Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1884-01-16
NJ YORK.
[speciaI TeIeal...n 70 1ne Giobe. ]

Special IeIegIt.n 10 Jn6 tIIODe.
NEW YORK, Jan. 15.-The excitement or
the stock exchange this morning was in.
tense. More real alarm prevailed than at
any tins since the present liquidation
commenced some months ago, and severa!
of the leading shares touched the lowest
point yet reached. For an hour il
looked as though a veritable panic
had struck the principal holders
of even the very best securities.
st. Paul dropped to 88, Oregon Trensconti-
mental TO 2825, Northern Pacific preferred
to SO and Pullman Palace Car to 1O9
These are the loves figures thus far reached
by these stocks. The bears made the most
of their opportunity, and mercilessly
pounded their panic stricken antagonists.
Wild rumors added to the stumult and con-
sternation. The name of George M. Pull
man was again banded about. The reports
rife were similar to those of yesterday and
Saturday.
Shortly before noon there was rally,
and while the losses we're not recovered
the tone of the market became more
healthy and feeling of confdsnce ap-
peared 10 have taken possession of heavy
holders of SECURITIES. Later in the day
Oregon TransoontinentaI got black eye,
and there was a general decline ell through
the list. The bears had full control of the
market from openingto close. TheprincipaI
points of attack were ST. Paul, West Shore
bonds and Oregon Transcontinental. The
4bo
very pronounced, carrying it from 892 to
SO. At thiS price there was good buying
and the stock was feYerish and excited for
the balance of the day. It was bought on
every reaction. Transactions in West
Shore bonds were immense at steady de-
cline from the opening, The story
on the floor was that Astor sold million
of them.
- It was reported that application had
been made to put Ontario & Western and
West Shore into the hands of receivers
Oregon Transcontinental was steadily de-
pressed. The pressure at no time was
taken off. It is in condition now where
it can be very easily turned up on the
short interest whenever it suits the desire
of the manlpulators. Chicago, Burlington
d Quincy and Northwestern we're very
strong, but the Omahas were weak. Van
derbilt stocks were steady to strong all
day, and the Gould stock seemed very well
taken care of. Union Pacific was pegged
until the last hour, when the props were.
taken out and it WAS the weakest thing on
the list. Coalers were inactive and we'll
sustained. The talk in New York among
the brokers and their customers is very
bear;sh, and the bear manipulators
circulated the most alarming accounts
The latest report is that Mr.. Gould has
been called upon for margins by the Trust
ccmpany.l Woerischoffer, Flower & Os-
born we're borrowers of the whole lIst, as
they have been for some days. Canadian
Pacific increased the first week $4,000.
st. Paul was hammered by the Osborn
party, and West Shore bonds by every
body. The market closed very soft.
Tho early dealings were characterized by
much excitement. West Shore bonds fell
to So and ST. Paul to IS during the frat
houc. This brought down the balance
and the feeling became a
trife panicky. The decline sent in orders
from the shorts to some extent, which
steedied the market for time. The re-
port that Ontario & Western had gone into
the hands Of a receiver caused quite
furry in the stock, and drop to 81 fol-
lowed. 1t sold at 29114 during 1888. Pull
man palace was supported by its friends,
who appear 70 have much confidence that
it is worth present figures. There was
heavy trading in Oregon Transcontinental,
and it. was particularly feeble,
looking worse if possible than
at any time since The Willard collapse.
Tie worst feature in the market is the
fact that the declines from day to day
bring in no buyers of stocks for rise,
while confidence in about everything ap-
pears to be entirely lost. There are plenty
of lockers on in Wall street, but few par
ticipators. Central Pacific has declared
its semi-annual dividend of 215 per cent.
payable the 18th proximo. This stock
has not yet received any attention from
the bears. In the closing hour the West
Shore bonds were decidedly heavy; also st.
Paul and Oregon Transcontinental.
Gould's representatives appeared to be
doing their best to sustain prices, but
without avail, and the feeling was even
more nervous than on last evening, with
every indication that the end is not yet.