St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-11-13
The general marks. present. no new rsas
NEW YORK.
Lspeeial Telegram % the eI0bs.l

" Especial Telegram 10 the Globe.l
NEw York. Nov 1s.-The market opened Z
Q &C lower. with one or two exceptions Omaha
opened &c higher, but was not active. Erie sec
onds opened = c up and Immediately sold down
&c to 4se. Northwestern preferred opened &c
lower and declined full point TO 12Sze. The
general market was fairly active, with Union Pa
eide in the lead and strong A great many ru-
mors were in circulation concerning this stock
One was that one bull pool had been formed
in London to put it up 10
points. During the forenoon it rose
to 81. St. Panl to 7StS, Northwestern to sSE,
Western Union to $50, New York Central 10
ssh, Lake shore 20 65iz, Lackawanna TO 1885,
and Pacific Mail TO 81. The New York Central
reduced It's passenger rates this morning 10
$3.50 to Chicago, the same as the other roads.
Several heavy brokers were bidding mp Lake
Shore, and Gould was said to be covering his
shorts in that stock. Mr., Bell seems TO have
charge Of the manipulation in Lake shore AZ
present, and several parties are working it on
the theory that there large short interest out
and that the stock IS too low. On the other hand
IL i said that the road can only get rid Of its
large floating debt by issuing new bonds or pas
sing dividends. Union Pacific was said to have
now al the money it wanted, having recently
Ne4ASWNA SArVeVrtoV per
cent. TO pay of loans made at &
higher rate. Vanderbilt was said to be buying
nothing II present, and feeling rather diseour-
aged oyer'the fact that his road was making no
money. On the other hand it was reported that
he was willing to give S5,OOO.O GOO cash for the
uhincumbered property Of the New York Central.
Heavy parties were selling ST. Paul and the gen
eral feeling was bearish, although the market
during the forenoon was kept steady by some
body. The eliques are said to have realized
heavily yesterday, aud it was considered hope
less task 20 work for any great advance while the
election question remained uncertain, and the
passenger rate war was in progress. The earn
ings OF the Canadian Pacific increased the first
week in November 1000. Several good things
were reported Of that road, and
the old story was started again
about having line OF steamers
run from Montreal TO China snd Japan in con.
neetion with it. Railroad men thought that no
trunk line would be able 10 keep up dividends
except the Pennsylvania. The railroad fight is
becoming more exciting every day. The reduc-
ton Of the New York Central on rates to Chicago
10 $1,000 was met to-day by the West Shore
with $40 rate. The Chicago, Burlington &
Quincy has withdrawn from the Kansas City
passenger agreement, and rates from that city to
Chicago have been reduced 81 by all the lines
The shorts covered some stocks toward the close
OF the session and the grangers picked up a Bit
in consequence Jersey Central was Il trife active.
The final quOtatOn on il is exdiyidend y per
cent Outside OF some dealings by the room
traders, there was nothing doing at the finish,
and the market wound up exceedingly tame.
Union Pacific was not over plenty and there was
q good demand for cash stock