St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-10-10
NEW YORK.
Especial Telegram to the Globe !

W NHS
New YORK, Oct. O. The stock market
opened weak, with the exception of Union
Pacific which advance point under the iniu-
ence of heavy buying by leading
bulls S. V. White bought 5000
shares of Union Pacific at Sc.
TWAS stated that the Reading had determined
to break the lease with the Jersey Central, but
President Little said he had no official informa-
ton TO that effect. In any case, he said there
were other roads which stood ready to take the
lease on the present terms. Transactions in the
balance of the list were on limited scale and
the fluctuations unimportant, though prices were
very well sustained. Omaha rallied a little
from the depression of Yesterday.
but Manitoba continued ON its
downward course until S4H was reached.
Telegraph held its own and the effect of a lower
rate OF dividend appears to have been thoroughly
discounted. Pullman crawls up a little as divi-
dend day approaches. Sales to-day were at
1855. The proposed new deal in Louisville &,
Nashville caused but little change in the stock.
1t was quite strong in the early dealings, though
later 1t fell off trife. Parties intimately assoc
ciated with trunk lines say that the Pennsylva-
MAS notice to the Baltimore G. Ohio, that it can
not haul its trains, is the first gun in
a very serious fight unless the matter
R'N'~ASeA
senger rates, but it will soon also extend tc
freight. Already there are threats of a line OF
steamers between New York and Baltimore by
which freight would be taken to and from all
western points at sharp cut rates. The Baltimore
u Ohio has lines into St. Louis and in this wav
would demoralize the east and west freight trof
hc Won Hoffman 81 Co. say that the advance in
the Bank of England rate has stopped the
movement of gold to this side. There have
Deen large settlements for Credits which
have made the exchange market frmer, but at
THIS the beginning of the shipping season, thew
expect that rates will 90 lower in a few DAYS. as
a large number of commercial bills ought To
come in. They have $500, 900 gold on the way to
New York and know of $3.50, 900 in addition to
the S250,OO0 received on Saturday by Plock g.
Co. Kidder Peabody & Co. have reduced posted
rates of sterling to S4.S2 and S485. The bulls
are jubilant because the market did not
go lower under the grist of bad
news yesterday, and claim that a
steady advance from now on may be expected
Bull pointers are freely given out this morning
on st. Paul, Northwestern, Union Pacific and
Paclhc Mail. The Chicago, st. Paul, Minneapo-
lis 81 Manitoba has given the required thirty days'
notice of its intention to issue IA, $50 shares Of
preferred stock and 90, 739 shares of common
stock upon 13s miles Of new road. Otto Plock
the representative of the Erinnger system Of
railroads, says that the Erlanger properties are
doing an increased amount of business bpt
owing to low rates net earnings were not salts
factory Gould sold a put on Union
Pacific for 5000 shares this morning
at fifty to sixty days at per cent The trans
action day had but little significance. Out
siders appear to take but little interest in the
course of stocks, and until they do but little
change for the better be expected Easy
money is an assistance to the clique, though they
do not make much at present in the way of loan
ing their speciaIties. Jersey Central broke badly
al the finish, and the market throughout was in
cined to sell of a little in the final dealings.