St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-21
NEW YORk.
Especial Telegram to the Globe. j

Especial Telegram TO the Globe.
New YORK, Jan. 20.-The stock market
had ! rally in the morning. most of the ac-
tive list opening }5QHc higher, the increase
being the most marked in the Vanderoi!ts
and Grangers, particularly North western,
which went up 5sc, the advance being sus-
tanned. after slight re action. The publica-
ton of the earnings OF ST. Paul, showing an
increase of $4,000 for the second week in
January, sent that stock up l per cent.
Manitoba gained Is per cent, Omaha COM
mon gained point in one quotation, and
Northern Pacific common gained q at the
start. New York Central was put IN loan
crowd, which forced the shorts to cover, and
the stock went up ~ per cent.
selling of again l per cent. and re-
covering the loss later. Lake Shore
advanced u, and was sustained by the re-
port that Vanderbilt was buying back stock
be recently sold short. The general market
made every effort TO be strong under the di-
rect leadership OF Gould and his Clique, and
it partially succeeded. Northwestern, New
York Central and Lackawanna were the three
features. There is large short interest in
Central, and squeeze was talked Of. One
explanation of the situation is that the Gould
party bought large lot Of stock yesterday in
order to support the market, and now found
themselves with big load which they were
anxious to transfer to other shoulders. The
bears are relying on the outside situation and
the bulls on Mr. Gould, who
says the market is acting well
and everything is all right.
The demoralizeo railroad situation and the
cutting of grain rates by trunk lines create
distrust of any rally. Brokers look for no
settlement of the railroad war, and the Penn
syivanis people are said here TO have Motif ed
Mr. Fink that II he does not stop the pool
roads from cutting both freight aud passen-
ger rates, the Pen nnsylvania viii go below the
lowest. 1t is said the Pennsylvania will not
be satisfied unless money pool, with the
money up, Is established. A Toronto dis
patch saws the Grand Trunk will act with the
Erie, Lackawauna and New York Central
aud West Shore, and not meet the emigrant
cut OF 81 By the Pennsylvania.
Mr.. Fink has called another
conference Ol IpduS W SOhSiASl buC
situation, but It is not likely that the Pennsyl-
vania will join the com bination aud 1t will
probably fall through. II is reported that
Vanderbilt Is sick Of his South Pennsylvania
venture, aud has offered to sell the uncom-
pleted road TO the Pennsylvania Railroad
com pany. There is believed To be consider
able truth in the report, although the Penn
sylvania railroad officials are reticent Con-
sidered as a whole the market is uncertain
and likely to go either way on slight provo
cation. There is feeling that IL is Gould
| against the world, that gentleman having ex-
pressed himself favorably TO the southwest
erns and is comfortably bedged to prevent
any sharp break. The selling became gen
eral toward the finish, and it looked as
though the cliques were feeding the market.
In the closing moments stocks were marked
up. evidently for the purpose of making a
market to sell on tomorrow.