Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-11-23
NEW YORK.
Especial Telegram to the Globe

lSpeCihl IeltardIl 10 tn6 0lODe.
NEw YORK, Nov. 22.-Mr. W. H. Vanderbilt
was seen in Wall street soon after O'Clock this
morning. The room traders jumped to the
conclusion that he intended to buy stocks, and
accordingly they opened the market strong It
soon became dull, however, and showed dis
position to sag. Union Pacific in particular
was weak and lower, selling to s65S on talk of
decreased earnings. There was some buying of
Chicago, Burlington & Quincy during the
morning for the dividend which comes
on the 26th. Reading was also a
feature of the market at the opening, the price
being per cent higher on the resignation of
Gowen, with but little stock offering. Morris
Brown was prominent buyer, but it was no
until near the last hour that the bulls made any
impression. Some good buying of the grangers
Lake Shore, Reading and Oregon Trans CONT
mental changed the complexion entirely, and
though rather dull stocks were quite firm for a
time, though several tipped over before the fin
ish. Lake Erie & Western was fairly active sell
ling up to 26. The advance in the grain
market and reports of damage to corn by con-
unued wet weather were discussed In Wall street,
and assisted in checking the demand for stocks
to some extent. In st. Paul willard sold AID
Stephens bought. la Lake Shore the buyers
L d
Lackawanna I. HENDERSON bought, and the sell
lers we're Lines, Quisl ~ end A. A. Drake. Olt-
man sold Erie and Ws:t bought. The brokers
generally agree thet Notwithstanding the
excessive manipulation, the market
at present is very evidently slightly oversold,
and stocks are in good demand IL borrow. Some
Of the sharpest shorts, therefore, covered up
last evening just before the close, not liking the
appearance of the decline, and they hold that
the general active list is probably more over
sold than the unfaverable condition of outside
matters justifes They say the only factor of
Importance yesterday was the operations IL. st.
Paul. Osbone's psople manipulated 1t con-
slderably, it is supposed for the Standard Oil
people, but Is. V. White was seller
tn the extent Of about 1000 shares. The Van
derbilt party bought good deal of Lake Shore
yesterday, and this stock is said to be VII tualiy
pegged at par.
W. L. Scott says the Northwestern raj road
directors are to meet here next Saturday, when
the usul dividends on these stocks and Omaha
preferred will be declared He is great bear
on stocks III the general market, mainly because
of the extremely unfavorable condition of all
sorts of business in all direct cas-. He
declares the depression in trade circles in the
interior is greater than he has ever known De
fore. He believes Union Pacific will sell 1T SIC
this year, and swears the Wabash stock are ut
terly worthless.
Ooun4dCh says IIe5lueuU 1JOFelOy, OF the
Denver, says the traffic of this company has in
creased fully 70 per cent, and the road Will be
IN nrst-ctass shape as soon as the bridges now in
course OF construction, built to replace those
swept away by recent fresbets, are completed.
He also says the Missouri Pacific business
Is all cut to pieces and this company has been
Obliged 70 reduce transportation IN some cases
from 81 to 25c per 100 pounds. Ladyard, of
the Michigan Central, is buying a large amount
OF steel rails, and thinks they are as good spec
ulative purchase to hold for twelve months.
Mr.. Morgan bought some stocks yesterday
He and the Mills party say they don't believe
the Iowa pool lines will cut rates.
Judge Wallace has dissolved the injunction
against the Northern Pacific record
mortgage bonds in the Daponte suit
and vacated the restraining orders
in the Bradley suits. Judge Wallace's deeis-
ions make the second mortgage bonds an accom-
phi shed fact. 1t is stated that now all matters
pertaining to the issue of the bonds have been
fully arranged. As the Northern Pacific com
panY will be able to settle its indebtedness to the
Oregon Transcontinental it is given out that the
latter com pany will shortly issue en- elaborate
statement.