St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-24
RiG0L0.
Several "Circuses" Among Colo
RADIO Iron Company Stock
holders.
Gullible Wall Street Stuck on a Mis-
understood Washington
RumOr.
No Hope for Higher Prices in the Grain
Markets This Spring.
Prediction That Chicago No. 2 Will Go tC
10 Next Month,
Especial Telegram to the Globe. l

Prediction That Chicago No. Will GO to
70 Next Month.
Especial Telegram to the Globe.
New YORK, Marcl 23.-The ,S@n in its
Wall street column vii say tomorrow: Peo-
pie interested in the Colorado Coal and Iron
company had several circuses during the
week. Not only were there formal meetings
where the big mer blackguarded each other
in the most approved style, but there were
champagne and oysters for two'' when
the big men trie to collar the small share
holders. The public are in state of com
plete mystifcation as to the rights and
wrongs of the case, which had to give way 10
the determinations of the famous Exchange
place tinanciers. The Denver u Rio Grande
people want to keep the control of the Coal
and Iron company in their own hands by
having their ticket elected; while Gen.
Palmer wants his ticket put
in, and number of outside
stockholders are anxious to run an indie
pendent ticket. The objections against the
Woerishoffer-Lovejoy ticket are that the Coal
company would be managed in the interest
of the Denver & Rio Grande, inasmnch as
the latter is receiving over thirty per cent. of
the gross earning from the former. AS both
the Union Pacific and the Atchison, Topeka
& Santa Fe would GLADLY build branch
lines into the iron works and do the
business of the coal company at lower
rate, the question is one of life or death
for the Denver road. Without the large pro-
fits now secured from the Coal and Iron com
pany, bankruptcy would stare the railroad
company in the face. 1t is natural that Mr..
Woerishoffer and his henchmen should strain
every nerve TON capture the Coal
company They had sold out
their Denver stock over par but
recently bought it back again in the neigh
borhood of 20, and only wait for just such an
opportunity to sell it out again at high figu o..
They seem to own most of the Colorado Coal
bonds and could by running down the bust
ness foreclose the mortgage and acquire the
property for song.
There was a jump in the stock Of
the Metropolitan Elevated railroad Saturday,
in the expectation that decision would be
rendered by Judge Van Brunt to day, in the
SA4t@N S'AS
decision would be in favor of the Metropol-
itan, and the time which Judge Van Brunt
has taken before delivering his opinion and
his high legal standing as judge, make it
unlikely that should the opinion be as sup
posed it will ever be reversed by a
higher court, at the same time it is unpleas-
ant to think that there are leaky pipes in
our courts through which such information
is liable to escape.
The Pacific stock had further advance Of
several points upon the report of favorable
legislative prospects in Washington. Wall
street Immediately concluded that sub
sidy is going to be granted
and some of the daily papers
made statements to that effect in their tinan-
cial columns. This is all wrong. No sub
sidy is asked for, and none would be likely
to be granted in the present disposition and
temper of congress. What is being consid
cred by Washington Legislators is the repea
and amendment of two sections of the re
vised statutes of the United States, by which
American vessels sa ling between American
and foreign ports are bound to carry the mails
at two cents letter. The compensation il
many cases does not pay the mere cost OF de
livering the mails at the postoffices at point
of arrival. The object of the new bill i
simply to place American vessels engaged il
the foreign trade upon the same footing a
foreign and coastwise steamers, lake steam
ers, stage coaches or any other public car
riers, all of whom have the privilege o
making equitable contracts with the post
master general for the service rendered.
The grain market is steadily sagging
without even vestige Of a recovery. Th
Chicago firm of Schwartz & Dupee tele
graphed to-day: ''The arrest of the declin
is simply question Of what price will Great
export demand and materially reduce gu
stocks. The time is not far off when W
shall be specializing about the probable pric
of wheat in the event of our producing
: the largest crop yet seen, whicl
: present prospects seem to indicate" TIT
crop prospects in Europe are reported as ad
mirable. The spring came very early a
over Europe, and trees were budding thre
weeks ago as far north as Berlin
Upon the influence of Australian
e Indian and Russian competition il
, the European wheat markets there is n
need to dwell any more. The condition o
t the wheat market is such that bets wer
offered Saturday that July wheat, which wa
l selling then at 97c bushel, would see tn
: figures reversed and sell at roc before July
| over.