St. Paul daily globe., 1884-11-24
RAILROAD NEWS.
Among the Bulls and Bears Of Wall
Street Last Week.
Ispecial relerrar 10 the Glone1

Especial Telegram TO the GloseI
NEW YORz, Nov. 23.-The Sun in its Wall
street column viii say tomorrow: The past
week in Wall street has been in many re-
sPeeis curious one. There was no indiea-
ton Of cheering business news. On the
contrary failure, liquidation and cessation
OF work formed a predominant feature.
Yet the stock market was remarkably
strong, and soms specialties, like the Gran
gers, for instance, scored a substantial al
vance, in spite Of the report that the Rock
Island has obtained control Of the Wiscon-
sin Central and was making preparations TO
fight the Northwestern. And the latter
road shows formidable decrease In earn
ings, ana is embsrling in building an ex-
tension 70 Ogden. W. H. Vanderbilt
who talked for years ABOUT the cutting Of the
Northwestern watermelon, sold out bis stock
In anticipation Of the rate cutting and ad-
verse OF the Granger legislation, aud is now
reported TO e selling Rock Island.
The advance In the price Of the Northwest
ern and St Paul took everybody by surprise.
all the more so because the pivotal stock Of
the market, the Union Pacific, remained
sluggish and weak. Several explanations Of
the fact have been given by the Wall street
wiseaeres. One OF them was that jay Gould
left the market to the big bears, headed by
Commack and Woersehoffer, with a view to
allowing them 10 cover their shorts, as some
OF these gentlemen intended to go
TO Europe aud Florida, and did not wish to
have outstanding contracts. After the COW
szrfn l.
left TO handle the market without any bear
opposition. The other story was
that Woerschffoer, Scott, Porter,
Morgan, aud a large banking firm,
having practically the control of the West
Shore, conceived the plan of buying large
blocks Of different stock preparatory to the
settlement of the railroad war. It depends
on them to restore the West Shore rates at
any day, and as they have the assurance OF
President Rutter that the moment
that they stop the cutting the New
York Central win stop it, too,
these spectators went boldly into the mar
ket under the leadership Of Wocrsehoffer.
He covered his shorts and bought large
blocks Of the granger stocks, which, under
atiyely the safest to buy. The small shorts
were thus shaken out along the whole line,
aud the market has been placed in such a
condition that IL the WoerschOffer syndicate
chooses TO restore the West Shore rates to-
morrow prices Of all the leading stocks can
be but five or six points higher, giving these
smart men a chance 10 unload their pur-
chases at a handsome profit aud to
start q new bear movement from a
higher level. Be 1t as 1t may the Changers,
the Vanderbilts and the Gould stocks will be
for some time to come the only ones dealt in
The rest Of the line Is dead and must remain
so till the general business Of the country
shows an improvement A great deal will
depend, Of course, upon the issue OF
the railroad war, and this issue
must be felt first Of all by the Vanderbilt
stocks. The factis that the earnings of the
so called Vanderbilt roads are cut into not
by the West Shore and the old competing
lines alone.
One of the leading dry goods men Of this
city is authority for starting that
long ago aud when the rates
on dry goods between New York and Chi
cago were supposed to be strictly maintained
AZ seventy-dve cents. He was shipping
goods at forty cents from pier 36, East river,
via New London. the Vermont Central and
the Grand Trunk. Il took them day or
two longer to reach Chicago, but that
makes no difference in the non-perishable
goods. The company making these ship
meDts is the National Dispatch mpany.
There exists a similar arrangement on st.
Louis traffic. Goods are sent TO Norfolk.
Va. and thence via the Chesapeake & Ohio
road.