Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-05-09

& Hudson company, it is expected, will de.
eide at their meeting to-day to increase the
capital stock $1,OOO,OOO for the purpose OF
retiring the same amount of bonds. This
was taken for granted some weeks since
The business of their northern lines is
better than last year.
The official figures well show that Chi
cago, Burlington & Quincy net earnings for
March increased $4,000. The Vanderbilt
properties were well supported. Phila-
delphiai& Reading rose about 3 per cent.
IN the last hour, and declined. Some of
the light stocks did well also. San Fran
cleo preferred sold at 54115 and Richmond
d Danville about &c, Pullman ranged be-
tween 127 and 12715. A few moments be-
fore the finish there were some reactions,
the market closing dull but firm.
A better feeling prevails toward Union
Pacific. President Dillon said that the net
earnings of the Union Pacific for the first
quarter this year were 100000 larger
than for the corresponding quarter of last
year, Notwithstanding the fact that the
earnings last year were the largest up to
that time IN the history of the company.
He expresses the greatest confidence in
the earning capacity and financial condi-
ton of the company. Officers of the
Union and Central Pacific companies are
considering the matter of reduc-
ing the running time between Omaha
and San Francisco twenty-four hours,
making the time between New York and
San Francisco five and one-half days.
The Osborn pool is buying st, Paul.
The earnings of the company for April
fully Justify the claims made by President
Mitchell at the beginning of the month.
The earnings for March and April have
made up for the deficit of January and
February in the amount required for divi-
dends on the common stock. The COM
Pany is thus in fair way to show extra
ordinary earnings on the stock for the
year.
The fright over the retirement of Mr..
Vanderbilt seems to have come to an end,
and the bulls are masters of the situation.
The bears did not take advantage of the
chance they had on Saturday last to smash
the market, from which it seems to many
that no large proportion of the street cares
to see lower prices anyway. The Wall
street NeaoS, which is nothing if not bear
ish, has long explanation of why Wander
bilt resigned, part of which is as follows:
1.-TWO years ago Mr.. Rutter urged upon Mr..
Vanderbilt the necessity of heading off
competition of new enterprises by reduc-
ton of rates that would make it impossi-
BILE to secure capital for their develop
ment. Mr.. Vanderbilt started in upon this
idea, but abandoned it and made peace
with the other trunk lines. AS natural
consequence capital again glowed with the
new schemes, and he was finally compelled
to buy the Nickel Plate and the st. Paul &
Omaha at an enormous cost to the Lake
Shore and the Chicago & Northwestern.
The purchase of these lines only whetted
the appetite of outside capital, and the
West Shore road which parallels the New
York Central and outs into all of its local
and through traffic from
scores of wealthy supporters who
had hitherto stood aloof, instantly. 1t is
more than likely that when Mr.. Vanderbilt
reaches the other side pronunciamento
will be issued from the grand central de-
pot by President Rutter, which will ap-
prise all other lines, new and old, that a
struggle has been begun which will result
in the survival of the fttest. The Erie
the Delaware & Lackawanna, the West.
Shore and the Pennsylvania Central will
all have to fight for dear life, and the
New York Central shareholders will have
as bad time as any. With the Philadel-
phia & Reading and the New Jersey Cen
tralto open up war in the coal regions in
behalf of the New York Central, a great
many speculative card houses will tumble
to pieces.