Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-05-17
NEW YORK.
Especial Telegram to the Globe. /

Especial Telegram to the Globe.1
New York, May 16.-AdditionaI weak
spots make their appearance from day to
day. This forenoon Wabash was without
support, and the result was drop in the
preferred of 3 per cent, and common, 2.
Western Union came next, with decline
from S311 to 812. Better things were ex-
pected on this stock, but it went like the
rest. The advance of last evening was ev-
identity engineered for the purpose of as
sisting further selling movement to-day.
Northern Pacific preferred was bolstered
up to SO, followed by sales soon after at
8718.i
The grangers under the circumstances
held quite steady, as did Vanderbilts,
Louisville & Nashville, Union Pacific and
the coalers. Pullman Palace Car was
easier, with sales down to 1919. The Gus
tomary rally at the end was wanting, and
the market closed somewhat demoralized.
caused principally by weakness in Gould
properties. Latest reports of earnings
are as follows: New York Central for the
past seven months is expected to show a
gain of $2,OOO,OOO, net. Union
Pacific, fourteen days in May, increased
$4,000; Denver, second week in May
$4,000; Western Union Telegraph, first
half of May, gains 100000 net.
The recent weakness of Union Pacific is
generally attributed to reports of trouble
in the Iowa pool. Chicago advices have
been that the Rock Island had given no.
tice of withdrawal. Action in the matter
was expected to have been taken yester.
day, but it is understood that postpone.
ment has been arranged. The cause OF
the trouble is not clear. It has been suffi.
Gent, however, to cause very general
| selling of Northwestern stocks for Chicago
account.
Groesbeek & Schley have sold about
| 5000 shares. There have been rumor,
that the pool was out of its holdings and
that further decline might be expected
Insiders take different view It is stated
on good authority that President Dillor
holds more stock than ever before. Com.
petent railroad men say that the road i:
out of difficulties and that its business this
year will make better showing.
Oregon 81 Transcontinental was weak in
the absence of the usual support. Mr.
| Willard is understood to be in town anG
the weakness in his specially has aroused
a good deal of curiosity as to whether it is
preliminary to the promised advance, OF
grows out of unfavorable news which he
brought back. One rumor which has ex
erclsed some influence has been that the
company sold portion of its treasury
stock some time ago and that deliveries Of
the stock are being made. The Wander
bilt stocks have been steadier it is reported
on cable orders. There has been rumol
that Vanderbilt agreed before leaving New
York to support his stocks upon reaching
London. He is said to have sent cable or
ders with this agreement Brokers, sup
posed to represent Gould's views, declared
to-day that the end of the depression was
at hand. One of them said: ct was no
to be expected that Mr.. Gould would come
back from the southwest and buy every
body's stocks on an advancing market. L
was to he expected that there would be frs
a general shaking out, enabling manipula
tors OF the movements to get stock a
prices which will enable them to sell a
profit on moderate advances. l do not ex
| pect great Improvements Immediately, bu
good stocks bought at these prices ar,
likely to show moderate profits within
short time.''