St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-03
NEW YoRh.
lspeelal Telerrem = the Glohe. /

New YORK, Dec. 2.-The stock market
opened irregularly, some stocks being HC0s5
per cent higher, and others u lower. Lake
Shore was ia the lead, and Union Pacific
second. The market early was tolerably
active and strong under good buying by
shorts in the two stocks mentioned aud also
in st. Paul. The evidences OF pure manipu-
lation, however, were clearer than ever, and,
as a consequence, everybody vas more or
less mixed on the market No one knew
exactly who was bullng It or on what
grounds. Nearly every active stock has its
own pool, and. as there are so few stocks
dealt in, It is not a hard matter TO keep these
few well in hand. Parties who bought when
the rise first commenced have all sold cut,
and brokers advise the taking Of profits AS
soon as one can yet them. Nobody has
any great confidence in the stability Of pres
ent prices although the bull clique have sue
cecded in keeping the market up thus Tar III
accordance with their own sweet viii. Yet
the bears are growing bolder each day, AID 2
sharp reaction Is in order. Chicago parties
have been selling the Grangers, in snticipa-
ton of a break. Louisville d Nashville has
asked the stock exchange 20 list $500, 900 of
per cent. l0-40 adjustment bonds. North
western has applied for Sl,60O.0OO first
mortgage bonds ON the Oitumwa, Ceder
Falls & St. Paul branch, issued at the rate OF
S25. coo q mile. Omaha has applied for
S13, S26 of preferred aud $50, ,739 Of com
mon stock on 1873 miles Of new road. Bur
lngton g. Quincy stock WIS pushed up
to-day by Boston people. Vanderbilt and
White were both said to be sellers
of Lacllawanna on the theory
that the recent refusal of
Reading to restrict production virtually
breaks the coal combination. The recent
activity in Texas Pacific is accounted for by
the fact that rival Interests are buying stock
for the sake of getting control. An effort is
being made to induce the Grand Trunk to
cut off the West Shore from its western con-
nection, but thus far without avail. II Is an
nounced that the West Shore and Fitchburg
roads have announced a rebate on passen-
ger rates to Chicago, which amounts 10 a cut
of SO. Mr.. Gowan, now that the Densmore
suit is out of the way. will present his plan
for the reorganization of the Reading. 1t
provides that interest on all bonds will be-
reduced and the difference in the rate paid
in cash aud that called for be paid in scrip.
The Jersey Central dividend is TO be reduced
and scrip issued therefor. The plan will be
recon mended to the stockholders at the
annual meeting in January. os-
borne's brokers and Kirkner have been
buying for several days. Woerishoffer says
Gould has been buying Mtchelfs stock, but
Sage says Gould has DOT bought share OF
St. Paul. Sage is bear, and says there is
nothing TO bull stocks on. He says Gould is
doing nothing except in his own stocks.
The earnings of Northwestern for the last
week in November will show decrease OF
$4,000. The Western Union directors will
declare their IL quarterly divi lend Dec. 16.
The number of stockholders has in
creased ffty-eight during tue last three
months. The most notable transaction of
the day was the SAFE of ten thousand shares
of Lake Shore TO Van Schaak. Toward the
finish the Delaware g. Lackawanna crowd
unloaded, and it broke TO l0SH. This
helped to unsettle the balance and closed the
market weak, The feeling NAV be some
what unsettled for a day or two and prices
may yield still further. but the bulls will not
permit much Of a decline if they can help 1t.