Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-09-25
ASSAULT on WIZARDS RESUMED,
What GOES UP AND CORN DOWN.
NEW YORK.
Especial Telegram to the Globel


'change to-day was feverish, and the mar
ket excited, with pressure of the Willard
proI critics when the exchange opened, and
SO co. tinued throughout the greater part
Of TIE day. It was noticeable the serious
declos in Oregon Transcontinental and
the rthern Pacifcs affected the balance
of the list, which on Saturday was not the
case to any great extent. Transactions
were On an enormous scale. Northern Pa-
cifc referred touched G. amidst much ex-
citemeat. Rallies from this point occurred,
and he shorts covered large lines in Ore
gor and the Northern Pecifics.
During the afternoon the
balance recovered the depressions
of the earlier hours, and showed consider
able mness. At the last there were evil
dences that the friends of Mr.. Willard were
buying his stocks. An improvement in
them would be followed by an advance in
the general list, which has shown a
siren somewhat remarkable during the
attac and the shrinkage in specialties
HnACii nave LdhSA HldSO IL bAO RooS ~"
days. Chicago, Rock Island Pacific and
Omaha preferred have declared their usual
quarterly dividends of ~ per cent. Pull
man palace sold at 12815. Day and Field
say: There has been no new development
in the market to-day. The bear attack on
low prices made early in
the day. 4 demonstration was made
on Delaware, ,Lackawanna & Western, Union
Pacific Lake Shore and st. Paul, but did
not mt 5erealize. One of the best authori-
ties in Philadelphia wires that Oregon
Transcontinental is unsold in that market,
and sharp reaction is expected in the
Northern Pacifcs. There is not the slight
est doubt, however, that long stock has
been sold and where. it comes from is the
puzzle of the street. During the last hour
there was slow recovery in Wizards, and
outside stocks showed much strength.
The Vanderbilts closed especially strong.
The feeling at the close was decidedly
better than for some time past, and it is
thought rally is II order.
Jersey loaned at 1-32 for use. Milwau-
kee, Lake Shore & Western earnings for
the third week in September increased
$4,000. The professionals are having the
market to themselves and they are al
bears.
Herman says: st has been a repetition
of tina markets of all last week. Some Of
the leading bears let it be known that
LackawlnGa and Lake shore would be
raided to-day, and there was some selling
down Of these stocks, but the Wizards, as
usual, were far in advance of all others in
point of activity. They were persistently
sold, and fell to the lowest figures of this
most stremarkebl decline. There was some
good buying, especially of Transcontin
tal,and there was less long stock for sale, bat
the bears sold short fearlessly and carried
all before them. There was a considerable
rally at the close and in the opinion Of
some good judges these stocks have at last
touched bottom. If the Wizards improve
it is probable the whole list will follow.
The S,a takes bearish view of the sit
nation. tits money article to-day it says:
t'The past week has no more demonstrated
the correctness CT the predictions so per
sistectly made for months and months
past IN this column. The report of the
financial condition of the Northern Pacific
concern having been published, everybody
can read it and Judge for himself whether
there is likely to be any investment de-
mand for these stocks. If there can be
aone it is self-evident that liquidation must
continue still further, that no substantial
recovery in prices can be anticipated be-
fore this liquidation is completed. As
Vanderbilt would say IN his elegant
English: That is all there is to it, The
Generalization caused by the tumble in
Denver followed so near by the tumble in
Northern Pacific must naturally react on
all cliqued concerns, and 1t is now preva-
lent opinion in Wall street that the Van
derbilts and the coal stocks are to be the
next to faIl down will. The Lake Shore
will show considerable fall in its earn
ings for the current quarter, and the New
York Central the largest operating ex-
penses and fixed charges known in the
history of that road, if either make;
ANYTHING like truthful statement. Mr
Depew and Mr. Blanchard have done al
incalculaole amount of harm to the rail
roads they are connected with by theil
absurd arguments before the state railroad
commissioners. ANY intelligent person
who hclds stock in the companies will nat
aralIy rush to sell it out as soon as he hal
read the argument OF these two advocate
of secret financial manipulation and clan
destina management. Certainly no Euro
pean stockholder VIII have anything to d.
with the stocks if the talk of Mr.
Depew and Blanchard ever reache
him. Bulls are all losing none!
and are utterly demoralized, while th
bears begin to grow strong and are sur
to follow up their victory and to bring GU
investment stocks by means of hammerinl
them down in the board room. The Who'll
question seems to be which of the twj
groups is going to be attacked first, tn
Tsnderbilts' or Coalers'. IF the smal
bears have made money enough, and
men like Cammack, Keene and Woerishot
6 eer can come to an agreement as leaders