Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-11-01
NEW YORK.
Especial Telegram to the Globe.


erpool yesterday it was thought that the
market would open weak and sell of dur
ing the day 1t has certainly shown more
strength than was expected, notwithstand-
ing very disquieting rumors and the steady
pressure of the bears. During the fore
noon Erie wss heavily end persisteatly sold
| By pro1nisenG speculatipg house and
it was an 9lnced the sales were being
| made foc L 1gopean accounts. At the same
time there Was free realizing in Oregon
| Transcontineptal and the granger stocks
were easier. During the middle hours re-
ports were circulated that the trunk line
war was certainty, and the Vanderbilts
were hammered. During the last psrt Of
the day the market was better all round.
Transactions ware light and ct times dur
ing the 3ay The market was very dull.
There are good orders in Oregon to buy
at every reaction. The stock is il posi-
ton to be easily cornered and the
shorts twisted. There was very
good buying in Lackawarna during
the afternoon. Prominent railroad eff
cials here say that there is very little pros
peet Of trunk dne war. The market
closed stroHC with thu bears anxi-
ous to bay Louisville & Nashville, and
Oregon stocks seem purchase on all re-
actions. Uuring the last half hour there
was fair rally and the close was com par
atively strong. The life seems to have
gone out of The market, and the short in
terest is now vory small. There was no
premium fer lending on any stock but
Michigan Central, and that vas lent at
LIS. The bears are driven out of the
msrket by the heavy premiums they
have been obliged 10 pay and By the bear
of squeezes. There is no outside demand
for stocks, and The attempts of bulls to
rally their 2avorites are sickly and dispir-
iting. The market is likely TO drag until
the bears gain courage again to sell il.
The bears were bold and confident sell
ers during the fore part of the day, their
incentive being the reported fight between
the Lackaw, g lad Erie, in which 1t " as
said they were CT tting each others throats
at local points. The raid on those two
stocks gave a cold chill to the balance OF
the market, with g consequent loss Of
vitality. After the short lines had been
considerable excited and the bears
were preparing to rake in their profits
the bulls came to the front and manipu-
lated prices upward and soon succeeded
in completely wiping out the profits of the
bears which they had worked SO industri-
ously TO obtain. The anxiety of the shorts
to close up their days doiugs caused them
I to pay the highest prices Of the day right
up to the close.
A dispatch from Cleveland says the
Lake Shore road is having an unusually
large tonnage, and It's earnings for Octo-
Der will be decidedly in excess of las:
year, General Devereux says that Lake
Shore and Michigan Central ara doing re-
marhably we'll this fall also.
Henry Ciew's says: The recent bril-
liant bull campaign waged against the
bears resulting in their severe punishment
and defeat has come TO close. After the
prolonged fight and the excitement and
the fatalities in consequence, an exhausted
condition of efairs has naturally set in
Which is not unlikely to continue until re-
cuparation brings strength and courage t.
all hands. In the meantime the interes
in stock speculation may be more or less
neglected and thereby cause q sagging
away of prices ana restricted opera
tons"
Willard says: ''To-night it is rumoret
that member of one of the big bull pools
has turned on his associates and thai
they, discovering the fact, have tried thei
best 20 get out. Undoubtedly there hsi
been some short selling, but the sales o.
long stocks have been far more important
and it has been apparent the general pub
lie has taken no part in the speculation
as if the professional had become tired O
their load, Gould, it is said, has with
drawn his support from Western Union
There is sonewhat better feeling il
the stock markets. There has been 81
average decline of s17 q share in the mar
ket vslae of eight hom
stocks, dealt in ct Toronto
in the last year, though the earnings ur,
larger than they were year ago, aud Ii
case of The federal bank, whose stock ha
rapidly sprung in price . dividend of Il
per cent. is nos paid against psr cent
last year, while it has ''res" Of 80 pc
cent againss ten q yevr ego. L is al
unfortunate feature of business in Canad
that bond stocks are bought and sold o.
margin, whioN rarely occurs in thi
country. Ths 5.ock transactions at Mon
treal i&st week were larger that any wee
in . yesr. The sales of the bauL o
Montreal exc eedep 1000 shares. The coppe
stocks which have cut such figure il
Boston in past years are very dull nov
and only ave in the long list pay livi
dends. Thsre is great activity IN mine
| on the Michigan peninsula. In one c
them has 6ssn found sn enormous mass c
copper likely to rival the famous ma.
taken from the Minnesota mine som
years ago. These masses ara hard t
manage and are less profitable than COZ
per in smaller pieces. A sale of 10000
600 pounds of copper at 15o per poun
has been arranged BY the Lake Superic
combination.
e-rlES AND RUGS