St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-24
RiGOLO.
Several 'Circuses' Among Colo
RADIO Iron Company Stock
holders.
Gullible Wall Street Stuck on Mis-
understood Washington
RumOr.
No Hope for Higher Prices in the Grail
Markets This Spring.
Prediction That Chicago No. 2 Will GO t,
79 Next Month,
[special Telegtam to the Glohs.


79 Next Month,
Especial Telegram to the Globe
New YORK, Marca 23.-The tSl,a 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 triel to collar the small share
holders. The public are in a state of COM
plete mystifcatioT as to the rights and
wrongs of the case, which had to give way 10
the recriminations of the famous Exchange
place fnanciers. The Denver u Rio Grande
and Iron company in their own hands by
having their ticket elected; while Gen.
Palmer wants his ticket put
in, and a number of outside
stockholders are anxious to run an inde-
pendent ticket The objections against the
| Woerishoffer-Lov ticket are that the Coal
company would be managed in the interest
of the Denver g. 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
81 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 fgu sj.
They seem to own most of the Colorado Coal
bonds and could by running down the busi-
ness foreclose the mortgage and acquire the
property for song.
There was 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
long pending case. 1t was said that this
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 a 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 a 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 finan-
cial columns. This is all wrong. No SUBJ
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 repeal
and amendment of two sections of the re-
vised statutes of the United States, by which
American vessels sailing between American
and foreign ports are bound to carry the mails
at two cents q letter. The compensation in
many cases does not pay the mere cost of de-
livering the mails at the postofices at points
of arrival. The object of the new bill is
simply to place American vessels engaged in
the foreign trade upon the same footing as
foreign and coastwise steamers, lake steam
ers, stage coaches or any other public car
riers, all of whom have the privilege of
making equitable contracts with the post
master general for the service rendered.
| The grain market is steadily sagging,
without even vestige of a recovery. The
Chicago firm of Schwartz g. Dupee tele-
graphed to-day: ''The arrest of the decline
is simply question of what price will create
| export demand and materially reduce our
stocks. The time is not far off when We
shall be speculating about the probable price
of wheat in the event of our producing
the largest crop yet seen, which
present prospects seem to Indicate" The
crop prospects in Europe are reported as ad-
mirable. The spring came very early all
over Europe, and trees were budding three
weeks ago as far north as Berlin.
| Upon the influence of Australian,
Indian and Russian competition in
| the European wheat markets there is no
need to dwell any more. The condition of
the wheat market is such that bets were
offered Saturday that July wheat, which was
selling then at 97c bushel, would see the
| figures reversed and sell at 79c before July is
over.