St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-30
TRICKS AND TRICKSTERS,
Wall Street Deals and the SpecuIa
ton of the Past Week.
Inc Present Condition of Stocks Not
Good for Money Making.

special to the Globe. EygY
NEW DIRK, Nov 29.-Tbe Suns in-and-
.o,,. ~ ar street article tomorrow will
80 i''ueilhg the unfavorable and in
many cases dangerous influences which
1:.a.io " oedr upon the stock market from
uiholoiit sizes last week. the ctaadinaca
wren IL showed appears positively cir
pii'ihs. MOI only the Baltimore r. Ohio
ePlsode, Tie New York Central inir.ot;A.
ana the unfayorable news in regard N -
lhgS OF western roads and their c, W ca IL
came one on top of the other bnt ~
lapse III the price of wheat and oil The NJ
certainty III regard to the action If oor
gress' the complicated nature of noIitinaI
ASPECT III England and threatening of AFFAIR."
III Spain would each, under different cir
cumstances, have affected our stock snann-
/ latiOn in sympathy with that of Eurone. hTt
the apparent confidence of the pnbIic in the
prospective value of our railroad stocka
seem to have become so firm that no outside
influence seems to be able to detet either
| spectators or Investors, and the moment
there IS reaction Of two OF three points in
any stock, buyers seem to rush in from all
sides. The leading commission honses
testify that their business is steadily in
creasing, and that they had Of late to mt a
camper on some of their customers who
were 100 anxious to buy cheap stocks of So
calleu Wlld cat description. Unless such
ARE PAID FOR IN FULL
Ds customers, brokers are unwilling to deal
, -, Ulioll' partly because they cannot borrow
lioiIey Oh thein Tor carrying purposes. The
IN this category has its sneciaI 1i4tIa a;raI"
Where pools are formed and the monin,,1o'
tlon OF prices is taken care of. Tins tbeTa
Is a pool III indianapolis, Bloonin~ton &,
western, in Lake Erie & Western in
6qsquenanna % Western, in Green Raw &,
Wnona and IN a dozen other stocks of
Wilch the majority Of spectators ignored
tile very existence some six months 400
some OF these pools are indulging in onita
a vigorous policy; thus, for instance a
morning contemporary stated Yesterday
that a pool had been formed in
STOCK OF the Columbus, Hooking Valley
1oieuo railroad, and that considerable
advance in prices was likely to Mace
yet before the close of the market on SAT-.
urday, The stock was knocked down from
81 TO % on transaction of a few hundred
shares. This looks very much like a pre-
llmlnary shaking out of some weak
margined holders At all events. peopls
VINO seem to be posted upon the condition
OF the road say that notwithstanding the
strikes OF miners and the shutting down
OF the furnaces. the road fully
earned its fixed charges in the first ten
months OF the year. One of the officers of
the road said that he would not take three
shares OF Chicago, Cleveland. Columbus q
Indianapolis for one share of Hooking VAL
ley, and that he expected to see the stock
SELLING IN A MONTH
higher than Lake Shore does at present,
AS in all such cases the amount of stock is
comparatively small and is easily handled.
All that is wanted of the pools
operations is confidence in the national
prospect of the propriety and in the hon
esty Of its managing officers There can be
no question that for men of moderate means.
anxious to indulge in little stock specula-
ton, 1t is safer to buy the stock of a we'll
promising road at $40 or $50 a share
than to buy high-prced securities,
Which can in case of calamity
drop on him almost as many dollars in ona
day. The former he can paw for and take
home. The latter he will probably be COM
PEELED to carry on margin and consequently
remain under the permanent influence of
all sorts OF rum0rS and brokers' points"
which seldom result in anything except
enervation and loss of money. The
|
Western states seem to indicate that a
careful investment in cheap railroad prop
critics OF those regions is becoming both SAFE
and promising, and that some of the roads
which are now called wildcats will in q
year or two command quite as high prices
as some OF the gilt-edged securities. Ths
news Of the
RETIREMENT OF JAY GOULD
| from Wall street was not much of a sllr-
prise, for rumors in regard to his plans have
been circulated for some time past, and
have never been positively denied either by
himself or his assistants. The way in
which he now makes his declaration has
the advantage of a plain statement of a
plain fact, and thus precludes all
comments liable to affect stock speculation.
He has evidently sold all the stocks he did
not care to keep, and will be out of the
market as far as the stocks he still keeps
are concerned. Spectators and investors
1t is pity that Cyrus W.
Field, who is a much older man than Mr.
Gould, does not make a similar resolution
to withdraw into private life. He is GER
tainly much more unpopular and much less
| trusted than Mr.. Gould, and has none of
the immense abilities which the latter dis
PLAYED in the majority of his enter
prises. Everything Field ever did in
the way of public enterprises
was always done with the advice
and material assistance of Gould, and even
i'll the transactions which Gould refused to
take part in Field always used his name,
just as he
TRIED TO USE vANDERBILT's
name in connection with the Manhattan
company. The snubs which he has re-
Gently received from Gov. Robinson and
Mr.. Vanderbilt should really be
enough inducement for him to
make room for men who have not
yet so damaged their regulations for
veracity and for disinterestedness of pur-
pose. The grain market, as was all along
anticipated in this column, has had very
serious break in prices, and wheat will
probably sell some 4 or 5 cents lower
still. and particularly if freight rates are
seriously maintained. But the speculation
on the short side of the market becomes
somewhat risky the chances Of profit nos
commensurate with the chances of loss. A
man cannot expect to make more
than 8 or cents by selling May OPP
tions, for instance, at about 80
| cents, while he can see wheat very easily
| put up to 81 a bushel by any speculative
combination, based on some European COM
plication or on fabricated reports in regard
to the prospects of the winter wheat in the
ground.