Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-11-26

and extensions in every direction. Some of
the wise heads in the street say that the big
operators are unloading, and that prices have
reached the top. But the steady buying to-
day indicates that more believe in higher
prices than in lower ones. Any predictien
as to what the next turn in the market will
be would be hazardous.
Another C0rresp0ndent.
NEW York Special Nov. 22) Chicago Tribune.
Speaking of the sudden upward turn in
stocks, the Eoening Post tonight says:
While there are excellent reasons for high
prices, such as magnificent railroad earnings,
the prospect of very easy money next year, the
growing disposition of investors who are driven
out of United States bonds to take railroad Sc
curites. and the prospect of a large European
demand for American securities, or of a contin-
nance of the present demand, we say, while
there are excellent reasons for high prices,
there is also reason why prudence and caution
should be the rule for the next few weeks, un-
til it is known that the supply of loanable
funds will continue as ample as it now is.
VANDERBILT.
There is rather more enthusiasm over the
Vanderbilt stocks than for the remainder of
the list, but all the dividend-paying West
ern railroads have strong friends. Mr.. D.
o. Mills is known to have been large
buyer of Lake Shore on Saturday last, up
to 119, and it is stated on authority that
about 10000 shares of this stock have re-
Gently been shipped to Europe. Mr.. Wander
bilt's intimate friends and relatives state as
positive fact that after the payment of four
per cent, on the 1st of February next,
upon both Lake Shore and Michigan
Central stocks, notice will be Civ
en- to the stockholders of both
these corporations that quarterly dividends
of per cent. will thereafter be paid regu-
larly. George A. Osgood claims to believe
that Michigan Central and Lake Shore will
both sell up to 140 next year. The Lake
Shore road, it is claimed. is earning fully as
much money in proportion as the New York
Central, and, therefore, should pay the same
rate of dividend. Mr.. Osgood believes that
New York Central will soon sell at 160, and
he stands ready to wager $4,000 that it will
sell equal to 200 in 1881. It is said that Mr..
Osgcod's line of speculative stocks, pur-
chased within the last few months, show
PROFITS OF OVER 81, 100000,
and that ne has not sold any of those bought
for investment. Joseph G. Mills operations.
~ I'D oHiN3 hofO OSC1A iuAfy ob ouDCOSSluls AkIs
Osgood Is great bull on Delaware, Lacka-
wanna & Western, which, he thinks, will sell
up to 125 early in the year. The friends of
THE ERIE RAILWAY COMPANY
believe that the earnings of this company
this fscalyear will aggregate nearly $2a,oOO,-
600; that the common stock will sell above GO
before the close of the year, and that the
second consolidated bonds will rise to 110
before the middle of January. "put" on
ST. 100000 of the seconds for ninety days at
par was sold on Saturday for 1 per cent.
The Union Pacific railway people are also
talking very bullish upon all of their secu-
rites, and wealthy stockholder offers to
wager $4,000 in cash that the stock will sell
up to $50 before it declines to S5 again.
From this it would appear that the stock
holders of this company are not very appre-
hensive of competition from the rumored
Vanderbilt Mills transcontinental opposition
road.