St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-19

New YORK, July 1S:-Clearings, STA. 1885,
413: balances. S., 7ss, 19l Money easy at
3 per cent. Prime mercantile paper, 4l2@
Gig. Sterling exchange dull and steady at
81. for sixty-day bills. and 81. STA for de-
mand. The stock market was dull and weak
TO-DAY and under the bear attacks it became
more active and prices ran off materially.
though large portion of the loss was re-
gained toward the close. There was a
marked absence of the larger commission
bull operators are away at present and the
smaller class of operators are in
disposed to take hold, the condition
invited attack and the bears made
the most of the opportunity. though long
selling was not wanting, especially in the
irregular at the start and under the liquida-
ton of long stock weak and feverish tone
was given the market, and the sugar tlust led
off with drop of per cent to los. In the
regular list, however, there was also decided
weakness also, and a rumor that there would
be no dividend on Northern Pacific pre-
ferred was the occasion of decline of over
] per cent in that stock. The stories which
accompanied the slump in Manhattan yester-
day was made the basis for an attack upon
New England, the argument being that
if the proposed extensions of the Manhattan
were to be given up, there could be no con-
nection with New England and that road
would not be able TO reach New York. New
England lost nearly 2 per cent on this.
Atchison, which had been very well held,
next gave way, the decrease in the earnings
for the first week in July causing some sell
ing. Toward noon, however, the bears made
their great attack of the day and the first
point was Oregon Transcontinental, which
80 last evening. Richmond & West
Point was next and the ease with
which it ran off was a decided sur
prise to the street, especially as the earnings
for the first half year show an increase over
those of last year of over half million.
the insiders have been paying no attention
to the market interests of the stock, and stop
orders were soon reached, which accelerated
the decline, and it dropped to 1912, against
gon Transcontinental extended to the
ease with which other stocks
yielded. encouraged attacks upon the grang-
ers and coalers and Missouri Pacific, Read
ing. St. Paul, Union Pacific, Lackawanna
cent. The lowest prices were generally
reached toward 2 p. m, but no effort was
made to stem the decline. though Richmond
& West Point and Oregon Transcontinental
that time, however, rumor was circu-
lated that the negotiations for the pur-
chase of the Burlington d Northern by the
Chicago, Burlington Quincy had been con
Guided and the tide was Immediately turned
in the upward direction. The reaction wac
sh arp, and the covering of shorts assumed
large proportions, and before the close of
business, everything except Oregon Trans
continental, which remained sluggish, had
recovered nearly to the opening prices. The
close was active and strong. generally at
fractions under the first figures
After the early drop in sugar,
the trust stocks were quiet and fiuctuated
within narrow limits and the inactive stocks
were devoid of special feature. Most of the
list are fractionally lower this evening, but
the only important change is the drop of 2ss
in Oregon TranscOntinental. Railraad bonds
wers again dull and, as usual of late, re-
sponded neither to the activity nor the weak
ness in the list. The market remained
without feature of any kind through
out the day, and the sales of $685.
600 were accompanied by no move
sment of importance. Utah Southern
orado & Santa Fe seconds lost "a at 20;
Rochester & Pittsburg consols 81 at 1i6l2,
ane St. Louis, Alton & Terre Haute divi-
dends to 43. Government bonds have
been dull and steady. State bonds have
been dull and steady. The total sales of
stocks were 259, 7S7 shares including Atchi-
son, 37,195: Delaware, Lackawanna d
Western. Ii ,120; Missouri Pacific, IL ,535;
Northwestern, $500; Northern Pacific pre-
ferred, 1850; New England. 1880;
Oregon Transcontinental, 5,0S5; Reading,
%, OO5; Richmond d. West Point, 2O,6O5:
ST Paul, 27,370; Union Pacific, $3.50;
Western Union, 6,79O.