The Evening critic., 1881-08-20
Current Rumors In wall street.

Special Dispatch to TIE EVENING CRITIC:
New YORK, Aug. 20.-An impression
prevailed last night among the prominent
traders and brokers that the stock market
for The present, ut least, had probably
turned. Among those at the Branch last
were looking for rather better
market to-day and higher prices
day were the Messrs. Seligman, WORKSHOP
fer, Osborne, Hutchinson, Sage and Ken
nedy. 1t was argued that the recent sharp
decline in prices had caused much general
liquidation and shaking out of weak hold
crs, and this of itself would induce an Gle.
ment of strength. and the general
situation was also liable to be greatly inn
proved by the almost unexpected brighter
prospects for an unusually large and profit
able mercantile trade during the autumn
months. The Osborne party were understood
to have received some very private and
important Saratoga advices regarding the
Trunk line affairs yesterday afternoon,
upon which they covered up their shorts
and bought little for long account.
An officer of the Chemical Bank stated
yesterday that this institution had just
made very large six-months loan at per
cent for party who had not been bOr-
lower before for in eight months and the Sc
curity was prime. 1t Is surmised this is the
Vanderbilt loan on A per cents. However
this may be, there are not q few almost
unmistakable evidences and the belief is
quite general among good guessers that
William & Sons arc large buyers Of Lake
Shore, and there is some new scheme 'afo0t
in connection Herewith. T.s ,
William L. Scott bought stock yesterday
through Osborne, and the Vanderbilt fol-
lowing are believed to be now falling in line
to some extent
There is said to be something important
brewing in the Manhattan Elevated affairs,
and it is whispered that an application will
shortly be made to dissolve the receiver
ship.
The German stock operators are talking
very bullish on the low-priced stocks which
have receded the most, such as X. r., Tex.
Pac., Ont. & West, Mob. and o., and the St..
l.. & San Fran. stocks. Director Higgins,
of the d. l.. W., says the dividends on the
latter will be increased to seven per cent. in
October. The Wabash Pacific people declare
the latter company will earn more money
this year than last, notwithstanding the
lessened wheat crop.
A Chicago dispatch says john Newell,
the general manager of the Lake Shore
road, is nOn-committal on the rum0red pur-
chase by this company of the small con-
Meeting roads rs reported from Saratoga,
and says ave are not in possession of any
new roads and do not know when we will
be. The Grand Trunk is still doing rush
ing business, and there are railroad wars to
the East and wars to the West" There
was an important conference Of railroad
men bit Springfield yesterday upon the re-
vised tariffs of maximum charges. The
railroad officials generally object to the
proposed sweeping reductions.
Respecting the coal market the Coal and
Iron Journal advance sheet says the sit
uation shows but very little change from
last week. The production continues large
and but an inconsiderable amount of coal
appears to be accommodating. At the shipping
ports prices are not lower and are much
better maintained than was generally OK.
pccted would be the case. There is an un
easincss said to exist among the
miners In the Wyoming regions. Nc
indications of an arrangement for cur
taiment of production are evident, although
it is generally thought advisable that TIL,
production should be reduced. In the iror
market there is a large business doing with
out causing any excitement. Prices ar,
very strong, and all inclined to advance
Foreign houses report firmer market TO
money in London. Cable orders are comm,
over to buy Ontario & Western.