Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-10-21


enormous difference between cash and regular
only partly represents the losses of the shorts,
inasmuch as those for whose account the stock
had been bought in under the rule made add
tional sales in regular. This will help the
movement which is said to be contemplated to
make another squeeze on Monday. The theory
that those who purchased preferred stock for
voting purposes in connection with the proposed
issue of second mortgage bonds, would sell
some Immediately after the closing of the trans
fer books, is entirely at fault. The Willard
party, which includes several prominent bank
ing houses, it is said have determined to put
stop to bear raids on their specialties and to-
days movement in Northern Pacific preferred is
advanced as conclusive evidence thereof Owing
to the great excitement attending the Northern
Pacific rise, other movements were lost sight of.
1t is learned that some of the sherts in New Jer-
sey Central have tried to make private settle
ments and in some cases paid large shares to Sc
cure stock. The general market was irregular
throughout the day. The pressure to sell was
not severe but the market lacked support in the
early hours. The opening figures were about Il
ga per cent below last nights closing. From
the hrst sales prices yielded until decline of
A0I% per cent. was recorded, the weak spots
being Western Union Telegraph, Chicago, Mil
waukee & st. Paul and Missouri Pacific. Den
yer Rio Grande and New York Central rather
firm. Late in the day the market i'm
proved in sympathy with the rise in Northern
Pacific preferred. Many shorts covered in other
stocks, fearing squeeze. The advance ranged
from 1z9135 per cent. New York Central sold
up to 1i419, Western Union Telegraph to 764,
Delaware, Lackawanna & Western to 1125S,
Lake Shore to $40, Missouri Pacific to 9l3I,
New jersey Central to 881s, Union Pacific to
673s and Wabash to Sl12. Near the close there
was a reaction, but in the final dealings the
market was again On the advance. Northern
Pacific preferred closed Tx per cent. higher at
1914 cash, as compared with yesterdays closing
cash sale. As compared with last nights closing
prices Oregon Navigation is down per cent,
Oregon improvement 3 per cent, Canadian Pa
cifc ls6 per cent, Chicago d Northwestern pre-
ferred ~ per cent, Chicago, Milwaukee & st.
Paul ~ per cent, Lake Shore l per cont,
Missouri, Kansas & Texas ID per cent, New Jer-
sey Central l 35 per cent. and Western Union
Telegraph "a per cent. Northern Pacific is up
Is per cent, preferred q per cent, Oregon
Transcontinental Is per cent, Wabash, st.
Louis & Pacific preferred 1 per cent, New York
Central g per cent. to 114H, Michigan Central
Is per cent In specialties Chesapeake & Ohio
second preferred rose ~ per cent, Bankers &
Merchants Telegraph g per cent. Sales of
stock for the week 3 1859, 7Sl shares, an increase
of 1,l32,5 as compared with the previous
week. Exports of specie for the week S522, 9ls,
a total of Sl2, sos, 35l since JAN against $49,-
401, 108 for the same period in 1882. Imports
of specie for the week S62S, 800, total of $IS,-
1872. 155 since Jan. l against $3,908,S:7 for the
same period in 1882.
From the Commercial Advertiser: During
the last hour most intense excitement prevailed
in the Stock Exchange in consequence of the
transactions in Northern Pacific preferred.
Thousands of shares that had been sold could
not be delivered and the brokers were COM
PEELED to have them bought in. At the board
naturally, the highest sort of premium was de
manded. The loss will fall upon customers of
course. If they can't stand it the brokers will
The highest price paid for stock was 7S1S cash,
against 81 regular May or premium of 13%
per cent. 1t was expected that many houses
could not bear the twisting, but up 10 the last
moment no failure has been reported. The I'M
finished list of sufferers is as follows: 800
shar- s, Robinson Il Robinson; 2s0 shares, Fl.
Lapsley g. Co.; 500 shares, Dittenville & Co.;
800 shares, J & S. Worrnsed; 800 shares, J.
NJ. Amory; 900 shares, W. Rogers; 1,I0o shares.
W. Heath & Co.; 900 shares, J. 81. Bloodgood
Co.; 10p shares, &. s. Elliott; 200 shares, VIM.
Heath & Co.; 500 shares, J. & S. Wormsea.
Stockholders to-day paid as high as 1925 for
the use of q hundrsd shares on Northern Pacific
preferred. These figures are unprecedented.
The small premium ranging from 8l1L1 per
cent had been charged in this stock in the early
part of the past week. Wednesday the rate
was advanced to 8 per cent and since that time
has varied more or less to that extent To-
day capped the climax. When stock loaned
at 81 per cent considerable surprise was ex-
pressed. The short interest was known to be
very heavy and stock necessarily was scarce,
what added to the particularvaue of it to-day was
the transfer books were to close this afternoon.
The scarcity of stock in this market, and the
ease with which it loaned in Philadelphia, Great
ed in the fertile mind of General Coils, of
Coils & Levy, a brilliant and daring scheme to
improve the shining hour" He borrowed l 500
shares fiat in Philadelphia and began dealing it
cut on the floor of the New York Exchange at
1870 this morning at rates ranging anywhere
from to 81 per cent In order to make his
deliveries good he directed Arnold, of the Phila-
delphia house, to charter a special train and
reach New York before 2:15 o'clock p. m. The
business was very risky. The failure to make
his deliveries good, and disaster or detention
on the road was equally to be feared. How
ever, Arnold, with his valuable cargo, hurried
to the Pennsylvania railway Office at Fifteenth
and Market streets and applied to General
Manager Thomson for a special train and
clear track. An engine and baggage car were
placed at his disposal, and shortly before II
O'Clock the special train rushed from the sta
ton and was laundering on its way to this CITY