Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-04

that the nomination of Carlisle was a
bad thing for the country. The Wander
bilt brokers and following continue bullish
on Lake Shore, but not on New York Cen
trail, and it is reported that the latter COM
pany proposes to issue $20,oo0,00o of sec
ond mortgage for the purpose of Few
railroad supposed to be connection with
the Pennsylvania coal fields.
Rutter's friends deny this, and say that
no bonds will be issued at present, al
| though there may be an issue made later
on for about 100000, as the company
requires funds to purchase a
road. The trunk line people are gratifed
because of the large increase in east bound
tonnage, which last increased 15,400 tens.
Vanderbilt tells his friends that, these
roads have large winter traffic assured, land
s'stocks will go kiting after the LIST of Jan
uary." The pool in Erie talk 36@37 for the
common in ten days, ard president Fish,
of the Marine bank, who is director of
the company, has been buying considera-
BILE stock. The short interest
in it is estimated as high as 100000
shares. Jewett says the company will earn
per cent. On the common this fiscal year.
One Wall street house alone has been lend
ing 10000 shares of Erie since last May.
The brokers generally attribute the ad-
vance il prices on Saturday to the opera
tious of Keene IL Hutchinson and to Or
ders from Connor's Office, but they thought
Gould sold some Missouri Pacific. Con-
servatives are generally disinclined to buy
stocks, and some of think the recent
rise is not consistent in
view of The opening of
congress nevertheless they would not ad-
is any more money of consequence in the
market on the bear side.
There wes another meeting of the new
directors of the elevated roads on Satur
day, but Kneeland says nothing new was
| done and the commissioners adjourned
| again till to-day. Il is said Gould contin-
| ues his offer to the Met
ropolitan stockholders for the ex
changing of second preferred culminative
stock for their old Metro politan shares
and all the back interest. but he expects
no settlement will be made outside of the
courts.
The Pennsylvania Coal company has
issued circular reducing prices fifteen
cents per ton from Dec. l. The strongest
evidence of the insincerity Of the present
bull movement is that no body wishes or
J deres to come openly forward as a leader.
All the big men of the
stock exchange remain under shell
ter. Formerly when genuine
bull market was settled every ybody who was
anybody came to the front and carried
with him whatever following he had. To-
day you don't find any prominent man
willing to take stand. Everybody asks:
who is doing this? ?" and nobody seems to
be able to answer the question. Some say
it is j. K. Keene; others name somebody
else. The only evident and sure thing is
that whoever the man or men are they pre-
fer to hide themselves, and this is in
Wall street always an infailable
proof that they have not come to stay and
want to skip" as soon as an opportunity
presents itself. A sincere and solid bull
wants all the following he can get. He
| takes all his friends into the movement.
He is to be seen everywhere as active as a
recruiting sergeant, while the present
manipulators produce rather the impress
sion of trappers. The session is propi-
tious to them. Money is dirt cheap, and
there is big additional lot of it coming
with the beginning of the new year.
The pot hunters are already trying to
take advantage of all this and are working
stocks up in the hope of putting them
some 10 or - points higher by the time
the reinvestment seeking funds come out
But the birds have been there before and
are getting shy.
1t is stated that last. summer Henry n {.
Poor, compiler of railway manual" be-
came satisfied that the Northern Pacific
R abroad company was canceling a large
floating Indebtedness and that
stock must suffer heavy decline
He formed q syndicate and sold stock
short 10 the amount il is said, of near 49,
600 shares. The stock was about eighty,
aad when below forty the profits were IL
the neigaborhood of S2,0O0,000. When
the facts came out Poor's estimate of iu-
6ebtedness was found to have been almost
absolutely correct. When the stock began
to 60 down it seemed to receive mysteri-
Gus assistance in its dowwanrd tendency
This is now believed to have been the re-
suit of large sales by President Willard,
who is reported to have pro6ted to the ex-
tent Of millions by porsuipg the policy OF
JaV Gonid in dealing with his own stocks