Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-10-02
NEW YORK.
Especial Telegram to the Globe. I

NEW YORK, OCt. 1.-On the stock eX-
change the transactions in Oregon and the
Northern Pacifics saved the day from being
recorded as one of the dullest witnessed in
some time. The feeling was rather weak
early. Central & Hudson fell 1 per cent,
probably on the report that its rival would
be open for business from New York to
Syracuse at about this date. The changes
were unimportant in the majority of
stocks. In the last hour the Wizards
showed some strength and Western Union
went above 80. The Changers remained
steady, as did Union and Missouri Pacific
There was hardly thing to break the
monotony of the market all day. There
wero no symptoms of activity outside of
the Wizards. Northwestern, Lsckawanna &
Westefn Union at times recorded few
II anseet'ons, but the great majority of
the list I'D not put ia an appearance. The
Northern Paciics we're weak at the open
ing, steady during the middle hours, but
strong at the close. The market closed
very strong on very light trans actions,
and with better feeling all round. Ches-
apeake & Ohio earnings for the first week
Of September increased $4,000. There is a
largo short interest in the market. Chi
cago, Darlington & Quincy showed little
weakness, selling at 12424, The earnings
for September are expected to show an
increase of about 100000. There
was little doing in the stock
The quotations in Omaha preferred is ex-
dividend of ~ per cent.
Money showed signs of Tightening to-
day. Should this continue the bears will
make cat of it they can.
Wall street continues to indulge in tn Q
same old way. A drop of seme 10 points
is followed by rally for five or six; then
comes another big drop and another petty
rally. They form daily the great bulk of
the transactions. All the fsvorites of for
mer days remain almost lifeless. To
every five points up or down in any of the
Willard stocks the Lake Shore and the New
York Central, the Union Pacific and SINH
lar specialties do not move more than one
or two points. Even such
essentially gambling stocks as the
Denver and the Louisville & Nashville do
net attempt to keep in line with the new
Wall street favorite, and what is more, the
hold which the Northern Paciics have tax
en- upon the market is 80 strong that the
most sincere and old fashioned bulls de-
clare now that no permanent advance in
the market een become possible before the
Northern Pacific and Oregon Transconti-
mental business is fully settled. Vice
President Oakes says that it has debt of
S7,900,O00, and persons quite intimate with
over S15,000,000. The only way for the
unfortunate stockholders to arrive
at the truth is to begin judicial
investigation into the condition of the
Northern Pacific and the Oregon Trans
continental treasures, and that seems to be
the step about to be taken by some of
them. If they are men of courage and
determination they cannot help arriving at
the true condition of affairs, and that is all
that is wanted to bring these stocks to q
legitimate level and to restore peace and
prosperity in the Trinity church parish.
Last weeks rally was attributed to some
mysterious interviews between Gould and
Willard, but the ODDS are ten to one that
these interviews, even ie they have taken
place, Gid not in any way affect the attitude
of Gould toward the Northern Pacific stocks
A very shrewd man who knew Gould
we'll and seldom speculates himself, said
the other day: 81 would make small bet
and give odds, too, that if Gould ever did
anything in Willard stocks he sold them
short. He knows that D. o. Mills is load
edwith them, and he knows also that Mills
backed Kneeland in the elevated road suit.
Gould's natural impulse would to be to act
square with Mills, and here he has a very
fair chance to do SO. There is very little
christian charity about j. CO.
The decision of the court of appeals in
the Hatch-Wilhams suit against the West
ern Union,is to be given this week. It is gen
orally believed the decision will be adverse
to the company and some rumor mongers
go 80 far as to give reasons for asserting
such fact. They say the Judge to whom
the work Of writing out the decision of the
court has been assigned is we'll known to
hold opinions hostile to the company on
the points of law involved, and conse-
quently the decision is sure to be adverse.
Another story is that Messrs. Hatch &
Williams have come to an aaicable agree
ment with the company, and that when
the case is called there will be no question
at issue 20 decide. There is one curious
side-light in this affair: Jay Gould
has beea so prominent IN the management
of the Western Union, and was SO enthus-
iastic in paying out the dividends which
were enjoined by the courts that the peo-
pie have generally forgotten that he had
nothing TO do with the opening of the
$15,000,000 stock. Mr.. Vanderbilt was at
thet time the leading spirit of the concern,
and he will be one of the persons to be
sued BY the company. Should the courts
declare the issue illegal, Il guess" said
Gould, "Mr. Vanderbilt will be able to pay
any judgment obtained against him." 1t
would be curious outcome of the whole
affair if Mr.. Vanderbilt had to reimburse
Goul@ for the dividends which the latter
has peid.
News comes from Europe that j. G..
nnfl g