St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-04-26
New York.

Special to the Globe.
NEW YORK, April 24.-The settlement of
the Lake Shore strike and tho advance in
transconinental rates was not followed, as
many had anticipated, by a boom. On the
contrary the market was again very dull, and
well informed traders were Of the opinion
that as soon as the general situation improved
the cliqucs which have been supporting prices
would let go. and a decline instead of an ad-
vance would follow. About all the interest
centered in Union Pacific, which was manip-
ulated up Il points by the Standard Oil people.
The short interest was said TO be very large
. in St. Paul, New York Central aud Union Pa
cihc. S. V, White and the Vanderbilts were
CREDITED with being on the bull side OF the
market. The best opinion On the market was
expressed by trader who said: Il am a
bear on the situation but a bull on manipula-
ton"
The talk was that the Granger roads were
considering the matter OF forming a pool
covering all business in the Northwest. The
serious outbreak OF labor troubles, however
was still an effectual bear argument. Read
ing was conspicuous for its weakness. The
report was that some OF the insiders had
become dissatisfied with the Drexel-Mor-
gan scheme Of reorganization, and
were unloading. The announcement
that on Monday the Union Pacific would adj
vance its frei9hts TO the Pacific coast to so
per cent. of the old tariff in effect before the
rate par, was followed by "A break of point
and half. In fact the entire market was
sold OFF sharply, closing prices being about /
per cent. under opening.
WALL STREET GOSSIP.
st Paul earnings for the third week in
April decreased S1s,546
A. DeCordova-Don't feel like buying any
thing just yet. Think Western Union is the
safest stock TO be short OF.
Van Emberg-We think there is very little
in it either way at present, but in the absence
of bad news expect higher prices on the dull
ness and short market. Would sell on such
an advance. A few outside stocks NAV be
put up when things look better or there is
more activity, like Kansas & Texas, Union
Pacific, New England, Texas g. ST. Louis
There are points TO that effect.
Cloves said that be had been preaching for
weeks that the market was on a good basis,
and was a purchaser on weak spots.
NEW YORK, April 24.-Money on call was
easy at 118G2% per cent. Prime mercantile
paper 405. Sterling exchange steady at
S4.S654 for sixty days and $4.Se% for de-
mand. Government bonds were dull and
steady to-day. State bonds were almost ne
elected, but firm. Railroad bonds were gen.
orally steady and quiet; sales 8, OOO, 600. No
table advances include: st. Paul, $40 of
2 at 127; Chicago, St. Louis g. PittsDurg con-
soldated % at 10; Denver s. Rio Grand LIST
consOls, ut %; Kansas Pacific 0s of '95, 2 at
lis, and Virginia Midland Incomes, 9 at 81.
Jersey Central lists declined AZ, TO lI0I< and
Denver, South Park & Pacific lists, to so
The sales of the week 1--WE days)
amounted to so,417oOo, against SiO,-
100000 last week. Stocks were very dull.
Union Pacific contributed 10000 shares of
the total, and st. Paul, Lackawanna and Lake
Shore Jointly contributed Sc, ZOO shares
Union Pacific opened s. up, ut 50s<, and
developed decided strength during the fore
noon, selling as high as 81. The strength
during the day was attributed to the covering
of shorts by prominent operator who has
been bear for long time past. The whole
list from the opening was from x to 81 higher
than it closed Thursday, with Lake Shore q
higher, on the announcement that peace had
beer established between the officials and
switchmen OF the road, but il at no time sold
at more than Is above its opening, and closed
4 lower, at SIS, an advance of
y. All the coal stocks are weak
for no special reason apparent.
Lackawanna and Delaware & Hudson each
lost =, and New Jersey Central q. Chicago.
Cleveland, Columbus h Indianapolis sold up
to IS. net advance OF lc after the opening
at 51s<. There were no ether important
changes. The total sales for the week were
only 90, $40 shares, but the business con-
sisted of only five days, against L, 73S 600
shares last week.
The total SAFES OF stocks to-day were IL, 243
shares, including
Del, Lack&Wes. l., 800 st. Paul. $3.50
Erie ...-....... 5,lOO Union Pacific. 40, $50
Lake Shore.--.. lo,2lO Western Union. $500
Northwestern :. 6,250Oregon Trans CLIO
Reading. ....... $500