The Portland daily press., 1882-03-09
WALL STREET.

The Market Hardening and
Nashville-W estern Union Affairs-The
Pacific Railroads Illinois Crop Reports.
&c.
NEW YORK, March S.-Wall street reports
state that the market yesterday showed a hard
ening tendency There was but little apparent
liquidation, and the raids made showed the
readiness of the Gould Vanderbilt party to buy
stocks. The decline at the close was aceompa-
MED by rumors of trouble in Boston banks. 1t
was also said to have been manipulated. There
is some evidence that leading bears are getting
over on the bull side.
Mr.. Vanderbilt said last evening that he had
bought Lake Shore yesterday. The stock loan
ed as high as 1-64 yesterday, and another
squeeze of the short interest is not improbable.
Mr.Keene is said to have sold Erie yesterday
Large purchases were made for European ac-
count. A rumor was current of new suit
against the company, but no confirmation can
be obtained. Mr.. Jewett says the decline in
Erie seconds is unwarranted, as interest is GER
tain to be paid.
A syndicate has been formed to take the $40.
600, 900 of Louisville and Nashville trust bonds,
The list was started yesterday and before 3
o'clock $S,Co0, 00,0C0 had been subscribed.
ut was reported that the decision rendered by
the Supreme court of the United States against
the Chicago, Danville snd Vincennes Company
would be used against Louisville and Nash
vile to-day, on the ground that the latter COM
pany was largely interested in the Vincennes
road.
1t is understood that the St. Paul and Omaha
Company will consider this week the matter OF
an increase in the capital stock, based upon adj
ditional mileage.
German houses were among the buyers OF
Denver yesterday. There is a report of a new
bull pool in Denver. There are large orders
in the market to buy Rochester and Pitts
burg stock. Assessments have been made
DC n nyuc md sc mar
Texas and Colorado, 10; North River, TO-; Or
egon Short Line, 10; Richmond and Alleghe-
ny, Is.
The Executive Committee of the Western
Union Company recommended yesterday the
payment of the regular quarterly dividend Of
j per cent. The statement to be made to-day =
will, it is said. show material increase in
the surplus, which, December 81, amounted to
$1,014, 1885, The pooling arrangement between
the different cable companies will be of great
benefit to the Western This agreement is ex-
pected to take effect next week. 1t is report
ed that the American Gable company will is
sue either $1,000 in preferred stock and $1,000 in
common stock or $1,000 in bonds and $1,000 in
common stock for each $1,000 cable subscrip-
ton.
Mr.. Dillon bought Union Pacific again yes
terday. The charge that the company has
floating debt of 100000 is denied by parties
in interest, who answers that the company has
on hand 100000 in cash and $50,000,000 in
bonds which could readily be turned into cash.
The annual statement will show that the COM
panY has earned 12a per cent on the stock. It
was reported last evening that Union Pacific
was being raidsd for the purpose of shaking
out Boston holders 1t is stated that most of
the Union Pacific sold yesterday was short
stock There were some good orders to buy in
the vicinity of ILL 1t is alleged that Mr..
Gould and Mr.. Keene are alike bears on the
stock.
Tennessee bonds declined yesterday on re-
ports that go cent per cent bond was to be
issued in place of the present bonds.