St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-17
A Few Facts Which Help to Keep
Investors Out Of Wall
Street.
UnavaiIing Efforts to Enliven the
Stock Market Last Week.
Jay Gould is Reported DESTROYS to Capture
The Oregon Transcontinental.
Dul1ness Spreading to Grain and Provis-
ions---Ten Cents Bushel to
Liverpool
Especial Telegram to the Globe. /

NEW YORK, March, 16.-The Sun
in its Wall street column will say tom orrow:
The animosity of the managers of the
Northwestern systems is growing more and
more bitter. The Vanderbilt cable fight is
further than ever than from an amicable set
tlement. Some highly interesting facts are
probably going to be publicly exposed in
connection with the management of one of
the Oldest trunk lines. 1t was well known that
rebates were constantly made to shippers by
that line, but it was not known that the
shippers did not get the whole benefit of
the rebates. A portion of them seems to
have always gone into the pockets of some of
the leading officials. The Inflated Colorado
Coal company is having an inside fight
amongst its managers. Several meetings
have been recently called in New York and
Philadelphia for the purpose of settling
the matter but so far without any
success. Mr.. Palmer wants to put Mr..
Woerishoffer out; Mr.. Woerishoffer wants to
put Mr.. Palmer out-while the much ill-used
outside stockholders Xant to put both of
them out. Facts of this kind cannot much
affect the price of stocks, especially when
they are selling at the lowest price recorded
in several years, but they will certainly not
improve the confidence of investors either at
home or abroad.
After the big Lackawanna squeeze New
York Central was taken up last week as a
motive power, but it gave out sooner than
was expected, and at the close of the week
Buffalo & West Shore bonds were brought up
to the front. 1t was said that the Wander
bits were in the deal, and that men like
Messrs. Osborn, Cammack and D. P.
Morgan bought three or four millions of the
bonds. The bonds went up several points
during the week but the result will probably
show that the whole movement was nothing
but bob tail room boom.
For this week simila s'spurts'' are prom
ised in Lake Shore, st. Paul and Oregon
Transcontinental. The control of the last of
which Jay Gould is said to be anxious to get.
If that be so there is ample time yet for peo-
pie desirous to have hand in the deal to
get in, as Mr.. Gould is not likely to return
before the latter part of the week. He was
in st. Augustine, Fla, on Saturday
and did not seem to be in a
particular hurry to return. His trip was cut
short by the inability of his yacht Atalanta to
cross the bar of the st. Johns river up which
he intended to make trip.
The overwhelming dullness which ahas
taken possession of the stock market is now
spreading to the grain and provision markets,
a circular issued from the office Of a represen-
tatiye of Chicago firm which has always
been considered highly respectable is an in
stance of this change. The circular is not
unlike those issued during the ''boom' of
three years ago by certain would-be stock
brokers. They invited people to place money
in their hands and promised that this money
should be invested to their best belief This
investment was to bring large profits because
of the special information for speculation
which the benevolent firms were supposed to
have of the doings of Jay Gould, James R.
Keene, Russell Sage and other Wall street
magnates. The proposition was made during
the days of the lambs and these firms made
handsome commissions while their customers
were losers. Such ventures are now ''played
out'' and the lambs who were to deal in hun
dreds of shares are at present leaving their
last few dollars in the bucket shops which in
fest the street.
The reduction of the schedule rates on
grain granted by Commissioner Fink is a
snare. The eastern roads will never keep
up to the 20 cent tariff per one hundred
weight for they have secret outstanding con-
tracts at Is cents. 1t is said that clean bills
of lading for grain from Chicago to Liver
pool are now obtainable at 10 cents bushel