St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-27
NEW YORK..
Especial Telegram to the Globe

Especial Telegram to the Globe
New YORK, Dec 26.-The market was
dull an weak, as it usually is in holiday
week. The rumors of a very bad state of
affairs in Vienna had something to do with
unsettling the feeling, but besides this far
away influence, there were plenty of others
to disturb the street. Western Union
dropped off point almost at the start, be.
cause it is now set down as almost certain
that there will be war between the cable
companies before they ever settle into pool
ing arrangement. Willard aud other leading
brokers sold considerable stocks. The
Lackawanna directors declared their usual 3
per cent. dividend and announced besides
that the companiy's books showed
that II had earned during the
eleven months fully IL per cent. Tue talk
at the hotels yesterday was exceedingly bear
ISL, but the brokers who are in the Wander
bilt retinue are advising their outside clients
not to ''short'' the market, and giving it as
their opinion that there will be something Of
January boom that will make short sellers
at present prices heavy losers before they get
out. The deal in st. Paul is mystery here
There is no end of reports that Mitchell will
resign and will not resign. The fact, so far
as cold calculation goes here, is that he win
got out, now that Merrill is not to be his right
hand man. His age, wealth,
influence, and the holding of stock and large
holding of bonds are all calculated here as
corroborative of the reports of his retir-
ment. If he has not already resigned, it Is
nOtilnprobable that the street will be quietly
informed in an informal way within the week
to come. There was some talk about the
statement about Lake shore being made as
favorable as possible to enable insiders to
buy stock, and in the same connection it was
suspected thatthe Lackawanna statements of
the past year had not been reliable, Presi-
dent Sloan of that road being credited
with good deal of talent
on stock jobbing. On the
other hand it was thought that considerable
investment stock in Lake Shore and Western
Union would be likely to come out, now it's
holders saw no dividend for them. There is
a large short interest out in Northwestern
| and very little floating stock on the market.
Deacon White was reported short on the
Changers and Vanderbilts, and Cammack
said that Vanderbilt himself was short on his
/ own stocks. As the day advanced, the weak
ness of the list was found to be semi-chronic,
and rallies did not hold The general feel
ing of timidity is consequent upon
the advent OF the time that there
must be a settlement of differences
and accounts, and openly announced fail
ures need not surprise the street during the
week to come. Insiders in Northwestern
say that the short interest is larger than it
has been for long time, and that the mar-
ket is bare of foating stock. The Northwest
ern dividend of 31S on common and per
cent. on preferred stock is payable to-day.
The feeling was decidedly ragged at the last.
! st. Paul and Lake Shore looked bad, and
there was very little blue sky visible any
where. At the finish the market appeared
very much demoraized, and prices were
down to about the lowest notch for the day
when the exchange closed.