St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-18
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NEW YORh.
Especial Telegram to the Globe. I


NEW YORK, Dec. 17.-Deacon White Is
giving the street something to talk about in
his ostentatious raid upon Delaware, Lacka-
wana d. Western. He has written a letter TO
the stockholders, declaring in an oracular
and mysterious way, as If TO give the i'm
preston that he knew a vast deal which he
could not divulge, that he has sold all his own
speculative line Of Lackawanna, and bas ad
vised all his customers 10 go and do likewise.
Snow, / believe - said member OF the Lack
awanna crowd, "that the willy deacon Is aiming
at getting ont good short interest in this pet
stock OF his and then 10 give il a squeeze
The stock is suffering some because all the
coal roads are, aud. while it is not so much
dependent on coal carrying as some others,
it gets a large income from its mines and
trade. Another drive was made at Telegraph,
carrying it TO So. There is a rumor that the
Standard Oil company holds large amounts
of it, and that eventually it will pass into
their hands, coupled with the Bennett
Mackey combination. The market was dull
and uninteresting during the greater part Of
the day. st. Paul showed a gain in earnings
for the second week in December of about
$7,700. d. P. Morgan, In Washington and
Slay back, in New York, We're said TO be man
aging pool in 81. Paul, and both the Grang-
ers and Vanderbilts were booked for an ad-
vance. There was heavy selling of ST. Paul,
however, by leading operators. It appeared
uphill work advancing the Changers, and
Chicago, Burlington 81 Quincy, and Rock
Island failed TO hold the advance Of yester-
day, Soutter &c Co. were large sellers of
Telegraph, and Boston sold it iu no small
amounts. At about 80 O'Clock there was a
perfect stampede in it, large blocks being
sold by Prince 6 Whitley, w. c. Sheldon,
Scranton 81 Willard, r. j. Kimball and the
Vanderbilt brokers. r. S. Elliott & Co. sold
1000 shares at 595s, and minor bears have
been covering in short lots. There are
stories concerning the probability Of a strike
of operators, and the raid has been made on
reports Of decreased earnings, and, assisted
by the selling Of long stock, is now being
pressed by room traders. Vice
President Sykes, of the Northwestern, saws
the earnings of this company for the last
week will be made public tomorrow. He
says he awaits mail advices. The increase
over last week win be handsome, but not so
much as $4,000. In the midst of all the
troubles of all the other properties Pacific
Mail alone seems to be having a comfortable
time of it and to be earning dividends. 1t
is said that during the last quarter the COM
pany earned enough to pay to per cent.
dividend for the three months, The di-
rectors have voted to pay off the indebted
ness to the Panama railroad, but, as the loan
is at per cent, and as the interest is higher
than the railroad can get anywhere else for
its money, it is probable that it will not ae-
cept the fund faster than at the contract rate,
$40, 600 per month. Stocks looked very sick
toward the finish. They tumbled like row
of brick. There was considerable excite
ment and the feeling was quite feverish. st.
Paul touched 735s. The rallies at the last
were feeble. There were reports of failures
which were not confirmed. The market
closed very much unsettled. Delaware &
Lackawanna declined over 8 per cent. from
the opening sales