St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-11
New York.


Special to the Globe.
NEW YORK, March 10.-Inhuenced by the
serious phase assumed by the strike on the
Gould roads and reports that il would eN-
tend and involve the roads out Of Chicago
the sentiment on the stock exchange was
bearish. There were no new developments
in the Reading negotiations. Woershotfer
and many of the local traders took advantage
of the disturbed condition of labor affairs to
attempt u rate on prices and general decline
of about point was secured, though 1t was
claimed but little long stock came out.
Union Pacific was one of the weakest stocks
on the list. Its January statement, published
to-day, showing decrease OF S329,OO0 in net
earnings, or a loss of 20 per cent. compared
with the same month last year. Western
Union was hammered on all sorts OF rumors
regarding the dividend. which, twas claimed,
would be ~ per cent IN scrip. 1t was also
stated that one two millions in debenture
bonds would be issued.
THE CHANGERS WEAKENED
on reports that the employees were about TO
strike. This was officially denied later. Rail-
way earnings reported to-day were generally
favorable. For the first week Of March, St.
Paul increased $4,000; Milwaukee, Lake
Shore & Western increased 5000; and for the
month Of February, Louisville, New Albany
g. Chicago increased $50, 600. Various rumors
calculated to help the bulls were in circula-
ton during the latter part Of the day.
1t was alleged that negotiations, look
ing to a settlement of the strike
ON the Gould roads was in progress,
and it was further claimed that the transcon-
tinental war had been settled. The market,
however, was improved, and the timid shorts
were forced TO cover. 1t was announced late
in the day that the western Union dividend
would be IA per cent, payable in scrip. The
statement for the quarter ending March 81,
showed a decrease in the balance of $500, 900.
The close of the market was strong at about
opening prices.
NEW YORK, March lO.-Money on call is
easy at l55G2 per cent. Prime mercantile
paper 4@5. Sterling exchange unchanged.
Government bonds were dull and firm. State
bonds were dull and heavy. For the first
time in a long while the railway bond market
shows decline. Sales were 81, 81, 900. The
largest trading was in Erie I'd consols. eX-
June coupon, Northern Pacific 2ds and Ore
gon Transcontinental lists. The declines
were not large. What with the strike on the
Southwestern system of roads and rumors of
similar strikes elsewhere the continual, on of
the fight among the transcontinental lines,
With lower rates reported and rumors about
the Western Union dividend being passed.
Wall street did not take very roseate view
of the general situation. First prices were
generally "a to ss lower. and there was
dropping tendency until i O'Clock. with only
ally made at about o'clock, and with vague
and somewhat better reports regarding the
general situation the market became firm and
slowly recovered the earlier losses. In the
last hour in many cases the highest prices of
the day were reached. but the range of fiuc-
tuations was limited to a little over per cent,
for most of the active stocks, and the changes
this evening, as compared with yesterday,
are about equally divided between
small gains and losses. A notable
exception is Canadian Pacific. which lost 15z.
The market closed about steady. The report
of st. Paul earnings for the first week of
March shows and increase over the same
week last year of Sl4,093. and the stock to-
night is unchanged, while Northwestern is
down %. After opening at 69% and selling
as low as 66A, Western Union closed at 69H.
net advance of "a. The total sales of
stocks to-day were 1884 shares, including:
Del. Lack &Wes. 55 950I Pacific Mail. L., $50
Del. j. Hudson. 5, 1876 Reading. ....... 63,575
Erie. 27,2l2lSt. Paul. ....... 1850
Kansas & Texas. 8, lao Union Pacific. IL, 600
Lake Shore. 10, 200 Western Union. %, $50
Northwestern =. 15,600IN. p. preferred $500
N. J. Central. 7,900IOregon Trans. 4,552
N Y. Central 2lqSl