Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-11
ROADS SCORE A RISE.
HOG PRODUCTS SOMEWHAT WEAK.
Large Receipts Of Porkers, and a Be-
lief in Lower Prices.
NEW YORK.
Especial Telegram to the Globe. |

NEW YORK.
Especial Telegram to the Globe.
New YoRK, Dec. 9.-The weak element
this morning was Northern Pacific pre-
ferred, and decline on it early to 93a4.
rather demoralized the balance OF the list,
which, though hesitating, showed signs OF
considerable strength and inclination to
advance. The adjournment to meet Mon
day of the railroad meeting was known by
midday, and as on yesterday was followed
by improvement in properties interested.
the Omaha being conspicuous. The bank
statement also helped the situation, being
favorable The reserve showed a gain OF
S3.600,00G. The Vanderbilts, Burlington,
Rock Island and Illinois Central continue
dull, the activity centering in the
roads that are now attempting to
make a peace. Oregon Transcontinental
declared its first dividend of ~
per cent. to-day, a quarterly one. Mis-
souri, Pacific pays ~ on January End.
Northern Pacific preferred is ex-11 Ito
scrip, and Union Pacific ex-1I cash.
There was much irregularity in the final
dealings. The Omahas were excited and
hig her, while Western Union fell to 80, and
Union Pacific to 80. There was pres
sure to sell the Northern Pacific proper
ties, SO much so that preferred dropped
from s61S to sa4, although most of this
is owing to its being ex-dividend. Com
mon is off "a, Rock Island is up Is,
Northwestern at one time touched 134T,
but closed at 1887, cent above its open
ing. ST. Paul ranged between 1921 and
1887, and closed at 1925, the fraction be-
ing its advance during the day. Omaha is
81 higher than it began the day.
While the gentlemen who have the des-
TIMES of the Northwestern roads in their
august hands are fooling around, and ad-
journing and lettering, the stock market
is waiting their sweet pleasure. Intimate
friends of members of the conference said
this afternoon that the quiet meeting and
adjournment were very favorable signs.
TREY insist, however, that no one can fore
tell the result, and that there is no dispo-
sition to recede from the position each
road has taken. The only way In which
settlement can be reached is by arbitra-
ton.
Brokers in the granger stocks report
severa, large orders to buy, which orders
are suspected to have come from insiders.
The general impression among conserva-
tive houses is that the market will hang
until some action is taken. 1t is certain
that the conference was more harmonious
than was expected. The thing done was to try
to get at the purpose of each interest, and the
adjournmnnt is said On good authority to
have been to give time for the preparation
for basis for consideration at the meet
ing Monday. An insider says that St.
Paul and Northwestern are working In har-
mony. They do not care overmuch about
the attitude of the Omaha, but wish to have
the Rock Island define its position. The
Rock Island has not shown its hand except
by inference of the action of the Omaha.
1t is considered essential that its action
should be foreshadowed. st. Paul will not
consider the plan of territorial division. A
gentleman speaking for the company said
last evening that the ST. Paul would con-
slider plan for pooling business at all
competitive points. Such system had
worked well between the st. Paul and
Northwestern. It would be the same in
principle if the Rock Island was admitted
to the agreement. Ii such an agreement
was made, all building of lines could be
suspended, and rates maintained until a
pool could be formed upon an equitable
basis. The feeling is that number OF
gentlemen have came long
way to attend meeting, they
have discussed preliminaries in an AMIGA
BILE manner, and they have adjourned for a
day. This tends toyard an adjustment Of
differences, rather than from such result.
It looks to-day as though the attack on
Denver originated with Mr.. Keene. It Was
credited to Osborn & Co. The house was
undoubtedly seller of stock, but there are
some indications that the Osborn pool
bought rather than sold. Mr.. Keene is
said to have lately acquired Denver on
puts. Somebody may have helped him to
SELL
Milwaukee, Lake Shore & Western COM
mon appeared to be sold down by insiders
in order to secure cheap stock. 1t is said on
good authority that considerable advance in
this stock may be expected, with an i'm
provement in the general market. It is
believed in some circles that new Wabash
preferred stock will be issued, and that
selling preferred, and for the present buy
ing common, will result advantageously.
The reason for buying common IN this
case would be that large purchases would
be required in order to cast the necessary
vote, and that buying common was cheaper
than buying preferred.
It is stated that the floating debt OF the
Wabash company has been reduced to 81
100000. The company owns securities
considered to be worth 81, soc, 900, making
the floating debt but about 100000. Bear
points on Union Pacific have been as pro-
nounced as usual, but the buying has been
better. There has been reorganization