St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-07-24
FINANCIAL.
New York


NEW YORK, July 25.-The stock market
was heavy to-day, about everything on the
list recording fractional decline. Chicago
was credited with selling the Changers on re-
ports that the corn crop had been greatly
damaged by dry weather The bulls were a
little disappointed that the coal men at their
meeting did not advance prices more than Is
cents. London brokers said that American
orders were lighter than in some days past,
but that holders of American orders were
lighter than in some days past, but that hold
ers of American securities showed no DISPOSE
ton TO sell stocks. On the contrary, they
were buying the trunk lines and other spe-
| cialties, which have as yet responded moder-
ately to the recent advance. The recent re-
duction in the Illinois Central rate of dividend
was taken by some operators to indicate that
dividends on several other of the Western
| roads would have to be lowered during
the next year. The multiplication of
lines in the Northwest was be-
Heved to have proceeded too rapidly, and
| that the present rate of dividends could not
be sustained under the new conditions
Total shares to noon were $4,000 shares. The
market had declined from opening prices
from 1a0$4, and ruled heavy. There was an
apparent disposition TO hammer about every
thing on the list but there was nc decline of
consequence except in the case of the Grang-
ers and Northern Pacific advance on reports
that big land sale had been made on terms
advantageous toA the company. There were
several attempts made to raid Lackawanna,
but On any concession buyers stepped IN and
took all offerings. Indiana, Bloomington q
western reacted from the depress on Of last
week. Bull points were out on Oregon u
Navigation company. President Keep of the
Northwestern was quoted as saying that
wheat in sections of the Northwest traversed
by his road would yield from 10 to II bushels
Der acre. Peoria, Decatur " Evansville was
higher on increased earnings. The list
rallied during the last half hour about % per
cent, and closed firm at the advance.
NEW YORK, July 23.-Money on call easy at
11a04 per cent. Prime mercantile paper
405 per cent. Sterling exchange unchanged
Government bonds were dull and quotations a
shade weaker. State bonds were quiet and
firm. Railroad bonds were dull; sales
81, 641, 500. The Texas & Pacific issues were
the only feature Of the market. The sales of
reals, coupon Off amounted to $l57, 600.
Northwestern registered debentures are up
l1a@1015. Louisville & N. Corsols 111%GD1221a;
Utah southern extension Is, 219@75; Texas &
Pacific incomes, 104615 ard the reals, coupon
off, 154061; Wabash, Detroit division, 1885,
and the rs of 1879, 1919; Ohio southern lists
are down 2$4@lO0s4, and Utah southern gen
eral mortgages, 11a@S5. There was very
little news on the street to-day of character
TO effect values. The news from the
West related principally to the damage
of the corn crops and there was I'M
doubtedly heavy selling of the Grangers
principally for Western account, and they
continued heavy throughout. There is more
talk of the consolidation of the Vanderbilt in
terests under one corporation, and evidences
accumulate that this interest, which has been
| out of Wall street for some months past. is
again making Itself felt in the market. The
local stocks still continue sluggish, princi-
pally because large buyers think they will
not have to pay schedule prices for coal be-
fore September, and most operators think
that the agreement will not be adhered to.
The bright spot in to-day's market was the
Northern Pacific Oregon TranscoDtinental
| The general belief was that the positive ac-
| ton had been taken upon land sales and a
favorable time to announce it is awaited;
also that more harmonious relations between
the two companies named are soon likely to
be brought about. The market was weak at
the opening. first prices showing declines of
| q to y per cent. the latter in Delaware &
Hudson. The only exceptions were Louis
| vile and Nashville, which was up "A and
| Omaha Il per cent Further frac-
| tional declines were made the early
| dealings, though partial rally was estab-
| lished before noon, after which time the
market continued dull and listless without
apparent movement in prices until the close,
which was dull and steady. The net result of
the days business is declines from almost
everything on the active list from small
fractions ranging from X to % per cent.
Northern Pacific preferred is the only prom
inent exception, with an advance of % per
cent, although Indiana, Bloomington &
Western is up IS. Consolidated Gas shows
decline of rs per cent. The total sales of
stock to-day were 1885, including
Del Lack s. W. $4,000 st. Paul. $500. $50
Erie. ......... 6,31O Union Pacific :. 417O
Lake Shore. 5000 Western Union. 1870
Louis. &Nash.. 4,670 N. Pacific pfd.. IA $50
Northwestern. II, 056 Oregon Trans. II, $50