St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-09
NEW YORA.
Especial Telegram 10 the Globe 7


NEW YORK. Jan. S.-The stock market wa
str, ngthened by the selling Of puts on St.Paul
and Telegraph by leading operator. 1t was
the work of but 4 few moments to advance
prices about l per cent. st. Paul, it was
stated, would show an increase in EARNINGS
for the first week in January Of about $780,
900. One house bought 1000 shares OF it,
supposed to he long stock. Slayback is buy
ing ST. Paul. Slayoack is the biggest bear in
the whole business, and when he buys st
Paul, or any other stock, he is covering
shorts. So far as can be learned, however,
the Chicago gamblers, who have sold st. Paul
q Northwestern have been covering
for three days upon any breaks. The
bear business Of yesterday was oVerdrawn.
The banking houses threatened are all right,
and no failures are expected that will hurt
the street. Indeed, the only house in trouble
is small bear house, and that, In ordinary
times, would not matter at all. The house
was caught short on the graugers and Is
helped along now by outsiders. The tone Of
speculation is boom for the bulls, and
the bears are only covering their shorts. II
is better buying than selling In anything to-
day. The Gould people aud their following
say that they were never more confident Of
higher stock market than at the present.
Brokers say that Mr.. Gould Is evidently
under toe whole market, including the
grsngers and other stocks, and the
traders 10 The room are inclined to
bull stocks with him. Vanderbilt. brokers,
on the other hand, think there viii be an
unsettled market until failure talk ceases
A long line Of Lake Shore stock has lately
been marketed, and Vanderbilt himself Is
credited With selling 10000 shares Of North
western recently. The bear talk continued
on Lackawanna. Gould SAYS OF Western
Union that though It's earnings are falling of
some now as compared with last year, vet It's
decreased expenses will enable 1t TO earn i.s
dividend as usual. Deacon White was buy
ing st. Paul and says that Woerishofrer has
been buying for several days. The Pacific
Mail company announced to-day that
its regular quarterly dividend would
be declared next week. The coal traders say
there will be no serious trouble among the
anthracite com pauIes on account OF dIsaffrc-
ton Of the Pennsylvania company with the
arranged percentages, as they all have com
mon interests 10 subserye and will unite on
some plan. Mr. Gould endorses this view
The earnings Of the Illinois Central railway
for December aud the year 1884 will, it is
stated here, make better showing than ex-
pectrd. The statement for the year will
make the decrease smaller hy $3.50, 600 than
current estimates. The strength in grain
appeared TO help stocks, and as the day wore
on prices frined up, aud the market became
quite buoyant. There was considerable &C
tiyity iu Lake Shore, and Chicago,
Burlington & Quincy looked bet
ter. In the last hour there was a
sharp spurt in Delaware & Lackswsuua, and
the whole list picked up. The bulls talked
considerably OF putting prices higher, and
soue Of them prophesied 10 per cent. ad-
vance during the month. The late dealings
were characterized by considerable activity
aud strong tone. and at the finish prices
were up TO about the highest figures Of the
day. The shorts IN Delaware s LsckaEanna
were squeezed during the afternoon.