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


the figure. Leading bond brokers in New
York, on being interviewed, declared the
subscribing bankers would not be able to
find market for the bonds at anything
near IS. It was rumored Willard had sold
his stock, and had bought it back again at
profit, while Billings D. o. Mills and
Pullman were said to be still hanging out.
Gould was reported to have bought 10000
shares of Oregon ana 10000 shares of Nor
thern Pacific. The Windsor bear party
held conference and decided that Union
Pacific was an easy nut to crack;
that Denver was not worth cent,
and that the coal cliques were
practically broken up. The Thomas Iron
company was said to have closed five pig
iron furnaces last week and would only
keep five or six open this winter, unless
the demand should improve. The Allen
town furnace, 1t was said, would blast out
this week their only remaining furnace.
Rumors of another impending failure in
the wholesale clothing trade, larger than
any yet reported, were circulated, and it
was not expected the firm in question
would be able to tide over the present
week. The buying of Northern Pacific
Over $4,000 shares. have changed hands,
and at the close the demand was good.
The transfer books of this stock
will be closed October 20,
and the story is that the cash
stock is being bought, and that heavy
sales are being made sellers option. By
buying cash stock the manipulators will be
enabled to vote it at the coming meeting
in favor of allowing second mortgage to
be placed on the property ahead of the
preferred shares. Some of the. stock to-
Day was seller 60 days. Union Pacific was
heavily sold. It is thought the greater
part of it was for account of e. N. Smith.
G. j. Hndson g. Co. were large sellers, and
apparently had bag full of orders if not
OF stock. Fl. N. Smith is special part
ner in the house named.
Clews said: eThe bears played their
death knell notes in st. Pan! during the
day, this stock having been selected owing
to the strength it has evinced during the
various raids made on that market. Good
and confident buyers of Willard stociis and
Northern Pacific preferred
came to the rescue, and succeeded in es-
tablishing amarked improvement gener-
ally. The short inter est has become
surdensomely large, and it is liable to be
an important factor in the market in the
event of the continuation Of vigorous
buying. Thh placing of new second
mortgage bonds of the Northern Pacific
railroad was the chief feature of the street.
Dre1el, Morgao & Co., are the fiscal
agents of the company and have taken
a large slice of the ISSUE" The prefer
red stock of the company amounts to
S41, 100000.
TO have the bond question decided fav-
orably, Willard will be compelled to have
lnder his control when the transfer books
close three-fourths of this stock or shares
over $30,000,0O0. 1t is not
known how large block he at present
but judging from the action of
she market he is doubtless short OF the
required amount. 1t may be well in this
to remind holders of preferred
stock in the Northern Pacific that stock
not voted upon at the meeting to be held
he 20th of November will be counted rs
against confirming the action of the direc
ors. The common stock Of the Northern |
Pacific was stronger. Willard, backed by |
he combination offensive and defensive |
which he recently made with Gould, Sage |
md other leaping bulls, has evidently
AIKEN hold to punish the bears who lately |
,ad picnic with the stocks"