The Portland daily press., 1882-02-16
WALL STREET.

A Very Bearish Feeling Railroad Notes
The European Situation-The Hannibal
and st. Joe Controversy.
NEW YORK, Feb. 15.-Wall street reports
state that the bulls were very much discour-
aged yesterday, and a good deal of long stock
was thrown overheard. Commission houses
were very bearish n their letters last night.
The feeling up town last evening was intensely
bearish,
1t is said that both the New York Central
and the Pennsylvania companies are endeavor-
ing to secure the Rochester and Pittsburg line
The New York, Chicago & St. Louis Com
pany is understood to have refused an offer of
20 for the common and IS for the preferred
stock, the purchase to be at least controllin e
interest. Arrangements are understood to be
pending whereby the Wabash road will fur
nish the st. Louis branch of the New York,
Chicago and st. Louis road.
The reports of foreign troubles yesterday APP
pear to have been unfounded. None of the
foreign bankers had unfavorable news On
the contrary they said that American gold ar
irving at London had produced good effect
Money was easy and the settlement to-day
would be made without difficulty. A London
house bought considerable Erie in this maIke
yesterday. German houses reported nothing
doing in stocks, but said that Amsterdam was
buying bonds. The report that Amsterdam
has been selling Denver is strenuously denieds
Parties In interest claim that only forty shares
OF DenVer nave D66n transferred Tor AmSter-
dam account since last May.
1t is reported that the Union Pacific Com
pany has signifed its willingness to CONSOLE
date with Central Pacific on the basis of 125 to
100.
The earnings of the Scioto Valley road in
creased sixty per cent. the first week in Febru-
airy.
Vice President Duff, of the Hannibal & st.
Joseph road says the reception of the decision in
Missouri is really as favorable as it is alleged to
be unfavorable to that company, as it leaves
the amount in controversy between the State
and the company a comDaratively small one.
The State issued $3000,000 six per cent. bonds
in aid of the road The road has paid the
State $S,000,000. The road claims that the use
OF the $3,000000 by the State offsets the pay
ment of interest on the State bonds. The
State claims that it offsets it, and to the extent
of the interest actually earned on the So 000,-
600. The question thus becomes merely one of
difference of interest. The State has large
amount of six per cent. $40 bonds outstanding
now subject to CALL or liable to be called, with
in short time. The Missouri Legislature last
winter passed law for the purpose of appro-
priating $3,000,000 that law requiring the State
officials to apply it in redeeming the 20 bonds.
The So, 100000 can thus be used, the greater
part Immediately, and the remainder in short
time, in extinguishing the six per cent. in
debtedness of the State. Mr. Duff supposes
the state ofiieors will now, of course. comply
with their own law, ana that there will be no
claim against the Hannibal & ST. Joseph rail-
road, except for the differences of interest in
the meantime.
The Mexican National Construction Com
pany received yesterday official dispatches
from Mexico from Gen. Trevino dated at Sa-
lado, Feb. 4th, in which it was announced that
in few days trains would be running to Sa-
lado, which is forty-fve miles from the Rio
Grande river.