Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-07-13
NEW YORK.
Especial Telegram to the Globe. |

lOPCOlo1 4CACSIdA W LuC 0IOUcsI
New YORK, July 1.-THE situation in
Wall street changes but little. Prices were
irregular in the early dealings, some
stocks opening trife lower than they
closed last evening. In the afternoon there
was an improvement all around. The
properties which were sold so freely yes
terday rallied quite sharply. This was
caused principally by the covering of
short lines, there being no signs of any
decided buying by the bulls, and after
short squirt prices again yielded, leaving
stocks about as they opened in most cases:
Delaware & Lackawanna did not with
stand the pressure and disappointed its
friends, selling down from 1861 to 124B.
Canadian Pacific declared its first divid-
end to-day of 211a per cent. 1t is called a
semi-annual one. The stock was quite
steady with but very little doing in it. For
the first week of the present month
Wabash earnings showed a fallingloff of
ST., 900 and Manitoba decrease of $4,000
The market was very quite at the last,
without any indication for anything much
better tomorrow. Every day, however.
the professional bears swing the story of
an impending trunk line was for all it is
worth. The situation hardly warrants it.
A number of small and insignificant rail-
roads have been splutteaing because, when
the biscuit was cut they were left without a
crumb. They have been threatening all
sorts of vengeance, but as yet nothing but
froth iS Tho
Der of false stories to depress the market,
one of them being that Mr.. Gould had
sailed FOR Europe, and that he would not
provide for the Western Union dividend.
Another was that his brokers had been
heavy sellers of the market. Ma. Gould
was down town as usual to-day, and it was
said on good authority that he will not go
to Europe until fall, as has already been
announced. A friend of Mr.. Gonld states
that neither Mr.. Gould nor his immediate
friends can be induced to take an actual
part in the market. Mr. Gould has his
stocks and proposes to hold them. His
plans are laid for a European trip this
year, and he will not renew active business
III IIIo JlSont1lLSs liz Is d D6l1efSC III
better prices for stocks, and is content to
wait.
Anactive trader said this evening: "There
is good deal said about such men as Mr..
Bell, Mr.. Kirkner and Mr.. SlaYback inter
fering with bull market The fact is just
here; these men happen to be in the cur
rent of events, They are on the right
side; therefore, they have power, otherwise
they could not interfere with the bull eff
forts of the Morgan-Smith-H utchinso On
party for week. Ask almost any COM
mission broker doing large business, and
he will tell you that his customers sell
whenever they can do so at a profit, but
are very slow in buying back their stocks.
In other words, there is slow but steady
liquidation. There is money enough in
the country. People would be just as dis
posed to speculate in stocks as ever if they
were engaged in speculation. The trouble
lies in public inertia. There is no outside
speculation movement. 1t will come
again, but we may see considerably lower
range of prices first"
Louisiana Baptist ColOred Convention,