Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-13
Quite an Active Trade on the New York
Stock Exchange.
LARGE DEALINGS IN CHANGERS.
Another Tripartite Agreement in the
Railroad World.
THE CHICAGO MARKETS DULL,
A Depressed Feeling and Lower Prices
all Around.
NEW YORK.
Especial Telegram to the Globe. I

Especial Telegram TO Cno
New YORK, Dec. 1.-THE market opened
in semi-panicky condition. All stocks
were savagely beaten down, one after the
other, and liberal concessions by the
brokers who had unlimited orders to sell.
Both the longs and shorts competed with
each other as anxious sellers, which lasted
until noon. The rumor which did most to
occasion this state OF frenzy was tele-
gram from Chicago that an agreement
had been entered into between the North
western and Chicago, Burlington & Quincy
roads by which the former turns over to
the latter all Denver business at
Omaha and receives pro rata on
return traffic, and the Denver Rio Grande
enters into the combination on ell bust
ness to Salt Lake, virtually making another
tripartite alliance under the generalship
of the Chicago, Burlington & Quincy in
opposition to the one formed by the
Union Pacific, Rock Island and st. Paul
companies, thus making both sides fully
equipped and in the ring for square
field fight. The whole market for a time
appeared to be upon the ragged edge.
But as nothing, however, could warrant
any further decline after the
big drop of yesterday, improvements
were in order, and the feeling was steadier.
Oregon Transcontinental, on the state
ment that the executive committee had
recommended the passing of the January
dividend, declined to 30A. 1t was stated
that Commissioner Fink did not think the
complications west were of serious ma
ture. 1t O'Clock the whole list was firm
with an active business in Chicago, Bur-
lington & Quincy, the grangers, Union
Pacific, Delaware g. Lackawana and
Northern Pacific preferred. Among the
coal properties Reading was con
spicuoas in its strength, selling up to
554 from 5575c. The day has been an
active one, with good distribution of
business among the Leading properties.
The shorts covered good many stocks,
and will probably be ready to sell again on
any further improvement. For tho first
week of December the following earnings
are received.
Tbs Missouri Pacific system, Missouri
Pacific and Iron mountain increased P2,700.
Missouri, Kansas 81 Texas $4,000, Central
branch $4,000, Wabash $4,000. The
Texas Pacific division shows falling
off of $4,000. The Northern Poetic
for the same period increased $4,000, and
the Manitoba about $4,000. st. Paul
dropped off in aleisurely manner to 954c
but it was SO arranged by the manipula-
tors that no outside brokers could get any
stock at the lowest figures. Four thousand
shares of st. Paul were bought at $50 or
Monday and 5000 shares at about the same
price on Tuesday, supposed to be for St
Paul people, which were paid for ant
have been taken out of the market.
There is universal belief among ths
most conservative brokers from what they
can see on the floor, that war will be Tough
out in Wall street, and not in the lows
pool, and that it is big game to force GU
investment holders and get line Of CHEAP
| stocks.
Lake Shore was sold down by the room
traders under the leadership Of Louis Bell
Woerishoffer brokers were very large buy
ers of different securities during the day
Vanderbilt brokers bought one lot o
5000 of Northwestern and 5000 share
were also taken for foreign account.
The executive committee of the Oregon
Transcontinental met and reported unfa
vorably OF the declaration of dividend
There was large and somewhat excite
assemblage of stock operators and broker
at the Windsor last evening. 1t was ger
orally believed that stocks would be lower
The Windsor bear clique threatened
crack Oregon TranscontInental and dC
clare that Union Pacific is a second De-
yer. The brokers say that Gould is sci
, ing heavily of Union Pacific an
that batch of long stock was sold out b
Belden, being the remnant of his holding
All the western railroad people were i
full force at the hotel, but Hughitt an
Clarke left for Chicago at 8 p. m. Tn
Northwestern company has not yet slgne
the alliance contract with the other tire
roads and they claim they have not eve
seen the documents, but it is generally be
lieyed in railroad circles that the North
western will sign. The Rock Island, the S
Paul and Union Pacific managers expect
, settlement will be reached this week an
some rates which have been cut will b
, restored at once. Hughitt will meet Pei
ter, of the Chicago, Burlington q Quincy
to- morrow, and it is quite probable tha
: the Northwestern and Chicago, Burlingto
, & Quincy roads will act together, bat it
. no sure thing that they Will join in tn
alliance. Notwithstanding the expectatio
of railroad people Potter stated in Chico
90 yesterday that the whole maneuver we
largely speculative movement to bea
Chicago, Burlington & Quincy in Wall stree
, aad he did not believe the Union Pacif
company had any right to sign such con
. pact. It was the policy of his road
maintain rates until driven into battle, ct;
. Mr.. Gable said, the lines which joined
) the alliance are ell in moro secure en-
. sound condition than ever before, and til
properties are also more valuable. "The
5 are in condition." Clark Of the Unic
. Pacific said, "to act Immediately on ii
offensive if necessary, but it
their policy to simply stand upe
the defensive if war is declared
e Conservative brokers say the gener
. | on4;fiad To cborp rally ar