Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-15
NEW YORK.
Especial Telerram 10 tho Gloha ]

Especial Telegram 10 the 6lobe.1
New YORK, Nov 14.-On 'cbanoe there
was fair demand for stocks at the OPEN
ing this morning. Some properties were
slightly lower than on yesterday, but the
undertone was firm and gain was made
all along the line before an kour lad
elapsed. Western Union, Louisville g.
Nashville, and delaware Il Lackawanna
l5d IN the activity and were in demand.
Mr.. Gould was reported as a large bor-
rover OF money, and the great bears of
the street as being much oisconcerted at
the upward turn IN the market, which they
had no power to arrest. The gran2ers &
Rock Island were dull, Manitoba
sold at 1852, Pallman at $1.51, and there
was sale of San Francisco preferred at
564. In the afternoon there was a break
in Rock Island to $1.275a caused by rumors
that there was not any prospect of an i'm
mediate settlement of the differences be-
tween Minneapolis and st. Paul lines.
This also weaker ed the granger and the
Omaha, and gave the bears some encour-
agement. In the late dealings Louisville.
Nashville closed at the highest point of
the day. The Gould following do not dis
guise their position. They are bulls now
and forever, until spring, and they
say that Western Union, Wabash
and the Southwestern system must
advance materially. The feeling
among operators, however, is very much
mixed. It was argued that the war in the
Northwest was inevitable; that the break
in Western Union was almost assured. and
strong bulls on the market had agreed to
withdraw their support to permit the
covering of the shorts by the strong bear
interest, and that these factors would
prevent bull market for the present.
Many bulls claimed, however, that liquida-
tion in all but the Northwestern stock had
about ended. and that the war in North
western could not produce much gen
eral decline and could not last long;
that the strongest interest on the
street were bulls. These factors would
prevent much success for the bears. Mr..
Gould said,when Mr.. Folger announced his
policy by calling bonds without rebate, he
lifted the only cloud there was over the
market. Very shrewd operators say there
is an immense short interest in the market
but that it may be forced to cover shortly.
Early in the day st. Paul and Northwestern
were sold down on the announcement that
Rock Island was cutting east bound rates.
The Omaha-Rock Island party says that
the trouble grows out of encroact
ments by the st. Paul. ST. Paul says that
the encroachments have been by the
Rock Island party. Level-headed men
here believe that the Omaha management
is working some scheme which can be
advanced by creating aissension. It has
been suggested that Omaha may wish to
compel Northwestern either to buy Omaha
stock or to break the running arrange
ment between the Northwestern and Oma-
ha, leaving the Omaha free to build line
into Chicago. Such lire would be of
great advantage, if the Omaha had an
idea of bringing the Northern Pacific into
Chicago. Talk of war in the Northwest.
has been current for weeks, but thus far
there has been great deal more of
talk than of fight. The Omaha
has given notice of it's intention
to withdraw from the st. Paul pool. The
notice expires about the Goth. If the
Omaha canoes its notice of withdrawal in
the meantime, it will be evident that there
will not be much fight at present. If the
pool breaks, some decline in granger stocks
may be expected.
A rumor of the settlement of ths Will
Jams case against the Western Union has
been current. The general comment has
been that it will be settled if it has not
been, and tlat in any case it will not be a
serious matter for Mr.. Gould. It is stated
that the Western Union has earned its div
idend for the current quarter, and has a
months business remaining.