St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-06-07
New York.

Special to the Globe.
NEW YORK, June 5.-Omaha led the stock
market again to-day in activity. The point
was given out that the price of the common
stock would open strong and would then be
sale, but on the contrary the market opened
weak and then strengthened.r ruling a fraction
above opening the rest of the day. The gen.
eral list. however, was heavy. Some strength
and activity was galvanized into some of the
fancies. Oregon Transcontinental and Kansas
Texas each advanced about l per
cent. The theory accepted in some
circles was that the movement in the
cheap stocks was the best evidence that
the upward turn had eliminated, and the
leaders were bidding up specalties in order
to unload the rest of the market. There were
no new developments in the Granger rate war,
but competent railroad authorities were
quoted as saying that the net earnings of the
companies were less than at the correspond
ing time last year. The strike on the New
York city street car lines exercised depress-
ing influence and was one of the principal
causes of the weakness in the market. Union
Pacific attracted considerable attention, and
Oh Washington dispatches alleging that the
seventy-year bill in relation to its in
debtedness was likely to pass, the
stock advanced to 54ss. A determined raid by
room traders just before the close weakened
the list, but Lackawanna and the coalerS
were exceptionally weak. The point was
made that the Chicago bull party had entirely
liquidated, and the market would receive no
more support from them. The weakness of
the Changers seemed to corroborate this view,
and encouraged selling. There was some
talk of an advance next week in Norfolk
Western, and in one or two other securities,
but the feeling was that the boom had ended,
and that stocks had passed from strong to
weak hands. The closing was lower all
around than the opening.
NEW YORK, June 5.-Money on call was
easy at 16n2 ner cent. Prime mercantile
paper at 405 per cent, sterling exchange
dull and actual rates S4.S7A for sixty days
and $4.S9 for demand. Government bonds
were dull and steady. State bonds neglected.
There was an average business in railroad
bonds, Missouri, Kansas & Texas general is
leading the list, with sales of $4,000; East
Tennessee con trust receipts came next
with sales of S10S,o00 out Of the total
days business of $1,639, 500. The market
was firm throughout the day and final prices
generally show advances. The feeling in
stocks was less confident in consequence of
the renewal of labor troubles, and the open
ing was decidedly weak There was consid-
cradle selling Of large stock early in the day,
which in its turn started selling for short
account, especially in Louisville s. Nashville,
but after midday better feeling prevailed,
Union Pacific, the friends of which pos
sessed the information the extension
bill would be reached this afternoon,
The bulls" also bought freely and prices
moved up rapidly, was considerable realizing
toward the close and prices were heavy at 3
p. m. Considerable comment was made on
sales of Oregon Transconunental at IL per
cent. below market seller five days, and it is
rumored thhat books are likely to close
within that time, the stock needed for election
purposes. Was realizing in Omaha this morn
ing by holders of long stock and it was slug
gish until taken hold of by its friends later in
the day, The coal stocks were conspicuously
weak toward close. Traders affirm that they
are being put down in order to buy. Loan
market was active and rates higher, and de-
mand has sprung up for Louisville & Nash
vile. Lackawanna is down rs, Richmond s.
West Point ~, Delaware & Hudson IL, st.
Paul l and the rest of the list fractional
amounts. Oregon Trancontinental shows an
advance of Is per cent. The total sales
Of stocks to-day were, 294, $50 shares, includ-
ing:
Del, Lack&Wes. 81, 225I Pacific Mall. $500
Del. s. Hud..... 4,420iSt. Paul ....... 1850
Erie. ........... S,345 st. Paul & o.. 1881
Kansas & Tex. 1875 Texas Pacific. $3.50
Lake Shore. 1850 Union Pacific. 19, $40
Louisville 81 n. 4,095 Western Union. 9,410
Mich. Cent?. 3,700l North. Pac. pfd $3.50
l. I