Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-20
NEW YORK.
Especial Telegram to the Globe. I

NEW YORK.
Especial Telegram to the Globe.
New YORK. Dec. 19.-On change to-day
the volume of business has been Highland
at times the market became very stupid.
There has been no pressure of stocks, and
in most instances prices show an improve
ment over last evenings prices. We may
be treated to this lack of activity until the
end of the year, possibly, and as on yester-
day money may become more active, but
it will be of short duration. The princi-
pal trading to-day has been in Union Pa
ci6c, Denver, Louisville & Nashville, and
Omaha. Michigan Central, though very
dull, gained steadily all day. The other
Vanderbilts show little change. Erie pre-
ferred was advanced to SS1I,
and, as for some time past, is
being purchased for the per cent. divi-
dend coming in January. Western Union
Telegraph became somewhat active in the
last hour, and sold above 80. The lighter
class of securities have been entirely neg
lected. Atchison sold at IS, and was of
fered at that figure later. Northwestern
earnings show falling off for the second
week in December of $4,000; Wabash for
the same time, $4,000 decrease; but St.
Paurs earnings were $4,000 in excess of
those for the same week of 1851.
Money has been easier, closing at 3 to 4
per cent. on call.
Almost every one was looking for lower
prices in Wall street this morning.
But things 60 by contraries down
there, and after opening, the list
stifened up and there came quite smart
advance, lasting for an hour or so. Then
the market declined again and went dull,
closing without feature.
Opinions vary widely as to what course
prices will now take. Here are Gould and
Vanderbilt with mighty interests at stake,
openly proclaiming that the market must
advance. They talk it wherever they 60,
and Gould's newspaper prints it. Here is
the powerful Windsor hotel party. with
half the street for followers, the party that
has won every campaign it has undertaken
for months back. saying boldly to day that
the market has had its rise, and must re
act again. Keene inclines with
them, too, although he was buying some
stock to-day, it is said.
The great factor in rise, the general
public, did not come in and help along in
the squirt of last week, and that encourages
the bulls very much. The great majority
of street operators seem to think that the
market will now decline or grow dull until
after the holidays. There were indica-
tions to-day of pinch in money this
week, which would set prices spinning
down hill. Nevertheless many persons be-
lieve that the market will ad-
vance. Traders yesterday had the orders
to depress Denver. They hammered and
prophesied until the room believed that
Denver would look dear at %. When
it was all over, prices went up quite as
fast as they had gone down. It still looks
as though somebody wanted to buy Dem
yer, and thought best to depress the stock
as much as possible. The Osborn pool
did not begin to buy until after an expert
examination of the books of the company
had been made. The Sickles report of the
condition of the road is likely to be favor
able. It is a fact that the stock was
well bought while under attack.
The rumor or a consolidation of Wabash
and Missouri Pacific finds some believers.
The scheme is said to be to connect Wa
bash with the Lackawanna extension, which
would bring Mr.. Gould very near to the
control of a continental line. Missouri
Pacific has not suffered in previous consoli-
dations. and friends of that company are
| very sanguine that its interests will be pro-
tected no matter what happens. Points
have been given this afternoon to buy Lake
Shore. Vanderbilt hackers say that the
| earnings of the road are unequaled and
that there is ample basis for booming the
stock to $3.50. They think that Vanderbilt
has not sold enough stock to cloy his APP
petite for higher prices. Watchers in Pa
cifc Mail credited the quick rise to Keene's
| manipulations. He was said to- have
bought Canada Southern and Erie to con-
siderable amounts. There are indications
of rise in Erie. Strong people believe
that Erie is good stock to trade in, and
they mean to make it more active than it
has been for several years. They think the
earnings of the company justify fuctua-
tions in the price between 40 and SIS.