St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-05-24
FINANCIAL.
New York.

the Changers was the topic which attracted
most attention in Wall street to-day. 1t was
considered that the up-turn in st. Paul was
started by Newcomb, Clews, Green and Ber
tram, and one or two large Chicago speculate
ors. 1t was not believed that Armour was
actively engaged bulling stocks, but
it was thought that he looked
with a good deal of favor or
the advance. One of the chief elements
which enabled bulls to force prices upwards
was the enormous short interest. Before
noon. Northwestern had advanced II points
and st. Paul had touched S91s, with the rest
of the list higher throughout in sympathy
Burlington sold to-day eX-dividend per cent.
but before noon had regained its dividend
Pacific Mail was inclined to be weak on re
ports that the Transcontinental was further
from
SETTLEMENT THAN BEFORE.
The general market, however, was more
active and stronger than for long time past
About the only unfavorable feature wa:
heavy London selling OF American securi-
ties. Contrary to expectations the bull furol
in the Changers did not let up towards the
close. The shorts for once were badly cor
nered. They did not believe in the advance
until the market got so far away from then
that they could not get out eX
cept at ruinous loss. Just be-
fore the close one of Mr.. Armour
breezy, Western bull interviews were sprung
on the market, which had the effect of quickly
advancing st. Paul another u point. Mr.
Armour said that the recent issue of St
Paul bonds had been sold at los net, and thai
no bonus of any kind had been given the syn
dictate. The market closed strong Throughout
the list, though there was fractional decline
in SOME stocks during the last fifteen min
utes, owing to realizing sales.
NEW York, May 22.-Money on call easy al
11a@2 per cent. Prime mercantile paper 4@5
Sterling exchange actual rates S4.S63S fol
ment bonds were dull and steady. State
bonds were dull and firm. Railroad bonds
were more active, sales 2,144, 900. The adj
vance i'll prices continued and important
losses tonight are rare. Erie I'd consols, eA
June coupon, and west shore As were heaviest
and Houston & Texas issues led the advance
The main line lists, coupon off, was up al
Ill. Western division 75 coupon Off, 80 al
1887: the main line Eds rs at IS, and the
general mortgages IA at 64H. There was
active trading in Nickel Plate trust receipts.
The continued advance of the last few days
raised the question whether the bringing out
of long stock would not check the rise,
but the same buying continued to-day,
and in the face of extensive selling fol
foreign account and q great deal OF
realizing, to-night's final prices show material
gains throughout the list. The Chicago party
were lH5 buyers, anu
favorlteS, the Changers, are most cOnSpicu-
Gus in the advances made, st. Paul, North
western and Omaha each showing net adj
vance of over per cent The Vanderbilts
were strong with the rest Of the market, and
show material gains, the high rate for loans
of Lake Shore stock being q feature. The
favorable outcome of the presidents meet
ing undoubtedly helped these stocks. There
was considerable buying of Western Union,
generally believed to he principally covering
of shorts. Lackawanna was again active for
a time, and advanced materially, but became
sluggish again and was supported only by
manipulation. The market opened steady,
but the trading on favorite stocks at advanc-
ing prices soon carried the general market
with them. The prices advanced with no re-
action of Importance until near the close,
movement. and the market closed
heavy close to the best fig
ures reached. 1t was reported
to-day that the bill had passed the house Civ
ing the St. Louis s. San Francisco the right to
enter the Indian Territory, and the preferred
stock advanced over per cent. The Grang-
ers, as mentioned, are the only stocks on the
active list making net advances of more than
l per cent, Northwestern being up 13s and
st. Paul and Omaha % each, Lackawanna ]
and the rest Of the market fractional amounts.
ST. Paul was most active, its sales aggregating
"a, $40 shares. The sales for the week amount
to 1,2T6, 1888 shares, an advanced of 70, 600 over
those of last week. The total sales of stocks
to-day were 1923, 425 shares, including Della
ware, Lackawanna s. Western, 61.37O; Della.
ware & Hudson, 8, $50; Erie, S,225: Lake
Shore, 1885; Northwestern, 1925; New
Jersey Central, H. 700: New York Central.
10,S70; st. Paul, 1890; ST. Paul Sc Oman O.
1850; Union Pacific, $500: Western Union,
1870; Oregon Transcontinental, 9,240.