Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-06-09
NEW YORK.

neuvering in Northwestern, which sold |
down TO 1926, buying orders appeared;
and the result was sharp advance in it to
above $1.35, the market becoming quite
activethroughoat. Western Union telegraph |
seemed to be supplied at about 81, and fell |
off to about SO during the afternoon.
Among the lighter properties Nickel
Plate was the feature, with good deal |
doing both IN common and pI eferred, each |
showing quite gain over Yesterdays hg- |
ures. Pullman creeps up steadily, and was
quoted at $1.294. The quotation
on Union Pacific is less the II per
cent. dividend. The market during |
the last hour was affected by considerable |
realizing, selling off from the highest fig |
ures, though not so much as it did yester-
day. The advance of the past two days
has been sufficient to tempt many holders
to take the profits offered. Texas Pacific
was weak in late dealings. The balance
of the list closed steady. The bulls still
keep control of the stock market, and
stand ready to help every indication of a
rise. They seem confident, and talk of
outside buying, good crops, large railroad
earnings, and a general advance in man
ner calculated to inspire confidence in IN
certain outsiders. They have had the
market to themselves largely. Union Pa
ciic advanced on buying supposed to have
been by the new pool in the
stock, but subsequently receded. There is
an impression that the price will be put
above par on this movement. The state
ment that the company will receive only
about $1,000 on account of the decision
authorizing payment for mail service IN
the non subsidized portion of road is a
mistake. The amount involved is consid-
cradle and $4,000 was the only amount in
volved in the test case brought on the Utah
& Northern line.
Traders have had large selling orders in
Reading, creating considerable doubt as
to whether the stock is being sold by in
siders through traders, or whether the lat
ter fraternity is going for
the eighth. The rumor in con-
nection with Reading is that the
company profess to lease the Lehigh &
Navigation property alta fixed rental
been one-third OF the gross receipts. The
new idea is understood be to give the
Reading control of the Lehigh & Susque-
hanna, then bridge the Lehigh at Allen
town, securing connection with the West
ern Pennsylvania railroad and obtaining
for the Reading very short through line
from New York to the west. There has
hoa l.
Chicago account. It was reported that
Geo. Gould sailed for London in the Abys-
sinia, taking with him a large amount of
Western Union stock to be employed in
connection with the listing of Western
Union on the London exchange. The
amount taken was stated all the way from
10000 10 $4,000 shares. Nr. Gould denies
the story, and says the rise is due simply
! to the fact that the company's large earn
ing are just beginning to be appreciated,
and that the street has discovered that very
little stock is afoat, most OF it having
been absorbed by investors. The general
impression has been to-day that the
market would react, and many commits
sion houses have advised realizing.
Traders almost universally talk reaction,
but say they will buy stock whenever
prices appear weak. Commission brokers
report a moderate increase in out u town
orders to buy, although it is very evident
the public is comparatively little in the
market.
Especial Telegram to the Globe
New YORK, June S.---The street to day
was full of rumors relating to the stock of
Western Union Telegraph company, and
in consequence the stock became very
active. A statement was made on good
authority that J. S. Morgan & Co., of Lon
don, had accepted the agency of the West
orn Union company. Upon this probable
fact was builta huge pyramid of rumors
regarding proposed sales of a largo block
of stock in London. Some reports placed
the amount to be sold at 10000 shares,
and others put it as high as $4,000 shares.
A story was industriously circulated, to the
effect that Jay GouId's son George had
steaIthiIy departed for Europe with
valise full of Western Union stock, with
which he was instructed to flood the Lon
don market. It was stated
that young Gould had taken passage
on the steamship Abyssinia incognito. brit
inquiry soon proved that statement to be
untrue. Mr.. Morosi, one of George Gould's
partners, laughed when he heard the report
and said, ''Why, George Gould is in Omaha,
and has just sent home for lis breech-
loading gun to do some shooting" Mr..
W. E. Conner intimated that the stories in
circulation were all too absurd to be de-
| MED, and said there was nothing new in
Western Union stocks at present" Con-
sentative brokers poo.pooed the iGe:. thai
Jay Gorlj d sent his son to Europe to
dispc~ ind of So :
., ~
t. c3.rga-. ...-.
-bI veuo eeason to douoD,
-raa rae street, ''they are abunQantIy