Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-11-24
NEW YORK.
ISpaciaI Telegram To tho c

Especial Telegram to the Globe
NEW YORK, Nov. 23.-The market fails
to gain much in activity, though prices
were very well sustained during the morn
ing. There is still quite a short interest
IN Northern Pacific preferred, Union Psci-
tic. Jersey Central and Reading. The
opinion prevails that at the pool meeting
next Wednesday the trouble with the st.
raul company will be amicably adinsted.
This gives the bulls considerable hopes for
better things. Wabash preferred con-
tinues to be remarkably well held, with
considerable doing in it from day to day,
though few feel inclined to touch 1t on the
long side. 1t and Delaware 4 Lackawsnna
have shown the most activity to-day. Den
yer was neglected and weaker, though
the earnings for the third week
Of November are reported as showing an
increase of $4,000. Canadian Pacific, it
appears, will only issue ct present S1O,-
100000 of the $4,000, 900 stock. The bal
ance will come out as the road approaches
completion. There was drop in Michi-
gan Central to 80 during the afternoon,
were visible. The bears have been little
more aggressive to-day, and prices are
lower In most cases than they were twenty
four hours ago. Michigan Central rallied
to 81 1T the finish. The close was ex-
ceedlngly tame. Illinois Central earnings
during the second week in November in
creased GAG, 900. Rock Island, it is
q aatA a fp- fhn -
present fiscal year has $230,oO0 more ap-
plicaole to dividends than for the same
period in 1892.
It Is said that during the day large pur-
chases OF Lsckawauna, Northwestern and
st. Paul preferred were made for large fin
aacial institutions here. The bears produce
thar old arguments, including continued
business troubles, and say it will be a
very difficult matter to advance prices,
while the bulls seem equally confident on
increased exports, low rates Of money and
continued large earnings.
Bonds continue very active and very
strong. First-class issues are getting
very scarce On the market. IF this con
tinues the inevitable result will be
that their strength viii De
communicated tothe dividend shares. Della
ware i Hudson declared its regular divi-
dend of ~ per cent. Lacka,vanna IVES
sold during the day on report Of addition
al issue Of bonds, which is without founda-
ton. It u expected that the bank CT Eng
land viii show large gains nex5 week. and
that IS taken for bull eugury. The mar
ket fell Of q little at the close on rumor
Of failure in Canada of 100000 but the
street 5 fall Of bull points. One says the
Iowa pool troubles viii be settled by ar
bitra.ion; another that committees
have been appointed By the Metro poiitan
and Manhattan Companies with power to
ssttie their differences: another that Van
derbilV has been buying to-day, and also
Gould. Another rumor says that Oregon
TrauscontinentaI is TO have an advance of
10 ID IS points.
Fifteen million Northern Pacifo bonds
were taken firm with an option on three
millions more. Mr.. Willard says that
within three minutes from the time the in
junction was dissolved he had executed
the mortgage and signed all the papers
for delivery. Drsxel, Morgan & Co. say
that the syndicate IS not yet TO make the
price or terms for the second mortgage
bonds.
Glews says: To-day has been one OF
liquidation STATED By some of the oz:ek
runners, whose aim was to steal a march
upon an army of Others expected TO come
iaser preparatory to next week; whics will
be eventful foz having two hoIidays. It's
usual for the nimble operators to clean
the decks FSior to such periods. Lower
prices we're zaainly prodzeed by this, bu.
we're hslpea by report from Chicago,
shst the consolidated paper com psny, rep
resenting 80, O00,O coo, located az different
points IN the west, hsd decided TO shut
down in consequence Of over production
and the present uaproftabIeness Of the
business. Added TO tAs was
Al uneasy FEELING reported as
prevailing in Montreal attributa-
! bic to the disastrous look Of
/ the lzmber trade which has been carried
on Il that region 70 an excess. The threat
ened Iowa pool var admitted Of the usual
amount of daily rumors, but It's stains re-
mains unchanged As result Of these
causes the stock market closed weak and
fs7erish--
The Iowa pool complications are still
the topic OF discussion among the railroad
officials. The vsriiks talk of the man
ayers of the various roads has ceased. and
the opinion is gaining ground that come
| kind of a settlement will vet ha afe.4a5
before the thirty days notice of
withdrawal given by the Milwaukee
& ST. Paul viii expire. Strong efforts
are being made TO get the managers OF the
various roads In the Iowa pool to meet TO-
gether on next Wednesday, in Chicago.