Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-21
New YORK.
Especial Telegram to the Globe. |

Especial Telegram to the Globe.
New YoEK, Sept 20.-Cross purposes be-
tween Gould and Vanderbilt, were plainly
shown in the course Of the stock market
to-day. The Gould following have re-
peatediy 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 Is that prices
must advance, and today 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 it. Vanderbilt
urges that the railroads now are
making ard must make largely increased
earnings, and that the country is prosper
ous TO degree. Gould is q bull ON the
long run, but bear for tho months Iof
September and October. 4 good many
people have leaned by experience that
when Goul9's position vas recognized it
was the part of wisdom to go his way.
Some of the ablest houses on the street are
taking precisely this view, ard are advis-
ing customers that stocks sold to-day can
probably be bought back more cheaply.
Tho great ally of the bears is found in the
money market The time has come when
money is naturally scarce. The drain TO
Boston, Chicago and st. Louis is incrsas-
ing. The southern movement is also set
ting in. Over $4,0o0,O0O have lately gone
to the Oil regions. The mercantile demand
is heavy and bids fair to increase. Il is to
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 Z strong syndicate. If
this syndicate chooses To make 10 per
cent. instead OF an per cent. rate it is diff
fcult to see what will prevent
Bulls to-day say that under cover Of a
great deal of barrish talk the Gould party
is buying stock; that Gould always buys
on weak market, and that pretty soon the
average trader viii discover that he has
been left again. Surprise is expressed
that the Missouri Pacific should
sell any lower than the prices of yester-
day. Vet q prominent operator says to-
day that the stock will be quoted at S1.O5
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 $1.O5 were understood to be
in the street, but broker in the stock says
the price will hardly go much below $1.O5
because of supporting orders near tsat
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 Is per cent. on the
stock. A large order to sell this morning
was credited to Ar. Gould. Telegraph
keeps well up--a strong undertow to the
market They say it is Gould against
Vanderbilt. Southwesterns did not move
worth q 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 good time
to buy. Everybody is still bearish on
Lake Shore. It wouldn't be surprising
to see the stock sell good deal higher.
yAX GOULD RETIsED FROM SPECULATION.
tWeste-n Associated Press.
new YoRK, Sept. 20.-The following
communication to stockholders attracted
considerable attention on Wall street this
morning: aFor long time the street has
asked when Jay Gould would be ready to
~bulI'' the market. The answer is very
simple, and am sstonished that some en-
terprising papers have not given it before.
1t IS simply, never. Mr.. Gould has already
retired as an active manipulation, a daily
operator, and will henceforth be more of
a large investor and looker-on; nothing
more nor less. Worth at least one hundred
million dollars and is about to become
president of the Western Union Telepraph
company, with the vast railway interest
that require his constant attention, what
other course is open to him? There was
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.I ee
DULUTH, Mimi, Sept. 90 Arrived
Propeller, City of Duluth, from Chicago.
25o tons merchandise; steamer Frances
Smith, Colhngwood, five tons merchandise.
Cleared propeller, China, 5000 barrels
fiour barge Wailula, Buffalo, $1,000 bush
els grain. This is the largest cargo ever
taken by one boat from this port,
The Comet.
WASHINGTON, Sept. 2O-Prof. Bass, of