Savannah morning news. [volume] (Savannah) 1868-1887, 1886-07-19
RAILROADS IN THE MARKET.
Chicago Spectators in Absolute
Control of die SituAtion.


Control of the Situation.
NEW YORK, July 1.-THE stock mar
ket seems 10 be absolutely under the con-
troll Of Chicago Spectators. They not
only affect it by their manufactured re-
ports in regard to the prospects OF the
crops, but also by the actual buying and
selling OF an immense amount of a certain
class Of securities. They don't seem dis
posed to touch the trunk lines and the
southern and South western railroads,
but they seem to have an absolute
control of the Changers and Western
Union, aud that il sufficient for them
to be able to manipulate the market at
their own sweet viii. As far as New
York is concerned, ii has been clearly de-
monstratcd 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. New
comb, however, has Of late become a
power sufficiently strong to affect the
market even without the assistance az his
standard Oil friends. and he has been 80
successful for the last year or two thar,
his shy and retiring disposition nOt~lth-
standing, he mas accumulated very large
following.
1t is difficult to express anv opinion in
regard to tue immediate future OF the
stock market, but II the crops are not as
badly damaged a 5 has been reported, and
II European complications, which are be-
ginning to be seriously talked about, be-
come more pronounced, we are likely to
have "A very strong and advancing market
both tor stocks and bonds. At the slight
est Indication of danger to peace, the Eu-
rOpean capitalist, big as well 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 "a
front seat.
As tar as the weeks market is con-
ceruedt there Is nothing particular to record
except the weakness OF the coal stocks,
aud the slow sagRing of Western Union,
which was so !ooliShlv hoisted under the
cover OF the Fourth OF July festivities.
There was renewed activity in st. Louis
| aud San Francisco stock during tue week
consequent upon the process OF coneOlIda'
ton with the AtchisOn, Topeka and Santa
Fe road, recently referred TO IN this
! column. The expenses of this road are
at a ratio as low as those of almost any
| railroad in this country, and in order &c
| still further reduce them the company
! has under consideration q proposition &c
! exchange itS traffic agreement with the
/ Atlantic aud Pacific for Joint guarantee
! OF he PRINCIPAL and interest OF Atlantic
and Pacific bonds at 4 per cent. by The
! st. Louis and san Francisco and Atchi
| son roads. II the extensions and i'm
pr0vements projected by the San Fran.
! cisco company came no to the eXpecta
! lions OF the present manaeement, the pre-
| tered and even the common stock vii
/ undoubtedly be c,assed among the divi-
deud payers within year after the open
ing OF the new lines.
The first through train on the Canadian
| Pac nc reached Port Moody on july
| 4, having made the distance OF $50
miles at an average speed Of 2l y miles an
hour. 1t is the design Of the road not
only to run trains faster than this, but 10
! furnish special accommodations and in
ducements to commercial travellers, in
order to build up the trade along the line.
| One project il TO run train regularly
! tor 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 Pac nc sug-
pests wide field for SPECULATION. IL is
no al all improbable that a line 0t steam
ships Will be started between Port No, dy
. and Hong Kong, watch the repeal OF the
/ Chinese restriction act would make pay
enormous profits. This would doubtless
! De approved OF 10y tue greater portion OF
the loyal residents ~ the Canadian domin-
ION. who would much prefer the Chinese
immigrants TO the irish now employ
ed as lsbOrers. san Francisco needs
to look ont for her laurels.
The National Consumers Meat Com
pany has at last opened three stores in
/ New York. in iurtherarce Of It's long pro-
! iected scheme OF supplying meat direct to
the consumer from the ranch. These
stores nave been successful from the first.
| for not on y are the prices charged therein
/ some ~ per cent. lower than are generally
( charged hy retailers but the meat sold is
. good. Tnis plan of killing beef on the
ranches ana shipping East by relrig. rator
cars met vi great deal OF opposition
when it was first broached, principally
/ from those interested in the stock wards,
| and from the officials or the railroads en-
g34ed IN carrying cattle. All This oppO-
| siton being overcome, however. the la
/ boring man of this city finds IL in his
| power 30 eat the best meat for 20 per cent.
| less than what Ee could get OF = poo er