Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-28
NEW YORK.

NEW YORK.
Especial Telegram o..the Globe
New YORK, Dec. 27.-There has beer
more lactivity on the exchange to-day
Denver managed to regain about 2 PEI
cent. in the early dealings, but the balance
OF the market sold off, and as genera
| thing prices were lower than on yesterday
Western Union dropped below 81, while
Mutual Union rose to 25. Missouri Pacific
though the earnings for the third week in
December, including the Missouri, Kansas
q Topeka, Iron Mountain & International
show an increase of s154,0OO, declined to
S1.O11s, and was very dull. Louisville &
Nashville and Wabash gained over $50, ,OOG
each for the same time. st. Paul touched
$1.O675, and has been comparatively
steady Its surplus for the year, it is ex-
pected, will amount to about $2,OOO,OOo.
1t has been a brokers' market nearly
all day. Many stocks sold in the
morning were covered during the closing
hour, which impaired: ed::considerable strength
to the final dealings, and carried some
stocks. above yesterdays closing figures
Money has been more active at pe1
cent.
The decline was a continuance of the
decline of last week, which began as a re.
suit of diminished earnings, and though
the decrease stated is larger in the pub.
lished figures than in realty, there has un-
doubtedly been an important decrease
which is understood to be the result of di-
minished business in the mining regions OF
Colorado generally. On the other hand,
it is believed Denver & Rio Grande will
be completed to connection with the
Central Pacific within three months, which
would give it new increase of traffic.
Holders Of Western Union were agree.
ably surprised by receiving checks for the
dividend payable Jan. Is. The litigation
againstithe company may have had some
thing to do with this unexpected liberality,
or the giving of twenty days interest may
have been an expression of Christmas
cheer. The receipts accompanying the
checks were little peculiar, requiring the
recipient Of the dividend to refund the
money in case it should be declared illegal
by the courts. The advance payment was
construed by some as an indication that
the company expected an injunction, and
there was on this account considerable re-
alizing.
Brokers supposed to have Gould in
formation advise buying the Wabash.
Points to buy the common have come
from excellent sources for ten days, but
the preferred has not until to-day been
mentioned as likely to have much advance.
There has been same good buying of
Wabash general mortgage bonds. A bond
expert says there should be rise of nearly
ten points in most of the Wabash issues.
The company has not begun to move the
heavy corn crop. When the movement
begins earnings will show very large
| increase over the light earnings of last
year.
1t is stated on good authority this after
noon that cable order to sell
100000 of Erie seconds within about one.
half of 1 per cent. of the market
resulted in the sale of only $4,000 of the
amount. If large block of Erie seconds
is coming upon the market there will
scarcely be any immediate advance in the
price.
Conservative brokers look for sustained
market this week on account of the larger
number of puts expiring with the year
Heavy lines of puts on Western Union
Missouri Pacific, Lake Shore, Erie, and
some other stocks are reported in the
street. The weakness of the list this after
noon is thought to have been on Osborne
selling. Rumor has it that insiders in thu
! Osborne combination found themselve!
with line of stocks larger than was pleas
ant, and that they have been selling.
Some of the German party look for {
renewal of the bear movement. The heat
of prominent Broadway house said thi.
afternoon that the big men still had ths
stocks and that while they held them thu
market would be dangerous for small
| operators,