Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-18
NEW YORK.
[snec:al Tele nam to the G lobe

Special Tele .1am to the Globe.
NEW YORK, Nov. 17.-On Change the
bears made an attack on Delaware d Lack
awanna the first thing this morning, SELL
ing it down to 13l. against 1929 on
last evening. The balance of the lis, for a
time became weak, but soon improved un-
der the leadership of Northern Pacific
preferred. A storm east interfered very
much with the receipt of quotations. St.
Paul came in for its share of attention,
and was raided below 1O7. Lackawanna
then fell to 130. Denver was sold in large
amounts, and remained one of the weakest
f fsatures, while on the other hand Northern
Pacific preferred continued very strong
and shows handsome advance. Consider
able of the stock is being absorbed
in payment of large purchases of
land by wealthy parties. Jersey
Central touched 6o15 during this after
noon. Western Union has been very we'll
held all day. The close was irregular and
somewhat unsettled. Erie preferred sold
at 85c.
bears began business this morning hope
fully, and with fine batch of rumors on
hand. The market in the early dealings
was unfavorably affected by reports from
the west in regard to the railroad war, and
by rumors of fresh issue of Denver d
Rio Grande stock, and also that an appli-
cation would be made for receiver for
the SIS, 100000 Western Union telegraph
stock divided among shareholders on the
late consolidation. Neither of these
rumors could be confirmed, and that relat-
ing to Western Union was regarded as
highly improbable. There was
good buying on the reac-
tions, and this feature of the market
was looked upon as favorable to rise,
when some of the unsettling influences,
now at work, shall have been removed.
The principal buyers appeared to have
been the ''room traders" who were sellers
yesterday and the day before ':for turn"
The large spectators appear to be doing
nothing, and the outside public are send
| ing in no orders of any account, either to
buy or sell. The reason given why the
capitalists and spectators who started
the last rise, quit so soon is that they
|
and north of Chicago would deter
their. followers in the street and
the public from coming in as
buyers even of stocks of railroads not con-
cerned in the war. It is conceded that this
war up to the present time, is within such
limits as to be controlled, and that it may
be settled very suddenly. Nevertheless, in
Is -
when it will be settled, and with its extern
sion into something serious possible, it has
undoubtedly had its influence on the stock
market.
Respecting the proposed lease of the
Canada Southern to the Michigan Central
, it is said that the directors of each com
pany will meet tomorrow to make the
lease; that it will then be final, so far as
Michigan Central is concerned
, but the case of Canada
southern it will be submitted for ratifica
, ton to the meeting of stockholders. Re
specting the Western Union, there is still
! talk of the creation of debenture bonds tt
take up for cancellation, the $15,OOO,OO
: par value Of stock issued as dividend al
the time of the last consolidation, but al
on this subject is vague. In other words
those who, according to report are N
cerned in the matter, dsc!ine to cnn!i~a.l ol
) deny the story. In fac-,. Western J.l...
+ has given the bears considerable uus4;i
5 ness. They say thar everything is as,a::ls
/ the stock, and they do not see why ( >
5 fuses to GO down. Bulls on the stock ar
3 pear to be pleased about something, ani
f shares in v es cf 81 m thibg likely to hap
pen. Anything dist nc1y f;v,rable to ths
9 stock would be likely to produce marked
Q advance, as there is shyr. int crest esti
!, mated IN excess $4,000 ,al.s>