Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-23
GOULD & KEENE ON THE DROP
A Better Feeling On the Chicago Board
or Trade.
WALL STREET WILD.
Especial Telegram 10 the Globe.

Especial Telegram 10 the Globe.
New YoRK, 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 u
the northwest, but no one can adsouately
describe it. When the excitement WAS ut
lis height happened to be in brokers'
ef1ce and the tape ruled off scarcely anv
quotations save hose of Milwaukee J. St.
Paul, st. Paul & Omaha, and Northern Pa
slfie Denver Rio Grande Clipped in
considerable, ndNorthwsstsrn occasionally
but the three first stocks named seemed
for time to monopolize attention in New
YORK. st. Paul went down with run.
touching 99Hs, while Omaha appeared
10 be braced. Porter, president of
the Omaha line,was said to be buy ing, and
some one was evidently tefriending that
stock. for counted ten sales agoree ated
1000 shares with variation of onIy a
quarter of cent. When the market
strengthened 1t was entirely on rer ort that
the railroad war between st. Paul and
Chicago had terminated. or :s,t arra,,.e G.
ments had been made to ;.rn .!atc II.
There Is q sort of blind III, il. New l.rk
that Vanderbilt will forcs a termination OF
hostllities because he is a large holder OF
Northwestern stock, and when it iecame
known that Keep & Euglitt ere on their
way to New York from Chicago. the street
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.
1 found h. H. Porter, president of the
Omaha road, much more interviewab.e
than he usually has been in St. Paul. He
said he knew of no overtures for a 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,
Spouse to my question A. 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-
Ply any territory that they
pleased which they thought would pay.
This they had right to do. and they were
shrewd, sharp men, bat they might overdo
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 intsrfe;ed with
the 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 aeross St. Paul ia 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. 1t 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 such steps as might
make the Milwaukee people think their
policy was mistake. He had no propo-
sition to make for settlement of the diff
culties, and did not know when or how an
adjustment could b rsaehsd.
While I 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 tho fsw minutes
OF our chat StPall 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 its ups and downs.
The evening papers gave currency to
report that the attorney general of Wis
consin will be askes to proceed for the re-
moval of the Omaha directors, on the 1
ground that they are squandering 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 Ii uasafe to pre-
dict. bat unless there 10 yesl prospect of |
settlement, or lies are made very plausi- |
bic, further decline is inevitable. am |
willing to predict one thing, however, and |
that i t'ist the u.simnte sesa.t OF al; this !
- Is