Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-03-14
Prices Strong and Higher
Gould on Top.
The Bears Opposed to Further
Depression.
Cool Estimate Cutting by Dealers.
latest Rumor as to TsunGssss Bonds.
The Memphis e. Charleston
scheme Opposed.

New YORK, March 14.-Gould's
exhibition of securities yesterday ap-
pears to have controlled the market,
as prices this morning are strong and
higher.
1t was stated yesterday that Mis-
souri, Pacific had been called, and the
bears wonld have to cover at loss.
Gould's brokers said Missouri Pacific
would be loaned fat, but parties were
notified if deliveries we're not made
the stock would be, bought in. Itap.
peared later that Gould had given un-
limited orders to buy Missouri Pacific
and Western Union at the closing
prices of Saturday night. Vanderbilt
was said to have given orders to buy
all Lake Shore offered at Saturday
nights closing prices.
A meeting of bear operatives was
held last evening, at which it is said
the prevailing sentiment Of those
attending was against any further
depression. One bear clique is known
to have bought long stock. A Broad
way commission house has been very
bearish, and said last evening it was
time for bears to keep near shorts.
The loan market shows great de-
mand for Lackawanna, Western
Union, Jersey Central and Missouri
Pacific. Stories of trouble in coal
combinations are unfounded. The
quantity of coal in first hands at tide
water is about 100000 tons. The mild
winter has diminished consumption
for domestic uses, but for some other
purposes the consumption has been
increased. 1t is estimated by com
panies and by leading men in the trade
that the output for 1882 will be about
29,OOO,O 600 tOns-the same as last year.
The mild winter is thought to have
just about neutralized the natural in
crease of consumption for the year.
The President of large coal company
says all the cutting has been done
by dealers, no company having
sold below schedule rates. The Van
derbilt party bought Lake Shore,
Northwest and New York Central
yesterday. The latest rumor in regard
to Tennessee bonds is that the new
proposition will be 4 per cent at 100 in
place of a 3 per cent bond at 136.
West, Strong & Co., large buyers Of
Western Union, yesterday bid 78 for
any part of 5000 shares ii the after
noon Gould's buyers say their order
to buy at n! is unlimited. There is
much opposition being manifested as
to the Memphis & Charleston consoli-
dated scheme. Many stockholders, it is
claimed, will refuse to sign an agree
ment with East Tennessee Company.
London bought Erie, Reading and
Central Pacific yesterday. Amster.
dam bought G. G, G. 4 l. and large
amounts of NJ, K. & T. seconds.
Frankfort demand for for bonds was
better than for several months, chiefly
for Denver & Missouri Pacific frsts.
Thcre is an improved foreign demand
for Atlantic & Pacific frsts since they
have been granted by the Southern
Pacific.
The breaks on the line of the Chi
cago, St. Louis & N. 0. railroad caused
by the overflow have been repaired,
and through trains are now running
again to Cincinnati.
1lAM--The stock market opened |
strong and sa4! per cent higher than
yesterdays closing Richmond & Dan
vile, Hannibal& St. Joseph preferred, |
Rochester & Pittsburg, Missouri
Pacific and Illinois Central being most
prominent in the advance. In the
early dealings a further advance of
ball per cent was succeeded by de.
cline of fa2 per cent in Richmond & |
Dauyille and New Jersey Central.
AtlI o'clock the latter recovered |
per cent.
Wheat la3c lower, unsettled and
less doing.
Government bonds are quoted thus
6s extended. H. 5s, 1925; 43s, ll34;
5s, lis; Pacific 6s, 50 to 125.
NEW YORK, March 14.-Money G |
per cent. Prime mercantile paper 5 to
6 per cent discount. Bar silver ia.
Exchange steady at s5i for long, S91
for sight. Government bonds per
cent higher for extended IS, lower for
registered As; the rest are unchanged,
State bonds dull; Tennessee mixed
per cent lower. Railroad stocks fairly
active and higher.
Stopks-After II o'clock the mar
ket was fairly active, and after frac-
tional advance, foil off to 2per cent.
Denver & Rio Grande, New Jersey
Central, Lackawannaand Wabash pre-
terred were most prominent in the de-