St. Paul daily globe., 1884-07-24
NEW YORK.
Especial Telegram to the Globe. |

Special Telegram to the Globe.
New YORK, July 23.-The latest dodge Of
the bulls was sprung to-day via. London.
and the bait was Louisville 81 Nashville,
which was whooped from the start, and 2M
per cent at the opening was succeeded by
a further advance of 5s, which put the stock
within the first hour 3% above yesterdays
figure. The air was thick with rumors of
London buying, and the movement was well
engineered, for the ''foreign" houses were
steady buyers of both stock and bonds. The
latter are said to be purchase for five or
ten points. According to special cable
dispatch it is estimated to-day that London
holds 1876, 900 shares of the Louisville 81
Nashville stock, out of 250,000 shares out
standing. The report is current that the
English holders propose to assume control Of
the road and transfer the headquarters to
London, where they can arrange their prop
erty independently, and without reference
to Wall street complications.
The Louisville q Nashville bulge lifted the
rest of the market, and prices are up all
around. st. Paul jumped up in price per
cent and closed 215 higher, Northwestern
the same, and Illinois Central 1. Union
Pacific went from 3515 to 3S, closing at 375s
Gould stocks went up per cent, but there
is small trading in them, and at the close
they had fallen back "a. The Gould party
seems content to allow them to drag along
after the rest of the market. In other words,
Gould does not propose to put his stocks to
the fore. There is no doubt that this is reg
ular Gould rise, played with a London mask.
Delaware q Hudson was marked up 215 per
cent, Lackawanna L 4, Reading II, and
the doisy card in the Vanderbilt listand was
showed 315 on paratively swell transac-
.tions, closing "a higher; Michigan Central
stopped at l a per cent. rise.
Henry Clews says the cholera scare was a
good thing and will drive American tourists
home and send over, besides thousands of
European nabobs. who will fear to stay at
home. All the money that would otherwise
be spent in Europe for pleasure, will be spent
here and the balance of foreign exchange
will soon come to be in our favor and hence
good times all around.
Boody, Mcclellan IL Co. say: 'iStocks
opened strong and active. There was good
buying all the morning, with better prices for
everything on the list The bears
were completely demoralized and have been
badly left They have done their best
for days past to wreck the market,
but have been defeated at every point.
1t now looks as though the opportunity to
purchase cheap stocks had passed. We may
expect reactions from the best figures of to-
day, but there will be plenty of buyers for
the Western stocks in all declines. Foreign
orders are on the increase and many of the
dividend payers are very attractive at presen
prices for investment. The markets dis
played considerable life to-day and commits
sion houses reported business improving.
Outsiders appear to be taking more interest
in Wall street affairs. Missouri Pacific
seemed to be allowed to drop for the purpose
of inviting short selling of it. 1t advanced
from 95 to 9718 with hardly an effort. In
the last hour the market displayed much
strength. Several properties were up to 2
to per cent. above opening figures, and the
buying came from all quarters for all the
leading stocks.