Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-11-03


cent, Pacific Mail, Denver & Rio Grande and
Michigan Central leading in the downward
movement. About IL o'clock speculation be-
came frmer and an advance OF n to- per cent.
took place, the latter in Chicago q North
western preferred. This was followed by .
reaction Of Il to n per cent, but during the
afternoon the market again became strong
and after the second call the general list
showed an improvement of X to 2as per cent /,
the latter for Erie common and preferred stock
-grangers and trunk line shares, Denver &
Rio Grande, Louisville & Nashville and North
ern Pacific being also prominent in the ad-
vance. Metropolitan Elevated sold up * per
cent to 100. reacted to SO and rallied to 99%.
Oregon Navigation declined TX per cent. Tho
were fraction off from the best figures of
the day.
The Commercial Bulletin says: The new
feature iu the share market was Erie, which
advanced to 46X on large purchases, chiefly
by brokers of Kesne. As stimulus to the
rise it was reported the London trustees had
induced Vandsrbi to accept the presidency, a
report which should be received with much
allowance. Vanderbilt stocks were strong,
but there was no indication that Vanderbilt
or his immediate friends we're buyers. Gould
stocks we're also strong, but not noticeably 50
except Metropolitan Elevated. Undoubtedly
Gould is the principal support Of the market,
and with his skill as maniDulator and large
financial recovery he is undoubtedly great
power. Whether his manipulations are for
the purpose of sellir g stocks Or for bull
campaign is question about which the best
opinion is divided. He holds an enormous
amount Of Western Union Telegraph, which,
on paper, shows him ut the present prices a
profit of 80 to ~ points, and sotue one has
sold gre It deal of this stock every time the
general market has been made strong in the
last few week, aud there are those who think
the entire manipulation 10 TO market this
stock. The whole speculative situation is
very confusing and On this account prudent
spectators are doing very little in the mar
ket and outsiders doing next to nothing. Ii
Vanderbilt is preparing to be bull then the
principal bear influence in the market will
sson be withdrawn, but this, again, is one of
the points about which there are thousand
surmises but little or no knowledge. So far
as the influences are concerned about which
judgment can be exercised it is known the
grain crops are much less than q year ago,
which will affect the tonnage of the railroads
in the next six months; that rates are much
less than year ago; that we are importing
less gold than year ago; since August only
about one half of the amount imported year
ago, and yet that prices Of stocks are, as a
rule, considerably higher than a year ago.
Earnings of the Denver & Rio Grande railway
for October 1866. 6S6, against $473.3lS for the
same month last year; earnings since January
/, 5000. 66s; miles operated now go; pre-
vious year SOL. 81
The transactions aggregated 1886, 900 shares:
Canals Southern 1900; Central Pacific 10000;
Delaware, Lackawanna & Western 17,00O;
Delaware & Hudson 5000; Denver & Rio
Grande %, QUO; Hannibal & st. Joe 1000; Mis-
souri,, Kansas Il Texas 5000; Lake Shore
%, 900; Louisville, New Albany & Chicago
loo; Michigan central $4,000; Missouri
Pacific 1850; Chicago & Northwestern
1000; New Jersey Central $500; New York
central 5000; Northern Pacific 1000; Ohio
& Mississippi 1880; Ontario & Western
1900; Pacific Mail 1900; Philadelphia d
Reading 1880; Chicago, Milwaukee & 81
Paul II 900; St. Paul & Onaha 1900; Texa
Pacific $500; Union Pacific ll,0Oo: Wabash,
st. Louis & Pacific 1000; Western Union Tel
egraph 600.