Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-01
NEW YORK.
Lspecial TeIegram 70 the Glohe. ]


New YORK, Nov 30-There was some
thing of a better feeling on Wall street
this morning and prices on the exchange
improved in consequence. Had the pool
meeting only settled their difficulties we
might have had more activity. There was
considerable activity in Canadian Pacific
on & report that a syndicate of Grand
Trunk supporters in England would absorb
it eventually. The stock sold Wednesday
at 5615c and advanced to $3.50
to-day. Union Pacific, ST. Paul and Erie
appeared to be the favcrites during the
morning with fair business in them and
Cleveland, Columbus, Cincinnati aud IL
dianapolis made another of its spurts.
The market became dull durirg the after
noon though there WIS but little change
in values until about half an hour before
| the close when there appeared to be a
good demand for Vanderbilt, Grangers
and Union Pacific. Heavy buying of Read
ing deferred bonds by Philadelphia is re-
ported. There Is no change in the
general situation. There seems to bs a
growing feeling that the corn crop is badly
are in some cases willing to admit that
their former estimates were much above
the actual condition at present. This is
likely to have some effect on the railroad
earnings and liz view of the near session
of congress and vital questions affecting
business which viii al once come up for
discussion there is nothing to warrant
bulling stocks. At the same time
tAa -A,l Il
attention was called lew weeks ago, viz:
Stocks are in strong hand., we'll able to
carry them and probably the depression,
which undoubtedly exists in business, is
fully discounted In the price of securities.
The market, therefore, would seem likely
TO move in narrow limits .duriDg the in-
mediate future.
The bureau of statistics show up TO June,
1883, the exports excee5ed the imports
over $100O0O0O0 Vanderbilt is ;uofed
as saying he has bought some
shares in New York Central
lately and looks to see them hIghor.
Leading government brokers IN New York
are recommending the purchase Of ~
for 8 per cent rise. The leading note
brokers in New York city says the supply
of good paper IS very high and that dry
/ goods paper was never sounder than at
present.
The Burlington, Cedar Repids & North
ern railroad increased its earning during
the third week of November $500. The
| impression was quite prominent IN stock
ex-circles yesterday that the market
would be somewhat higher to-day and it
was thought would be fsvorably influenced
by the action OF the Iowa pool in adjourn
ing the meeting until December II, and
by the st. Paul roads extending the date
of withdrawal until January 1. The
special st. Louis telegram reports that the
lines west of the Missouri river hsve de-
cided to act In concert again and to-
morrow, December 1, joint freight rate
sheet will be adopted by the Union Pacific,
Atchison, Burlington i Missouri River
and the Missouri Pacific roads. Ar.
Dillon said that this freIgh. war
had positively sill been settled up.
The insiders in Erie confidently expect
higher prices for the siock and bond, aud
they talk 90 for the common by July next.
The Mills people say if the stockholders
would only stand firmly together the
prices would advance Immediately.
It is reported thst good deal of lent
New York Central stock vas called in on
Wednesday. Twombly borrowed of Blood
$500 shares for 1 81, supposed for delivery
on seller sixty days, just coming due.
One of the largest holders of
Reading has been in Philadelphia
to induce Gowan to withdrew his resigua-
sion but The latter made 10 sign. Gowan
says the Reading report for the year will
how over 6 per eent net aad hs = in r4vor
of making 3 per cert. dividend in Janu-
sry, but viii leave the entire matter With
the board OF directors 10 decide.
There is q rumor from Chicago this af-
ternoon that by Monday next there will be
Contract made between the Iowa pool
lines which viii cause serious trouble. and
new developments are promised
next week. Western Union has
been sold this afternoon on the belief
thst several new measures will be intro
duced IN congress next week in the inter
est of the postal telegraph company,
which viii offer great inducements to the
government to make sn exclusive arrange
ment with the company.
Dangerously III.
NEw Yokx, Nov. 30.-Hon. ]. M. Carey.