Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-06
NEW YORK.
Especial Telegram to the Globe. ]

NEW YORK, Oct. st will be interest
ing to know how the ST., 100000, Louisville
d Nashville stock is to be disposed of. If
it could be bought in a block it would,
with theecontrol of less than 10000 shares
of the,old stock, give the buyers the con
txol, of athe entire. property. Such dispo-
.sition, of the stock would make credible
some oof the rumors recently current
on Wall Street to- the effect that the whole
movement against this stock has been for
the purpose of securing control of the
most extensive railroad system in the
Southern States. sOne opinion on Wall
street is that an amount equal to the
1Eem authorization has already been sold
short in anticipation of the forthcoming
issue. There are no end of
prophecies concerning the course of the
raarkef,'' Cyrus W. Fields newspaper says
"Gould brokers continue bearish, saying
that reaction will come, and will carry
prices lower than heretofore. The general
opinion of good houses is that prices are
nearer bottom, and that good stocks can
safely be bought on reactions. The fact
that the Gould brokers have been right in
their bearishness has developed unwonted
confidence in their views. The result has
been that the average trader, hearing both
sides, is very much mixed.''
1t is intimated that Secretary Folger
will decide within a few days to make pur-
chases of bonds. The ablest people in the
streetargue that the only serious obstacle in
theway of a considerable advance in prices
is the lack of money. Should fair trea-
-suryrsqpply be insured, there would be an
amount of buying which manipulators
would scarcely try to resist.
Another authority said: sThe stock
market properly derives benefit, which by
and by must be felt, from the fact that
railroad receipts continue so large, and
that there is every promise of profitable
wintei's business, the visible tonnage being
large.It is also known that the policy of the
controlling managers is to keep up pro
ftable rates. The large foreign buying of
,our stocks is also favorable to firm
prices
About the only really strong stock
on the board today was Chesapeake l.
eahio. which went up on the theory that
it was somehow or ether to be benefited
10y the movement in Louisville d Nashville
@tRoom traders are bearish on Lackawan-
na;," said broker to-day, and another
said, 1.-The argument used against the stock
is dhat it ought not to sell higher than New
York Genital, which is four-tracked road
backed by the richest man in America, and
hastwo or three different markets for its
stock. twhile;the Lac kawanna has but one.'
Said a broker, speaking of Louisville
New Albany and Chicago: THE bullish
feeling on the stock has somewhat subsid-
ed upon clearsideas as to What the company
proposes to do. The contemplated issue
of stock is understood to
have been given up, and the
excellent terms on which vas proposed to
give the new stock to stockholders have
vanished The scheme of extending the
line to Cincinnati is also said to have been
| abandoned. A liEe to Harrisburg, thirty
six miles, Is said to be contemplated, but
will not be built now. This new branch is
understood to be in direct con6ict with the
interests Of the Louisville & Nashville com
pany and it is thought steps may be taken
to prevent its building"
| Aid. McCaz4hy's Reply to Capt. Clark.
To the Editor of the Globe:
In referring to the inter view concerning
my qualifications or fitness as candidate
for the Legislature. between Pioneer Press
reporter and Capt Clark, published in yes
terday's issue of the Press, I desire simply
To say. hat have been hefnre the n,a},lif