Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-09-16
NEW YORK.
Especial Telegram to the Globe. I

DdC6s
which was not improved during the day.
Prices generally were better, and the tone
was very firm, but the support seemed
| to come largely from the short interest,
which is considered immense. The inter
est in the Northern Pacific stocks continues
unabated, and they were the only ones
showing any great volume of transactions.
The first few quotations Of these proper
ties were lower. Then there we're a sue
cession of nibbles, the prices. indicating
something of this nature: ''Now I want
them and now I guess I DON'T" but
the want appeared to be the stronger feel
ing, and as consequence higher figures
prevailed for while, dropping of during
the middle hours and closing frmer with
the rest of the list. There were scarcely
enough transactions in the other stocks to
determine whsther they were strong Or
otherwise.
The bank statement shows the reserve
decreased $749,075. Northern Pacific was
active all day. Prices at the close rallied
sharply and with good undertone. The
short interest is still large especially in
Northern Pacifics and Louisville & Nash
vile. The latter is becoming scarce
for delivery in consequence of the closing
of the books in few days for the annual
election. Mr.. Poor says he has not pre-
pared any statement concerning Northern
Pacific. This is another false report of
the bears disposed of.
1t is now generally believed that Gould
was caught by the frost in the corn belt
heavily long of stocks. He sustained the
market, even put up prices, in which ma
neouver he accumulated more stock but it
hasn't come. The reports of damage by
frost have grown worse not better, and the
public which last week began to buy stocks
this week have left them severely alone.
During the last hour there was a consider
able rally on prices, but no great
activity. Total sales were 182,2O9 shares.
The Northern Pacific TRANSFORMATION
route from st. Paul to the Pacific ocean
includes five companies under which the
operations of the system are carried on,
each being an integral part of the whole.
The stock and funded debt of these several
companies are as follows: Northern Paci-
fc $141, 900; Oregon railroad and
Navigation $25,O21, 900; Oregon and Cali
fornia $26,400,o00; Oregon and Transpor-
tation $47,215,000; Northern Pacific Ter
minal $6,000,O00. Total $245, 774,90O.
The Northern Pacific system, it is esti-
mated, must make an annual surplus over
operating charges, expenses OF management
repairs and Improvements of S14,746,494
or nearly $4,000 per mile of the road
in order to pay per cant on its stock and
debts. AS early as 1873 the mileage
of the road was GAG, the whole of
which, however, was not continuously op-
Grated until some years later. The gross
earnings last month made more favora-
bic showing, amounting to S5,430,3Os, or
at the rate of $6,S13 per milo, but this
was made up largely by the oompauy's
construction freights, which in 1882 we're
one-fourth of the entire tonnage of the
of the road, besides which it is learned the
company had e large floating Indebtedness
amounting to nearly $17,OOO,OOO.
1t was reported some weeks ago a divi-
dend of per cent. would be shortly de-
olared on the preferred stock, but it is
now understood no dividend will be paid
this year. 1t was said Gould has bought
$4,000 shares of Lackawanna within the
past few days, and had purchased literally
of Louisville and Western Union. Mr..
Evans, of the executive committee of the
Louisville directors, said the company was
earning per cent. dividend, and he be-
lieved the stock was purchase. M. o..
Mills was expected to arrive to-day from
California.
Bankers reported unusually large deal
ings in governments at full prices and the
general impression was that the first call
of $1,5000,00O of 3 per cents may be ex-
pected within week or ten days,
It was stated on authority that the New
| York Central earnings for the fiscal year
ending September 80 amounted to $780,
| 600 being the largest gross earnings on
| record.
Railway bonds were less active than they
have been for several days past, out al
though trading was light there was no de-
cline in prices. Chicago, Burlington &
Quincy, Iowa division As, were quoted at
84B@S6I; Chicago, Milwaukee & St.
Paul, Chicago & Pacific Is sold at LOS 4
and closed at 1851 bid; Dubuque divis
ion Is we're firm at 1.023S@1.031s; Chi
| cago and Pacific IS closed at 925s@92%;
Jacksonville Southeastern 6s were slightly
stronger at 921s; Wabash 5s again found
supporters, 1914 being bid for round lots