Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-22
NEW YORK.
Especial Telegram to the Globe.

New YORK, Dec. 21.-The market has
presented holiday appearance from the
opening. A little squirt in the Northern
Pacific was about the only sign of life Wis
ible. Lower prices, as a general thing
were made during the morning hours, fol-
lowed by slight Improvements later in the
day. Minneapolis & st. Louis displayed
considerable weakness and sold at 1891, a
decline of per cent. from yesterday
Since the settlement of the railroad war
holders have been free sellers of it. Pull
man was quoted at 125. There has been
some buying of Illinois Central at 145
and above by insiders. Michigan Central
is reported as having earned about 4 per
cent. on stock in the past three months
and Lake Shore for the year 9 per cent.
Business on the latter, both East and West,
continues heavy. Oregon Transcontincnt-
al is quoted ex-dividend ~ per cent. The
closing was very tame, with an easy money
market which seemed to exert no influence
whatever. Traders and commission houses
alike have carefully refrained from the ex-
preston of opinion as to the future move
ment of prices. There is general feeling
that the market acts tired, but bears do not
see evidences of weakness much more
clearly than bulls perceive
signs of strength. A dull
market, however, is extremely apt to afford
somebody an opportunity for a drive
which precIpitates decline. Brokers sup
posed to have Gould information look for
reaction of considerable size before the
January rise begins.
On the news of the death of Trenor W.
Park, yesterday, Pacific Nail declined, but
was bought by those who knew that Mr.,
Park held none of the company's stock.
The block of 10000 shares known to be
held by Mr.. Park, was last week transferred
to we'll known Broad street house. An
other effect of his death was to depress Erie,
upon which Mr.. Park had puts out
on 5000 shares. The report was that these
contracts would be ignored. Later it was
made known that Mr.. JAS G. Mills would
guarantee all Mr.. Parks privileges in
Erie. His death, it is thought, will be a
severe blow to the Mutual Union telegraph
organization, as he had so much faith in
the concern that he backed it heavily with
his influence and money, even-so reports
run-to selling from 1000 to 1900
shares in the Western Union short of the
market. The advance in Western Union
was accredited to Mr.. Parks short interest
in the stock.
Insiders in Reading talk very confident
y of marked appreciation in
the price of that stock.
The plan prepared for submission
to-day is said to have received the ap-
proval of the strongest interests in the
company.
It has been rumored this afternoon that
arrang ements are in progress for advanc-
ing the price of Northern Pacific. Bull
points on the stock came from excellent
sources some few days ago, but later in
formation has been that action would be
delayed until after New Years. Houses
usually right have been buyers to-day .sThe
rumors of the consolidation of Missouri
Pacific with Wabash probably arose from
a plan Under consideration by which the
two companies may be put under one
management. There is not likely to be
anything in the nature of consolidation or
lease, but an agreement by which perfect
harmony ,of action will be Sc
cured and working expenses decreased.
The arrangement as proposed will be ben
eficial to Wabash and not injurious to
Missouri Pacific.
The speculation in Wall street has
lapsed into mere trading back and forth
between the members of the exchange.
The outside public is not doing any
thing of consequence, and the large
operators who have stocks are content
with exerting no more power than is suf-
fcient to keep the list moderately firm. It
is quite probable that this condition of af-
fairs will continue until after New Years.
when an effort will doubtless be made to
inspire the dealings with greater acticity.
It is q difficult matter to Judge to what
extent the public can be induced to
take part in the speculation. It has
invariably been plucked whenever it has
done so hitherto, and it has not the stay
ing power that it had two years ago, or
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