Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-09-22
NEW YORK.
Ispecial TELEGRAM to the Globe. I

Especial Telegram to the GIobe.1
New YORK, Sept. 21.-Transactions to-
day on the stock exchange were 10000
shares-a good day-and nearly half of
this amount was Willard stocks There was
less pressure to sell and less activity during
the first half hour than for several days
past. The Northern Pacifcs were not
quite SO feYerish, but still continued to be
the feature. About 9:45 o'clock the bears
came in, and sold the market freely and
with confidence under the leadership of
Slayback, Worishoffer and Bell. Their
special points of attack were Union Pacific,
Central Pacific and Louisville & Nashville.
The Willard properties, however,
maintained their position as leaders,
and fuctuated feverishly within IL points.
At intervals during the day there we're ces-
sations of the hostil1ties, but the tendency
continued to be downward. The good
dividend properties were dull and gener-
orally without any feature of note. New
York Central was not specially strong.
After l o'clock the drive was again started,
and from then until the close the whole
list suffered more or less, and the Northern
Pacific preferred made its lowest dip to
6S38, the market closing weak On contin-
ued sales of Wizards, evidently great
part of it long stock. An Authority from
Philadelphia is quoted as saying prices
in these stocks will be yet
lower. Coalers were generally steady;
also Chicago, Burlington & Quincy gran
gers were we'll sustained considering the
general depression. Rochester and Pitts
burg earnings for the second week of
September, increased S1,4SO. Canada
Southern has settled the Cranky bridge
toll claim of 100000 for $4,000 and
reduced future tolls.
Boody said the corn roads seemed to be
entirely neglected. Mr.. Could, it was
supposed, sold stocks heavily. At any rate
his favo-ites were feeble with the rest for
time. There was some improvement
in finalg dealings from lowest quotations,
though the market could not 6e called
strong by any means. Manitoba earnings
for the second week III September ircreas-
ed $22,09O. Hannibal s. st. Joseph for
the same time show an increase of S., 800.
East Tennessee for the two weeks of Sep
tember gained $4,000.
A leading operator says: 'To-day the
weakness has been specially shown in a
few stocks which have been very active.
Union Pacific has been sold heavily by the
bears. Louisville & Nashville has shown
the effect of heavy realizing. The Willard
stocks have been again the most active.
The rally in them of yesterday afternoon
has not been sustained. It is said there is
sti much long stock coming out, holders
being dissatisfied with the report. AS the
unfavorable feature of the report is the
announcement that the road has cost $S,-
100000 more than was expected, it
would seem that decline of double that
amount in the value of the stock would
amply Offset the outlay. This is what has
taken place. The common and preferred
stocks are worth S17,OOO,O0O less than
they were July I, last. 1t looks, there
fore, as if the increased cost of property
had been more than sufficiently dis
counted" The report of probable cold
weather and frosts tomorrow, and ths ru-
NOR of further trouble in Cana dian bank
creates general feverishness, ard points to-
ward lower prices tomorrow.
Herman says the Northern Pacific an
nuaI report is generally considered IN
favorable. The operating expenses are
larger than supposed. The company mas
accumulated debt of S7,000,000. The ar
rangement by which the Oregon Trans
continental advances the money on securi-
ties furnished by the Northern
Pacific does not alter the fact
that the S7,OOO,O00 came in ahead Of the
preferred stock, that interest OF this
amount will have TO be paid. Instead of
having S25.O00 per mile available for con-
struction the company had $4,000 per
mile which caused defect OF nearly S6,-
100000.
The transactions in Union Pacific were
$4,000 shares to-day. 1t was largely sold
to break the general market. W. G. Shell
don was heavy seller of Willard stocks
to-day. 1t is reported Gould gave sup
porting orders for his stocks. Scott &
Baker, of the Richmond &c Danville rail
road, were elected directors of the East
Tennessee road.
OA Washington dispatch said treasury
officials believe that S45,Oe0,O00 more
bonds will be called during the fiscal
year. H. Clews said the course of
the market would show by sudden
breaks and rapid recoveries that the fuc-
tuations were caused more by the struggle