Daily globe., 1883-07-18
NEW YORK.
Especial Telegram to the Globe1

Special Telegram to the Globe
New YORK, July 17.-There were some
signs of weakness in the early dealings,
and prices in some cases were lower than
on yesterday. There was a much better
feeling, however, and but little excitement
The shorts covered good many stocks,
and there was some quiet picking up of
the dividend payers by conservative trad
ers who were willing to commence pur-
chasing for an upward turn. The impend-
ing trouble between the telegraph COM
pany and its employees still acts as a
damper on the market, and it will not be
very plain sailing until the matter is set
tied. Should an immediate settlement not
be made, we may see still lower prices for
stocks. There was not much Of an i'm
provement in the market until about the
last half-hour, when prices throughout
were quite firm, and the advance was sufii-
cient to close most stocks higher than the
final sales of yesterday. Northern Pacific
preferred and Oregon Transcontinental
displayed good deal of strength
at the last. There were sales to-
day of Pullman Palace at 1880
129. The buying at the end was princi-
pally by the shorts. The advance cannot
be considered as anything permanent, and
may be followed by a decline again to-
morrow, as it is generally believed the
Western Union company will not accede
to the demand made by their men.
Should the strike be prevented sharp
advance may take place. The Herman
Ne,cs Letter says that it is understood that
Gould is greatly opposed to a strike and
cannot afford to allow one to take place.
1t is thought concessions will be made on
both sides.
The reaction in the stock market during
the afternoon was based on the decline in
| consols at5 London and reports that the
relations between France and England
were complicated and becoming strained.
Burlington and Union Pacific as we'll as
Denver were affected by rumored rate cut
ting The decline IN Union Pacific, how
ever, was checked by the report
of favorable earnings lately.
Northwestern was unsupported and was
sold down. There was no unfavorable
news respecting the road, and its friends
are confident of a gratifying advance
when the market turns. 1t is alleged that
the principal decline in Manitoba was
caused by the execution of stop order.
The transactions were 100000 shares.
The Mercantile Trust company COM
! menced to pay the second quarterly divi-
dend on Western Union yesterday. At
o'clock half the stockholders had received
checks according to Gould's arrangement.
Ballou sold 1000 shares of Western Union
at the opening. Denver was heavily sold
on reports of rate cutting. Lackawanna
was sold in consequence of the issue
S5,OO0,OO0 new construction bonds by the
New York, Lackawanna & Western which
! is the Buffalo extension of the Delaware
Lackawanna & Western. 1t is said that
the charter granted at Harrisburg for the
Schuylkill East and West railroad has for
its object the formation of connection
between the Reading and Baltimore &
Ohio roads.
Semi-offcial sources say that the Bur
lington statement of earnings for the yea
and net increase for six months O
$1,370,OOO, or 80 per cent. At late hou1
the reports of the Atchison, Denver anC
Burlington passenger rate cutting against
the Union Pacific were confirmed.
In the action of the New York, LAX,
Erie & Western railway against James Nc
Henry, the court decided the motion of de
fendant for new trial. This action wa
tried here last April and resulted in yer
dict for. 1,497 900 for plaintiffs.
i prominent Western Union official Il