Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-09-23

ing about s13.OOO,OOO is not impossible.
A theory has prevailed that there has been
very heavy buying Of the Northern Pacltics
under cover of raids in other stocks. Mr..
Slaybaek has hammered Northern Pacihc
common. Mr.. Nichols sold large amount
of preferred. The active traders have
spent most of their time in the stock
making turns on eighths mainly on
the short side. One of the larger traders
is reported short over 10000 shares OF
Northern Pacific preferred A large
operator said: The market LOOKS hAe
going lower, but conditions are unsettled.
4 vigorous rally in the Northern faclhcs
or any unexpected turn there might send
the whole list up several points. Person
alIv I had rather be short than long, in
fact I am short of Central Pacific, North
ern Pacific and New York Central. I hear
that the plan is to get prices OF about
per cent. all round. That would be about
the natural thing to expect after the rise
we have had, and have no doubt por-
ton. at least. OF the present bear party
would be willing to buy for & turn on
point drop"
There was rumor this afternoon of imam
cial trouble impending but particulars
have as usual been lacking. The idea that
the Goald-Huntingto party may be buy
ing control Of Oregon transfers gained
strength during the afternoon. 4 North
ern Pacific man says: I do not know
whether there Is anything IN the story or
not, but It is attracting considerable at
tention for q story without some founda-
ton IN fact. The volume Of business is so
large nobody can keep track of what Is
done. For ny own partI consider such
scheme entirely feasible for men like
Gould, Huntington and Vanderbilt. Mr..
Vanderbilt is supposed to be interested"
Certificates of Northern Pacific were
delivered to day signed by Mr.. Willard
dated Sept. Il and witnessed by Mr.. j.
I. Decker. The movement of the market
to day satisfies some of the largest horses
that a bear combination Of unusual
strength has been formed with the inten-
ton of entering upon bear CHAMPAIGN
to last well into the winter. They base
their expectations of success upon the alb
serc9 of the public, over-pCoduction of
securities, damage to winter wheat and
corn and on the belief that their financial
strength is greater than that of the tulI
interest in the street. A prominent
Broadway broker said of the Northern
Pacific report: The company make a
plain, frank statement of the fnan-
ciaI condition from which it Is clear
enough they have spent more money than
they had. I think that in the corstruc-
ton of LOO miles OF road it is quite
probable the estimates fell below the ex-
penses; indeed this is generally the case
in any similar undertaking. There are so
many Unforeseen contingencies that it is
impossible in al enterprise Of such mag
nitude to provide for them all. This being
the case, I do not regard the debt Of the
Northern Pacific as necessary evidence
Of bad faith or bad management. The
company state they have made provision
for the payment of the money
and it will probably be met by some fur
Their issue of securities"
The bewiIderment caused by the opera
tons of the, bears is well expressed in the
quoted opinion of prominent operator
supposed to be closely identified with
Gould interests. eve thought the bears
were discouraged said he, shut they have
shown astonishing vitality in the drive ct
the Northern Pacific stock. do not IN
derstand this attack. There are plenty of
rumors afoat, but nothing definite. In
my opinion there Is a strong bear com
binat1on backed by good deal Of money.
They have for their objective point one
or two rich men in the street
and under present circumstances these
men are so heavily loaded
with certain stocks they may find it diff
cult to resist the bear attack" Mr.. Gould
is reported as saying Missouri Pacific is
earning at the rate of Is per cent. on the
stock. Mr.. D. o. Mills says the Erie earn
ings this fall will be the largest in the his
tory of the company. 1t is stated Mr.. VIM.
Belongs holdings in his own name Ct
Union Pacific are 1000 shares. He is On
derstood to have had some time ago 10000
shares in his own name. Mr.. Sage says
people forget that Wabash is an improv-
ing property, and do not realize how close
" Gould is looking after its weIware