Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-09-24


| possible now to put up the list regardless
| of the course taken by Willard stocks. The
Northern Pacific may not go down. There
is no doubt bull pool has been formed
| in the stock, and several large operators
are identified with it. It is stated the pool
will buy 100000 shares of Northern Pacific
preferred and Oregon TranscontinentaI; in
| TACT they have already bought consider
| able block. That story that Gould and
Huntington desire to obtain control of the
property and could get control by the
| purchase of Transcontinental stock requir-
ing about S13, 100000 is not impossible.
A theory has prevailed that there has been
very heavy buying Of the Northern Pacifics
| under cover of raids in other stocks. Mr..
Slayback has hammered Northern Pacific
common. Mr.. Nichols sold large amount
of preferred. The active traders have
spent most of their time in the stock
making turns on eighths mainly on
The short side. One Of the larger traders
is reported short ever 10000 shares of
Northern Pacific preferred. A large
operator said: "The market looks like
going lower, but conditions are unsettled.
A vigorous rally in the Northern Pacifcs
or any unexpected turn there might send
the whole list up several points. Person
ally had rather be short than long, in
fact am short of Central Pacific, North
ern Pacific and New York Central. 1 hear
that the plan is to get prices of about 4
per cent. ell round. That would be about
the natural thing to expect after the rise
We have had, and have 10 doubt por-
ton, at least, of the. present bear party
would be willing to buy for turn on a
point drop"
There was a rumor this afternoon of fnan-
ciaI trouble impending but particulars
have as usual been lacking. The idea that
the Gould-Huntington party may be buy
ing control Of Oregon transfers gained
strength during the afternoon. 4 North
ern Pacific man says: I do not know
whether there is anything in the story or
moi, but it is attracting considerable at
tention Tor story without some founda-
ton in fact. The volume of business is so
large nobody can keep track of what is
done. For my own partI consider such
scheme entirely feasible fer men like
Gould, Huntington and Vanderbilt. Mr..
Vanderbilt is supposed to be interested"
Certificates of Northern Pacific were
delivered to day signed by Mr.. Willard
dated Sept, II and witnessed by Mr. J..
I. Decker. The movement of the market
to day satisfies some Of the largest horses
that q bear combination of unusual
strength has been formed with the inten-
ton of entering upon a bear CHAMPAIGN
to last well into the winter. They base
their expectations of success upon the alb
sence Of the public, over-production of
securities, damage to winter wheat and
corn and on the belief that their financial
strength is greater than that of the bull
interest in the street. A prominent
Broadway broker said of the Northern
Pacific report: The company make a
plain, frank statement of the fnan-
cial condition from which it Is clear
enough they have spent more money than
they had. think that in the coEstruc-
probable the estimates fell below the ex-
penses; indeed this is generally the case
in any similar undertaking. There are so
many unforeseen contingencies that it is
impossible in an enterprise of such mag
nitude to provide for them all. This being
the case, I do not regard the debt of the
Northern Pacific as necessary evidence
of bad faith or bad management. The
company state they have made provision
for the payment of the money
and it will probably be met by some fur
Their issue of securities
The bewilderment caused by the opera
tions of the. bears is well expressed in the
quoted opinion of prominent operator
supposed to be closely identified with
Gould interests. "We thought the bears
were discouraged" said he, ''but they have
shown astonishing vitality in the drive at
the Northern Pacific stock. do not un-
derstand this attack. There are plenty of
rumors afoat, but nothing definite. In
my opinion there is strong bear COM
binat1on backed by good deal of money.
They have for their objective point one
or two rich men in the street
and under present circumstances these
men are so heavily loaded
with certain stocks they may find it diff
cult to resist the bear attack" Mr.. Gould
is reported as saying Missouri Pacific is
earning at the rate of Is per cent. On the
stock. Mr.. D. o. Mills says the Erie earn
ings this fall will be the largest in the his
tory of the company. 1t is stated Mr.. VIM.
Belongs holdings in his own name Of
Union Pacific are 1000 shares. He is In
derstood to have had some time ago 10000
shares in his own name. Mr.. Sage saws
people forget that Wabash is an improv
ing property, and do not realize how close
ly Gould is looking after its welware.