The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-07-18
RAILROADS In THE MARKET.
Stocks Under the Control Of Chicago Specu-
lators-The Future Of the Railways.
81 ,cial to the Indianapolis Journar.

81 scial to the indianapolis Journal
NEW York. July 1.-THE stock market seems
to be absolutely under the control of Chicago
spectators. They not only affect it by their
manufactured reports in regard to the prospects
of the crops, but also by the actual buying and
selling of an immense amount of certain class
Of securities. The don't seem disposed to touch
the trunk lines and the Southern aud South
western railroads. but they seem to have an alb
solute control Of the grangers and Western
Union. and that is sufficient for them to be able
to manipulate the market at their own sweet
will. AS far as New York is concerned, it has
been clearly demonstrated within the last ten
days that, with the exception of Victor Newcomb
and the Standard Oil people, there was no large
operator in the market Newcomb, however,
has Of late become power sufficiently strong to
affect the market even without the assistance of
his Standard Oil friends, and he has been SO
successful for the last year or two that, his shy
and retiring disposition Notwithstanding, he has
accumulated very large following.
1t is difficult to express any opinion in regard
to the immediate future of the stock market but
if the crops are not as badly damaged as has
been reported, and if European complications.
which are beginning to be seriously talked
about, become more pronounced, we are likely
| to have very strong and advancing market both
| for stocks and bonds. At the slightest indica-
| ton OF danger to peace, the European capitalist
big as we'll as small, will put all his spare cash
in that class of securities which are likely to be
| the least affected by complications at home and
among which securities the American railroad
| bonds and shares will occupy front seat.
| AS far as the weeks market is concerned,
there is nothing particular to record except the
weakness of the coal stocks and the slow sag
| gng of Western Union, which was SO foolishly
hoisted under the cover of the Fourth of-July
festivities.
/ There was renewed activity in ST. Louis g.
| San Francisco stock during the week, conse-
| quent upon the process of consolidation with
the Atchison, Topeka Il Santa Fe road. The
| expenses of this road are at ratio as low as
those of almost any road in this country. and in
order to still further reduce them, the company
has under consideration a proposition to ex-
change its traffic agreement with the Atlantic IL
| Paciflc for joint guarantee of the prin-
| cipal and interest of Atlantic g. Pacific
i bonds at per cent by the ST. Louis 81
| San Francisco and Atchison roads. If the ex-
| tensions and improvements projected by the San
| Francisco company come up to the expectations
| of the present management, the preferred and
even the common stock will undoubtedly be
| classed among the dividend payers within year
| after the opening of the new lines.
The first through train the Canadian Pa
! ci6c reached Port Moody on the 4th inst, having
| made the distance of 1886 miles at an average
/ speed of twenty one and oneh half miles an hour
1t is the design of the road not only trains
faster than this, but to furnish special accommo.
datlonS and inducements to commercial travel
| ers in order to build up the trade along the line
| One project is to run train regularly for their
| convenience, stopping at every station along the
/ route, and fit it up to accommodate samples of
/ all the commodities dealt in The opening Of
| the Canadian Pacific suggests wide field for
| speculation. It is not at all improbable that q
| line of steamships will be started between Port
| Moody and Hong Kong, which the repeal of the
/ Chinese restriction act would make pay enor-
| nous profits. This would doubtless be approved
| of by the greater portion of the loyal residents
| of the Canadian Dominion. who would much
! prefer the Chinese immigrants to the lazy Irish
| now employed as laborers. San Francisco needs
/ to look out for her laurels.
| The National Consumers Meat Company has
at last opened three stores in New York. in
| fnrtherance of its long-projected scheme of
/ supplying meat direct to the consumer from the
| ranch These stores have been successful from
| the first, for not only are the prices charged
| therein some 20 per cent. lower than are gener-
/ ally charged by retailers but the meat sold is
| good. This plan of killing beef on the ranches
and shipping East by refrigerator cars met with
a great deal Of opposition when it was first
preached, principally from those interested in
the stockyards, and from the officials of the
railroads engaged in carrying Cattle All this
| ing man of this city finds it in his power to eat
the best meat for 20 per cent less than what he
| could get poorer quality before. RIGoLo.