Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-10-24
THE sHORTs TERRIBLY SQEEzED.
Belief that Willard Has Secured Enough
n. P. to Ratify the Second Mortgage.
CHICAGO MARKETS STRONGER.
Lard the Only Weak Spot in the Entire
Range of Trading.
NEW YORK.
Especial Telegram to the Globe. |

New YORK, Oct. 23.-It is Vanderbilt's
turn nov on the stock exchange. The
NortheFi "acifcs were allowed to rest to-
day, Will, tr. Vanderbilt's favorites were
brought IL front. Michigan Central
was the speo.al card. 1t appeared to be
heavily oversoId, and moderate demand
at first vas enough to cause sharp ad-
vance in it Central & Hudson, Lake
Shore L Canada Southern were among the
most active. St. Paul did little better
than yesterday. The Webashs and Denver
were neglected. The earnings of the latter
for the third week in Ootober increased
$4,000. Such properties as Illinois Cen
tral and Chicago, Burlington Il Quincy,
though very dull, showed an advancing
tendency and are sought after by
investors. The market has
been disappointment to the
free sellers of last evening. The Wander
bits were quite active at the last, and
there was good deal Of strength visible
all along the line. The lighter properties,
which were neglected early, were strong
and advancing at the end. The operators
for rise seem to have taken hold in
earnest,
EKiernan says: The market opened
steady, and soon showed az advancing
tendency, especially in the Vanderbilts.
Michigan Central was the feature. 1t has
been largely oversull, and the report that
W. II. Vanderbilt had takan up a large
number of shores at a5out 80, started cover
L. L.
rapid. Lake Shore, New York
Central and Canada Southern advanced
in 81 mpathy, and other stocks were sinil-
ally affected. The Gould stocks, however,
dragged suspiciously, especially Western
Union, which held small gains with diff
Guilty. Transcontinental stocks were
largely dealt il, but showed less strength
and less activity than yesterday, while
Northern Pacific was almost neglected. It
remained Arm, however, and lent without
premium for use. Foreign exchange was
weak, aud the bulls talked largely of for
eign buying of stocks and of imports of
gold.
The short interest is being rap
idly eliminated from the market, and it is
notable that the bears have been badly
scared for the time being.
1t remains to be seen whether the
public viii now come in and buy
stocks and help those who have started the
advance to sell at profit. The close was
strong a5 very nearly the highest point of
the day"
Ii was slated that Mr.. Gould, Mr.. Van
derblt. Mr.. Sage and others were in the
Oregon Trans-continenral pool. Gould
and Vanderbilt brokers agree IN predicting
much higher prices for the general list.
Gossip had it that Willard had obtained
sufficient preferred stock OF the Northern
Pacific 10 nave the second mortgage bond
scheme ratified at the meeting next month.
Also that President Newell, Of the Lake
Shore, said that Vanderbilt had been a free
buyer lately OF Lake Shore and Michigan
Central and had the former literally in
his pocket; that Gould was
believed TO be short of
Northern Pacific preferred and Oregon
Trauscoa iueutal; that Comnack had Gov
cred his Western Union shorts; that on
the decline of the corner craze the best
traders looked for ''dry roI" on a lower
market, and that Worrishoifer was row at
the head of the bear interest.
Clews said: To-day was made eventful
by the 1t pursuit of the bears, who were
only .cessful in GLIDING the bulls by in
dustriouely getting under cover, which was
at the expense of heavy drain of both vi
tality and resources. The anxiety evinced
by the heretofore vicious animals was SO
great at one period as to make rough
and tumble scramble in providing for their
safety. The fear seemed to besiege them
that they were going to be cornered in all
directions. The buying was on
a stupsndous scale, and during this
period decentralization and signal defeat in
their ranks was complete. The effect, how
ever, was to eliminate on important short
interest"
Claims CT the United States against the
Central Pacific now pending in the courts
of California for q large amount of inter
nal revenue taxes, have been compromised.
The terms are that the company shall pay
the government $4,000 and costs of the
pending suit, and relinquish the claim
against the government for S26,818 on
account of interest alleged to have been
unlawfulIy paid Jan. 1, 1872.
President Hill. of the ST. Paul, Mime
spolis & Manitoba railway, states that
for the first SIX months
of the fiscal year ending December 81
next, the road will show earnings sufficient
to pay fixed charges of s per cent. divi-
dend, and have a surplus of about $1,00O,-
900. The withdrawal of business arising
from the transportation of materials for
the Canadian Pacific road, has more than
been made up by increased local business,
and the road development along the line.
The wheat tonnage of the road for the ifs
cal year, 1884, is estimated at Is, 100000
bushels, against IL, 100000 in 1928.
Bankers are predicting considerable
flow of gold imports during the fall and
winter. The fiscal year begins with diff
ference of $5o,o0o,oOo in the foreign trade
account in our favor, as COM
pared with last year, and
small merchandise imports. There will