Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-10-20
NEW YORK.
Ispac:al Telegram to the Globe.i

- H--- ~ 'lN SSIcEA OdJ Oll bIl6 SLOCh
exchange, al me session was mos. exclt-
ING through. Stocks were quite ir-
regular at til opening. Mr. Gould's
fa7orites, Missouri Pacific and Western
Union, received the attention of the bears,
ane we're evidently without any support.
While these were declining Northwestern
common and preferred we're advancing
with arspidity quite remarkable. Jersey
Central. which 7-eated so much commotion
yesterday, was very quiet, and only com
mapded E small premium for use. The
trading IL Delaware & Lackawanna was
quite feature, and the stock IVES among
the weakest. Northern Pacific preferred
was pressed for sale on sellers option.
Pullman Palace sold at 1859 6126.
The market became quite strong and
active between and , o'clock, with con-
siderable exc leEt. 4 scramble By the
shorts to cover caused sharp rallies. A
breaA ia Northern Pacific preferred later,
wi.r Elctuatiaus of and 2 per cent.
IL IS many moments, unsettled the balance
AMI declines followed. a report that Mr.
Vanderbilt had transferred to his name
some Is, eco shs as Of Northwestern du=
ing tle past few days helped the advance
in that stock. The efforts to force the
bears to cover II several properties have
been u-d6 to-day with much energy. No
evidences Of any buying of magnitude
from other or ters. Omaha earnings
during the second week in October in
crease1 $32 goo.
Day says: The market opened free
from excitement about the closing
figures, which were maintained for some
fifteen minutes, whsn considerable real
izing took place and prices were dropped
g trife bat bate: feeling soon prevailed
and every good thing on the list rose
higher than before. The dividend stocks
were very strong, especially Chicago, Bur
Iington d Quincy, New York Central,
North western, st. Paul, and Illinois Central
The Northern Pacific and Oregon were ex-
ceedingly feverish and while at times
showing considerable strength their con
dition was very unsettled, causing it to go
to 1855. At the same time Oregon was
pressed t. 3716 from which, however, it
gracefully rallied. During the forenoon
Jersey was very quiet. But 4 of l per
cent. was charged for use on 100 share
lots. L3ckawanEa was hammered to loss
Of 215 points from the opening figures.
This proved to be the turning point for the
day. By noon Northwestern common
showed an advance Of and the preferred
315. Al t.3O O'clock the common was 12O1a
and the praferrea 139I. This proved to
be the top. From this time the whole list
dropped of and the general feeling was
ons of uncertainty"
Kiernac says: we don't think the move
ment IL jersey has eliminated. The
transaction in stock yesterday amounted
to 10000 shares. The pool can make a
close corner IL 1t If they see fit. They
have ali the floating stock paid for and
locked NJ. Northwestern stocks are firm
ly hell md have been well brought down
for some time past. Money lenders who
should know said q few days since when
the stock was selling at 1.20 that those
selling Northwestern would have to be
squeeze1. The Union Pacific is another
stock that has been brought down and
may advance sharply. There Is no truth in
report OF trouble II the coal combination,
and there is a very heavy short interest in
Lacka9anns."
Baker says: the market opened fairly
strong, bat soon sold off little and become
feverish and irregular. The Willard stocks
seemed very weak. Lackawanna was sold
down b the bears and there was big
break il western Union and Missouri Pa
cifc. Pullman stock was quiet, but the
statement and he announcement of an
issue OF new stock IS favorably received.
Soon after noon il was stated that 1900
q, shared of Northwestern stock had
been put in the name
of v. H. Vanderbilt in the past
few dsys. This stock advanced sharply on
this, ard carried the whole list with it,
Northwestern sold at 120 ,, but reacted
someghst from this point. The close,
however, was steady at higher prices gen.
orally thaa the opening. There are many
who believe that a bull movement has
fairly begun"
There were bui rumors ahoat during
the day. Appointment banker said Re had
bought 1900 shares of various stocks fos
LONDON accoult, and other concerns we're
said to have b numerous similar orders.
It was intimated that gold would come
this way t1r3 week to pay for the
purchases. The general agent of
the Reading Coal and Iron company
said the coal trade was never better with
his people, ana they were still crowded
with orders beyond ability to produce, and
they saE no necessity of suspending min
ing operations before December 1. A
gentleman who called on Vanderbilt found
him comfortably at breakfast.
William Eudicott, Dr., one of the heaviest
holders of Oregon Transcontinental stock.
made statement of the condition of the
company. He says he had not given Gre
dence to the stories about it that we're in
circulation, but all the same he now unoffi-