Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-23
GOULD & KEENE ON THE DROP.
A Better Feeling On the Chicago Board
OF Trade.
WALL STREET WILD.
Especial Telegram TO the Globe


NEW YoRE, Nov. 22.-The regular dis
patches will tell you something of the ex-
cltement and almost panic on Wall street
to-day, growing out of the railroad war IN
the northwest, but no one can adsuuately
describe it. When the excitement WAS at
lIs height happened to be in a brokers
ef1ce and the tape ruled off scarcely any
quotations save hose of Milwaukee 3 st,
Paui, st. Paul q Omaha, and Northern Pa
e1tle. Denver & Rio Grande Clipped in
considerable, e,andNorthwsstsrn occasionally
but the three first stocks named seemed
for time to monopolize attention in New
YORK. st. Paul went down with run.
touching 997s, while Omaha appeared
20 be braced. Porter, president of
the Omaha line.was said to be buy ing, and
some one was evidently tefriending that
stock. for counted ton sales aggrep ated
2.5o0 shares with a variation of only
quarter OF cent. When the market
strengthened it was entirely on rer ort that
L
Chicago had terminated ar tHrt ARA 90 G.
Inenis had been made To ..rI, lat =.
There Is & sort of blind III, il, New l,rk
that Vanderbilt will force q termination OF
hostllities because he is large holder of
Northwestern STOCK, and when it lecame
known that Keep & Eugitt ere on their
10
became sure that things he'd p.eu fixed
Keep d Hughitt reached the Windsor hotel
this evening, but declined entirely to talk
tonight. They evidently wish to post
themselves before expressing an opinion.
L found II. H. Porter, president of the
Omaha road, much more interviewaba
than be usually has been in st. Paul. He
said he knew of no overtures for q cessa-
ton Of hostilities. and could rot say what
the probabilities are. The war might last
one year, and it might last two. In re,
sponse to my question ~ to the cause OF
the rumpus, he said that it arose from the
aggressive policy of the Milwaukee & St.
Paul road. That road had declared
It's policy to be to occu-
py any territory that they
pleased which they thought would pay.
This they had right to do. and they wers
shrewd, sharp men. bat they might over3o
the matter. They invaded tho territory of
the Rock Island road, and that led the
kock Island to secure line to St. Paul
and Minneapolis. which interfe;ed with
tie Omaha. He, (Portsr) did not want the
Rock Island to come into st. Paul, but he
could not blame them under the circum-
stances. The Milwaukee road, he said, was
cutting around and across ST. Paul in every
direction. They had made cat off from
Saltwater to Hastings. They had
also arranged to draw as
much of the lumber trade as
they could from Eau Claire to their line at
Wabashaw. It was the policy which he
conceded they had right to pursue which
had led to the war, and the other roads had
been forced to take suoh steps as might
make the Milwaukee people think their
policy was mistake. He had no propo-
sition to make for settlement of the diff
cuities, and did not know when or how an
adjustment could be reached.
While was having this talk with him
the street was settling the whole thing, and
when left him and locked at the tape
again I found that during the fsw minutes
of our chat, StPaul stock had advanced
nearly three points sn the strength of
report that the war was ever. This shows
upon what shadovy foundations Wall
street makes it's ups and downs.
The evening papers gave currency to a
report that the attorney general of Wis
consin will be asked to precsea for the re-
moval of the Omaha directors. on the 1
ground that they are .quandering the prop
erty Of the stockholders they represent, in
order to speculate in Wall street. This is
undoubtedly fictitious bull story. What
will happen tomorrow Is unsafe to pre-
dict. bat unless there is yesl prospect of
settlement, or lies are made very plausi-
BILE, further decline is inevitable. am
willing to predict one thing, however, and |
that u t'lat tias r.sinnte resa.t of az: this t