Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-09-05
NEW YORK.
Especial Telegram to the Globe ]

stocks at the opening, and prices declined
and for time were trife feverish. About
the only thing the bears could do to furth-
er their ends was to report unreasonable
weather in the west. Inquiries soon es-
tablished the fact that there was no truth
in the rumors. The decline in breadstuffs
was sufficient in itself to upset any bad
weather reports. The market became very
dull during the middle of the day, but
stocks saowed considerable strength, and
there was confident buying Of St.
Paul. Brokers quoted the feeling
buoyant at about o'clock, and there was
large purch asing orders on the floor. In
the last hour stocks were strong and
active. st. Paul touched 10515, North
ern Pacific preferred rallied from IA to
| 754 The lighter weights were almost ne
elected to-day, and show but little change.
There was sale of Alton at 13315. The
earnings of the fourth week ia August in
creased $4,000, Northwestern during the
same time gained $97, 900 and Hannibal &
st. Joe $1,000. Louisville & Nash
vile advanced to 4815. At the
end stocks were all up to the highest
points Of the day as exchange closed, with
indications of going still higher. During
the last hour there was increased activity
with very good buying throughout the
room. There was very good buying in
Central Pacific all day. The grangers
we're the cards, and no better reasons for
buying the stock can be given than the
very large amount of grain moving. The
coalers we're only steady. Dur
ing the day Illinois Central was
strong and in good demand during the
afternoon. Gould stocks were fairly sup
ported. Michigan, Lake Shore & Western
earnings for the fourth week of August in
creased So, 700; Chicago, Milwaukee & st.
Paul earnings $71,SOo. st. Louis & San
Francisco earnings decreased $1,000. One
house during last week transferred TO-
600 shares of various stocks for invest
ment in odd lots. The time to buy is left
optional with them. This has been one Of
the strong features of the market for the
past week or ten days. Lake Shore
and Wabash were exceptions to the gen
eral course of prices, and each showed
weakness. It is conceded that negotia-
tions are entered upon which will prob
ably result in the Lake Shore operating
the eastern division of the Wabash on
some sort of a contract. 1t seems to be
the opinion of Wall street that both roads
will be damaged by such an arrangement.
Oregon Railway & Navigation company
was 131@132; Oregon improvement bonds
9O15@92; Oregon Stock 86@8S; Mutual
Union bonds 0124@822. The total sales
were 334, 400 shares.
The finances Of the Erie road for the
first time in its history are said to be on a
basis that promises to endure, and if its
progress continues favorable for a few
years, dividends on both classes of stock
issues are considered as likely to be made.
For the last five years and since its latest
reorganization the progress and prosperity
of Erie is declared to have been satisfactory
to both stock and security holders.
The short interest in Lake Shore is put
down at three quarters of the entire capi-
tai stock. 1t is not believed that more than
! 100000 shares of the stock are on the
street, yet the short interest is estimated at
between $35,000O00 and $40,0OOOOO.
So scarce is the stock for delivery pur-
poses that an instance is known where q
bona fide purchase was made on Wednesday
of last week and the delivery was not made
till Saturday, and only then because the pur-
chaser insisted upon it with the threat that
failure to comply would result with pur-
chase on the board. Even then six brokers
were clamoring to borrow that 100 shares.
The impression seems to be general that
| Oregon Transcontinental will issue bonds
Some even go so far as to state that they
know it, and that the bonds left the print
er's Saturday.
The strong front of the market to day
was added to largely by a telegram from
one who knows, which set forth that the
weather in the northwest was magnificent,
week, and will be 2.0OO,O00,0OO
bushel yield. Following this telegram
came from Saratoga, which reported Mr..
w. Il. Vanderbilt left for New York to
take up his fall quarters in this city. This
was construed as meaning that he would
act when on the spot on the very bullish
attitude he has recently taken in his ex-
pressions on the market. The outside
buying has been again large, thus showing
that this element has at last awoke from
the lethargio state which it has almost per-
sistently occupied for the past two years.
The very decidedly favorable change in
Wall street has led the way to general &C
tivity IN mercantile circles.
Merchandise to-day is reported as boom
ing, and general trade more active than
has been witnessed for very long period,
thus showing that the slumber of Wall
street was recognized as over which alone
was needed to awaken all the channels of
business and set the wheels in motion, ...
The future is certainly one Of great
est encouragement, and those that fail to
SO recognize it will be left by the wa ysiae,
"- "a ;sa4 - PARIS.
'7-i :s.se; -,.f 5.'- 80