St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-07-29
FINANCIAL.
New York.
C4sz1 L. A. ~

Speclal 10 Lue UlOUe
NEW YORK, July 2s.-The interest in the
stock market centered to-day principally in
the Vanderbilt properties. New York Cen
trail, Lake Shore and Michigan Central each
advanced about l per cent. Most OF the
houses classed as representing Vanderbilt IN
terests were large buyers of this class of Sc
curities, principally, however, of Michigan
Central, the earnings of which, it was given
out, had increased $3.50. 600 during the month
ofJune. The point was made that the increased
earnings OF Michigan Central would put it on
dividend-paying basis again, and that div
idend Of 2 per cent. would likely be declared
in December. Foreigners were heavy buyers
of New York Central, causing an advance to
100, the highest point touched by this stock
in several years. The Changers were weak
early in the day, on adverse reports
in regard to the prospects Of the corn
crop. Later in the day there was fractional
advance, in sympathy with the better prices
scored for Vanderbilt. Lackawanna ad-
vanced l per cent. on buying by S. V. White.
In spite Of the bearish position taken by Chi
cago operators and the flood of bear news
from that point, the whole list held up and
on the whole made q good advance. The
tendency of the whole market was changed
by the bulge in the Vanderbilts and Lacka-
wanna. Even the Changers Sympathized, in
spite of bad crop news. President Keep of
the Northwestern is quoted as saying that
the injury to the spring wheat was not seri-
Gus enough to affect the earnings of that road
to any considerable extent. Norfolk q West
ern doomed per cent. Texas & Pacific adj
vanced sharply in the last half hour. Last
quotations throug hout the list were top prices
for the day.
NEW YORK, July 2S.-Money ON call is easy
at 2@213 per cent; prime mercantile paper {,
405: sterling exchange, dull at S4.S5% for 60
day bills and $4.S7 for demand. Government
bonds were dull and firm to-day. State bonds
were dull and steady. Railroad bonds were
quiet and generally firm. The Texas Pacific
issues were active and strong. The total
sales to-day foot up $3,376.500. West Shore
As were the most active, furnishing $4,000,
Texas & Pacific Rios were S379,00O. The
cross suit for foreclosure of the Indiana,
Bloomington s. Western, with the application
of the receiver for authority to surrender the
lease of the Cincinnati, Sandusky & Cleve-
land, had stimulating effess on the securities
OF the former company, aad tonight the lists
ale 2 per cent. higher at 81, the IDS l at rs
and the Eastern division IS l at 941a. Texas
Pacific land grants are up rs at 1873, the
Rios coupon off 3 at $685., and the
terminals 2% at so. Final prices in
the general list are almost invariably
higher. The trading in stock market
to-day was marked by more animation than
for several days past, and larger blocks of
stocks changed hands. The Pennsylvania
statement for June showed such an unex-
pectedly favorable state of affairs that the
street readily accepted it as an index to the
business of the other trunk lines and dis
position to buy them was manifested early in
the DAY, and those stocks soon became again
the feature of the matket The principal
buying of Lake Shore was for the short ac-
count. Michigan Central was purchased
heavily by insiders, and it is said that the
earnings for June will show an increase of
about 100000, and that the company is now
earning about per cent. per annum on the
stock. In the afternoon there was buying of
Lackawanna by insiders, which advanced the
price rapidly. AT the opening this morning
first prices showed irregular changes, but
were generally within % to a per cent. of
last evenings final figures. Missouri, Kansas
Texas and Northern Pacific preferred were
each down IS per cent. In the early
trading the unfavorable crop news and the
passage of the forfeiture bill by the
house of representatives at Washington Gre
ated an unsettled and rather heavy market,
but the buying of the trunk lines soon rallied
the list and prices continued to advance
with only slight reaction throughout the DAY,
and the market closed especially strong at
about the best figures reached. Final prices
generally show material advances. Lacka-
wanna is up l %; Lake Shore and New York
Central one each, and others fractional
amounts. The total sales of stocks to-day
were 231.097 shares, including:
Can. Southern. 3,S40 Northern Pac.. $500
D.L.& Western. 1920 Reading. . 1925
Erie. ......... 10, 475 ST. Paul .. o., O1O
Kansas & Texas $500 Texas Pacific. II, $40
Lake Shore. -. l9, 9S5 Union Pacific. $500
Mich. Central. S,240 Western Union. 1862
Northwestern. 1885 n. P. preferred 1858
N. Y. Central. BITS