St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-15
NEW YORk.
Especial Telegram to the Globe.

Especial Telegram TO the Globe.l
New YORK, Jan. 14.-The stock market at
the opening was moderately active, with
prices irregular throughout. The bulls are
holding things with an iron grip and let the
market down or put it up at their own sweet
will. The general feeling is still much
mixed, some thinking the list will all go
higher and others looking for q big break.
Western Union was attacked early and forced
down &c, but it soon rallied with the others.
Deacon White has come out bull, and was
buying New York Central and graugers. The
Osborn party were buying and Gould aud
Conver we're credited with selling out.
Western Union telegraph business has been
growing larger of late. Slayback was said
to be buying on Gould orders. As whole,
the stock market at present is in very un-
satisfactory condition. 1t is outwardly
strong, but every one knows that
the firm appearance is, TO large
extent, the result of sheer manipula-
ton on the part of Gould and his followers.
1t is essentially a one sided market, and is
only let down occasionally to fool and be-
wilder the traders. The managers know If
left to itself it would Immediately go down
with 4 rush, and hence they keep every
point guarded ana all the while push prices
slowly on any and every pretext There are
so few stocks dealt in now that manipulation
is com paratively easy. This kind Of market
would be well enough we're it not for the
danger Of getting left some fine morning
when the managers conclude to unload.
Various reports relating TO the affairs Of the
West Shore railrord prevail in Wall street,
and there was yesterday a drop of 2 and 3
points m the price Of the bonds Of that com
pany. 1t is stated in some quarters that
certain large holders of the West Shore bonds
fear the consequences Of prospective litiga-
ton, aud their endeavors TO unload their
holdings broke the market. The United
States Trust com pany, which is the trustee
for first mortgage bonds, has given notice to
the company that the principal of the bonds
is due because of the default in interest cou-
pons. II was also stated that the trustee had
asked the courts for leave to fcreclose. The
bondholders have not get decided upon a
plan for reorganization In connection with
the raid on West Shore bonds, it IS pertinent
that the trunk line presidents have called a
meeting here for day after Tomorrow to en-
deavorto settle differences aud 10 induce the
Grand Trunk to stop extending facilities to
the West Shore, but the Grand Trunk ia not
altogether satisfied with its pool percentages,
and It may refuse to consider the point. The
Pennsylvania continues TO extend the use Of
its terminal liabilities here to the West Shore,
and this matter may come up as factor in
the discussion. The Cincinnati, Hamilt0a
q Dayton railroad has sold S45O,00 5 per
cent. bonds to syndicate. The proceeds
will be used in paying of an issue Of per
cent bonds which mature this month. AS
the day closed the market became dull again,
but the undertone was firm aud the granger
aud western lines generally were quite hrm.
Among the light weights Erie was a feature
and advanced ? per cent to 1871. At the
finish prices yielded a tri1e, hut we're In the
main 1rm when the gong struck.