Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-04
NEW YORK.
Especial Telegram to the Globe. |

NEW YORK, Dec. 3.-The market opened
strong and excited under liberal purchases
by the room traders, who could scarcely
conceal their anxiety, however, to their
sorrow, as short reaction downward then
set in, leaving the newly purchased prop
critics on the hands of these gentlemen
who could not conceive the reason for
their being SO badly left with their very
uncomfortable load, and were loath to
believe that there could be
any plausible excuse therefor
having received no intimation of the latest
deyelo pment in the Iowa pool, namely
that the Union Pacific had made an iron
clad twenty five year contract with the st.
Paul, and Rock Island com panies to give
them all of it's east bound traffic, leaving
the Chicago, Burlington & Quincy and
Northwestern out IN the cold, which Is a
position these powerful and wealthy COM
panies will not accept without stubborn
battle, thus putting to an end any hopes
of settlement of the
Iowa pool difficulties. After this
st. Paul sold down from 99% to 98%
with a run. The rest of the market of
neo sssity feverish, but it was noticeable
that as soon rs the news was fully circa-
lated there was but little stock pressing.
La fact that Northwestern preferred was
made to look very active and strong and
given the appearance of immense invest
nent buying. Northwestern common
and Chicago, Burlington & Quincy were
steadily fed out during the middle hours,
and later they were both quito
weak Commock was free
seller of st. Paul. Eoos & Co., were buy
ers.
Oregon was heavy ard the entire list
sympathized with the weakness in the
grangers. Osborn was a free seller of
Chicago, Burlington & Q1incy. There is
q disposition to await tho expression of
I Arthur's opinion on the gene al situation
and see il they agree with Mr.. Carlisle's.
The Willard stocks we're weak on fears
| of What might be done in congress. It is
! said that Keene changed from the bull to
bear side last week aud expects a general
decline in prices. The selling of Oregon
| Transcontiuental, is Credited 20 tue Ex-
change place party. Insiders say the divi-
, dend matter would not be decided for a
week or tan days, bat a dividend would
, probably 6e paid. Chase q Hgginson
caused the advance il Chicago, Burling-
ton & Quincy. They bought considerable
for Boston.
The large crops in Kansas and Nebraska
indicate unusually heavy earnings for the
Chicago, Burlington & Quincy this winter.
1t was reported that earnings in Lake
| Shore for the quarter would would be con-
siderable over 90 per cent. President Ca
bic, of the Rock Island, and ex-president
Riddle, of the Chicago, Rock Island &
Panl. Minneapolis & Omaha, arrived here
last evening. The Twenty-third street
party are giving points to buy Centra
Pacific for good rise. New York, Lake
Erie & Western preferred is also said to bt
an excellent purchase.
Treasurer Tows of the Chicago, Rocl
Island & Pacific company, says he has M
information in regBrd to the c9mbinatio-
of northwestern roads against the Chi
caeo. Burlington & Quincy and Chicago
Northwestern. The directors hold an in
formal meeting today and may conside
the situation in the northwest. Th
usual quarterly divident of III pc
cent will be declared payable February 1st
1t is rumored that Keene has sold $4,000
shares of stock on Carlisie's nomination
Won Emourg Is reported very heavy sci
Ter through other bankers. Commock
! Waershoffer and Smith made the most o
the Carlisle nomination yesterday, an,
were more bearish than ever and th
general impression was that there woult
be some reaction in the market in conse
quence. Gould was somewhat SURPRISED
over this nomination but he though
Carlisle was not l.early SO great on ex
tremist of free trade as had been reporte
and it was doubtful if any great chang
| would be made in the tariff during thi
session. Gould continued to talk BULLS
| and said never in his experience had h
, known so few stocks in the market fo
sale. He spoke also quite bullish on Wa
. bash, and referred to the large amount @
! stock held abroad. Vice President Hunt
ington, of the Central Pacific though