Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-28
NEW YORK.
TSreciol ToloUru

Especial Telegram to the Globe.I
NEW YORK, Oct. 27.-A dull but strong
market gave the bulls much comfort. They
need comfort for while most. operators are
sure that the movement Of prices is favor
Orable to bull market, confidence is still
weak, and operators are ready to run at
short notice. The fact that prices are
maintained under such circumstances, in
dictate that the leaders are nourishing the
market either to bring in the public or to
get out good lines Of shorts. It is evident
however, that the leaders are not fully
agreed. Attacks on Denver and Northern
Pacific are not calculated to secure
an interrupted advance in Texas Pacific
Good guesssrs say that prices will harden.
and slowly advance up to the election, after
which another scoop is not improbable. A
large part of the buying has been to cover
short sales, and there are few stocks which
are lending better than the rate for money,
which shows that the short interest has
been reduced in an important way. Com
mission houses report that outside orders
are very scarce, and it is unquestioned
that the public are doing little in the mar
ket. Of the large dealers Mr.. Vanderbilt
Is bull, but not yet an
active one, although some of
his followers are trading actively. Prob
ably the most active speculator in the mar
ket at present is Mr.. Keene,he having the
credit of contributing moro to the advance
of the last few days than anyone, and of
having. started up the stocks of the New
York, Chicago and St. Louis nickel Plate"
line.
There is little doing in the Gould stocks
and the Willard stocks, while strong are
quiet. Even those who look for higher
prices later in the year are uncertain
whether this is the beginning of the rise or
only an intermediate turn. There is no
reason to doubt that Mr.. Vanderbilt is dis
posing of his holding Of Lake
Shore as fast as possible, it
being his intention, as we have
already stated, to divert as much traffic as
possible to the Michigan Central and
Canada Southern routes. The roads leased
to the Michigan Central are all doing a
good business, and the facilities of that
road have been increased in view of large
traffic demands. The Canada Southern's
route to Detroit will be shortened by the
middle OF November, which will greatly
facilitate the transportation Of through
freight In all probability dividend in
Michigan Central will be declared at the
beginning Of the year.
It is fact not generally known
that a majority of the stock
of the Chicago & Northwestern is
held by the Vanderbilt family and its i'm
mediate connections. It is rumored that
the Wabash and the Chicago s. Northwes-
tern railroads have combined whereby the
latter can use the Wabash bridge, and
through trains over both roads will be run
between st. Louis and st. Paul
Mr.. jay Gould, it is said, extended his
western trip as far as the Pacific coast
Wabash continues to be the subject of un-
pleasant reports concerning the finances
of the road. Bearish stories are aAoat to
the effect that Lackawana is likely to suffer
from the active competition of Erie in the
coal traffic. Insiders in Memphis and
Charleston are trying hard to inaugurate a
bull movement in that stock. It is said
that important developments IN regard to
the road are to be made within few days.