Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-11-14
GLOBE MORNING.

attack by the bears to-day and yesterday was
Canadian Pacific, and as part of this policy the
statement is made by morning paper that the
Canadian Pacific company, by the terms of its
charter, agreed to take and "pay'' for whatever
road the Dominion government might have al
ready completed. The Evening Post, on this
subject, says: ''From careful reading of the
company's charter and the submission of it to
the judgment of competent attorneys not in the
interest of the company, we are unable to find
anything to give color to the statement. On the
contrary, by the terms of the charter the Do
minlon government makes an outright donation
of over 700 miles of completed road to the COM
pany, besides the land grant and money sub
sides. In regard to the guarantee of 8 per cent.
minimum dividends on stocks, we are Informed
upon what we believe to be trustworthy au-
thority, it is to cover all outstanding stock of
the company except such portion as is deposited
IN keeping of the government, whether the
amount SO outstanding be S65,000,000 OF $751;
100000, or any other proportion of Si00,000,000
of stock which the company is authorized by
its charter to issue. This point, however, will
probably be more definitely stated by official
announcements before long, both from the COM
pany and the government. II the Dominion
government, backed by British capital, has
taken up the idea that as a political measure it
is desirable to have transcontinental railway
entirely on British territory, there is reason to
expect the project will be carried through and
that the government will not hesitate about the
matter of guarantee Union Pacific heavy on
rumors that the forthcoming government re-
port will show that ''the local traffic has in
creased and the through traffic fallen off, on &C
count Of competition" 1t is also said the
earnings the past two months had decreased
$1,000, 600 as compared with the previous year.
In the afternoon under purchases for account Of
the pool in Delaware, Lackawanna & Western,
the market moved up rapidly. Near the close
speculation weakened under reaiizations and on
reports of failures in the wool and hide trade at
Chicago and prices reacted NON per cent.
from the highest point. The sharp Use and
great activity in Delaware, Lackawanna l. West
esn was attributed in some quarters to the efforts
Of tho Vanderbilt party to resume control.
Louisville & Nashville noticeably stronger
on the large increase in the earnings Of the road
the first week in the current month. Canadian
Pacific was drmer than yesterday, owing to the
official statement that the contract for guar
antee of dividend on stock by the Dominion
government was signed Saturday. The Willard
stocks advanced on decision 'ef Judge In
graham denying the application of Field for
mandamus to compel the Northern Pacific COM
pany to produce its books. The official notice
has been issued for a meeting of stockholders
the Goth to vote on the proposed issue of S20,-
000, 600 Of second mortgage bonds.
The transactions aggregated 399, 600 shares:
Canada Southern 1000; Delaware, Lackawanna
& Western ISL, 700; New York, Lake Erie &
Western $4,000; Missouri, Kansas i Texas
al 900; Lake Shore $4,000; Louisville r Nash
vile 1900; Michigan Central 5000; Chicago
Northwestern 10000; New York Central
1000: Chicago, Milwaukee st. Paul $1,000;
Texas Pacific 5000; Union Pacific $1,000;
continental 10000; Canadian Pacific 5000;
Northern Pacific 5000; Wabash, st. Louis 4
Pacific preferred 7,O00; New York & New Eng
land 1000.