St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-11-20
NEW YoRA.
lspeeIai Telerram d ths Glohe 1


NEW YORK, Nov. 19.-The stock market
opened irregular, some stocks being 1z@3kc
higher and others 1sG5lc lower. At first the
market was not active and the range of QUO
tations was narrow, but after the
first hour an upward movement
set in under the lead of Lackawanna,
which advanced rapidly to 1O7L
Union Pacific seemed 10 be in the dumps
and kept in the back ground, while Northern
Pacific preferred was good deal more prorni-
nent than usual. In fact, the undertone of
the whole market was in the direction of
stubborn strength rather sloppy weakness.
There seemed to be a sort OF grim, bulldog
determination 10 put the market up ANYHOW.
whether it wanted to go or not, and accord
ingly values were pushed slowly higher
Union Pacific reached 500, Northern Pacific
preferred 421E, st. Paul 1635, Northwestern
$50, V&tern Union 6o3S, New York Cen
trial $50, Lake Shore 6s, Missouri Pacific "a
Delaware & Hudson S93l, and Pacific Mail
50. Deacon White said he looked for better
prices and thought the market was firm. A.
Vanderbilt broker thinks the bear
leaders have been playing the market
both ways for some days trying
TO cover, but they were closely
watched, and whenever they sought to buy
the market was put up on them. The Gould
party were credited with buying Union Pa
cifc, while Gould himself was thought to be
selling it. The question now is whether
that road will resume the payment of dlvi-
dends at the end Of the first quarter in 1885
or wait until the expiration of the second
quarter. Vanderbilt and his followers are
said TO have been buying New York Central
and Lake Shore ever since the war of rates
began, and this accounts for the strength
displayed by those stocks of late. The div
idend on New York Central will not be
passed, it is said, not that the road has
earned the money, but IL it should be passed
the stock would cease 10
be an investment security and
this would bring on the market a large
quantity of its bonds now held by the Con-
necticut Savings banks and other institu-
lions. About $40, 900 worth of West Shore
bonds were sold yesterday, and there are
orders TO sell another large lot should the
market go any lower. 1t is thought that the
business of the Central Pacific will be in
jured by the completion of the Oregon Short
line, and hence that stock is weak. The
amount Of money Reading is trying to get
out of Jersey Central for improve
ments is sl,0OO,00O. German houses
were said to be selling Lake Shore
aud New York Central this morning.
Round trip tickets at cut rates to Chicago
and ST. Louis, were withdrawn this morning
by the warning New York roads. The Lake
Shore statement for the quarter ending
Sept. 80, shows an increase in the bonded
debt of S3,000,000 The Northwestern earn
ings for the second week in November de-
creased about SO, 600. The Texas Pacific
bondholders did not succeed in making sat
isfactory arrangements with Mr. Gould.
The bears were rather left in the lurch and
they covered considerable stock in the clos
ing hour. The feeling at the finish was
quite buoyant and stocks looked as though
they might do better to morrow.