Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-04
What "The Street" Was Doing in New York
Yesterday --Predictions About the Rail-
road War---"Points" for the Lambs.
Especial Telegram to the Globe. I

road War--"POints" for the Lambs.
Especial Telegram to the Globe.
New YoRK, Dec. 1T is said that the
Michigan Central capital is to be increased
from $1o, 100000 to $2O,OOO,OOO, and
scrip dividend OF 20 per cent, besides 2
per cent in cash paid to stockholders at
the end of the year. The Canada Southern
lease is said to have been unanimously
ratified.
Many operators think an easy money
market should start a big boom in prices.
It is said that great influential pressure
has been brought to bear upon the mana
gers of Northwestern and Southwestern
railroads to induce settlement of the
troubles to-day. Big men are said to be
on the way to Chicago to lend voice TO-
wards harmony. 1t is said the
fight cannot possibly last over the middle
Of December.
A great many people seem to be specu
la.ing for January rise. It is stated that
Erie will pay quarterly dividends next
year on prererred stock. Jersey central
is said to -,e negotiating with an English
syndicate for the sale of large portion of
its dock property in Jersey City, and that
the receipts from the sale will enable it to
remove the receiver. The reported sale of
100000 acres of Northern Pacific lands is
not believed by we'll Informed parties in
Boston.
Messrs. Winslow, Lancir & Co., on behalf
of a syndicate of European and American
bankers which they have organized, have
concluded their negotiations for the pur-
chase of large amount of first mortgage
bonds of New York, Watertown & Buffalo
railroad, by which ST., 900 cash is to
be furnished for the completion of this
railway with ample equipments
and terminal facilities, besides
interest requirements. The bonds have
been taken at an average of per cert.
and accrued interest payable in install
ments as wanted for construction. BY
this and the previous sales of bonds at par
the company will realize an average OF
about so per cent. for the entire issue OF
bonds. The officials of this road announce
that this line is expected to be ready fore
traffic over the first division by Feb. L, and
to Albany and Syracuse about thirty days
later, and for through trunk line business.
to B0Ialo Aug.1.
The short interest in Missouri Pacific,
Western Union ana Wabash is reported to
be larger than ever. Very few bears re-
leased their grip during Tuesday and We'd
nesday's advance. Wabash preferred is
| believed to be practically cornered,
and the story that $4,000 shares
were imported from England and
quietly absorbed is mildly indicated.
Western Union was heavy owing to an
ingenious construction placed upon the at
torney generals decision, that Western
| Union itself is as mach liable to censUre as
Mutual Union.
| Good information in regard to the
! granger war IS that il a certain line of
stocks had been secured to-day, the
| chances for truce are much better than
| if such stocks had not been bought. The
apparent effort to buy st. Paul on the
weakness of the general list this afternoon
| is thought to have been in pursuance of
this plan.
The Willard stocks have been especially
active. There is very little doubt" said
a broker, ssthab three or four houses can
make the preferred sell at any price de-
sired, and it is almost as sure that they in
tend to sell at par next week." Oregon and
Traus-continental and Northern Pacific
common have been strong in sympathy.