Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-10-19
AFTER ELECTION
What the NetC York Brokers Say Aftes
Election.
New York World. Oct. Ia.

UNUC ttS NttC ASTOheF6 CuY 6ICSS
Election.
New York World. Oct. 14.l
81 suppose said q we'll known Wal
street operator yesterday afternoon, '.tha,
The Republicans will 60 to claiming that the
big rise of the market to-day Is due to what
they claimed this morning to be their suc
cesses In the West, but as this market really
started yesterday before any one could have
any idea which way Indiana and Ohio were
going, the claim is without foundation. The
market has had a strong undertone for some
time, and this movement was fsirly under
way when it closed last night. One thing
that has added considerable strength to the
market has been the settlement of the West
ern Union election. 1t seems that yester.
day it was discovered that there was con.
siderable opposition among the friends Of
American Union to make any alliance with
Western Union, especially as the Western
Union people wanted to buy out American
Union. The difference of opinion that ex.
listed among the holders of the stock finally
resulted in the understanding that all oppo-
sition to the Green party should be with.
drawn. As both companies are doing all
the business that they can possibly take care
of, it was thought best that they should re-
main as they are, and not enter into any wa,
which would result in loss to either com
pany. Thereupon Western Union Joined in
the 'bulr movement and added great deal
of strength to the market. The movement
in Erie has very slight foundation in the
shape of report that Mr.. Gould was 9
heavy buyer and seeking control of the com
pany. This story has been circulated sew.
eral times before. Its revival now with
manipulation by Keene and others has
caused very 'bullish' feeling in Erie, but il
cannot be long before the bears will dis
cover that this story is false and then there
will be disposition to get out. To my
mind the Lackawanna extension. on which
building is going rapidly forward, will pre-
vent any very great upward movement in
Erie. Since there was very short interest
in the market the rise in prices this morning
brought into the street great many stock
orders, which of course helped the 'bull'
movement. There is belief that the ex-
tension of the Missouri, Kansas and Texas
road will add very greatly to its value and
to the value of other Southwestern proper
ties, such as Texas Pacific, New Orleans
and Missouri Pacific. With the exception OF
Erie and the Granger stocks it seems to me
that everything savors of strong 'bull'
market. The disposition BY the Farmers
Alliance towards the Granger roads makes
me feel that they are very doubtful invest
nnent at the present time"
Another broker said: "We have done
more business in one day than for q week
past. The orders came rushing in at great
rate, and all day long the transactions have
been very heavy. 1t was with difficulty
that brokers could be got to execute orders
and buy. There was good demand from
outside, for such houses as Vermilys & Co.
have been taking heavy lines of stock.
When got on the floor this morning every
thing was sailing skyward. The trading has
been general all through the stocks, with
possibly an exception in Western Union,
which understand Mr.. Gould has been
buying heavily. Why did the market 90
up2 Well, the elections in the West were
over. Capital doesn't like uncertainties.
OF course Democrats and Republicans alike
are trading together to-day, and both are ot
one mind on financial topics to certain
point. Democrats es well as Republicans
were cautious last week, and both are iubi-
liant and active to-day in the upward rush OF
stocks. The natural tendency to rise which
the market has felt for some days, but which
has been suppressed, has found en- outlet.
That is about the explanation of to-day's
work"