Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-10-08
WALL STREET GOSSIP.

Ihs "Bnu" Movement Arrsves aud fhe
Street Teens toiM Joyous Pr0phesy-
ing.
New York World, OCT. s..
The predicted bull movement struck the
market to-day with great force" said prom.
inent Wall street operator yesterday,
though there was an effort to keep
the quotations down made by those
who are covering shorts or attempting to
lay in good line of holdings for the rise which
all see is sure to come. The many reports of q
coming bull movement having been verified
in every case, the outside public is focking
into the market and making it more
difficult than it has been for some
time past to manipulate stocks. There was
great collection of orders over Sunday, and
this morning there was general advance over
the rate OF Saturday night. The outside or
ders were large for Erie and the Granger
stocks, while the city apeculators saw some
thing good in Elevated Railroad stock, sending
Manhattan up to 38E. This, however. NAV
have been due to the recently circulated re-
ports of exceptionally large business on the
elevated roads, particularly the Metropolitan,
whose stock got up to an even hundred. New
York Elevated did not advance so rapidly, be-
cause they hsve not been making any reports
OF late and seem 10 be holding their own only.
The chances are that in the near future these
two corporations will draw closer together on
the quotation list, for recent changes will
throw still more business into the hands of tho
Metropolitan company. It would not be at all
surprising to see the two stocks quoted very
near together, purely on q comparison of earn
ings. Of course, as goes Metropolitan SO goes
Manhattan, and chance may yet occur for some
one to get out Of that stock at a sroft, Il
must be borne in mind, however, that the tri-
partite agreement is not as yet cemented and
q sudden tnmble may be In order. 1t was
noticeable that while the Vanderbilt stocks
went M to-day the Gould stocks were weak.
Western Union was not In demand, the agree
ment to leave it alone being very general.
Kansas and Texas frsts were said to be the
special demand of MIR. Gould TODAY. his oh
1ect being, 1t is said, to be able to take the
road from the hands of the receiver and use it
TO hls own advantage as combination or op-
position road"
A bioker who had been very busy all day
said: "The market has been active Though
not entirely q steady 'bulP market There Is
feeling among some of the operators that 1t
is as well to go slowly while the tendency is
upward. The rise is easily checked by offer
ings of stock. and many who have seen rather
dull times of late are now Offering in order to
realize at once ON the rise. The demand from
outside is steady and large, however, and such
houses as the Wormsers and Hallgarten and
Hoffman have been buying for shipment on
foreign orders. The Granger stocks particularly
seem to be favorites, and gentleman
just back from the Northwest predicts rise of
twenty cents in Northwest common, while st.
Paul, he thinks, will get past par very soon.
The country, he says, is looking maguifcently,
and, with one eye on that fact, the brokers are
keeping the other eye on the state of Europe,
as the chances are that the usual large ship.
ment of grain will be increased this year in a
ratio with increased acreage. Another half
million of gold received at the essay Office to-
day from the steamer Arizona. and the October
interest from the treasury building
are making themselves felt In the
market. There were reactions all through
the day, and some of them induced the
brokers who are easily scared to see crash ahead
at least, they pretended to see it-b1t it may
! be they saw only that prices were too high
for them to buy with profit. I think that even
| with the feyerish closing tonight the market
will open steady and strong in the morning.
There was early in the day report started
about the re-establishment of the Southwest
ern pool, and its natural effect was to send up
the stocks affected. Burlington & Quincy went
up, and then when the rumor was declared to
be premature the quotations dropped back.
TIE amicable settlement is, however; expected
| at any moment