Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-11-20

Of the day by the announcement that the
st. Paul company paid over to the
Iowa pool $3S,000, the amount
of its Indebtedness, which had been
previously held back. This was construed
as foreshadowing harmonious action at
the trunk line conference, to be held at
Chicago, for the purpose of settling all ex-
listing faculties. The said meeting con-
vened during the day, but the st. Paul
people failed to put in an appearance.
This is said to intensity the war feeling on
the part of the Rock Island and Chicago,
Burlington d. Quincy companies, and as
the information reached here the market
received set back all round in conse
quence, and renamed during the balance
of the day feyerish and unsettled. Still
there was an unmistakeble strata of
strength at the bottom of most of the ac-
tive stocks, denoting strenuous effort to
bring about higher range Of prices.
Manitoba, and Cleveland, Columbus, Gin
cinnati and Indianapolis were decidedly
active. There was another twist in North
ern Pacific preferred. Wabash preferred
improved on the report that there wonld
be no default in the payment Of interest
falling due Dec. L or Jan. 1. New Jersey
Central is quoted ex-dividend of ~ per
cent to-day. This Is the first time this
stock has INDUCED N this loxurY since
April, 1876. 1t sol3 then al 1913, but at
208 before the close Of the year.
The following earnings are reported for
the second week Of November: Northern
Pacific increased 100000: Canadian Pa
cifc $4,000; Manitoba $4,000. Parties
just in from the extreme north report bus
mess quiet on the above lines. Tie Min
neapolis & Omaha road it IS stared is put
ting its Lake Superior branches in excel
lent shape in view OF q heavy traffic next
spring.
The troubles Of the Iowa pool and their
probable effect on the market we're the
main subject of serious discussion at the
hotels and the clubs, and the majority of
the operators believed that a very bitter
war was inevitable. This at least was the
tenor of all the private railroad telegrams
from the west, and the president of one of
the grangers telegraphed Nov things will
be red hot" The general impression
among the largest traders is that the di
rectors of the pool lines are all short of
stocks, and therefore are just spelling for
fight. Gould on the other hand stated
at the Windsor there would in mis- opinion
be no war, because the roads
could not afford it. Sage also
80
argued that the matters at present in dis
pute did not amount to much money. Mr..
Gould incidentally remarked that he
found things in the west looking fine,
business prospects good, and promise of
big traffic over the Wabash road. Not
pie were very bearish, and predicted
great pressure would be made upon west
ern stocks. They say the granger road
stocks are depressed and consequently the
market is going down. II. o. Armour sal d
that speculation is stagnant and dead
in stocks, and all are alike demoralized,
consequently he does not buy, because
affairs do not look well, and rather than
make investments now he would feel safer
in buying when ten points higher, with
the surroundings in better shape. 1t is
reported from Chicago that So passen-
ger rate will be made to Council Bluffs
this week.
The latest reports from Pittsburg say
the army of idle men is increasing very
fast, and the very largest iron mills in
Pennsylvenia are shutting down owing
to lack of demand and no profit
in manufacture. There is great excite
mentin this trade with gloomy apprehen-
sions for the future.
The. trunk managers here declare there
is no probability of any difference in
prices between Chicago and New York.
Everything is now harmonious with the
Delaware & Lackawanna, which is working
out old contracts with full understand
with Rutter and other managers at low
figures. East bound traffic increased l.
600 tons last week. The Ohio river pool
has made a new agreement taking effect
Nov. /.