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

lOPOOAoA ACACsA " tllc OlODos
New YORK, Oct. Sit will be interest
ing to know how the $12 100000, Louisville
q Nashville stock is to be disposed of. If
it could be bought in a block it would,
with the control of less than 10000 shares
of the old stock, give the buyers the con
troll of the entire property. Such dispo-
sition of the stock would make credible
some of 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. One opinion on Wall
street is that an amount equal to the
new authorization has already been sold
short in anticipation of the forthcoming
issue. ''There are no end of
prophecies concerning the course of the
MARKET" 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 few days to make pur-
chases of bonds. The ablest people in the
street argue that the only serious obstacle in
the way of considerable advance in prices
is the lack of money. Should fair trea-
sury supply be insured, there would be an
amount of buying which manipulators
would scarcely try to resist.
Another authority said: 3The 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
winters 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 stool
on the board to-day was Chesapeake
| Ohio, which went up on the theory that
it was somehow or other to be benefited
by the movement in Louisville q Nashville
Groom traders are bearish on Lackawan
na,' said broker to-day, and anothe
said, 1.-The argument used against the stool
is that it ought not to sell higher than New
York Central, which is four-tracked roat
backed by the richest man in America, ant
has two or three different markets for it
stock, while the Lackawanna has but one
Said broker, speaking of Louisville
New Albany and Chicago: THE bullist
feeling on the stock has somewhat subsid
ed upon clear ideas as to what the compan,
proposes to do. The contemplated issu
of stock is understood t.
have been given up, and the
excellent terms on which was proposed t,
give the new stock to stockholders hav
vanished. The scheme of extending tn
line to Cincinnati is also said to have beer
abandoned. A line to Harrisburg, thirty
six miles, is said to be contemplated, bu
will not be built now. This new branch i
understood to be in direct conflict with tn,
interests of the Louisville g. Nashville com
pany and it is thought steps may be take
to prevent its building"
Aid. McCarthy's Reply to Capt. Clark.