Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-03-16

Stocks-Share speculation opened IN the
main firm and per cent. higher than yester-
days closing prices for Richmond & Danville
and ]]S@1 per cent. higher for the remainder
OF the list, the latter for Hannibal & st. Joe
preferred and Norfolk &; Western preferred,
while New Jersey Central opened Is per cent.
lower. The market, in the early trade, after
fractional advance, fell off 1s@I per cent,
Louisville s. Nashville, Denver & Rio Grande
and New Jersey Central being NEST prominent
in the dealings. Subsequently the market sold
up, with an occasional fractional decline, but
reacted L@3 per cent, New Jersey Central,
Philadelphia & Reading, Denver q Rio Grande
and Delaware, Lackawanna & Western being
most conspicuous in the upward movement,
while Louisville & Nashville advanced n per
cent, reacted ~ per cent. and sold up 1ss per
cent. Richmond & Danville, however, sold
down 211S per cent. to 1917. In the early part
of the afternoon, after reaction OF 7s@X
per cent. in the general list, the latter for New
Jersey Central, an advance of 1s@14 per cent.
was recorded, in which Wabash, st. Louis q
Pacific common, Denver & Rio Grande and
New Jersey Central were prominent. This
was succeeded by reaction OF 7s@1H per
cent, Wabash, st. Louis & Pacific common
leading therein, but IN the late dealings the
market again sold up 149179 per cent, Louis
vile & Nashville, Delaware, Lackawana d
Western, Texas Pacific, Philadelphia & Read
ing, Denver & Rio Grande, Northern Pacific
preferred and Missouri Pacific being promi-
nent in the upward movement, while New
Jersey Central advanced per cent. to 50, de-
clined Is per cent. and recovered per cent.
at the close. The market closed stronger at
about the highest figures of the day. The
total advance from the lowest point of the
day New Jersey Central was 81 per cent,
Denver & Rio Grande Ssi per cent, Delaware,
Lackawanna g. Western S1s per cent. and
Louisville s. Nashville Per cent. The work
ing of the stock market throughout the day
shows strong power is now back of the
leading stocks. The exhibition of this power
is gradually working change in the senti-
ment of the ssstreet' and of those outside Of
the street who deal in stocks, If the market
continues steady to strong for many days
longer it will cause surprise if outside par
ties and foreign markets become large buy
ers. Prices have been low enough of late to
tempt purchases from the quarters named,
but these have not been made because it
seemed as if the bears of the last two weeks
had such control they could do whatever they
pleased without regard to anything which
should properly affect prices, as the public
and foreign markets begin taking stocks
freely. Then the large short interest" which
has not yet been covered may be expected to
come in and cover, and demand of this mag
nitude competing with other demands for
stocks, might easily give a.bear panic. Evl-
dence accumulates that the heaviest capital
lists are back of their respective stocks and
have put them beyond the power of being
raided by those who have been so successful at
this work in the last few weeks. The leading
Vanderbilt and Gould stocks, to wit: Lake
Shore, Western Union Telegraph and Missouri
Pacific, were steadily strong Throughout. In
the early dealings New Jersey Central. Louis
Vile & Nashville and Denver & Rio Grande
were shaken up, or rather down, but as it was
later proved, for the purpose of buying, all
advanced sharply IN the latter part of the day,
noticeably New Jersey Central. A good many
orders for stocks for outsiders were received
to-day by commission houses and from Eu-
ropean markets, by foreign bankers.
The transactions aggregated 100000 shares:
Central Pacific 1900; Delaware, Lackawanna
8 Western $4,000; Delaware & Hudson $500;
Denver s. Rio Grande $1,000; Erie 10000; Mis-
souri,, Kansas & Texas 10000; Lake Shore
% 600; Louisville g. Nashville $1,000; Lake
Erie & Western 1850; Michigan Central
Northwestern $500; New Jersey Central
$4,000; New York Central 1890; Northern
Pacific 1900; Ontario & Western $1,000; Pc.
oria, Decatur & Evansville 1900; Philadel-
phia & Reading 1900; Chicago, Milwaukee
& st. Paul 10000; St Paul & Omaha $500;
Wabash, st. Louis u Pacific $4,000; Western
Union Telegraph $4,000; Rochester g. Pitts
burgh 3,4O0.