The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-03-08
NEW YORK.
Aaairs I'm wall Street.-The Bulls and
Bears Gouging-Adyanee I'm Leading

AAAAtEn "AA otENGt-ANS AAaAAa stAs&s
Bears Gouging-Adyanee In Leading
stocks.
NEw YoRK, March 6.-Last Saturday
evening it was a question whether the
bulls or the bears would win the weeks
battle in Wall street. That question is
now settled by large majority in favor Of
the bulls. They have made fine cam
+paign this week, and they promise to keep
it up in the week to come. The transac-
tions were larger than for long time
past, and the fluctuations, as a rule, unu-
sually wide. Buoyancy was a prominent
feature Of the MARKET and q large advance
in prices was established. The greatest ad.
vance was in Louisville and Nashville,
which rose 24l per cent. Nashville and
Chattanooga ross lSl per cent.
The immediate causes OF the sharp rise
in these shares were the announcement OF
a Harmonious arrangement between the
management Of the two lines, the arrival
OF Messrs. Newcombe and Cole in this city
to finally conclude the negotiations for
the declaration OF large stock and cash
dividend out Of the sale Of capitalization
OF roads purchased aud built by the Nash
vile Chattanooga at low prices, and the
report that the Louisville and Nashville
had obtained controlling interest In the
Ohio and Mississippi Railroad. Pacific
Mail advanced 143 per cent on the
conclusion OF q contract with the
Union and Central Pacific Railroads, which
gives the Steamship Company monthly
subsidy OF 100000. This was followed
by semi-otficial statements that the subsi-
dy would enable the Company 10 provide
q sinking fund sufficient to pay off the
debt to the Panama Railroad before matur-
ity, and also to begin quarterly dividends
in July next. As q natural result there
was great activity in the stock, which led
to the advance above noted. The two
Pacific Railroads also advanced on this
contract-the Union Pacific shares 81 per
cent, and those Of the Central Pacific 81
per cent.
There was marked improvement lin
the Chesapeake and Ohio shares, the
various classes OF stock rising 3a43 per
cent on the announcement that work was
being pushed on the Western connection,
and that negotiations had been concluded
with Western roads which would event
ually make the Chesapeake and Ohio the
shortest trunk line to the sea. The Van
derbilt shares were buoyant and higher
on the unprecede large earnings OF the
various roads. Canada Southern ad-
vanced II per cent, Michigan Central Il,
Lake Shore q and New York Central Il
per cent.
The coal stocks were very prominent,
and advanced to 81 per. cent on the
further advance in coal and the active de-
mand for the product. 0hios advanced
Ill per cent for the common and Is! per
cent for the preferred. The Grangers
were strong, and Ito per cent higher.
Lake Erie and Western advanced 81 per
cent. The telegraph stocks were irregu-
lar. The Quicksilver shares were up2 to
u per cent. To-day's business was very
large, aggregating nearly 100000 shares,
and the closing prices were strong. The
food Of amateur spectators that always
rushes toward Wall street when stocks ad-
vance has reached the street, and the
clamor to buy is great.