Omaha daily bee., 1885-11-30
THE WEEK on WALL STREET
Our Special Resume of Five Days Business
on the American Bourse.
JAY GOULD JOINS THE RETIRED.
The Railroad King Makes Ills Regular
Announcement that He is Out
OF the Market-Thc street
III Suspense.


Review OF the stock Market.
New YORK, Nov % Special to the BEE.
The past week has brought little change
in the episting commercial situation in
general business as compared with recent
weeks. The dry goods trade In particular Is
heavy and inactive. The stock market IS
very mucn as ii tired. 1t opened with some
think of break all along the list. Then for
| the nrst time in many weeks the bear party
come openly to the front and sold stocks.
They commenced pretty rapidly. Outside
parties were scared, and threw over a good
share of their holdings, so when the break
was greatest, some of the most active stocks
suffered a decline of live points. The bull
leaders however, were equal to the emer-
gemcy. 1t is probable they are willing to let
the market sell off little, bat it must be in
gradual and easy way. sudden breaks IN
the market built up on hopes of what The
raj + ,ads are going 10 elrn, and with stocks
largely in the hanl of the public easily
frightened, are not always safe Things tO
handle If they. attain too much heSdWay;
On "Wednesday there was accordingly
free Distribution OF buying orders, presume
bly emenatng from the same bull pools which
inauyurated the campaign for liSe In ,.i7
street, IL was given out that Vanderbilt llin-
self was supporting the market. ANYHOW.
things were quickly blck to the Old position
and shurt-walstyI b5ar, skipped to cover as
quickly as ther could. The public were re-
assured and the fact pointed out that the
Baltimore " OIioS conditional 81 tnlture To
the trunk line co npact applied only tg the
passenger pool and in no way affected the
freight department Of the trunk llnt aEtee-
ment As to the Injunction in the West
Shore case, the public was reaSsured that 1t
really amounted 10 nothing, anu was IN fact
a stock jOODing device. Tne amount OF money
| involved was TOO small to stand in the way
fl In tlA AT
| the West Shore deal and even II the parties
should prove obstinate an the injunction
made permanent, II would be evated some
way. This sort of argument bting in reality
very sensible in its way, hId good effect, and
| Joined to the liberal support given to the
| market, brought prices back to the point at
which they were be iore the break began and
! landed the market over Thanksgiving in very
good SHAPE
What the bulls did not explain, however,
was wn re the roads were to get the eNtTavl-
CANT earnings Necessary 10 tu-tity the htSh
prices at which they are selling Or course
there is a gre Vt i'm lrlYe.n mt in the returns
| since rates Went back 10 pa ing basis, but
they have not da n,nStrated that b lsineSs
has increased TO point tlat they VIII earn
dividends yet FOR instance, Lake Shore
| it has been uJ tu - and hig Ter ngures We're
talked for it. Some interesting calculations,
also. have been put ont ABOUT ii having
shown diVitend-payln5 earnings IN the last
month or so, but in all the liguring no one
seemed, incu lie the inevitable price which il
must pay, and pretty soon, to the Nickel
Plate alliance.
Tue break was stopped but the public came
back to Wall street frO II TLanls giving in
thoughtful mood. At re same time the bears
are showing their heads in more oStentatious
way, and for some time past the big bears are
even credited with hayln[ put out con,tderl-
BILE lines of iorts. the people are cautious
about buying, and for the past two days the
market has saEged III has been exceedingly
dull, transactions having dwindcd down
to dimensions very much like those OF the
inactive markets last sumner. 1t is
risky to say that the downward move
ment in prices is at hand. That is what
would undoubtedly occur If the market was
subjected 10 moral influences. But there IS
no reason 10 behave that the combination is
weak ned or ii they chose they could not put
lrices up with as much ease as they have
done many times in the past three months.
1t is this feeling that makes spectators
doubly doubtful and gives the market to-day
a condition of suspense.
The stock eXciIan ge tirm of w. e. COnnor
& Co., OF which Jay Gould Is special part
ner, with capital of $4,000, and George j.
the end OF the year, and will not be renewed.
Both of the Messrs. Gould will formally sever
their relations with Wall street and hereafter
dly Jte their time and energies principally to
the management of the corporations i'll which
JAY Gould il most largely interested. Con
nor and MOrlsini will in all probability con
tinue the business together, but The foundation
OF the new arm has not yet been completed.
In speaking of the matter Jay Gould said:
II have decided to leave Wall street / have
been down there twenty-five years, and now
that am about 30 think | am entitled to
retire Let some younger men take care OF
things down there. SO far as the market is
concerned have been out OF it since last
summer. As long as stayed down there |
was credited with doing things did not do,
and as had closed up thought it best Ia
come away, and propose 10 rest some, and
devote myself to the companies am inter
eStnd in. The firm does not need mc, as Con-
no, and Morsini are rich and have ample
capital to continue the business just what
arran gements they made | do not know, in
fact, don't think they have completed them
yet They may continue as specials, taking
in some of the younger men To do the work.
| have the kindest feelings toward both
Of them, and they have my best good viii.
George will come up here with me and take
an active part in the management OF the
companies in which We are Interested
Missouri Pacific, Western Union and Man
haitian. We will do our best for these proper
ties and let the street do what il likes with
prices. They are all doing well now. Mis-
souri, Pacinc has no floating debt, and has
$40 OO0,010 in good securities on hand. The
business of the Manhattan Is growing con
stantly. Although Western Union is doing
business nj less rates than year ago, II is
making about aS much money
As soon as they can get affairs in shape,
which will probable require until January,
Could will go OH a -four or live months cruise
in the Atlantic as far south as the Windward
Islands and nps-ihiy fn Rin