Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-09-06
WALL STREET GOSSIP.

The Westera RattT0ad Outlook american
linton.
New York World, Sept. 2.
"The Exchange was indebted for all its
business to-day to the short interest" said
disappointed broker, "and although
the lone was feverish throughout some stocks
were we'll sustained. Many conflicting
stories were circulated, and 1t is only natural
that there should be some anxiety to see how
far the fears of the 'bears' may carry the
market. The supply Of stocks continues
steady at to-day's fractional advance. The
attitude assumed by the Chicago,
Burlington & Quincy people evil
IDENTIFY meaDs open warfare. believe
that the projected line to Toledo is not
undertaken as mere menace, but will event.
ually be built. This may change the entire
western traffic and pooling arrangements
and cripple all the weaker roads which are
in direct competition with and for the most
partldependant on the patronage Of the
Burlington & Quincy. The Wabash off,
Gals have virtually decided to extend the
Missouri, Iowa & Nebraska road to the
Omaha branch of the Wabash road. It has
been further decided to build the Wabash
road direct to Omaha and it is perhaps the lat
ter step which has awakened 30 aggressive
hostility. The contest with Hannibal & st.
Joseph is drop in the bucket compared to
the other issues at stake. The price of the
Hannibal & st. Joseph stocks at the close
seems to indicate something valuable in
store for the stockholders. Mr.. Dowd, Of
Hannibal & 81. Joseph, is said to feel dis
couraged at the cold water thrown upon his
plans I suppose every supecuative trader
on the Exchange has secured at least 500 to
5000 shares apiece of either the preferred or
the common stock, and if Mr.. Dowd's
success falls short Of his hopes
there will be much tribula-
ton. It is probable that late this
afternoon some interchange Of business may
grow out of the coquettish negotiations that
have been going on between the Hannibal
& st. Joseph trustees and the Boston direct
ors of Chicago, Burlington q Quincy. At.
the best believe 1t can only amount to
traffic arrangement to terminate at the will
of either side with an attempt to raise the 10.
cal tariff oD freight. There 0snnot be any
guarantee Of interest on Hannibal d st.
Joseph preferred, and If the arrangement is
carried out as Mr.. Dowd says it will be,
either Thursday or Friday, the Hannibal d
st. 10 common stock Is frozen out of
any advantage to be derived. Mr.. Dowd is
anxious that this compact should be signed,
but his stockholders may be surprised In the
long run II they discover In the alliance an
effort to sell the preferred stock at an ad-
vance and to allow Burlington q Quincy to
skim the cream of the milk. Hannibal d
st. Joseph must be left in the long run at the
mercy Of the network of railroads which sur
round it, and it behooves all prudent specu-
lators, not to speak of lamb like investors, to
consider whether Chicago, Burlington &
Quincy, as one Of the most
prwerful corporations, would make
concessions to weaker rival
when 1t is In position to dictate its own
terms. As the matter now stands, Wabash
has washed itg hands Of the whole matter,
and Hannibal & St. Joseph need not look to
it for protection in its troubles. Among the
active stocks, Western Union was freely
bought in spite Of the adverse decision In
the West. It remains to be seen whether or
not the large acquisition of new territory by
American Union, will enable the latter to
keep up its present scale Of receipts, and
thus lesson Western Unions earnings. It is
intended to call in the 2.O00,0 600 yet owing
| by the stockholders of the Central Construc
ton company before issuing any Of the
| American Union stock.''