Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-09-22
WALL STREET GOSSIP.
One Vaesv of the Consing Wester,s linton
Electson-The Report Hhtck Strength
e,aed Wdbash.
New York World, 10th.

63G6U WUOU6Us
New York World, 19th.I
s'It is a mixed market, said one of the brok-
ers yesterday few minutes after the board
had closed, land think it will remain 30 mp
to election time. Now don't ask me what the
connection is between this market and the
election. don't know, But when there is
anything going that may go one way or may
90 another people don't feel like trading.
There is an uncertainty and desire to stand
off until things get settled. It is not feel
ing against one side or the other, but just q
desire to see plain sailing before any capital is
ventured, and all this makes very unsettled
market do not think quotations will get
much higher-rather the reverse-but there
will be short spasms of strength, as
the shorts are compelled to cover, ana so the
market will, think, remain until election is
over. To-day there has not been much of mo-
ment going on. The bank statement is favor.
able and money is plenty. Wabash and other
such stocks had strong tone on tie report,
which seemed to come from very good au-
thority, that the Southwestern pool had been
satisfactorily arranged and that there would be
no fighting about rates down there. This may
have been statement without truth; 1t is not
unlikely that it was, but it had an effect in
sending that end of the market up and giving
strength to the whole list. Western Union
stock is coming into prominence now in view
of the expected struggle at the October cleo
tion. The peace party claim to have the upper
hand, but there is good deal of feverish feel
ing about it, and no matter which way the
election goes there will be commotion."
A broker who has an especial interest in
Western Union at this time was asked about
it. 1.-THE whole history of the movement" he
said, Ills Just this: Stockholders and others
were good deal surprised to find that Presi-
dent Green's party had been selling their stock
in the market. They sold it with the hope
that the forthcoming report, coupled with their
sales, would tend to depress the quotations and
enable them to buy back at profit. But
while they were selling Gould was buying, and
instead of being able to buy back at profit
they found out that they were in for con-
siderable loss, and began to look about in every
direction to get control of sufficient stock to
enable them to carry the election and keep
themselves in power. The market has been
secured for proxies, and out of zoe, 600 shares
the Green party control today, according to
the Gould party have 10000. To help on his
bear campaign President Green started the idea
of war of rates on American Union. That
was very well. It would depress the price
of Western Union by wiping out its dividends.
1t is suicide for Western Union to 60 into such
war or even invite it. for American Union
will be found not at all backward when the
charge is sounded. Western Union has q eapi-
talization of SIC, 900, 900 to look after and to
pay dividends on, while the American Union
has but $l5, 100000 in very few hands. There
is a surplus of 81, 600. 600 cash in the hands OF
the American Union, which is held as build
ing fund, and this can be made available as
war capital. The American Union by the LIST
of January will have wires and facilities for
&c kI1
paying business of Western Union.
The smaller company is not troubled
with the thousands of small officers which are
so many leaks in the dividend fund of West
ern Union. The war party is making every
possible endeavor to secure enough of votes
at the election to keep it in power and is bor-
rowing right and left at high rates. Some OF
this borrowed power will pass out OF its on.
troll before this party can use it. It has 81, OOO
shares held in this way, and of this 1 know v
that about 40, 600 will be called for on Monday.
At the time, it is rumored, there will be 9
strong attack on the Western Union and we
shall see what real strength the war party has
American Union has not forgotten the acti on
of Western Union in their old wars.
There is a6 score to be
wiped out, and war Of rates would be an ex.
cellent opportunity. You may set it down q.
certain that the new company is not unwiil-
ing to fight, and that is proof enough that the
step wonld be false one for the larger compa
ny. With cooperative policy there is nc
reason why Western Union should not rise to
13O and American Union to ITO. The mem
bers of the war party are trying to save them
selves, but stockholders in the company may
have something to say about it."
II would like to say just one thing" said a
broker, who spoke for the Gould view of the
market: ut is lie that the southwestern
pool has been settled and that Mr.. Gould has
advised rise in the price of Wabash and the
line of stocks that would be affected by the
settlement or non settlement Of that pool.
There has been no definite arrangement and
Mr.. Gould is not in favor of higher prices un-
til the market warrants it, At present stocks
should go down q few points. The starting of
this groundless story had some effect for time
and is one Of the devices of the bulls to sus-
tain what they see is bound to be falling in
the market for some time to come.''
''Is the political situation having any eff.
fec"
mo; not to any appreciable extent. We
knyw and every business man knows that the
country is safe under any administration and
that the change about which 30 much is said
Is net in the least to be feared. General Han
cock, when elected, is not going to make any
attacks on the business of the country, aud We
shall go on pretty much as before. But a. any.
thing will do for campaign lie 30 on the same
grounds any twisting of facts is allowable
when you want to make sale if your buyer
thinks they have any bearing on the value Of
the stock in the barter. have no doubt tina,
the election will be brought into play like s
Wall street engine by some of the politica
brokers here. but really it is very little regard
ed by the business men Of the street" f"
Reeds Gilt Edge Tonic cures dyspepsis.