Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-21
NEW YeRK.
ESPECIAL Telegram to the Globe. !

Special Telegram to the Globe.
New York, Sept. 2O.-Cross purposes be-
tween Gould and Vanderbilt, were plainly
shown in the course of the stock market
to-day. The Gould following have re-
peatedly declared within two or three days
that Gould desires to lower prices, and his
stocks have acted as though he meant they
should decline. The Vanderbilt crowd,
however, has insisted upon It that prices
must advance, and to-day the Vanderbilt
stocks were very strong. Gould argues
that We must continue to have tight money
for some time to come, and that reaction
IN the market must attend 1t. Vanderbilt
urges that the railroads now are
making and must make largely increased
earnings, and thai the country is prosper
GUS to degree. Gould is bull on the
long run, but bear for the months .of
September and October. A good many
people have learned by experience that
when Gould's position WAS recognized it
was the part of wisdom to go his way.
Some of the ablest houses on the street are
taking precisely this view, and are advis-
ing customers that stocks sold to-day can
probably be bought back more cheaply.
money market. The time has come when
money Is naturally scarce. The drain to
Boston, Chicago and st. Louis is increas-
ing. The southern movement is also set
ting in. Over 100000 have lately gone
to the oil regions. The mercantile demand
Te,E hi c fnI 90 t.
be remembered that the bank reserve is
below the legal limit, and that the banks
must improve their condition by reducing
loans 1t is said that large sums have
been borrowed by a strong syndicate. IF
this syndicate chooses to make a 10 per
cent instead of an 8 per cent. rate, it is diff
fcult to see what will prevent.
Bulls to-day say that under cover of q
great deal OF parrish talk the Gould party
is buying stock; that Gould always buys
on a weak market, and that pretty soon the
average trader Will discover that he has
been Left again. Surprise is expressed
that the Missouri Pacific should
sell any lower than the prices of yester-
day Yet prominent operator says to-
day that the stock will be quoted at S1O5
this week The reason alleged is that
Gould IS purposely depressing prices to
reach drop orders. a couple of large or
ders TO sell at S1.05 were understood to be
in the street, but broker in the stock SAYS
the price will hardly go much below S1O5
because Of supporting orders near taat
price. The stock is generally recognized
as being cheap at present quotations.
The figures which Gould prepared for
himself, said one operator, show that the
earnings exceed ~ per cent. on the
stock a large order TO sell this morning
was credited to Mr.. Gould. Telegraph
keeps we'll up-a strong undertow to the
market. They say it is Gould against
Vanderbilt. Southwesterns did not move
worth a snap. Views from New York were
conflicting. Erie ought to be good pur-
chase at these figures. When they get
strong sell them for the next reation.
What in the name of all that is good has
got into the Central Pacific? May be the
fellows who did go out will be sorry they
didn't stay in. When things and every
body get bearish it might be a good time
to buy. Everybody is still bearish on
Lake Shore. It wouldn't be surprising
to see the stock sell good deal higher.
JAY GOULD RETIRED FROM SPECULATION.
Western Associated Press.
NEW YORK, Sept. 2O.-The following
communication to stockholders attracted
considerable attention on Wall street this
morning: @For long time the street has
asked when Jay Gould would be ready to
%bull'' the market. The answer is very
simple, and L am astonished that some en-
terprising papers have not given it before.
1t IS simply, never. Mr.. Gould has already
retired as an active manipulation, daily
operator, and will henceforth be more of
a large ipvestor and looker-on; nothing
more nor less. Worth at least one hundred
million dollars and is about to become
president Of the Western Union Telegraph
company, with the vast railway interest
that require his constant attention. what
other course Is open to him? There was a
time when his whole time and attention
was given to accommodating. Now his
whole time and attention are demanded by
his accumulations. You ought to have no
difficulty In proving the truth of my asser
ton. The quicker the public understand
that Jay Gould has retired, the quicker the
bull movement will go on without him"
Port of Duluth
Especial Telegram to the Globe.
DILUTE, Mimi, Sept. 90 Arrived
Propeller, City of Duluth, from Chicago.
300 tons merchandise; steamer Frances
Smith, Collingwood, five tons merchandise.
Cleared-propeller, China, 5000 barrels
hour barge Wallula, Buffalo, 900 BUSH
els grain. This is the largest cargo ever
taken by one boat from this port,
The Comet.
WASHINGTON, Sept. 2O.-Prof. Bass, of
Dudley Observatory, Albany, believes the
comet we now see near the sun is q retrrn