St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-09
AN UNEVENTFUL WEEK.
a review of the Market Shows BU
Little Change Anywhere.
"hat the Booming Stocks Appear T.
BE Doing for Themselves.
Special TO the Globa

Special to the Globe
NEW YORK, Nov. 8.-The SIM in its
ln-and-out OF Wall street article to-morrow
VIII say: Ii the old aim of the classical
writers 1or the stage was to correct public
morals by means OF laughter. the intention
OF the present leaders of Wall street
is evidently to improve the morals
of railroad managers and to re-.
store public confidence in railroad
securities by show of a great deal of stub
born earnestneSs For weeks and weeks
past the market has been advancing with
out the slightest show of reaction. The
market closed on Saturday with as much
indication of strength as it had
shown OH any Saturday since the boom
began. The great levers of movement
were as before, st. Paul, Lake Shore and
at one time the Western Union, but in the
middle of the week the latter showed
great deal of treacherous tendency and il
will be probably safer for spectators in the
slim margins to leave that stock alone for
the present. Men who hold
| a control Of it and who
know its inside workings are by no means
bullish on the stock. and the recent boom in
it seems to have been engineered solely by
| Bob Garrett, who, upon his return from
Europe, bought large lines of the stock
| in different Offices, and thus slyly
suggested to the spectators that something
must be going on between the Baltimore q
Ohio and the Western Union Telegraph
company, with view to consolidation OF
| some other
| AMICABLE AGREEMENT.
| This induced number of people to buy
! the stock. rushing the price to 81
share, and giving sweet and oily
Bob" a chance of making very hand
some turn by disposing of his purchases last
| week, because the street argument is that if
Garrett sold it some one must have bought
it, and brokers are very much
interested in knowing where the block of
stock has gone. More than one well-in-
formed man believes that it went into
Woerishoffer's Office, and that the enter
prislng leader OF the German
bank has expressed his will
ingness to buy as much more of
that stock as the Gould or Garrett party is
willing to sell. The movement in Lake
Shore and ST. Paul was uninterrupted from
the beginning to end. The advance in the
former is a thorough Vanderbilt deal and no
one seems to know on what it is
based. The advance in st. Paul on Other
hand is a deal of Armour'S, who seems to
be very loyalty supported by his Western
friends and very ably assisted by his repre-
sentatives in New York The advance in the
price of st. Paul stock has so far been
thoroughly justified by the increase in its
earnings, the reports of which are all the
more encouraging, as they do not come
from that company alone, but from
almost all Of Northwestern roads.
THE MANITOBA STOCK
is said TO be the next big card and specialists
in Granger stocks say that there is no rea-
son why either ST. Paul common
or Manitoba should not sell
as high as Northwest common.
The grain markets both in New York and
Chicago has been cratic, but showed no
substantial strength. 1t went up 1 or
cents on wheat, just as fast as it went down
again. The position remains, as we have been
predicting for months past that it would,
namely, that there is plenty of wheat every
where; that is the price here is kept abb
surdly high by all sorts of tricks; that no eX-
port demand of much confidence can be
| expected until the price is put from to 10
| cents lower in this country, or else until
some unforeseen catastrophe puts
| it that much higher in Eu-
rope; but it is almost certain
that even had the price of wheat gone up
or 10 cents in Europe. our spectators
would see the raise and go Is OF 20 cents
better They have been killing the grain
trade of the Union Pacific for several years
and they continued to do so. AS
the leading grain spectators are members
of the different boards, have no
| commissions to pay and exact
exorbitant carrying charges, besides they
can afford to indulge in great many
scALPING TRICKS.
But the result of all of that must
necessarily be ruin to the farmers as well as
to the innocent country Spectator who has
been brought up On the idea that American
wheat under 81 is the cheapest invest
ment commodity. The dealings in wheat
have become particularly dangerous since
the millers of the great Northwestern
centerS like Minneapolis have
joined hands with some of the
Chicago manipulators, as they have the
railroad and elevator men with them.
They are able to milk the farmer to their
hearts content. There was little furry
engineered at the close of the
week in the price of corn and of
hog produce, but it seems to have had no
substantial basis. Corn was put in simply
on the scarcity of the surplus left from last
| years crop, but as new corn is to come
into the market in very few days the adj
vance cannot hold out. AS to hog products,
they advanced merely in sympathy with corn
and although the prices of pork, lard and
short ribs are low, as compared with former
years, the supply of hogs is ample, the
quantity of product in sight is large, and
the export demand not increasing.