Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-09-12
NEW YORK.
Especial Telegram to the Globe.

NEW YORK, Sept. 11.-Wall street was
black with frost rumors this morning, and
IN the stock exchange the entire list open
ed lower, but there was no pressure of
stock and no feature. The boom which at
tracted so much attention in the closing
the cool hours of the night. Prices eased
off slowly, and then worked backed to q
little higher level during the first hour,
and the market settled into dull steady
condition. Toward noon the bears came
in with new batch of frost reports, from
which it seemed there could not be stock
of corn left. Parties who bought Saturday
and yesterday appeared not to be selling
The market continued dull and the bears
kept up their hammering and during the
last hour Johns sold ST. Paul down to
10438, Smith & Woerishofer selling the
list causing general decline throughout,
closing steady near the lowest figures. 1t
is thought Gould also took hand in sell
ing. The fancies were prominent in the
decline. The Louisville d Nashville slip
pSo OA ~ LILO AohSOLo uh0 fAlAdLNo
were also heavy. The Vanderbilts, es-
pecially Michigan Central, seemed want
ing in support. The principal transac-
tions were in the grangers, Wizards, Louis
vile & Nashville and Denver. Coalers were
inactive and steady, Union Pacific droop-
ing. There was no pressure at the close.
Canada Southern the first week of Septem-
Der increased in earnings $4,000. st. Paul
the past week increased in earnings $91,-
600. The cutting of rates by the Wabash
line to Council Bluffs was discussed, and
the bears sold the stocks on it. Improve
ments followed the early depressions, and
later in the day the Gould properties be-
came prominent in the advance, Texas and
Missouri Pacific leading, with good busi-
ness in both. The Coalers were firm. with
but little change. Jersey City,
it was said, would retire their
income bonds and issue debenture bonds
instead. One Of the bear rumors on
Louisville & Nashville was that the float
ing debt was now about S5,OOO,0O Dis
couraging reports from grain houses as
sisted the downward movement in the af-
ternoon. Central & Hudson, Northern
Pacific preferred and Jersey gives evi-
dences still of being largely oversold, and
loaned fiat to-day. There has been a de-
mand for Northern Pacific, and there
seems to be growing desire to sell the
stocks of the northern lines and take hold
of those not liable to injury by weather
freaks from now on. The expectation OF
higher figures was not to be realized to-
day. Business in the exchange
became very dull. Nearly all the traders
big and little, are bulls, but they found
that they had about as many stocks as they
wanted to carry. and having shut their
ears to reports of damage to corn, waited
for the public to take the stocks off their
hands, but the public did not come in this
morning. Orders to buy were very scarce
and having waited reasonable time and
getting no engagement, the bulls began te
realize slightly on their holdings at slight
concessions. This resulted after little
in considerable pressure to sell. and 8
general decline snsued. The bulls called il
a healty realization. The bears have
shown bolder front to-day, but the bull.
are still the stronger party and the mar
kets will probably not be allowed to 90 al
to pieces as they did last month. The bull,
in Western Union are active and Intend
to advance prices. They say the annua
report will be unexpectedly favorable, ani
points are given this evening to buy tn,
stock. Sage, Morgan and ct her bulls sup
ported the market, while Osborne d
Smith were among the buyers in the after
noon. The squeezing of shorts and Dur