Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-18

ended the day at 1914, although
at one time selling. Is higher. Omaha
opened at 573S and closed at 55S4. Mani
toba closed at 14t7As, or % lower than its
first quotation. The first sale OF Mime
apolis & St. Louis was at 80, the last at
31R. Nickel Plate started out at 333a
but lost the fraction and cent to boot.
from los. There was less activity and
excitement than on yesterday, but the
buying for the long account reflected con-
fdence, and some of the brokers reported
more orders for stocks from outsiders.
The early strength of the market indaced
number of belated bears to cover, and,
in some instances, to shift their positions
to the ball side. The causes heretofore
mentioned as operating to produce i'm
provement are still at work, and seem to
be taking root with the general pablo.
Nothing but a constant, unfaitering and
persistent push upward in prices can IL
vite and secure the assistance of the out
side pubic. As things look at present the
SUCCESS or non-success of the movement
rests upon the shoulders Of Mr.. Vanderbilt:
who is unquestioaabIy the only great out
and-out bull in the market. Mr.. Gould
may pretend to be one and so may Mr..
Keene or Mr.. Smith, but it is unquestion-
able that each of these gentlemen would,
without hesitation. dump his holdings
upon Mr.. Vanderbilt should the market
afford an opportunity for doing SO at a
profit. From present appearances II would
look as though NJ. Vanderbilt would
shortly own everything in the shape Of
railway securities.
The advance in Union Pacific yesterday
has been due to the covering
Of shorts ana not to the buying Of any pool,
as has been rumored. The fact is that
owing to ths somewhat cloudy statements
in regard to earnings and the uaskilful
management of its recent proposals for
borrowing money to pay off the floating
debt, etc, there was a distrust created in
regard to The stock. which seems to have
not been warranted by the real condition.
But the feeling induced good deal of
short selling, which has to be covered now
that the general market has advanced. and
confidence in Union Pacific in particular
has in measure been restored. The deal
in Pacific Mail progresses among few
prominent individuals who are each largely
Interested, but the public, outside of
these few. is not trading in stock
largely. It is estimated, however.
that complete change in the ownership,
control and connections of the Pacific
Mail is one Of the probabilities of the near
future.
One of the topics OF conversation on the
streets was that of the likelihood of the
Cleveland, Columbus, Cincinnati & Indian
apolis, tho Alton & Terre Haute, the Nickel
Plate and the Lake Erie & Western road
are to be made one through an indepen-
dent line from Buffalo to st. Louis con-
trolled by the same management. The
younger Vanderbilts are given the credit
for maneuvering the scheme, and are rep,
resented as being buyers of these stocks
which have assumed considerable promi-
hence and activity and shown much
strength. There has been some selling OF
Western Union to-day, and the belief that
pending litigation would result in lowe,
prices for the stock. Information from
Gould sources has been that Western Union
would sell at So witain & few days.