Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-02
NEW YORK.
ESPECIAL Telegram to the Globe

iSrecial Telegram to the Globe.l
New York, Nov. 1.-The market has
been a counterpart of yesterday dull
and uninteresting. During the early hours
there seemed to be an inclination to hold
some stocks firm, but after 10 o'clock there
was general giving away, led by New
York Central and Michigan Central, which
lost per cent. in short time. Texas Pa
cific came next, and sold at $l.10. It was
noticeable that Gould, while being inter
viewed, did not refer to this property as
being among his pets. It seems to be gen.
orally finding its proper level. Reading
was the weak spot in the coal roads, and
declined from 6O3Sc to 5SLc on
a reported Philadelphia failure.
Northfolk and western preferred, which
has been quietly paying 1c dividend every
three months with little doing in it, became
quite active for time, and following in the
wake of other southern securities, declined
2 per cent. The growing stringency in
money continues, and loans were made
to-day at II per cent. on call. Randall
and Weiman and JAS Boyd appeared in the
Western Union with large selling orders.
They simultaneously offered the stock, and
there appeared to be no support. Consid-
cradle capital was made of the action Of
the Mutual union people. In the afternoon
there was great and determined effort to
raid the market. TIE drive at New York
Central is understood to have !sen ersi-
neered by Van Embergh Il .,sarbury,
although noon advices we're thh. ne house
did no appear as seller. Brayen. Ives &
Cowen were alleged to have dopr ~. heavy
selling. Lake Shore lost little. y; ;chi-
gan & Canada Southern did NJ. '.:line
below the point at which support. : rs to
be ever present. It is believed j.. some
circles that the attack on New 70 \ Cen
trail was Gould move in retall.,,s.a for
the selling of Western Union attr, .sed to
Vanderbilt inspiration. Bostn, adj
vices are very bearish o. Wa
bash, and predictions of lower
prices abound. There has been, ,.~-erthe-
less, excellent buying to-day, and ..ome of
the shrewdest bears CAREFUL yomit Wabash
| preferred from the list of stocks, which
they consider ii advisable to sell short.
The weakness in Manitoba continues, and
the decline is rs great each day as re II:
vance was formerly. To-day ai,. st.si
days fall is attributed 10 sel2i..s q: Tic
part of insiders on the plea OF failure il
making satisfactory connections aud ar
engagements with the Canadian Pacific
Within the past few days & considerable
amount of Louisville and Nashville has
been sold on sellers options, generally six
ty days, which would seem to indicate thai
inside people are supplying the market il
advance OF the announcement of the sale
Of an additional issue of the stock
NEW STOCK EXCHANGE.
Especial Telegram to the Globe.
New YORK, Nov. 1.-Many members oil
the stock exchange have received an anony
nous circular. in which it is stated that
new stock exchange is about to be estab
lished, under the direction of gentlemen O.
well known position and the highest capac
ity. 1t is announced further that a larg,
piece OF property on Broadway has been
bought, and that the plans of the building
to be erected on it provide for a board
room larger than that of any other ex
change. The price OF the first 500 seats il
fixed at 1000 each, for which the sub
scriber will receive an assignable bond fol
$4,000, the land and building t.
be pledged as security for payment of tht
bond at fixed time. Seats in addition tx
the first 500 are TO be sold alta higher price
Among the members of the stock exchange
it was the general belief that the move
ment was merely the revival of one started
last winter to build an exchange on the
site of the old Washington hotel, at the
foot of Broadway, which had been bough1
a short time before by Cyrus ". Field
The chief persons then interested in ths
plan We're Jay Gould, Russell Sage anf
FieM.lw ho were displeased with the actor
of the stock exchange.