The Portland daily press., 1882-04-17
WALL STREET.

Indications Of the Market-PolntS Con-
corning Various Stocks.
New York, April 15.-Wall street reports
state that higher market is probable to-day.
Bear commission houses yesterday sold stocks
openly, but are known in some cases to have
bought quietly more than they sold. Frank
Work is quoted as saying that it is time to buy
Missouri Pacific, St. Jose and Western Union.
Mr.. GoEld is said, on good authority, to have
bought good many stocks within two or three
days.
On the other hand, it is believed that the
rally will not extend far into next week. Mr..
Gould's purchases are believed to have been
made to cover, and the advance affords an ex-
cellsnt opportunity to sell Jersey Central,
Wabash preferred and other stocks. The short
interest will be well reduced by night. Mr..
Gould and Mr.. Vanderbilt are going away
The cliques generally do not wish to begin
bull campaign until they know more about the
crops; meantime the money ana tne skill are on
the bear side.
There are two indications that natural causes
are at work to promote bull market One is
the extraordinary demand for good bonds, the
prices Of which have advanced from hve to
eight points within month. The other is the
foreign buying of stocks. Agents Of European
bankers report large purchases OF stocks for
foreign account. The shipment OF securities to-
day will be large,
= Tennessee bonds advanced on inside buying,
stimulated by the knowledge that an extra ses-
sion of the Legislature would be called to con-
slider refunding proposition made by the New
York bondholders.
Bear houses were open sellers of Western
Union yesterday morning, but gave out buy
orders in the day. Brokers OF some o. tne
large investment houses were prominent buy
ers Very fair points were given last even
ing to buy the stock for raise OF two or three
points.
There were indications of Gould buying of
Wabash yesterday, although operators supposed
n f,,fn ,atio increased their short
lines of the stock.
A check for 81 100000 lately drawn in the
office of a prominenJ broker is said to have been
deposited in an uptown bank yesterday to the
credit of Mr.. Vanderbilt.
Two prominent Vanderbilt brokers watched
Lake shore yesterday but neither bought nor
sold openly A room trader was active IN the
stock under conditions which led to a belief
that bewas executing large buying orders :
Shorts III Jersey Central were notified yester.
day that delay in deliveries would cause stock
to be bought in under the rule. Loans were
made as high as rs, but persistent bears on the
stock bought for cash and sold regular. Oti1cers
of the company declined last evening 10 give
any explanation of the items In the receivers
report.
Brokers supposed to be in the Gould interest
have been buyers of Louisville and Nashville
for several days
q Chicago dispatch says that McGeogh was
surprised at the advance in wheat. de had
been selling the Market DOWN iof tiic pulpoeo
of increasing his holdings at lower prices, but
had advised his following not to sell, assuring
them that he deal was all right.
Denver sold up to 62, at which price there
was general buying. The Osborn party increas-
ed It's holdings, and last evening was very bull
ish on the stock.
A Broadway house bid Michigan Central up
in order to get out shorts at higher prices.
There ar indications that the stock will sell
lower next week, although good judges consid-
or it cheap on its prospects.
The Northwestern Company has lately made
important sales of land. The scarcity OF the
stock leads experienced operators to cop
pei, the current point to short the common
stock
Mr.. Keene isscredited with buying heavily of
Erie He is said to be still short of large
amount of Erie seconds.