western railway managers to-day, but the alb
Sence Of the Burlington prevented this and
aided in weakening the Grangers. Western
Union attracted a good deal of attention, and,
under free realizing, declined l per cent.
Kansas e. Texas acted in way that was
thoroughly disappointing to the bulls in that
property. George Gould, it was stated, had
gone to London for the purpose of having
Kansas II Texas bonds listed on the London
exchange, and the plan of the mGnipulations
of the stock was said to be TO keep Kansas d
Texas securities active, in order
no INDUCE ENGLISH BUYING.
Chicago operators were reported to be large
sellers of Omaha and St. Paul, but the
strength of the latter stock was one of the
noticeable features of the day. The an
nouncement that nothing had been accom-
plished at the meeting of the tripartite roads
at Chicago temporarily depressed the Gran
gers. 1t was reported that measures were
being taken to perfect the Tripartite
association, and that the old is
sues, which caused the formation of
that combination, had again become
active. Pacific Mail was one OF the most ac-
tive stocks on the list, and the advance of
IL per cent. was occasioued by heavy cover
ing by shorts. The continued decline in the
price of wheat at Chicago was construed by
the bulls as favorable to stocks, as it indi-
Gated to their minds that the recent crop
damage reports had been greatly exaggerated.
At the close the grangers showed the greatest
decline for the day, while the general list
closed at concession from opening prices.
The net earnings of the Unlon Pacific for the
month of May showed an increase OF $751;
GERMANIA BANK,
Corner Fifth and Wabasha streets, opposite Post.
Office.
CAPITAL 100000.
E. ALBRIGHT, Prest ALEX. RAMSEY Vice Pr.
WIN. BIckE L Cashier. p 81 KERsr. Asst. Cash.
NEW YORK. June S.-Money on call easy at
1908 per cent. Prime mercantile paper
4@5. Sterling exchange unchanged. Gov
ernmeut bonds were dull and unchanged.
bonds were quiet; sales 81 30., 600. Prices ruled
generally heavy in the early hours, but a
firmer tone prevailed in the latter part of the
day, and closing prices show irregular
changes about equally divided between gains
and losses. Jersey Central debentures are up
81 at 80, Wabash, st. Louis division rs 21s at
1865. Stocks opened weak. The influences
on the market in the forenoon were stories
that Chicago was selling the Changers. The
selling of the stock by the brokers who have
been leaders in the upward movement lately
gave strength to the stories, and st. Paul lost
Il per cent. from last nights closing,
Northwestern lost ~, Lake Shore lost
p per cent, Western Union lost 3a.
The closing market showed declines in nearly
all the active list of from a to 13s per cent.
Cleveland, Columbus, Cincinnati & Indianap-
oils gained u; Peoria, Decatur Evansville
q and Pacific Mail n per cent. Concerning
the latter stock there is new talk about the
possibility of settlement of the Transcontl-
mental rate war. G. P. Huntington has re-
newed his proposition to the company to the
effect that the company receive a subsidy OF
$50 600 per month after the first three months,
! and a lower rate during that period. Mr..
Huntington said that he did not
know whether the Pacific Mail company
would accept his proposition or not.
President Houston of the Pacific Mail
said that the situation WAS unchanged
The news from the Northwestern wheat fields
was OF more favorable character but the
| market was wholly Influenced by the manip-
ulators. The total sales of stocks hto-day
were 242,346 shares, including:
Del. Lack. g. w. 9,4T5 Pacific Maii.... 1e,3 25
Erie. ......... 10,250 st. Paul. ..... SIS, 1SC
Kan. s. Tex. $3.50 st. P. s. Omaha. $500
Lake Shore..... 5115 Union Pacific. $40
Northwestern. Is, 100 Western Union. %, $50
N. ]. Central. 10,760I North. Pac. pfd 6,S09
| THIRD NATIONAL BANK,
Corner Third ana Robert streets.
CAPITAL s5ooooa
WALTER MANN. RICHARD e. SLOWER,
President. Cash Ter