Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-12-04
WALL STREET GOSSIP,
Encouragement Dericed by Bats FROM
Secretary FOt1cr's Programe ana "e
Railroad Prospects.

ENCOURAGEMENT Dericed by Bats FROM
Secretary Fot9cr's Programe ana the
Railroad Prospects.
IN. Y. World, Nov. 3d.
ga turn and drive was made IN the
market Immediately after the opening
this morning." said leading operator,
.sand prices were beaten down about one
half of l per cent. The bears, however,
soon discovered that there was good de-
mand for stocks and that it was useless
to keep up the raid for lower
prices. The feeling of confidence is
becoming stronger daily, that cannot be
cainsaid-and as it grows the demand for
Securities becomes greater. The action
of the secretary of the treasury yesterday
will remove any danger of any partlcu-
lar strlngency in the money market. 1t
is perfectly natural that from now to
January the rate for money should &C.
casionally reach 32d and 10th, but those
rates would not be sufficiently high to
check speculation. 1t is safe to say that on
this last call by the secretary
of the treasury from $S,000,000 to
$40. 1000. 900 of bonds will be sent
in between now and the 4th and 9Th De-
cember Then on the 1st about S2,500,-
900 will be paid out for interest and from
Sc 900 600 to 100000 for pensions.
These payments will keep the rate for
money comparatively easy"
THE RAILROAD TROUBLE WEARING OUT.
Said an observant broker: ''There
seems to be no doubt in the mind OF any
one that the different railroad companies
will have all the business this winter that
they can conveniently handle, land from the
present outlook full rates will be estab-
Iished. Therefore the profits this winter
ought to be much larger than last. 1t is
not necessary for railroad companies to
sign an agreement to settle a railroad
war. If all hands charge full rates that
is settlement enough so far as stockhold-
ers are concerned, as it is the prices they
get that make the money, not the prom
ises the may make to each other. Ii
the Vanderbilt party will make some
positive announcement as to their plans
and views it would aid very much in
giving US a bull market, as there are
great many operators who fear that
MIR. Vanderbilt and his followers are
working for a decline. The disposition
that they have recently shown, however,
to close the railroad branch does not agree
with this idea. There is much surprise
at the trouble that exists between the
Baltimore and Ohio and Mutual Union
Telegram companies, as it has always
been supposed they were working to-
gether. The Mutual Union managers
have probably discovered by this time
that Mr.. Garrett is troublesome customer
to get along with, and that, like big
schOolboy, he either wants his own way
or will destroy the game"
\ CHANGE DESIRED BY BROKERS.
cat the close to-day" said another
broker, ''money was up to a sixteenth
and interest, due largely to the near ap-
proach of the 1st of December, settle
ment day, and prices of stocks went off
slightly The market, however,
had strong backbone. Erie
advanced rapidly to At upon the
news that Mr.. James Keene had been
dropped from the board Of directors, as
sisted by the facts that dividend of 6
per cent on the income bonds would be
paid January 16. There is one fact that is
very near to all of us brokers, namely, we
are suffering for the want of commissions.
The outside public is not contributing
largely to our support, and there are two
sides in the assignment for it. One says
that the general public will buy only for
higher prices, and it takes well devel-
oped bull market to bring them
in The other says that the mar
ket must go lower, that the outside
spectators have become very
shrewd and cautious, and will wait until
stocks 90 so low that there can no be ques-
ton of their value at the prices as per-
manent investment. Whatever may be
the reason for it, the members Of the Elk
change, except those who are
doing business for the great opera
tors, are having a very dull season.
1 want to see decided change one way
or the other, and l think that not only
the most probable but the best change
for us would be decided upward move
ment. The fact that tight money can do
so little to lower prices proves conclusive
ly to my mind that the market is inner
emily very str%g.