Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-11-13
NEW YORK.
Especial Telegram to the Globe. |

Especial Telegram to the Globe.
NEW YORK, Nov. Ion the stock ex-
change this morning the operators for an
advance seemed to have it all their own
way and purchased right and left when
the exchange opened. Prices are well
sustained and there was q particularly
good demand for such stocks as st. Paul,
Northwestern, Delaware & Lackawanna
and Canada Southern. In the afternoon
hour there appeared to be considerable
realizing, which was quite natural and
prices eased off in consequence. The mar
ket, though at times quite
dull, was without any particular
weak spots. Oregon Transcontinental for
time was hammered evidently for the
purpose Of breaking the balance. The
short interest is quite an element yet, and
the pertinecity which the opposition show
in resisting attempts to depress may
cause US to be regaled with news items
calculated to weaken prices from day to
day. They must be taken with grains.
There was an excellent demand for Canada
Southern. In the last hour it was the CEN
ire of attraction. Pullman Palace sold
at 12315@123A, and there was a
transaction in Alton at 1874. Prices were
off some at the finish, but the market was
not weak one by any means.
At the close the market was much
stronger and prices will go higher if the
parties manipulating the advance play
honest and refrain from selling out on
each other, which they are likely to do on
the first indications of weakness. The
present reaction in Lackawanna is largely
due to the denial of rumor in railway cir
cles that this road is going into the pool
of the Grand Trunk. 1t is said in the
room there is Vanderbilt order in the
market to buy a block of Canada Southern
at Sc. Kirkner has turned bear and offers
New York stock in 1,000'and 1000 lots
The West Shore road will be completed to
Buffalo next Wednesday, and open for bus
mess one month later.
The Standard and Tidewater lines have
signed an agreement to pool their earn
ings. The interval between now and the
close OF the present unfortunate year, to-
gether with tho near approach OF the
meeting of congress with the prospect of
tinkering with tariff and currency ques-
tions, will prevent any great or prolonged
boom in stocks; so leading traders advise
taking fair profits and making quick turns.
One of the most 3urious things in the re-
cent bull movement is the report that
'Billy" Hutchinson has been taken into
the councils of the Vanderbilt party. It is
such q short time since Mr.. Hutchinson
was expelled from the stock exchange on a
charge of fraudulent practices in
the manipulation of Mr.. Duff's
cash and securities that there is
no need to remind readers of the charges
brought against him. Mr.. Hutchinson is
known TO be an experienced manipulation
Of stocks and the general supposition is
that the disappointments which the young
Vanderbilt party, are said to have had of
late, led them to the ides of asking him to
join them and ''boss the deal" The effect
upon European investors when they learn
that Hutchinson is an expelled member of
the stock exchange can certainly not be a
favorable one. The great care taken to mask
the combination and the fact that Mr..
Hutchinson's name is never mentioned by
any of the persons concerned cannot do
much good. Our inquisitive age unravels
much deeper mysteries, and aided by tele
grams and cables makes the truth known
quite as fast as the most dextrous manipu-
lstor will ever be able to put the stock
market up or down. The bright promises
upon which the steady rise in the North
western stocks was based consisted of
statement that s per cent. would be paid
upon common and 10 per
cent. on preferred and that
subsequently the long promised division
would be made of the accommodations in
the treasury of the company. It is also be
he7ed that the newly built branch road
Will be capitalized, and that share of the
profits of the operation will be given to
the stockholders. This statement was
widely spread in Wall street, and this fact
Is the weakest point about it, for why
should Mr.. Vanderbilt, who is said TO own
S1I,ooO,oo0 out of $22oOOOOO Of the
| preterred stock, and large
block OF the common, allow every
Tom, Dick and Harry of the board to get
IN aud share the profits with him. Apart
from that Mr.. Vanderbilt is By no means
so absolute master in Northwestern as
ne Is in New York Central or Lake Shore
for ne has two very shrewd and indepep-
dent railroad men with him, viz: Mess-s
Sykes and Keep. It is quite within the
range of possibilities that these men will
have as much to say about the cutting of
the melon as Mr.. Vanderbilt himself, and
as far as can be ascertained they are not
prepared for the operation Just now. But
that does not by any means reduce the
value of the property, on the contrary
from what has been learned it is Hkely
greatly to improve it.