Daily globe., 1883-08-04
NEW YORK.
Especial Telegram to the Globe. |

Especial Telegram 10 the OlOUe
New York, Aug. 3.-There was a frmer
tone to the market this morning. No par
ticular demand for any amount of stock
was noticeable, neither was there any de-
sire shown to depress prices by leading
bears of the exchange. The day has been
a decidedly dull one, and free of rumors
calculated to influence prices much either
way. Northern Pacific preferred sold at
SO during the morning, and there was con-
siderable strength in the Vanderbilts. The
coalers and the grangers in the last hour
quotations were few and far between.
There was absolutely no business doing,
and changes in most instances were slight.
AS a general thing prices at the last show
but little change ( from those
of last evening. ust at the close Western
Union, which was pretty we'll held at 80
all day, declined to 1871 and there was
slight yielding in values throughout the
list. The earnings of the Northwestern
road during the fourth week of July show
ah increase of $8,7OO. Day, Field & Col
born said Western Union opened weak,
the selling better than the buying,
prominent house marketing 5000 shares
of long stock. There was inside buying of
Missouri Pacific, Northern Pacific prefer
red and Oregon, and these stocks were we'll
sustained. The general market was a lit
tie more active and quite firm during the
first two hours. From that time until the
last hour it was dead and dull.
1Ho nj 4bo
Johnnes, Tickner & Slayback. Flower &
Co. bought 1000 shares Omaha preferred
at los. st. Paul earnings for the fourth
week in July increased $112, 900. Sub
scription books for new telegraph COM
pany have been opened on the New York
produce exchange. The Reading manage
ment announces reduction of $1,OOO,OOO
Fer annum in the expenses of Jersey Cen
tral.
A shrewd broker thus sums up the stu
| alton: "Dullness personifed remains tri-
umphant at the stock exchange, and it will
reign until the stock exchange cleans house
| and pures itself of one-half If not more of
the rotten, decaying, played out securities
| that have done so much to bring stagna-
tion, privation and perhaps ruination to
the doors of not few of its members.
People ask for remedy.
The remedy can be found just
| here. 1t stands to reason that the stock
exchange as a business resort ought to
follow the example followed by every other
trade and industry. IT is a necessity to get
rid of old and worthless stock that will not
| sell. To-day's market was a reflex of all
others. Up to noon only $4,000 shares
were dealt il. This number among LOO
members shows plainly that business in
stead of improving or even remaining as
it was is still degenerating. There was no
life, no attraction, no feature. The market
managed to be kept steady and that was
all. The Northern Pacifcs have maintain
ed the strength lately exhibited. There
has been rumor of an approaching break
in the price. But nothing in the stock
itself has indicated any weakening in the
| support. rumor is current that an Eng
lish syndicate has secured an option on
| Oregon Transcontinental, and that mem
bers of the syndicate will attend the open
ing of the Northern Pacific road in order
to take a look at the property. If they are
satisfied with the property it is supposed
that they will take their option, other
wise not.
The Graphic says: 'There is a growing
expression among railroad men that the
Vanderbilt party has encouraged the de-
| cline in New York Central and are de-
sirous of seeing it sell below Lake Shore
for the purpose of preparing the way for
a consolidation of the two companies.
which cannot be accomplished so long as
New York Central is selling higher than
Lake Shore. The bulls say that if the con-
solidation can be accomplished it will be
the start of a big bull movement in the
Vanderbilt stocks"