St. Paul daily globe., 1884-11-29
NEW YoRh.
lspecial Telegram . the Globe.

Especial Telegram 10 the Globe.
NEW YORK, Nov. 2S.-There were Just
about unfavorable rumors enough this morn
ing TO give the market set back. II was
generally understood that the showing for
the Lake Shore was bad, and the stock
opened with the first sale l per cent. below
Wednesdays closing figures. New York
Genital was in the same box. Then came
the announcement of bank failgTe in Mid
dletOwn, New York. This upset matters also,
aud the feeling was quite unsettled. The
grangers soon recuperated, however, and there
were evidences OF foreign buying in both
St. Paul and Northwestern. Kirkner was 4
free purchaser of Louisville Il Nashville and
Missouri, Kansas 81 Texas. The advance in
the first named was quite marked, and the
stock gained some 3 per cent. Another
strong feature was Minneapolis " St. Louis
preferred, and the Erie second bonds were
way up also. The market witnessed no such
excitement, nor was there the demand for
shares that characterized the dealings earlier
in the week. The cliques seemed satisfied
to keep their favorites well in hand, and the
bears were not inclined to be at all demon
strative. There was a sale Of Pullman at
Ill.
There is nothing new in the railroad war.
Tickets to Chicago are SS.67 by the West
Shore and $3.50 by New York Central, which
is the differential rate. One Of the largest
holders Of West Shore says the bondholders
are united on one point absolutely, and that
is to buy in the road at the foreclosure. There
is no plan Of reorganization under discus
sion. The road cannot be recognized until
after a foreclosure some time after Jan. L.
There is no doubt that it is the feeling of the
bondholders TO keep up the war until after
the foreclosure sale, so that they can get the
road at better figures. The New York Cen
trail sees the point, and coppered it long ago,
and it may be found that there is a great
deal of Vanderbilt ownership of bonds when
the finis comes. The agreement among the
general passenger agents at Chicago has no
effect upon rates here, and If the pool buy
up all the round trip cut rate tickets in the
Chicago market, they are likely to find lot
Of them before they get through, unless the
West Shore weakens.
The annual statement of the Lake Shore
shows that its bonded Indebtedness has been
increased during the past nine months So
100000. During that period dividends have
been paid to the extent OF per cent. while
the dividends earned only amount to .. "a
per cent. Brandon was the heaviest buyer
OF stock on Wednesday, but this morning he
gives it out as his opinion that there is
nothing substantial in the present advance.
He thinks it is caused by the plethora of
money pressing for investment. Gould and
his brokers are still giving out pointers on
the bull side Of Union Pacific, but brokers
generally think Gould is long of his stock,
and wants to unload before the opening of
the coming session of congress Deacon
White and party are said to be selling Lack
awanna and Gould Union Pacific. Wander
bilt was said to be hopeful and looked for
higher prices between this time and Decem-
Der 10. Advice was given to buy on the
breaks. The market acted rather tired dur
ing the last hour and prices dropped of
throughout the list. At the finish the feeling
was rather weak. The final quotation on
Delaware q Hudson is ex-dividend I9< per