St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-27
FINANCIAL
New York.
Special to the Globe.

Special to the Globe.
New YORK, March 2G.-Contrary to expec-
tation the news this morning regarding the
strikers was still quite unfavorable, and as a
result the stock market opened considerably
lower than last nights closing The senti-
ment of traders was stll bearish,
and what little support the market received
was in the way of covering. notable
exception, however, was Western Union,
which advanced steadily from the opening
1t was given out that strong parties were
under it, and that it was a particularly I'M
safe sale. The Changers were active. but
there was no heavy selling, and the market
in this group was inclined to be strong. The
news from the strikes was unimportant, ex-
cept as indicating that no settlement was vet
in sight. Lackawanna declared its usual ~
per cent. quarterly dividend. Pacific Mail
was q favorite with buyers on account of
congressional action looking to the continu-
ance of its subsidies. The general market
ruled about steady during the great part of
the day, with only moderate transactions
The market was made strong towards
the close on reports that the strikers
were weakening, and that a settlement
might soon be expected. Chairman Irons of
the executive board of the knights of Labor
however, was quoted as sayingthat the order
of knights of Labor must be recognized and
that unless matters were settled within few
days the Knights would be called out on all
roads throughout the United States. The
effect of this statement was to entirely de-
stroy the bullish feeling regarding a settle
ment Of the strike. The market quickly
weakened, everything on the list selling of
y to q of point. The closing of the entire
list was considerably below the best prices Of
the day and generally under opening quo
tations.
WALL STREET GOSSIP.
De Cordova wired Schwartz and Dupee: at
have been very bearish on the stock market
for eight weeks, but within the past two DAYS
the liquidation of long stocks has been so
general, owing to the strike scare, larger
gold shipments and small receipts of the
trunk lines, and heavy sales by the bears
which is reflected in the loan crowd by the
scarcity of stock, ] am inclined 10 look for a
better and stronger market. My favorites
were Lackawanna, Western Union and Mu-
tual Union Telegraph. The coal combination
is as good as made, and is the strongest that
the companies have entered into. As soon
as the labor troubles are out of the way the
market will respond, and a better feeling will
be found to exist.
Cohn; AS long as the present state OF
affairs continues all rallies in the stock
market will be but temporary, as capital viii
not care to take the risks of labor troubles i'm
purchasing railroad securities We look for
further decline in prices, and would continue
to advise selling on the rallies
Saving d Vanderhoof: Gould was buying
western Union and he predicted the stock
was purchase. The willy old gentleman for
merly sold this stock all the way down from
SOC. and is now cHtching on again in the six
ties.
London does not appear to be scared at the
strike news in this country, as they have
taken out $4,000 shares of railroad sureties
the past few days.
lawson: In the absence of buying orders
in Northern Pacific preferred, il would be
easy to break it five points, as there is plenty
for sale.
the Union Pacific about this time. and This
it is believed, has helped to hold prices.
G.. ID. Nc Kay: The market is a sale on
every rally. as only the short int crest is COW
ering.