St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-04
FINANCIAL.
Special to the Globe,

Special to the Globe.
NEW YORK. March 3.-The New York stock
market was active and strong, aud opened
h014c higher, and continued buoyant until
about noon. The new consolidation of the
coalers was the all-absorbing topic, and the
general feeling was in favor of high prices,
as the combination was deemed sufficiently
strong to carry its specialties higher, and an
increased disposition to buy prevailed.
Lackawanna was the leader, aud opened Il
higher aud advanced 2. A rally of ~ since
yesterday morning was improved by
many holders, and, under free realiZ-
ing, broke IL, but turned upward again.
as the break was only natural after such an
advance. Delaware & Hudson opened Is
higher and advanced q, but broke ~.
beading opened q higher and slumped IS,
but Immediately turned,a as free pointers were
given to buy for 80, and an advance of IL
followed, but it did not hold, and a IS drop
resulted. Jersey Central advanced rs, but
reacted ~. The strength in the 'coalers"
spread to other specialties. Lake Shore went
up q under heavy buying, partly on foreign
account, but IL was not good enough TO hold
the appreciation and = drop resulted. ST.
Paul advanced Is on increased earnings, but
reacted 4. Northwestern broke Is but jumped
back. Union Pacific and Pacific Mail were
carried up by the other stocks L@ss, but
their friends did not support them, and all
the gain disappeared. Erie preferred showed
nearly gain of L, but weakened "a. North
ern Pacific preferred was unsettled between
5SA and 591A, touching the extremes several
times. Western Union received moderate
attention, and advanced e, but broke IL.
Hooking Valley did not follow the advance,
and dropped 81 but rallied slightly on reports
of increased earnings. Total sales were 3d.
400 shares against AZ, 667 shares yesterday.
NEW YORK, March 3.-Money on call easy
at 2@3 per cent; prime mercantile paper,
405 per cent; sterling exchange dull but
M 81 fnt.C fxrfxy dnrr Q l.
for demand. Government bonds were dull
and steady. State bonds were dull and
heavy. There was increased activity in rail-
road bonds, the total sales amounting TO
S3,556,0 900. Prices I'm most cases show fur
Their advances. The coal stocks monopolized
a large part of the business IN shares, but
they were so very active that the total trans
actions amounted TO SIS, 1858 shares. Reading
L. Lackawanna contributed nearly 24s,O0O
shares, the other two coal stocks 1880 and
Lake Shore, St. Paul and Western Union
100000 shares, while the rest were very duh
and altogether featureless. The rumor
yesterday afternoon that a settlement
had been reached between Mr.. Gowen and
the Reading reorganization syndicate led TO
an active covering of shorts. especially in the
coal stocks, which was continued this morn
ing, resulting in first prices showing gains of
x to 5z, from which there were further
slight advances. Towards 2 o'clock the mar
ket was decidedly quiet, but renewed activity
auu soule slreuEIn III last nOur carried quo
tatious somewhat above the lowest of the
day and the market closed strong. Probably,
with one or two exceptions, the trading in
Reading was
NEVER so LARGE
as to-day-134,245 shares. The first sale was
made at an advance of q at %, from which
there was a break in the first hour 10 279s
and a rally before midday TO 2s5S. Sales in
the afternoon were made at fractions above
rs until the last hour when il rose to 295z and
AT 295s. Lackawanna made a gain of only 4
at the opening at 1872, but rose to 1873. broke
TO 1917, sold up to 1881 aud down to 1921
before noon, being exceptionally fever
ish with very large transactions.
There was another break after mid
day to ul3l15 and closed at 1872
Delaware Il Hudson and Jersey Central show
only small changes, the former being down
1sc and the latter sc. Western Union was
conspicuously weak on rumors tend ing to
show that the next dividend will be reduced
TO per cent. 1t closed with loss of l9Sc, at
7lSzc, after selling as low as 7l1Sc. The re-
mainder of the active list is pretty evenly
divided between gains and losses of small
fractions. The weakness in the afternoon
followed reports Ola failure in Boston. The
total sales of stock to-day were SIS, 1853 shares
including:
Del, Lack &wes. lis, 1874 PacihcMaI zee. Io.e3O
Del. Hudson II, 66s Reading. 1874, 245
Erie. ....... 1885 st. Paul. .. 30,S7O
Lake Shore. 1880 Union Pacific. 1850
L. e. Nash. 1880 Western Union. 29,6SI
NOrthw eStern 437bN p Dref IL 1o0