Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-08-14

preston. 1T is and will be long time be-
fore the Northern Pacific can pay dividends,
and its price should rule accordingly. in
stead of being SO much higher than the
dividend paying shares. It is understood
that President Willard has made ample ar
engagements to protect all who are associ-
ated with him. The Gould Southwesterns
were unfavorably affected by the reported
injury to the crops in their territory.
The earnings of Omaha for the first
week in August increased $4,000. Union
Pacific the first eight days in August de-
creased $4,000. The market closed very
feverish without any rally. Reported sales
$751; 900 shares.
Western Associated Press.
New YORK, Aug. 13.-Much surprise
and CONSERVATION exists among the bulls
of the stock market concerning the steady
declination of the market which has been
going on for the past week. About two
weeks ago stocks fell with a thump, but
before day passed the marked had recoy-
cred itself and all fear was dispeIled. The
average of the depression at that time on
all holders OF stock was nearly 40 per cent,
when brokers and bankers averred
there was really no cause for
the fluctuations as affairs
throughout the country we're steady and
money was plentiful This second furry
is, therefore, deemed inexplicable. AS
first kilograms had been received from
Europe asking the reason for the decline
one we'll known broker cabled back: "Ask
US something easy" Drexel, Morgan &
Co., said this morning: ave can give no
other reason for the heavy market
except that there are more
sellers than buyers H. S. F.
Stanton, stock broker, said the trouble can
be traced directly to Jay Gould who is de-
vising to get control of the Willard stock
consisting of Oregon Transcontinental and
Northern Pacific railroad and OREGON
Steam Navigation company. These stocks
are said to represent interest valued at
$350,000,000. Northern Pacific preferred
and New York Central and st. Paul stock
have not been raidsd SO as to affect their
position; Northwestern, Lake Shore,
Union Pacific and a few
others have been run into, caused, it is
said, by orders from the London market
at the Office of Fisk & Hatch. It was said
the low prices may have attracted orders
from London. During the past month
Western Union has fallen about six points,
Northern Pacific has fallen about ten
points, and in fact the shrinkage is notice
able in all dividend-paying stock.
New YORK, Aug. Endorsements lower
for As and AIS. Railways fraction bet
ter for some issues. State securities dull.
The stock market opened very nervous
and from 4@1R per cent. lower than the
closing prices Saturday. There was i'm
mediate and active selling by good many
holders of long stock as we'll as by bears,
and in the first thirty five minutes a fur
Their decline occurred that ranged from
$8@312 per cent, the latter on Omaha
common to 371l. For the next fifteen
minutes there was q firm feeling, and
there was an upward reaction of I@1T
per cent, the latter in Western Union to
II. Part of this recovery (I@M per
cent, the latter on Jersey Central and
Oregon TranscontinentaD was, however,
lost in the next twenty min
utes, though the market re-
manned comparatively steady at
1890 o'clock, and some stocks were run I'D
on to the opening prices of the day, viz.
LackAwanna, Western Union, Missouri
Pacific, Canada Pacific and Denver All
other stocks were lower than the opening
prices, and all stocks on the list were
below the closing prices Saturday.
The transactions the first hour and
half aggregated 100000 shares. After
1870 a savage attack was made upon the
market, the force of which was directed
against Oregon & Trarscontinental,
which was steadily hammered by sales of
about $4,000 shares from ga at 1890
down to SO at about 1870, but from which
itrapidly reacted by 2 o'clock to 81. Out
side this stock the decline in an hour to
1.3O was q to 81 per cent, the latter in
Central Pacific to 6215, Richmond & Dan
Vile 311S to GO, Northern Pacific preferred
3 per cent. to rs, IL on common to 3958,
2A on Union Pacific to S615, IL on
Omaha to 362l, ~ on Louisville & Nash
vile TO 45, ~ on Lackawanna
to L.2o, ~ on Texas & Pacific
to 25, ST. Paul IL TO 9915, New York Cen
trail ~ TO 1872, Western Union 1$5 to
1928, 138 on Missouri Pacific to 9315, 135
on Lake Shore to 1888, II on Canada
Pacific to 5224, II on Kansas and Texas
to 81 per cent. on Denver to 81, per
cent. on Jersey Central to 50, and 4 to a
on the remainder
From these extreme declines there was
pretty general recovery before two
o'clock, which in the case CT Oregon d
Transcontinental, as stated above, was >
per cent, and from = to 138 on the re-
mainder of the list. The recovery, now
ever, left prices largely below the prices at
1890. In the last hour the market was at
first weaker, and there was further de-
cline of per cent. on Northwestern and Ii
to 13s on the remainder of the list, the
latter in Northern Pacific preferred
to 1873, and st. Paul to 9S%
and a on Oregon & Transcontinental
Between 2:3O and 2:4O there was a re-
covery of a to 1 per cent, the latter on