St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-07
STOCK MARKET STRONG
Affairs in Wall Street Indicate that Prices
Will Be Steady and
Stiff.
Efforts Of Woerishoffsr and His Party to
Break Lake Shore and st.
Paul.
General Desire of Those Who Have
Spare Ducats to Risk Them On
the street.
Little Speculation Until Congress
Shows its Hand on the Tariff
and Silver.
I'm Wall Street.

Special to the Globe.
NEW YORK, Dec. .6-The Suns In and
Out of Wall Street article tomorrow will
say: ''Stock speculation was very nervous
and unsettled during the week. owing to
New York Central and West Shore litiga-
ton and to few other cloudy influences
affecting the temper of the market. 1t must
be acknowledged, however, that keeping in
view the uncertainty of the general sit
uation prices were remarkably strong and
showed great deal of confidence on the
part of the solid stockholders, both at
home and abroad. This state of affairs
seems TO suggest that serious drop in
prices is not at all probable, unless
some unexpected calamity should
occur. 1t seems for instance that Woeri-
shof1er and his party made on Saturday
desperate efforts to break the prices of Lake
Shore and st. Paul, but failed, notwith-
standing the immense amount of stock they
nave been washing, and particularly in the
Lake Shore crowd. The immense dis
bursementS OF interest and dividends which
always take place at this time of the year
would help to
SUSTAIN THE MARKET,
even if the speculative temper of the COM
munity were different from what it is. The
desire of men who have a few hundred
dollars to spare to risk them in Wall street
has become so general that prices must 90
up in spite Of anything that may
occur in York Central, in West
Shore, in Baltimore & Ohio or in any other
complicated cases. The spectators who
come to the street nowadays do not seem
to care much about buying so-called gilt
edged securities, and particularly those OF
the Vanderbilt description. They remem-
Der to well that they were induced to carry
| them away above par, and compelled to
sell them away below par, and that il
was MI. Vanderbilt, and his friends
who picked up the squeezed out Lake
Shores in ffties and New York Central i'll
eighties, but they seem to be perfectly will
ing to risk little more money in the pur-
chase OF low-priced securities. Of course
there is no sense in going into such
stocks unless you can take
care of your purchases. But if you
can do it, there are at present dozen OF
this kind of stocks promising fair chance
of
GOOD PROFITS
in the long run. One or two of them are
given below, but it must be stated that we
are not likely to see thorough bull market
until the beginning of January. for peopl
will want to settle their old account
before they get into something new, ans
apart from that, everybody will be, for the
| next two or three weeks. watching for thu
temper shown by congress at the opening
of the session. The silver question, ths
tariff question, the attitude of the legislature
towards the railroads holding land grants,
| are all highly important, and the specula
| tive community will want to find out what
congress is likely to do in regard to this be-
fore new boom in the stock market is
likely to start If it is allowed to come
| it will be in January, but not in December.
There seems to be considerable of
MoNKEYING GOING ON
in handling the stock of the Columbus
Hooking Valley & Toledo railroad. TIL,
stock goes up or points and then drop
just as fast down again. Its evident thai
the insiders wish to shake out weak
holders, for the road is in splendid
condition and has already earned more
than its fixed charges for the year, and by
the completion of the bridge at Point Pleas
ant, has, according to Kiernan's report on
Saturday, completed it's traffic arrangement
with the Chesapeake u Ohio, which gives
it free access to Washington and Rich
mond. On the other hand, the northern ter
minus of the road at Toledo is in
the Vanderbilt system to New York, and
the officers of the Hooking Valley and some
of the Vanderbilt lines are known to be ON
very intimate business terms, consequently,
if the stock selling now at about $50
share does not
SELL AT DOUBLE PRICE
1t is not because it is not worth it but be-
cause some party or parties unknown want
to pick up all the stock they can at low
figures. Another cheap little stock. which
looks very tempting at current figures, is
the New York, Susquehanna 81 Western,
company which is in a position just the
reverse of that of the Columbus 81 Hooking
Valley. If there is too much manipulation
in the latter there is not enough of it in the
former. The New York, Susquehanna %
Western is the old New Jersey Midland,
which was bought up and reorganized a few
years ago by a party of New York capital
lists.
1t runs from Marion to Strandsberg. join
ing the Pennsylvania in the former place,
and the Lackawanna in the latter, oper-
ating altogether about 152 miles. 1t is
fast progressing road, both in
coal and general traffic. Its
bonded Indebtedness, including all
branches amounts to less than 81, 900, 900.
The amount of its preferred stock is IS, 000,-
600 and the common $13, 900, 600, most of
which was issued to pay old holders of the
Jersey Midland.
THE COMMON STOCK
is selling at about SIS share, and is for the
present probably worth not much more than
that, but the preferred selling at about
$22 seems to be almost sure to
pay a dividend in year or two.
should be fair purchase. The men who
control that road, like Mr.. F. A. Potts,
Charles Midzesheimer, John G. Blair.
Alfred Sadly and few others OF
that standing are not in the habit OF put
ting their money into unremuneratlVe
concerns and it is known that none OF
them have transacted share OF stock pur-
chased at the time of the original transfer
of property. The week has been one OF
| considerable fluctuation in the grain mar
ket, The bears having, II anything, the
best of it. On Monday the wheat market
was firm and slightly higher, due to tha
covering of shorts, but the increase in the
visible supply reported on Tues
day caused reaction. The ad-
yances later ON were mainly due
to renewed rumors of further political COM
plication in the Balkan peninsula. Wheat
receipts at the west have been light and
farmers seem to prefer to hold theiI
grain for rise. The reports OF
insufficient storage room at Minneapolis
and the shutting of the mills have diverted
wheat to Duluth. Corn was slightly
stronger, but a lack of export demand had
its effect in the price within reasonable
limits.
How His Accounts Were balanced,