Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-07
NEW YORK.
Especial Telegram to the Globe. !

New YORK, Jan. 6.-There has been little
encouragement for the bulls to-day. The
principal activity centered in New York
Central and Denver, the former selling
down to 1858 and the latter at Az. The
bears finding no opposition, sold stocks
freely. At times the market became e1-
ceedingly dull. The bank statement
showed large gain in deposits, over $11,-
100000, and an increase in reserve of ST.
264,000. The Northern Pacifcs held up
remarkably we'll. The boom in the Nickel
Plate properties was of short duration,
and prices this evening place them where
they were at the close of 1882. The list
is generally lower than on Friday
and the activity which characterized
the dealings earlier in the week, and at
times caused sharp demand for stocks,
for the present seems to have disappeared.
Money continues easy. Opinions on the
immediate future are conflicting, varied
and mixed, with such Old time bears as Mr..
Osborn, D. O. Mills, Mr.. q. Smith and Mr..
Commack on the bull side. The bulls
are hopeful, but in the moro conservative
houses much caution is exercised in ad-
vising customers to buy. That Mr.. Wander
bilt has changed his mind, and will not
visit Cuba just yet is accepted as an omen.
1t is asserted that he has taken 100000
| new second mortgage bonds of the Lake
Shore road-not 100000. The bonds
| bear interest at the rate of per cent.
| and were authorized at a meeting held in
! this city on Tuesday, to pay for the Nickel
Plate. The breaking off Of the negotia-
| tions between Mr.. Gould and Mr.. Baker in
the Mutual Union case was expected to
| produce some weakness in the Gould
stocks, as brokers fancied that Mr.. Gould
would not bull his speculations until he
| has secured control Of the Mutual Union
! Friends of the Mutual Union intimate they
| will take no further steps toward harmon
| izingthe telegraph interests. Advances,
they claim, must hereafter come from the
other side. Insiders say that Oregon &
Transcontinental is very cheap on its msr-
its, and likely to advance two or
three points. The principal danger of the
market is that W. Fl. Vanderbilt, while
talking higher prices, may decide to dis
tribute his holdings. 1t is well known
that two months ago he was obliged to buy
an immense amount of stock to prevent a
disastrous break generally, and it is equal
~ well known that he has since manifested
desire to hold fewer stocks. The pecu-
liar look which the stocks that he is inter
ested in have shown for the past few days
leads to the suspicion that he is already
selling. The Vanderbilt stocks are not at
all strong, and Central and Lake Shore
have for days been positively weak.
In the absence of the general public any
effort to advance prices will certainly fail
if Vanderbilt is selling, and there is reason
to believe that while ostentatiously slap
ping Mr.. Smith on the back, and praising
the pluck with which he and his friends
have been upholding Lake Shore, st. Paul
and Omaha, Mr.. Vanderbilt has been sup
plying them quietly with his superduous
holdings of these stocks. The selling Or
ders, if trouble were taken to trace them,
might possibly tend to such conclusion.
As for Mr.. Gould's position, his
principal supporters at pres
emit are somewhat slippery, but
if they begin to run they will be apt to find
him not the last in the race. Consider
ing the weary months that they have had
to carry their holdings, it is not probable
that they will overstay their market now.
It is good time for the exercise of eau
ton. MIR. Gould denies that he has any
intention of making the Mobile & Ohio
any part of the Wabash system.