Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-25
STUPID STOCKS.
Not Enough Doing in Wall Street to Make
the Market Interesting---A Practical Re-
cess Till the New Year---English Grain
Marke.
NEW YORK.
Especial Telegram to The Glohe


New YORK, Dec. 23.-The day in Wall
street has been like its predecessors, dull
without feature, the attendance OF brokers
light and desire evinced to do nothing
by those present. During the morning
hours Norfolk & Western preferred
caused little excitement by declining
from 80 to 46 on report that the common
stock would likely be increased 10000
shares for the purpose of purchasing the
shenandoah road. The clique seem to
have made up their minds to carry over
their holdings into the new year, when il
will not be unreasonable to look for more
life, wider fluctuations and better prices.
The afternoon was devoted principally
to the usual holiday festivities
and business was lost sight os. The I'LL
nois Central displayed some weakness in
the final dealings, selling at $1.43A. The
balance Of the list made slight changes for
the day. The bank statement shows a
loss in reserve of 100000.
The closing figures were in many cases
rather firm. Chattanooga touched So and
Western Union 1924.
On Tuesday the exchange will open at
IL O'Clock.
st. Paul looked up fraction, getting to
$1.O84. Rock Island gained a fquarter
over its opening and Omaha q. Northern
Pacific held on to half cent from ASK to
465S. Northwestern was rather weaker at
the close, and the frmness was limited.
both in extent and amount.
The New York Central statement had the
effect of wet blanket upon the ardor of
the bulls, set by the more favorable reports
of the other Vanderbilt roads, Lake
Shore, Michigan Central and Canada
Southern. Other Vanderbilt statements
were not favorable enough to prevent a
decline in the stocks, although there was
support whenever raiding was attempted.
Osborn brokers made quite an attack on
Western Union yesterday to enable cover
ing, but there has been excellent buying of
Western Union for several days, and peo-
pie who usually have good infor-
nation advise purchases at current
figures. A Gould broker said this
afternoon that Mr.. Gould could be count
ed upon to sustain Western Union, and
any one who went for the stock would be
liable to get hurt. The strength of
Wabash common has been in connection
with the plan given in the gossip several
days ago. It is proposed to bring Mis-
souri, Pacific, Wabash and Hannibal &
st. Joe under one management if a salts.
factory method can be found. It can be
said, on the best authority, that no plan
will be adopted which will work injury to
the Missouri Pacific. The aim will be to
bring the Wabash, and Hannibal &
st. Joe into closer relations win the Mis-
souri, Pacific, and to open the way for a
continental line under Gould management.
It is not generally known how Wabash
common will derive its advantage, but it is
said that such an advantage will be given.
It is said that clause in the army bill
affects Union Pacific unfavorably by pro-
vision that government business shall be
done at so per cent. of ordinary tariff.
Speculation on Wall street is at a lower
ebb than it has been for months. There is
general indisposition to embark in new
ventures so near the end of the year, and
the drifting variations recorded on the
tape attract little interest or attention.
More doubt is expressed as to the course Of
stocks after the new year opens than has
been expressed for many seasons. 1t is
undeniable that the result of the years
business in commercial circles has been
far from satisfactory, and as commission
houses generally are aware of the fact,
they give little encouragement to the few
| customers left to them to deal.