St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-04-29
FINANCIAL.
New York.

Special to the Globe.
New YORK, April 2s.-The stock market
exhibited more activity to-day than for a
long time, influenced by numerous rumors of
a bearish character. 1t was reported that
the Burlington company was about to issue
SIC, 0000 900 in bonds on projected extensions
of its lines. The talk in regard to the North
western was bearish, and il was rumored that
all negotiations Of the Drexel-Morgan syndi-
cate. looking TO the reorganization of Read
ing had fallen through, and that Mr.. Morgan
would return from Europe without having
attained the object of his visit The new
plan for the reorganization of the Texas Pa
cihc was received with decided disfavor, the
stock selling off two points on its promulga-
ton. President Adams, of the Union Pacific,
returned to-day from the west, and reported
Union Pacific affairs in good shape. The
entire market early in the day yielded 10 q
a pressure of long stock, declining about q
point all around. Later, however, there was
fractional rally, and good buying of Union
Pacific was reported around 80. The pool in
Richmond Danville apparently were drop
ping some of their holdings, as there was a
decline OF two points in the stock. Louis
vile Nashville was raided by Jones and
Durand, who got early information that the
clique which had been supporting the stock
had sold out. Richmond & West Point ter
minal dropped two points, and the talk was
that the bull pool in il had liquidated Reading
sold Off late in the day on the unsatisfactory
returns from the sale of its securities, only
about $4,000 being realized therefrom. The
general market was fairly active in the down.
ward direction, and closing prices were from
"a to points lower than the opening.
WALL STREET GOSSIP.
L. V. White-Everybody is getting ready
here for Gabriel to blow his trumpet" on
May 1. If he don't blow, and do not hear
anything like a second trombone being put in
order, the street will take back their stocks
at higher prices. Seriously it is in the air
that on May 1 all labor everywhere is to
make demand, and that this country is to
be one gigantic strike. / can't tell how many
big fools there may be in the world. They
noed to say that even a band of Blackeet In
dams going on drunk would provide for q
few sober Injuns. If all labor bodies strike
at once, do not know who will furnish the
money to keep them up. / do not anticipate
such an outcome, and once we are past the
date fixed for general ruin, we will breathe
more free. have great faith that Union
Pacific will respond to the kind treatment
which I expect it to receive in congress.
Lawson-Our information leads us to think
unfavorable news will be received on New
York. Lake Erie Western. We think sales
will show profit. Advise selling Lake Shore
and Northwestern preferred.
1t is said that the Chicago, Burlington g.
Quincy will soon issue Sl0,000,000 new bonds
for new mileage.
The Gould stocks are weak, and Western
Union is being sold by the Corners party.
NEW YORK, April 2s.-Money on call easy
at per cent. Prime mercantile paper 4G5
Sterling exchange unchanged at S4.S6sz for
sixty days and SISSY for demand. Govern
ment bonds continue dull and steady. State
bonds very dull and steady. Railroad bonds
were quiet, sales 81, 433, 900, of which Erie
I'd consols contributed 1881, 900. Changes
are generally unimportant Stocks were
somewhat active as whole and prices were
weak, but the movement was more irregular
than for some time past in certain stocks.
Lackawanna, Lake Shore, Luisville g. Nash
vile, Reading and Union Pa
cifc Jointly contributed nearly so
per cent Of the days business.
The market was active during the first hour,
and became more quiet and finally dull late
in the day. The special feature of the morn
ing was the weakness of the Union
Pacific and Texas Pacific the former
sold at sos and back to 1917 before midday,
closing at the latter quotation at a net loss of
IL. Louisville and Nashville declined from
1919 to 3Ts4, late in the afternoon, and drop
ped down to and closing at 361s. Reading
lost "a and Illinois Central l.
Milwaukee Lake Shore and West
ern preferred shows a net loss of /,
Lake Shore lost 1, and closed at the lowest
price OF the day, and New York Central is "a
lower at 1915. The Changers show q loss of
less than / per cent, but closed near tho
lowest agures reached. The remainder of
the active list show declines OF various frac-
tional amounts. The market closed about
steady, but very near the lowest figures of
the day. The total sales OF stocks to-day were
237, l26 shares, including
al oh Tne . ia