Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-03-22
NEW YORK.
Especial Telegram to the Globe.

Especial Telegram to the Globe.
NEW YORK, March 21.-The situation
on exchange remains about the same.
Prices yielded in the morning, being fol-
lowed by a slight improvement later in
the day. Union Pacific recovered to 9618
on reported increased earnings for the
first eighteen days in March of S1O6,0OO.
Manhatten Elevated sold from 40 to 4314
in forenoon. Fresh arrivals of gold are an
nounced, but not in quantities sufficient
to afford much relief. The closing was
irregular, some stocks trife higher than
on last evening, some lower. Manitoba is
81 better than the last sales of yesterday.
Transactions continue to be on limited
scale, with not much prospect tor any
thing better right away.
Money remains stringent, though rates
have been somewhat easier to-day. Some
of the state banks are almost hopelessly
below their reserve, and in view of the
April settlements some delicate inancier-
ing will have to be done to avoid disturb
ing the different elements.
Despite the cold wave and snow in the
West, granger railroad officials
are not apprehensive of any
serious blockade or suspension of travel.
Their earnings thus far in March,
are claimed to be simply marvellous, and
beyond all expectation. In the absence of
any information as to the blockade they
are hopeful that mona has occurred, and
that the high earnings will be fully main
tained.
Coal dealers are in a hopeful state of
mind over the bright outlook in their trade.
They report the demand far in excess of
that at this time last year, and the evil
dence of successful season with full rates
exceedingly encouraging.
Oregon Transcontinental has been COM
paratively weak, Notwithstanding the an
nouncement of the probable lease of the
Oregon & California road. Outsiders
appear disposed to think the lease disad-
vantage to the Transcontinental company.
Those having the best facilities for know
ing think it will be great advantage, and
will warrant considerably higher prices for
the stock. There has been some selling of
Western Union on account of the due bills
to be given in connection with the divi-
dend. 1t Is reported to-day that the Kan
sas & Texas company has offered
to guarantee the interest Of
the first mortgage bonds of
the Fort Worth & Denver City road, pro-
vided the control of the property is given.
The Fort Worth company just made a
contract for hauling 700 cars of cattle this
week and 1,20O cars next week. There is
quite bullish feeling in some circles on
Lake Erie & Western. The debt per mile
of the company is relatively low, and the
line occupies q position which makes it
likely to be contested sooner or later by
one of the great trunk lines. 1t has been
rumored that the Chicago & Alton, Bur
lington Il Quincy and Rock Island wanted
the road.
The general talk among brokers this af-
ternoon has been that the market was in
an unnatural condition quite liable to end
with a sharp break in prices. On the other
hand representatives of the bull interest
affirm that stocks have never been more
fully in hand, and that as soon as the
squeeze in money is over prices will ad-
vance very easily. They point to the fact
that few stocks are offered as an indica.
tion that the mass of operators consider
prices low enough, and had rather pay
higher rates for money than to run the
risk of having to pay higher prices fol
stocks. Conservative houses are some
what puzzled by the frmness of prices
and where two days ago they advised real
izing, they now suggest holding on until
the expected weakness develops.