St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-02-11
FINANCIAL.
New York.

special 70 the Clio e.
New YORK, Feb. 10.-The stock market
opened S@4 lower with Lackawanna,
Western Union and Union Pacific in the
lead, and, with those stocks leading it is
wholly superhuous to state what party Was al
the helm. Washington Conner, Goulis
partner, distributed buying orders all round
the room early, so as to start the business oil
the day in proper manner. Then all the
small brokers joined the procession and
everything was rushed up to the highest fg'
ure yet touched Union Pacific rose to 57112
Northwestern to 81, Western Union to 63H
New York Central to S95s, Lake Shore tc
631I. Llckawanua to 9824 Delaware & Hud-
son to 743I, and Chicago, Burlington &
Quincy to 1924.
ST. PAUL WAS HEAVY
and did not respond easily. The earnings OF
the Illinois Central for the month of January
increased s31, SAL. The Central Pacific state
ment for December shows net earnings OF
S4l1016 The bull party is just as confident
as ever that the market is going higher.
The programme laid out this week is To have
a strong market five days and weak market
one day, 50 MS to get ont more shorts. Out
side opinion is very much divided on the
future Some think the rise is about over
and that bic traders have realized. There
uas been some increase of outsiders foE
Western union and Northwestern. 1t is un-
douOt-dly true that there are still some
HEAVY SHORTS OUT IN WESTERN UNION.
oil f,as faL-an mnflgl
protection Of Mr.. GOuld's wing.
A block OF Rockefeller stock in st. Paul is
said TO have been sold yesterday, and brokers
declared that about u ton of it came on the
market from somewhere. The Gould party
say that the short interest is increasing
Western Union people say that the operator;
on the Bankers & Merchants and Postal
lines will soon strike for salary overdue
The Northwestern people believe their favorte
will lead the granger stocks upward, not
withstaudine the blizzard and It's tendency
to increase operation expenses and lessen
the traffic. with regard to the market as 6
whole. All that can be said is that the party
now running it have
SHOWN THEIR ABILITY
to do with it just what they please, entirely
independent of natural causes or infueD ces
aud those who wish to deal in stocks at pres
ent are entirely at the mercy Of a lot Of TN
priucipled gamblers and sharks, who only
live and thrive upon the misfOrtunes Of theil
victims. To those inside the ring 1t is al
comely and pleasant, but to outsiders it Is
simply Il game Of blind-man 's-bluf The
Mail and Express this afternoon say; ''Tht
short interest in the market il still large, ;
fact which is reflected in the strength of tn,
loauing rates for usually active stocks and
the large borrowing demand for the same,
/ both in
! THE LOAN MARKET
OF the exchange ana the brokers' offices. Thu
supply of floating stock available for dali.
use in making deliveries is steadily decreas-
ing, which can BE- accounted for by constan
transfers from brokers' names to those o
capitalists of large and small means Tn
books of prominent companies like Western
! Union, the New York Central, the Lacka
wanna, the Lake Shore and tue Northwest
ern, afford striking illustrations of thi
movement.