Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-06
NEW YORK.
Especial Telegram to the Globe. I

Especial Telegram to the Globe.
New YORK, Oct. st will be interest
Eng to know how the S12 100000, Louisville
& Nashville stock is to be disposed of. If
it could be bought in a block it would,
with the control of less than 10000 shares
of the old stock, give the buyers the con
trol of the entire. property. Such dispo-
.sitiOn, of the stock would make credible
some uof the rumors recently current
on Wall Street to the effect that the whole
movement against this stock has been for
the purpose of securing control of the
most extensive railroad system in the
Southern States. 'Qae opinion on Wall
street is that an amount equal to the
Few authorization has already been sold
short in anticipation of the forthcoming
issue. There are no end OF
prophecies concerning the course of the
markell Cyrus W. Fields newspaper says:
"Gould brokers continue bearish, saying
that a reaction will come, and will carry
prices lower than heretofore. The general
opinion of good houses is that prices are
nearer bottom, and that good stocks can
safely be bought on reactions. The fact
that the Gould brokers have been right in
their bearishness has developed unwonted
confidence in their views. The result has
been that the average trader, hearing both
sides, is very much Mixed
1t is intimated that Secretary Folger
will decide within a few days to make pur-
chases of bonds. The ablest people in the
streetargue that the only serious obstacle in
theway of considerable advance in prices
is the lack of money. Should fair trea-
sury+supply be insured, there would be an
amount of buying which manipulators
would scarcely try to resist.
Another authority said: ''The stock
ma rket properly derives benefit, which by
and by must be felt, from the fact that
railroad receipts continue SO large, and
that there is every promise of profitable
wintei's business, the visible tonnage being
large. 1t is also known that the policy of the
controlling managers is to keep up pro-
fitable rates. The large foreign buying of
OH stocks is also favorable to firm
prices.''
About the only really strong stock
on the board today was Chesapeake &
GAhio, which went up on the theory that
it was somehow or ether to be benefited
Icy the movement in Louisville Il Nashville.
Groom traders are bearish on Lackawan-
ma" said a broker to-day, and another
said, 1.-The argument used against the stock
Is shat it orght not to sell higher than New
York Genital, which is four-tracked road
backed by the richest man in America, and
has.two or three different markets for its
stock. ,whilethe Lac kawanna has but one .
Said broker, speaking of Louisville.
New Albany and Chicago: The bullish
feeling on the stock has somewhat subsid-
ed upon clear.;deas as to what the company
proposes to do. The contemplated issue
of stock is understood to
have been given up, and the
excellent terms on which vas proposed to
| give the new stock to stockholders have
vanished The scheme of extending the
line to Cincinnati is also said to have been
abandoned. A lire to Harrisburg, thirty
six miles, Is said to be contemplated, but
will not be built now. This new branch is
understood to be in direct conGict with the
interests of the Louisville & Nashville com
pany and 1t is thought steps mag be taken
to prevent its building.'