St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-22
NEW YORK..
lspecial Telepram . the Globe

| Special Telegram 10 the Globe.
New YORK, Dec. 2o.-Lackawanna is now
leading the market around by the nose, and,
as it was a good deal weaker on the. start,
everything else on the list declined too.
Within an hour after the opening Lacka-
wanna had declined ~ points and was sick
at $50.
1.-THE market says one house, sis so devoid
Of incident that when it sells up a point two
there are enough sellers to inaugurate a decline,
and whenever there is break there enough
buyers to turn it up again. We think that Lack
awanna is being monkeyed with, and is good
purchase at under par.''
| Henry Clews advises purchases. Work,
Strong& Co. are making large purchases OF
Oregon Transcontinental, and have been do
ing so for long while. The nearer the hol-
idays get the less eyentful speculation be-
comes, so that next week it is not expected
that there win be money either for buyers or
sellers. One feature of the morning was
little squeeze in Missouri Pacific, which, IN
der manipulation, rose "a by jerks aud
jumps. The earnings Of the Grand Trunk
since last January have decreased 81, 050, i6l.
II is still an open question whether Lake
Shore pays any dividend. Some want it
passed and others are in favor Of ] ger cent.
The matter will be decided next Wednesday.
The Lackawauna dividend is 10
be declared next Friday. Vanderbilt
brokers were bullish on Northwestern, and
D. P. Morgan felt the same way on st. Paul
and Lackawanna. There is a large short in
terest out in Northwestern and no floating
stock. Gould brokers were buying yesterday
afternoon. and CammOek covered his shorts.
Jersey Central stockholders will consent to
a reduction Of dividend for two or three
years. Insiders in st. Paul say it viii not
90 below 1917 at present. The coal compa-
MES have determined upon percentage
allotment plan for next year, and are now
arranging details. Reading wants 4 per
cent. more than It has had for the past two
years. The operations are to be under
board of control composed of the presidents
Of the different roads The committee ar
ranging the details will report the second
week in January. A sinking fund is to be
created by the Union Pacific for the Kansas
Pacific consolidated bonds. a Berlin bank
has taken S1,500,0O0 of Northern
Pacific second mortgage bonds, which
aSNOuht6 4oA bAS plCSShb obANhEbh ~ 10
stock. As the day advanced the whole
market became stronger and higher, The
bids for Rock Island bonds, $4,000, 000 ;
per cent. first mortgage extension and col
lateral bonds, TO run so years, were opened
at noon to-day. Bids for between Sl5, 100000
and $4,000, 600 were received ranging from
par upward. All the bonds were awarded 10
Kuhn 81 Loeb at lbove 103 Free sellinn of
Delaware 81 Lackawanna characterized the
late dealings, and the stock looked quite
weak. Pacific Mail continues a strong card.
The final quotations in Western Union tele-
graph are, ex-dividend e per cent, and on
Missouri Pacific ~. The feeling was quite
tame at the finish, and it looks as though the
bears might attack prices again next week,
as there is evidently no outside buyer for
either quotation or investment at present.