Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-10
Omaha Leads the Advance in Granger
Shares.
WARNING ROADS SCORE A RISE.
Small Fluctuations and Strong Markets
in Cereals at Chicago.
HOG PRODUCTS SOMEWHAT WEAK.
Large Receipts of Perkers, and a Be-
lief i'm Lower Prices.
NEW YORK.
Especial Telegram to the Globe.

Especial Telegram to the Globe.
NEW YORK, Dec. S.-The weak element
this morning was Northern Pacific pre-
ferred. and a decline Oh it early to 93A,
rather demoralized the balance of the list.
which, though hesitating, showed signs of
considerable strength and inclination to
advance. The adjournment to meet Mon
day of the railroad meeting was known by
midday, and as on yesterday was followed
by improvement in properties interested.
the Omaha being conspicuous. The bank
statement also helped the situation, being
favorable. The reserve showed a gain of
$~3,6o0,OO0. The Vanderbilts, Burlington.
Rock Island and Illinois Central continue
dull, the activity centering in the
roads that are now attempting to
make a peace. Oregon Transcontinental
declared its first dividend of ~
per cent. to-day, a quarterly one. Mis-
souri, Pacific pays IL on January End.
Northern Pacific preferred is ex-11 Ito
scrip, and Union Pacific ex-1A cash.
There was much irregularity in the final
dealings. The Omahas were excited and
higher, while Western Union fell to 80, and
Union Pacific to 80. There was q pres
sure to sell the Northern Pacific proper
ties, SO much SO that preferred dropped
from 96B to S34, although most of this
is owing to its being ex-dividend. Com
mon is of q, Rock Island is up IS,
Northwestern at one time touched 134@,
but closed at 1887, a cent above its open
ing. st. Paul ranged between 1O34 and
1885, and closed at 1925, the fraction be-
ing its advance during the day. Omaha is
81 higher than it began the day.
While the gentlemen who nave the des-
TIMES of the Northwestern roads in their
august hands are fooling around, and ad-
journing and lettering, the stock market
is waiting their sweet pleasure. Intimate
friends of members of the conference said
this afternoon that the quiet meeting and
adjournment were very favorable signs.
They insist, however, that 10 one can fore
tell the result, and that there is no dispo-
sition to recede from the position each
road has taken. The only way in which a
settlement can be relched is by arbitra-
ton.
Broker in the granger stocks report
several large orders to buy, which orders
are suspected to have come from insiders.
The general impression among conserva-
tive houses is that the market will hang
until some action is taken. 1t is certain
that the conference was more harmonious
than was expected. The thing done was to try
to get at the purpose of each interest,and the
adjournmnnt is said en good authority to
have been to give time for the preparation
for a basis for consideration at the meet
ing Monday. An insider says that st.
Paul and Northwestern are working in har-
mony. They do.pot care overmuch about
the attitude of It'd Omaha, but wish to have
the Rock Island define its position. The
Rock Island has not shown its hand except
by inference of the action of the Omaha.
1t is considered essential that its action
should be foreshadowad. st. Paul will not
consider the plan of territorial division. A
gentleman speaking for the company said
last evening that the st. Paul would con-
slider a plan for pooling business at all
competitive points. Such a system had
worked well between tie ST. Paul and
Northwestern. It would be the same in
principle if the Rock Island was admitted
to the agreement. Ii such an agreement
was made. all building Of lines could be
suspended, and rates maintained until a
pool could be formed upon an equitable
basis. The feeling is that a number of
gentlemen have came a long
way to attend a meeting, they
have discussed preliuinaries in an AMIGA
bio manner, and they have adjourned for a
day. This tends to,vard an adjustment OF
differences, rather than from such a result
1t looks to-day as though the attack OF
Denver originated with Mr.. Keene. 1t wai
credited TO Osborn & Co. The house wa
undoubtedly a seller of stock, but there are
some indications that the Osborn poo
bought rather than sold. Mr.. Keene ii
said to have lately acquired Denver OF
puts. Somebody may have helped him tt
sell.
Milwaukee, Lake Shore & Western com
mon appeared to be sold down by insiderI
in order to secure cheap stock. 1t is said OF
good authority that considerable advance il
this stock may be expected, with an i'm
provement in the general market. Ii i
believed in some circles that new Wabasl
preferred stock will be issued, and tina
selling preferred, and for the present buy
ing common, will result ad~vantageously
The reason for buying common in thi
case would be that large purchases wouis
be required in order to cast the necessar,
vote, and that buying common was cheape
than buying preferred.
1t is stated that the floating debt of th'
Wabash company h8s been reduced to So,
1Uv,Vvvs 40 cvAlpau 0wMo securlI,o.