Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-10
NEW YORK.

Especial Telegram to the Globe.
New YORK, Dec. s.--To-dey's market has
been a disappointn ent. 1t was generally
expected that a considerable rise in prices
would take place this morning in conse-
quence of the probable breaking up of the
tripartite alliance OF the Union Pacific,
Chicago, Milwaukee & ST. Paul and Chi
cago, Rock Island & Pacific companies,
but although the opening was somewhat
higher than the last nights closing, there
Was very little gain. During the morning
prices simply remained slow and steady.
There was some covering of shorts but very
little buying for long account, and the vol
ume Of transactions was small. The bank
statement showed decline in the reserve
of $1.528, 225, but this had little influence.
The outlook, however, is not encouraging
to the bulls. Prices seem to decline more
readily than they advanced. The Gould
stocks appeared to be fairly strong. Den
yer advanced little at the opening and
held the gain quite well.
1t is reported that Cammack has cover
ed up his shorts in st. Paul. New York
Central declared its regular dividend OF 2
per cent. The books close Dec. 18th. The
Lake Shore directors will meet
in a few days, and it is saiG
will declare their regular dividend. Both
companies will make most favorable
showing.
The market reflects the disposition of
brokers and operators alike to await the
settlement of the Iowa pool difficulties,
and the appointment of the different COM
mittees by Mr.. Carlisle. 1t is understood
that the Northern Pacific has received cash
for 100000 of the second mortgage
bonds taken by the syndicate of bankers,
and has that amount in its treasury now.
The hand of Vanderbilt in Reading was
again shown yesterday and to-day. 1t was
reported yesterday, with what truth it
is impossible to discover, that he had
some of his own experts over to examine
the books of the Reading Railroad com
pany to find out if Mr.. Governs story was
warranted, and if the company had really
earned the 6 per cent. on the stock claimed
by him, and that upon their report he had
bought more stock. However that may be,
your correspondent has traced one large
order to buy in this market to brokers
who operated in the Vanderbilt interest.
but there is little doubt expressed here that
Mr.. Vanderbilt has taken in at least 10000
more shares of Reading in exchange Cor
the Northwestern stock that he has sold
during the last wesE. To day it is gwen
out on pretty good authority that the Van
derbilt system of management by the ex-
ecutive committee is to be introduced into
| the Reading, and that Mr.. Gowen is to be
made chairman of the executive commit
tee to be appointed by the new board. This
Will make him virtually the highest author
ity in the road without compelling him to
attend to the detail of signing his name as
president. II is said that the stockholders
of the Buffalo, New York Il Philadelphia
railroad will hold a meeting Dec. 81 to in
crease the debt $3,7O0,00O, of which ST.
100000 will be used in the purchase of ad-
ditional terminal facilities and equip
ment, the remainder to be kept in the
treasury. A syndicate has been formed to
take the new bonds.