St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-08-06
FINANCIAL
New York

New York.
Special to the Globe.
NEW YORK, Aug. 5.-The stock market
WAS dull to-day, but prices exhibited no dis
position to sell Off. The Chicago party was
inclined to bull their specialties on the i'm
proved outlook for the corn crop, recent rains
having, it was claimed, done much good
The statement comes from this source that
the crop would be very nearly an average
one. Trading was light all around, but about
noon good buying movement was started,
which covered general advance of three
quarters OF l per cent. Lake Shore was
heavy at the opening, but improved
later on reports that the rate-cuttinp from
Chicago was not nearly SO serious as had been
represented. Louisville s Nashville was
bought largely for London account. The
earnings for July, it was expected, show an
increase of S150, 900. S. V. White said that he
had little interest in speculation, and for the
moment did not look for any radical move
ment on either side, although he was willing
to admit that he was not over buIlish. Rail-
road earnings were fairly favorable for the
fourth week of July; Wabash increased $780,
600, Northwestern $4,000 Canada Pa
ciac $1,000, and Mexican Central S735.
Toward the close the market improved all
around. s. V. White was reported to have
changed his position and to be at last on the
bull side. Jones and Ream arrived at Sara
toga to-day, and the talk was that they would
attempt to engineer bull movement in the
Granger stocks. The Gould stocks, particu-
larly Western Union, were active and higher
on belief that an advance In rates would be
ordered. "A report was received from Chi
oago before the close alleging that the PENN
sylvana was cutting passenger rates to New
York through scalpers to $3.50. The market
close6 strong at the highest point of the day
NEW YORK, Aug. 5.-Money on call easy at
per cent. Prime merca ntile paper 4@5.
Sterling exchange dull and weak; actual rates
$4.StD4. 84% for sixty-day bills and 81 S5@
1861 for demand. Government bonds were
dull at unchanged prices. State bonds were
dull and firm. Railroad bonds were quiet and
firm, except for Texas & Pacific, East Tenne-
see and Chesapeake & Ohio issues, which
were active and strong. Sales, So, 764, 5OO Of
this over one-third was in Texas & Pacific
issues. The Rios, coupon Off, furnished
$54l, 00O, and the incomes $341, 900! The other
active issues, Atlantic Pacific incomes,
$3s30G0. Prices were generally strong, and
New OrleansPacific irStS. coupon of, are I'D ~
at 77$4; ST. Louis & San Francisco, class B, az
at Hts; Texas Pacific consol certificates,
at I04: land grants, ~ at So; Rios coupon
OF, "a ut 661s, and the terminal 6s, "a at "a;
Rochester Pittsburg consos, 2 at 1O7;
Wabash Trust receipts, 2 at 81. The stock
market to-day presented very few features of
interest. There was almost no positive
news, and rumors were scarce. Dizziness
prevailed until the last hour, but prices moved
up slowly throughout the day. with no special
movement until the Wabashes were taken
hold off. Western Union was noticeably
strong during the morning hours upon report
that the earnings during July were unusually
large. In regard to Wabash there was talk Of
favorable developments in the reorganization,
most Of the buying being for inside account
The Changers were helped by the favorable
reports OF the crop prospects. There was
considerable discussion of the rate cutting
among the trunk lines, but the heavy bust
ness being done at present prevents appre-
tensions on that score, and the trunk line
stocks were strong with the remainder of the
list. The buying for foreign account was
noticeably less to-day than for some time
past. Louisville s. Nashville got the bulk of
the business The opening this morning was
fairly steady, the differences from last
nights final figures being in no case
more than Il per cent. At the last
hour Wabash became conspicuous for strength
and business and prices were stimulated over
the whole market, which closed strong at
the best prices Of the dsy. Almost every
thing on the active list is higher to-day. Jer-
sey Central, Lackawanna and Western Union
are each up rs, Texas & Pacific l, Wabash
common, 15s, and preferred per cent The
remainder of the active list is up fractions
Union Pacific, however, is down IS and Pa
citic Mail "a per cent. The total sales of
stocks to-day were 210,53S shares including:
Del, Lac. & W.. 18,950lSt. Paul. 500. II, SEQ
Erie ........... 10, 500 st. p. g. Omaha. 9,94O
Kansas & Tex. 4,590ITexa Pacific. ;. 19, $50
Lake Shore. -. 1880 Union Pacific. 4,435
LOUSY le&Nash 1895 Western Union. Is, $40
Northwestern. S,S19 Wabash Pacific. $3.50
Pacific Mall. $685. N. Pac., pfd.... 4.O7O