Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-10-05


been reached, but it is reported Gould aud Sage
viii shortly come into the Northern Pacific
directory; that arrangements have been made to
issue blanket mortgage covering all indebted
ness; that Drexel, Morgan & Co., and Belmont
will take the whole issue.
Canadian Pacific earnings the fourth week OF
September increased $4,000; Rochester & Pitts
burg earnings, $4,000; Chicago, Burlington &
Quincy earnings for the first seven months,
S2,0OO,000
Northern Pacific people state Oregon
has not sold one dollar of its securities; that
a statement is being prepared of floating
debt, and plan for refundiug the same will be
announced in a few days, and no further drive
will be made against the stock and bull mar
ket will be started tomorrow.
The closing quotations Delaware & Lack
awana are ex-dividend of per cent. The feel
ing was better at the last, prices stiffened and
there was no pressure of stock. There is no
encouragement on the bull side and on rallied
sales will show profits rather than purchases.
The earnings of the Missouri Pacific system for
the fourth week of September increased $75, 900.
Oregon Navigation declared the usual quarterly
dividend of 21 per cent. to-day. The Oregon short
line is to list s., SOC 900 of consolidated mortgage
bonds and increase the capital stock from $4,-
000, ,000 to $12, 2,000,0o0. The bears are reported
as standing ready to deal in these sursties as
soon as issued.
Clews says: ''The Willard properties have now
thoroughly established their reputation as leaders
in the dim past en- the uptrack and more re
Gently very decidedly in the opposite direction.
The holders of this once regarded ! proper
ties now stand aghast, and are asking what's
the matter? Their bank accounts can tell them
to their sorrow, and should teach them never to
put their trust in promises or new msthods of
fnanc.ering' I'll
The gossip by local brokers during the day was
decidedly bearish; that there was con-
fdence in the Willard properties; that the
depression in them had pulled down the
geaeral markets that D. o. Mills was selling
Oregon Trsnscontinental; that the bull party
were completely demoralized; that the bears
have plenty OF money and are well organized;
that Willard would soon be elected director of
Western Union; that w. l.. Scott had returned
from the West; that Scott said he had sod his
stocks before leaving and wouldn't try to bull the
market this year; that Scott thought that the
election and congress would not exercise a ia
vorable influence; that Osborne is suffering from
vertigo and has gore to Maryland
for fortnight; that Woerishoffer
was large seller Of Wizards and
Lake Shore; that the proposed trip Of Gould to
the southwest has a depressing influence; that
Mr. Sykes says the North Western company has
already sold 10000 shares of the company's
stock; that Pullman has secretly Equidated ex-
tensively; that J @. Mills believed the North
ern Pacifc's would 60 much lower; that Smith,
a larse holder, was selling Omaha freely, and
that the short interest in the market was largely
increased,
The effort reported to be made to have West
ern Union listed on the London Exchange has
not been abandoned. G. W, Field, jr., who is
now in London, has the matter in charge, and
Will endeavor, it is said, to complete necessary
arrangements during the coming week.
Willard says: ''The New York Central COM
pany has discharged the crews Of eighteen loco
motives. It is believed we are surely approach
ing great railroad war. Trade is very dull
with the coal companies and trouble is expected
between them. The Omaha company will list
$500 0c0 additional bonds fifty -four rnile5 OF
new road. The issue of these bonds will be fol-
lowed by the addition of a prsportionate amount
of common and preferred stock. 1t is denied
upon authority that there has been any arrange
ment between the Gould party and Louisville &
Nashville or other southern systems. 1t is now
stated as more than probable that the Gould
people will initiate legal proceedings that will
put both the Richmond & Danyille
and the East Tennessee interests on the defen
sive."
Herman says: "The present conspicuous posi-
ton of Northern Pacific draws attention to the
conflicting claims of the varions securities rep
resented that system. Certain holders Of pre-
ferred stock think it is time to assert What they
declare to be their rights under the plan of re-
organization. This stock was opened in ex-
change for the 7:30 bonds and other liabilities,
and was to draw dividends not exceeding eight
per cent. on net earnings. Tho first mortgage,
of course, takes the precedence Of
this stock, but there Is q lean
of 81, GOO, 900 from the Oregon Transconinental
made after the issue of preferred stock. HOLD
ers of the preferred claim to come in ahead |
of the loan, the scrip and everything except The
first mortgage. They appointed a committee
some time ago to determine how much was
due them on their holdings, and it is said the
rate was 3 per cent. Some of them nppea1 4
little impatient TO have definite action takgn,
and concerted movement is among the posi-
bilities.