St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-05-15
FINANCIAL.
New York.
Special to the Globe.

NEW YORK, May 16-The stock market
was dull and weak. The poor showing of
earnings by most lines, and fears that unless
many of them improve in that direction they
will lodge in receivers hands before the
end of the year, increases the bear feeling
The situation this morning was also aggra-
waited by the decline of silver in London,
which induced timid holders to unload. For
Gig IL holders were also selling out, and there
was scarcely any demand except to cover
shorts. Even S. V. White, who was a ram
pant supporter Of Lackawanna yesterday,
was reported as doing little, apd the other
bulls were merely looking oRIItheir chief
hope for rally being that-the bears
will oversell themselves, and put up prices,
when they are compelled to buy back and
cover. Lake Shore receded 5s, Northwestern
3s4, st. Paul q, Union Pacific q, Pacific Mail
155, Delaware Hudson Is, Lackawanna %,
Jersey Central !, Western Union 81. st. Paul
& Duluth was erratlc, opening at $685., sold at
66A, and broke "a points in the last hour.
The action of this stock is puzzle to most
operators, and only those who are working it
seem to know the causes that influence it.
The Burlington officials here say they see no
reason why the company should fail to con-
tinue to pay per cent dividend, as the line
is earning it. The general market closed
active and at the lowest point of the day.
WALL STREET GOSSIP.
Among the other romances abroad is one
that Vice President L. j. Potter of the Chi
cago, Burlington & Quincy had been offered
S25, 900 per year by the Vanderbilts to accept
the presidency of the Cleveland, Columbus,
Cincinnati 81 indianapolis combination.
Henry Clews-The weakness in Rock Island
is caused by the selling OF the stock held by
III. L. Powers estate.
Kidder, Peabody s. Co.-The Chicago, Bur-
lington Il Quincy is aggressive, and is about
to build largely, but its surplus is so large
that it will not be. Unnecessary for it to reduce
its dividends.
Green 81 Bateman-Pacif1c Mail declined
IL on Washington advices that the house
committee, by large majority, had thrown
out the subsidy bill
Calm and J. S. Beach were both predicting
lower prices on Lake Shore, which, they saw
is only held by the shorts who are covering
Londoners. who were free buyers of ST.
Paul yesterday, were heavy sellers to-day.
They also unloaded good lines of other stock
NEW YORK, May 14.-Money on call easy at
l1s@2 per cent. Prime mercantile paper
4t95. Sterling exchange dull; actual rates
S4S6i4 for 90 days and S4S6% for demand
Government bonds weak and steady State
bonds were neglected. Railroad bonds were
quiet; sales, 1904 ,000, of which Erie I'd consols
contributed STA, 900. Prices were steady and
important and changes are few. St. Louis s.
San Francisco class ''B'' rose from to H.
There was decline in Houston g. Texas Ids
of to rs, Texas & Pacific general SIS 2% to
34%, Great Western Eds "a to SO. The uncer-
tainty in regard to the forthcoming statement
of the New York Central. The troubles of
Lake Shore and Nickel Plate and the unfay-
orable statement of earnings on the St. Paul.
published lately, made these stocks conspic-
uously weak at the opening to-day The re-
mainder of the active list were all within Il
per cent. of last nights closing figures. but
the market was weak from the opening to
the close, with hardly rally. The Kansas &
Texas, Missouri Pacific aud Western Union
were very dull The market in general is ev-
identity nothing but a traders market. Lack
awanna shrunk to second place in the deal
ings, st. Paul eventually, on free sell ing, be-
lieved to be for German account, assumed
first place. New Jersey Central and Della
ware g. Hudson were conspicuously weak
especially in the early part of
he day. The Vanderbilts yielded very slowly
and show very slight declines from last night
Pacific Mail was also conspicuously weak, and
is 17s per cent. lower. Other prominent de-
clines are IA in Milwaukee, Lake Shore &
Western common, and / a in the preferred,
Louisville & Nashville and Chicago, Burling-
ton s. Quincy each 1H per cent st. Paul &
Duluth common continued the advance of
yesterday and gained 25s per cent in the
morning, but on the publication of the direct
ers meeting the early advance was lost The
total sales OF stocks to-day were 49, $50 shares,
including:
Del, Lack&Wes. "a, 0lPacifc Mail -. 1860
Del. Hudson. 81, 150 Reading. ....... $3.50
Erie. .......... 1850 Union Pacific. $3.50
Lake Shore. 20, 5S5 Western Union. S,125
Northwestern :. e,S00IOregon Trans. 4,760
N. j. Central. 9,420