Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-10-28
NEW YORK.
Especial Telegram to the Globo.l


New YoRE, Oct. 17.-It vas a lively day
on the stock exchange, with The bulls well
IN possession of the market. Substantial
advances in prices were established all
along The line. The market opened about
as it closed, and the tendency was to lower
prices on realizing by the longs and some
short selling, Michigan Central seemed
especially weak, and SO did Union Pacific
and Oregon Transcontinental. Canada
Pacific showed the most activity. It is
manipulated stock, and the special
brokers' who deal in it have it ell to them
selves. They marked it up to-day regard
less of outside opioion, and the bears did
not think best to dispute its advance. 1t
will probably drop as suddenly as it has
advanced. About noon Michigan Central
stock was generally called in and made
scarce for delivery. It loaned at u pre-
MUM for use. About this time, also, the
report was circulated that the Grand Trunk
were trying to get control of the property.
These influences caused sharp advance in
the stock, and the whole list followed
The result was high prices all around with
a small reaction just before the close.
The bank statement is unfavorable in a
decrease of the reserve of s29O,325. Il
ia now $303,220 below the legal require
nent. The gains to-day were Michigan
Central rs, Minneapolis & st. Louis 3,
Canadian Pacific 33s, Northern Pacific 1,
preferred 1 Is, Lake Shore ~, and other
good stocks showed pains
Worthington said. Canadian Pacific was
about the only feature. Trading was con-
fined to room traders, who are satisfied to
take one quarter profit either way =
Clews said: s'The Woerishoefer crowd
were tie big sellers this morning, and
prices are destined to go lower before
another turn can bs made against the
shorts"
The examination CT the Willard has been
referred 10 the supreme court. This puts
it off indefinitely.
About 100000 gold arrived from Europe
to-day.
A large block of Michigan Central has
been called in by Hamilton & Myers, said
to be for friend of one of thu younger
Vanderoits.
4 Montreal special announces On au-
thor.ty of the vice president that the Cana
dian government has agreed to guaran-
tee 3 per cent. on Cana
dian Pacific stock. The company
hes given the government an equivalent
for the guarantee.
Scranton says: 'The bulls have come
to the rescue, but not in a very fierce style
as yet. The rally will be met with long
stocks, SO the rally won't be of long dura-
ton. Michigan Central is pre- emlnently
the present leader of the market. The
Mackey postal telegraph men are selling
Western Union. The Western Union is
going to issue another pamphlet to the
public to try and influence investors to
come in and buy il AMI release Gould of
part of his burdensome load. If he were
cut Of it he would be on top of if, and the
price would now De about 60. r. P. Flower
& Co. sold a good deal of New York Cen
trail through their brokers'"
Ciews said: "rhere is no Disgusting
the fact that there is strata of greater
confidence aud elasticity, possessed by
mostly all the active stocks than existed
previous to the recent advance, but il is
self-evident that the bears are now COM
parativelY tame, made SO By their claws
and teeth having been recently well filed.
A continuation of both bull and bear sides
will still exist notwithstanding, and Wall
street remain just where it is in the future
as in the past. History will repeat itself
80 that we will continue to have lively
fluctuations each day, which will be many
of them large enough to be worth while for
operators to gun for and that kind of
trading we recommend for the coming
week at least"