St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-06-16
New York.
SDecia1 Tn the Globe

Special to the GLOBE.
NEW YORK, June 15.-The stock market
was narrow to-day, but prices were rather
firm. The passenger rate war in the North
west and the talk of q freight rate war west
of Chicago apparently had no influence to
depreSS prices, and on any reaction some one
was ready to take all offerings, preventing
any serious set back in the market. Armour
and Ream were distributing bull pointers in
Chicago. They claimed that an immense
crop was now assured. and that earnings
would justify an advance in prices all
around. 1t was even limited that
before the year closed St. Paul
would likely pay per cent on the common
stock. Kansas and Texas was strong, on buy
ing which it was claimed came from Worm
ser's office. 1t was said the stock was good
for so. Consolidated gas was freely sold by
the heavy people, who q few days ago started
in to bull it. The general list, while excep-
tionally inactive, showed no disposition to
sell off, and opening prices were well sus-
tanned. The latter part of the day was char
acterized by heavier trading and a sharp
bulge in prices, the grangers, as usual,
leading the advance. Mr.. Ream was quoted
as saying that the disposition of Chicago
operators was to get out of wheat and to take
the long side of stocks. He predicted big
advance in all classes of securities within the
next six months. 1t was reported that North
west earnings for the first half of the second
week of June increased S27,0 st. Paul,
Omaha and Northwest each advanced about
per cent. The coalers were less active, but
were held firm by the strength of the rest of
the market. Closing prices were firm at
about the highest point reached during the
Gay.
NEW YORK, June l5.-Money on call easy
at 1a@3 per cent. Prime mercantile paper
4d5. Sterling exchange quiet and unchanged.
Government bonds dull but strong and "a
higher for the As, and &c higher for the 3S
State bonds dull and steady. Railroad bonds
were exceptionally active and strong on an
investment demand. Sales So, 10000, of
which Erie seconds furnished 1851, 600 and the
East Tennessee receipts S61S, 600. Prominent
advances include Cecelian branch, So, 113;
Morgan Louisiana & Texas IS. 81, at III,
and Oregon Improvement IS, 21l at 91I. In
| stocks favorable reports were received from
all over the country except as to rate cutting
in the West, although there was nothing new
IN that direction to-day. Room traders
attacked the list in early morning, but
buying for large operators soon turned
tide their way. The feature of tue dag was
the rapid advance OF a few of the special
lines, prominent among which was Cincinnati,
Indianapolis St. Louis & Chicago, the story
being that new loan Of S10.000,000 had been
negotiated to retire the present indebtness.
ST. Louis & San francisco advanced on
rumors that fixed charges of the Atlantic &
Pacific were to be brought within the earning
capacity of the road, and SO relieve the
former road of part of the burden which
it now bears. The market was strong
throughout the day, after the first half-hour.
Oregon Transcontinental continues strong,
lois thought on buying for strong accounts.
The market opened weak, declines from last
night ranging from e to u per cent. !;
of the latter, Northwestern, Louisville s.
Nashville and Northern Pacific preferred.
The market continued to decline for half an
hour, at which time the lowest prices of the
day were generally touched, but after some
hesitancy the whole list became strong and
prices continued to advance without material
reaction throughout the remainder Of the
| day, and closed strong at or near the best
figures reached. Oregon Navigation is up
1ss, Louisville, New Albany and Chicago ! 4,
San Francisco preferred rs, and Cincinnati,
Indianapolis, st. Louis and Chicago 4 per
cent. The total sales of stocks to-day were
226,3 19 shares, including:
Erie. ........... IL OBS st. Paul Co.. 500
Kansas G Tex. Il, 625I Texas Pacific. $500
Lake Shore. -. 10, OPS Union Pacific. 6345
Northwestern. 1870 Western Union. 1890
N. ]. Central. 1880 n. Pacific pfd.. $500
Pacific Mall. 4, $50 Oregon Trans. Is, 025