St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-10-07
NEW YORK
Especial Telegram to the Globe

Especial Telegram to the Globe
New YORK, Oct. 6.-Stocks opened strong
and the feeling on 'change was rather bull
ish. Bear operators, however advised their
customers to hold off until after the result
of the Ohio election is known. 1t is ex-
pectcd that matters will then be little more
settled. Among the gossip bull pool has
been formed in St. Paul in a number of
Scotch capitalists. There seems to be good
deal of strength in the Changers, but it is
claimed that they are heavily oversold, par
ticularly the Northwestern, and it is argued
that there can be no permanent boom until
stock is evened up and people begin to ex-
hibit confidence in it again. The report
passes current that Jay Gould is quietly in
creasing his holding of Union Pacific 1t is
claimed that he has not been selling any of
this stock for some time, and it is presumed
that he considers it good thing. The de-
cline from 1870 in 1881 to 30 last spring is
something unprecedented, excepting alone
the Denver 81 Rio Grande road, which drop
ped from 4 to ~. Gould's brokers are in
clined to be bearish for quick turn, though
Gould openly gives 1t out that be is bull on
the whole list, at say sixty days from date
The iron interests do not seem to improve,
and on the whole, appear to be duller than
for some time past. 1t was reported this
morning that the Grand Trunk had secured
control of the West Shore road If this is
true the Grand Trunk will have a line of its
own into New York city, making it one of
the most important trunk lines to the
east. The Grand Trunk now receives
IA per cent iu the east-bOund pool, but In
case the West Shore deal should prove fact
a reapportiOnment of percentages will likely
be demanded. The absence OF outside trad
ing aud outside influence makes it an easy
matter for operators to manipulate prices.
The bulge to-day is by no means an evidence
of returning confidence, but the bull party
have sent out feelers in order to make the
smaller bears cover at higher figure The
market to-day is an hour older at this time
than during the summer. In vacation months
the board opens at II O'Clock
on Mondays, and with the first week in Oc-
tober the regular routine of 10 o'clock open
ings begins. Cammack is down in the
street for the first time IN months today,
but he is doing nothing. He smiles when
he looks at Denver at 1917, as against ia
year ago. and yet it is said Denver is the only
stock the big bear has attempted ''to catch
long" Russell Sage, another old-timer, who
got tired during the hot weather and sought
the shades of Long Island during the
meetings Of the several boards of
which be is member, turned
up to-day. He has resumed the
put and call business in all his glory, but his
privileges are put very wide Of the market,
and he is not at all anxious for business. Its
noticeable that grain receipts by the NewYork
Central to-day are 14l cars, against So cars
OF all the other pool lines combined. Cen
trail closed Il better than at the opening.
There is small confidence in the Vanderbilt
stocks and free predictions of lower figures,
even in the face Of better prices for the gen.
eral list.
Erie is attracting great deal Of attention,
owing to the statement that
New York German banker and broker,
one of the Wormser brothers,
is in London to prevail
upon stockholders to give proxies TO be voted
against the Jewett syndicate at the annual
meeting. There is no denying the fact that
Vanderbilt is looking out for cheap side
track to the Central, and will purchase the
Erie If he can take advantage Of every forced
sacrifice. He is throwing an anchor to the
windxard also in the direction Of West