Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-10-22

enormous difference between cash and regular
only partly represents the losses Of the shorts,
| in..s1luch as these FOR whose account the stock
had been bought IN under the rule made add
tioual sales in regular. This viii help the
movement which Is said to be contemplated to
make another squeeze on Monday. The theory
| thst those who purchased preferred stock for
| voting purposes in connection with the proposed
issue OF second mortgage bonds, would sell
some Immediately alter the closing OF the trans
| fer books is entirely at fault. The Willard
party, which includes several prominent bank
| H., nOases, it is said have determined to put q
stop 10 bear raids on their specialties and to-
days movement in Northern Pacific preferred is
advanced as conclusive evidence thereof Owing
to the great excitement attending the Northern
Pacif, rise, other movements were lost sight of.
1t is learned that some of the shorts in New Jer-
eey Central have tried to make private settle
ments and in some cases paid largo shares to Sc
cure stock. The general market ives irregular
throughout the day. The pressure to sell was
not severe but the market lacked support in the
early hours. The opening figures were about 4
81 per cent. below last nights closing. From
the first sales prices yielded until a decline of
H0IM per cent. was re orded, the weak spots
being Western Union Telegraph, Chicago, Mil
waukee q st. Paul and Missouri Pacific. Den
yer & Rio Grande and New York Central rather
finn. Late in the day the market in
proved in sympathy with the rise in Northern
Pacific preferred. Many shorts covered IN other
stocks, fearing squeeze. The advance ranged
from 1E@Gi$s per cent. New York Central sold
up to 1l411E, Western Union Telegraph to 7615,
Delaware, LackawgnDa & Western to 1I235,
Lake Shore to 945&, Missouri Pacific to 9iSl,
New Jersey Central to 8s1S, Union Pacific to
673S and Wabash to 3l}1 Near the close there
was a reaction, but in the final dealings the
market was again on the advance. Northern
Pacific preferred closed TX per cent. higher at
1914 cash, as compared with yesterdays closing
cash sale. as compared with last nights closing
prices Oregon Navigation is down per cent,
Oregon Improvement 8 per cent, Canadian Pa
cifc 135 per cent, Chicago & Northwestern pre-
ferrea ~ per celt., Chicago, Milwaukee & st.
Paul ~ per cent, Lake Shore l per cent,
Missouri, Kansas & Texas u per cent, New Jer-
sey Central l35 per cent. and Western Union
Telegraph q per cent Northern Pacific is up
Is per cent, preferred q per cent, Oregon
Transcontinental IS per cent, Wabash, st.
Louis & Pacific preferred per cent, New York
Central e per cent to 1147s, Michigan Central
"a per cent. In specialties Chesapeake & Ohio
second preferred rose ~ per cent, Bankers &
Merchants Telegraph Is per cent. Sales Of
stock for the week :, 1859, 73! shares, increase
of ,1S2, 566 as compared with the previous
week. Exports OF specie for the week $685., 1913,
a total of $l2, 500, ISL since Jan. against $43,
40l, l05 for the same period in 1882. Imports
of specie for the week s62S, 300, total of Sls,-
$50. l55 since Jan. against s3,80s,S47 for the
same period in 1882.
From the Commercial Advertiser: During
the last hour most intense itement prevailed
in the Stock Exchange in consequence of the
transactions in Northern Pacific preferred.
Thousands Of shares that had been sold could
not be delivered AID the brokers were COM
PEELED to have them bought in. At the board
naturally, the highest sort OF premium was de-
manded. The loss Will fall upon customers of
course. Il they can't stand it the brokers viii.
The highest price paid for stock was 1915 cash,
against g. regular Nay or premium of 1872:
per cent. 1t was expected that many houses
could not bear the twisting, bat up TO the last
moment 10 failure has been reported. The IN
finished list OF sufferers is as follows: 80
shar S, Robinson u Robinson; so shares, z.
Iapsley &; Co.; 800 shares, DittanViile & Co.:
sou shares, J. q S. Wormssd; 500 shares, j d.
II. Amory; 30J shares, ". Rogers; I,l0J shares,
W. Heath & Co.; 93J shares, j. II. BioodgOod &
Co.; 1U shares, Il. s. Elliott; zoe shares, VIM.
Heath & Co; go shares, ]. & s. Wor1nsed.
Stockorokers to-day pad as high as 1925 for
the use Of a hupdrsd shares on Northern Pacific |
preferred. These figures are unprecedented. !
The small premium rareing from 9Z1i per I!
cent had been charged in this stock in the early
part of the past week. Wednesday the rate |
was advanced 10 per cent and since that time
has varied mora or less to that extent. To-
day capped the climax. When stock Ioane1
at 81 psr cent considerable surprise was e1-
pressed. The short interest was known to be
very heavy aud stock necessarily was scarce,
what added to the particularveue of it to-day was
the transfer books were to close this afternoon.
The scarcity of stock In this market, and the
ease with which it loaned in Philadelphia, Great
ed in the fertile mind of General Coils, of
Coils d Levy, a brilliant and daring scheme to
improve the shining hour.'' He borrowed 1,5e0
shares fat in Philadelphia and began dealing it
out Oh the floor of the New York Exchange at
1890 this morning at rates ranging anywhere
from to 81 per cent In order to make his
deliveries good he directed Arnold, Of the Phiia-
delphia house, to charter a special train and
reach New York before 2:l5 O'Clock D. m. The
business was very risky. The failure to make
his deliveries good, and sastar detention
on the road was equally to be feared. How
ever, Arnold, with his valuable cargo, hurried
to the Pennsylvania railway Office at Fifteenth
ard Market streets and applied to General
Manager Thomson for a special train and q
clear track. An engine and baggage car were
PLACED at his disposal, and shortly before II
O'Clock the special train rushed from the sta
ton and was laundering OF its way to this city
at u rate of seventy miles an hour. 1t took only
hOUr and forty minutes m cover r,iias