St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-11-21
NEW YORK..
Especial Telegram to the Globe. /


NEW YORK, Nov. 2o.-The stock market to-
day puzzle TO everybody. II opened irreg-
ularly, some stocks being the same. others u
per cent. lower and others still hQH higher.
The special features OF the day was the IN
expected boom in Northwestern, which, with
the St. Paul and the Vanderbilts for companions
moved away ahead Of the rest Of the list. The
general market was almost neglected in the
early hours of the session. great the in
terest, and the activity in the four stocks which
compose the two groups known as the Changers
and the Vanderbilts. For some reason the old
stocks opened weak. For example, Illinois
Central and Burlington & Quincy were y per
cent OF, and Rock Island z while Central Pa
cinc opened Z higher. Northwestern and st.
Paul both opened 4 of but soon got the word
''go'' from the managers. and away
they sped toward higher values. During
the forenoon, Northwestern reached s9ss. st. Paul
77%, New York Central 50, Lake Shore 6sA,
Union Pacific (Which was dull and nesvy) SIS,
Western Union COS, Omaha preferred 90. which
was point advance, Larkswanna lO7E. and
Pacific Mail seq. Louisville & Nashville was
first down to 24H and then rail- ed TO % a. On e
good many stocks there were only a few QUOTA
tons and these few were in many n stances lower
instead of higher. Even Union pscIfc and Lack
awana were inclined TO stand still and see the
Changers fly. What the precise significance of
this somewhat unexpected movement was no one
could tell. There was arge buying of these
stocks, one party taking 1000 shares OF ST. Paul.
The Osborne party were said 10 have turned
bulls and the general feeling ran in the
same direction. The earnings of the
Omaha for the second week of November
increased $4,000. The coal production credited
to the Lackawanna road for the past ten months
shows only a slight falling of from last year II
was said, now that the election is over every
body felt like going to work, AMI so this ''every-
body tackled the Changers and the vanderbilts
as the best thing 10 commence on, The court.
which applied e., refuses TO interfere IN the
matter of Residing d Jersey Central dividends
Louisville a. Nashville earnings for the second
week in November decreased $40 100. II was
remarked that the famous tripartite agreement
between the Northwestern, Rock Island and
Burlington Quincy expires Jan. !,
1885, and perhaps the spectators and
holders OF these stocks feel admonished 10
make hay while the sun Shines as the
probability of a renewal is considered dim and
distant, and another war OF rates between these
lines may result. The railroad war played
small part in the business TO-DAY. Everybody
believes in a lower passenger rate between here
the Chicago meeting will result in e restoration
of rates eastward. The Pennsylvania people say
that when the reports of the Chicago roads are
given out it viii be seen that their losses are
enormous, while the West Shore insiders claim
this afternoon that they have more than maze
expenses during the fight. The very best pas
senger months Of the year are September and
October, and loss during these months in earn
ings will tell severely upon the dividend sup
porting roads. As matter of fact
both the Central and West Shore are tired, and
turn for better would be welcomed by either
management, but the Vanderbilt people are
likely to hold out with a view of forcing the
Pennsylvania to come in and share some of the
loss, and thus Fastening agreement that will
keep its smaller rival in check. The Lacka-
wanna and Erie play small figure in the game
now. The market looked decidedly toppy
during the afternoon. ana prices did not hold.
Northwestern was about the frmest, feature. and
was better held than the balance. Chicago,
Burlington g. Quincy declared the usual per
cent. quarterly dividend to-day. Rock Island
touched 1854 during the closing hour. and but
few stocks were able to hold their own
Prices we're nearly all lower at the end than
they closed last evening, and they looked frail
enough.