St. Paul daily globe., 1884-10-11
NEW YORK.
Especial Telegram to the Globe. I


New YORK, Oct. 10.-This has been the
dullest day of the week so far as stock spec
ulation is conc erned. The political excite
ment yesterday has its natural reaction.
Drunk on politics and sober on stocks, and
with the few hours sleep and time for re1ec
ton comes the realization that politics and
dollars are two different matters. In every
Office visited to-day the habitues are discuss
ing the great meeting held here yesterday af-
ternoon, and there is more betting OF the
political hances than investmant in stock.
Your correspondent saw one bet made three
minutes ago of 81 600 side, and for Chi
cago party, too, that James G. Blaine
would not be the next president of the
United States, if he lives. The meetings of
yesterday and last night having fired the
Democratic heart, there will be little busi-
ness and no end of political wisdom and
wooderaft on Wall street until
after Tuesday next, when Ohio
speaks. The trading in stocks in
the meantime is at fractionally lower prices.
The volume of business is about 25 per cent
Of the most ordinary day. II the vigilant
inspectors of election should on November 4
challenge 90 per cent. of the Wall street
brokers' votes, on the ground that they have
bets on election, they would come nearer the
legal objections to voters than ever BEFORE
and there will be many long and short faces
on the day after election. It is the same in
up town hotel offices tO-day-only more so.
There are branch offices that have direct tee-
graphic communication with their Wall street
z.srr.. ~ n II
or New York, or the majority in either. and
both states, and on the general result-any-
thing, If bet can be made. 1t should be
borne in mind that this fever, which has
come TO a white heat to-day, is not born of
political fervor, but OF the judgment Of care
full and shrewd experienced men of the
world, who bet not for the sake of an idea,
but for profit. Blaine's chances are consid-
cred by some Of them good enough to gamble
on, but the enthusiasm and energy comes
from the Cleveland supporters. These peo-
pie, who risk thousands on stocks in ordinary
times, and hundreds on horse races at all
times, see chance TO do Something in
the political line, and their interest begins
and ends with the result of their wagers.
The market was steady at the opening and
prices were in some cases practically higher
| than on last evening. a selling movement
| in the grangers and Northern Pacific pre-
/ ferred soon after caused a weaker tone and a
decline Of about a per cent in them. The
market then lapses into dullness.
There was sale Of Alton at 100, the first
! transaction in several days. Pacific Mail
and Union Pacific were well held, Notwith-
standingth exceedingly favorable reports
] publisheda regarding the latter, the ma
/ jority Of operators are chary
about touching it. St. Paul picked up
/ g little on the statement of earnings
/ for the first week of October, which showed
gain OF sl5.5oo, while Northern Pacific
stocks we're weak on an unfavorable show
I ing. An upward movement in Union Pa
7 CHIC and Pacific Mail gave a better look TO
I the market for 2 time. A weak spot cropped
/ out in the Northern Pacific preferred toward
the last St Paul dropped of again below
/ so. and the coal stocks collapsed The Van
/ der5ilts were steady, with very light bust
ness in them At the finish thee market was
exceedingly quiet and with few ex-
ceptions shares show shrinkage
from opening figures. Gould, Morgan,
aud their following are bulls on the
! situation. aad WoerishoGer. C0mmack &