Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-09-20
NEW YORK.
Especial Telegram to the Globe. ]


NEW YoRk, Sept. 19.-On the stock ex-
change to-day the market opened very
firm in tone but exceedingly dull. Lake
Shore showed great strength and for a
time was we'll sustained at los. The gran
ger stocks and the Coalters were also par
ticipators in the good feeling. The Gould
properties were quiet and steady. Pa
cifc mail made a brilliant upward turn of
"a to 1874. Here the effort was paralyzsd
and the movement unsustained. About
this time the presence of the heavy hand
WAS noticeable in Willard properties,
which began to slip off guadually and easy.
Woerishoffer & Conmack were said to be the
prime movers in this work. 1t seemed very
how to work it with success, there was very
little hesitation in the decline from first to
last. During the last hour the activity in
creased, and the detection became more
general. Considering the decline in these
stocks the rest of the market is very steady.
No one seems to KIN ow reason for the de-
cline. The early declines in the Northern
Pacific and Oregon Transcontinsntal be-
low sixty -four about midday was damper,
and affected the balance unfavorably.
During the afternoon there was perfect
stampede in the stock, and also in the
Northern Paoifc's. The bears were
hilarious when the preferred
dropped to si1ty-nine at the end.
Everything was excited. At the last il
was impossible to sustain any stock. The
feature that the ball element became COM
pletely demoralized, and offered no resist
ance whatever.
The earnings of the Missouri Pacific
system for the second week of September
Increased $3.50, 0o0,9the Alton $4,000, the
Canadian Pacific $4,000, and the Louis
Vile & Nashville $4,000. Millions of
bonds were called to-day. Boston people
wired the failure of Willard Lewis, cotton
waste manufacturer, at Walpole. Liabili-
ties said to be $45C,OOO.
The st. Paul books closed Sept. 26th and
open Oct. 10. Northern Pacific earnings
for the second week of September in
creased $4,000.
1.-THE market at the close conferred in the
Willard properties. The Willard stocks
have been weaker than ever, and all sorts
of rumors have been in circulation calcu-
lated to weaken the confidence of holders.
We see good reason to infer insiders have
been selling freely. Tomorrow the an
nual meeting of the Northern Pacific takes
place, and the annual report will be made
public. 1t will show considerable in
debtedness to the Transcontinental com
pany, but it is not known it will contain
any other item likely to keep the bears.
1t is stated no dividend will be declared on
the preferred stock. The rest of the list
seems to have firm tone, but no one can
tell which stock will receive the attention
of the bears after they have finished the
Willard properties. Leading operators ex-
psct to see the Willard stocks sell lower
than ever tomorrow.
Al. Hoges, member of the stock ex-
change said: 81 don't believe the market
will go up or down two points from about |
these prices fer some time, but I think |
ultimately it is going lower. Gould is now
trying his hand at bulling the market and
be may succeed in getting the public in,
but they are very discriminating. I don't /