Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-10-27
The Share Market in New York Still
Very Strong.
THE BIG GUNS TAKING A HAND.
The Bears Too Timid to Enter the
Market to Amy Great Extent.
GRAIN AND PROVISIONS DULL,
Very Little Excitement and Transao-
tiOns ON Limited Scale.
NEW YORK.
Ispecial Telegram to the Globe. J

Especial Telegram to the Globe.
New YORK. Oct. 26.-On the stock ex-
change to-day prices at the opening were
somewhat irregular, and in most cases
lower than the close las. evening. A better
feeling developed later, and stocks showed
considerable strength. There was sharp
advance : n Minneapolis & st. Louis, COM
mon az referred. The chief trading ap-
pesred /. be in st. Paul and Oregon
Transcontin 4ntGi. The Northern Pacifcs
were quiet. 1t is now believed that the
holders of $50 000,090 of the preferred
stock are in favor of the issue Of the sec
ond mortgage bonds. There was quite
spirit in Canadian Pacific during the af
ternoon. The balance seemed to drsg,and
there was but little life to the market
during the greater part Of the
day. A break in Michigan Central dur
ing the closing hour caused Q weak feeling
throughout, the market becoming some
what nervous, and so continued No to the
close. The rallies were unimpo.t@nt, and
nearly all prices we're at about the lowest
for the day as the exchange closed. There
has been much mAreaveriug ny both par
ties, and the bulls n"y yeG make their
power feit, as tie saor. interest is not by
any masns eiimina ed. Tne earnings Of
the Chica 90 & Alton Tor the third week Of
October increased 5000 and the Missouri
Pacific system $4,000.
Kiernan says: The reported extin-'
guishment of the short ;ntere4t has result
ed in dull and Groopin market. The
opening was Irregular, some soeks selling
up aboTe last nights closing, while olEer5
showed J marked decline. There was,
however, no greot activity. After the first
hour the general tendency was to lower
prices. Michigan Central made bad
break soon after noon, and the other Van
derbilt's sold off il sympathy. The old
bear party attacked the Wizards, but not
with their old force and success. Union
Pacific also declined sharply. Canadian
Pacific and Minneapolis d st. Louis COM
mon and prsferfed showed handsome
gains daring Inc Gay. There are ell
Oliqued stocks, ana ara marken up by the
manipGIgtors TO attract attention and in
duce buying by outsiders. There were
several attempts TO rally special stocks
during the last hour, but they were
not sue .essful. Tbs close was weak. The
bulls may rally again tomorrow morn
ing, b7E the indications favor lower
prices"
Clew5 said. During the forenoon the
Offering Of large stocks was what vas the
matter. The bears wsre too timid to be
bold as sellers Later on the market
was uudsr a raid, and slumped of some.
The Twenty TnIrd street Traverse crowd
sold largely to-day. They re present bold
nest Of bears. The N 4rket is Influenced
entirely by the buying and selling At
present the former IS rather the most for
midable, and the sustaining power less
pronounced" About l o'clock leading
broker said: "The market is showing evi-
dence Of short interest being pretty we'll
covered up; other buyers ere now
wanted" The new turn in the market
makes seats higher n price and the seller
wants 30 get of ths same. Vanderbilt
continues to hold pretty good grip on
his stocks. He Will advance Lake Shore.
Mlcigan Central Is high enough, so Is Can
ada Southern and Nov York Central, but
Lake Shore is likely to rise.
Scranton said, The present grip is too
strong to let the market go down much.
Buy on weak spots for quick turns"
j. S. Kennedy S Co. say shat they have
no Information that the Canadian govern
mant proposes to give minimum dividend
guaranty to the Canadian Pacific. Pari-
ment does not assemble until December
and any money grant must be ratified by
parliament. Lackawanna looks like a sale
for O turG,"
Tho following roads show an increase in
earnings for the third week in October;
Kansas Il Texas, $20,50O; Texas Pacific,
$51,700; Wabash $2l, 100; Missouri Pacific
decreases $1,000.