The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-11-23
THE WIRES WAFTINGS.
Continued from First Page
Commercial and Financial

FAILED.
PHILADELPHIA, Nov. 22.-The suspension
of Oswold Hanna, stock broker, No. 40 south
Third street was announced, though liabili-
ties not heavy.
STOCKS AND BONDS.
New YORK, Nov. 22.-The stock market
opened generally stronger and above yes.
terday's close. In st. Paul, MINNEAPOLIS &
Manitoba the market continued strong, and
a further advance of l(J2 took place, in
which Northwestern, Lake Shore, Balti.
more & Washington and Michigan Central
we're most conspicuous, but subsequently,
the list became weak, and at IL O'Clock
Michigan Central and Northwestern fell off
., Lake Shore II, and the remainder
of the list l@li, the latter
Canada Southern and Lackawana, West.
ern Union, 799 Union Pacific, l.0i. Since
II o'clock, have been active, very weak and
prices declined 6(@6l in st. Paul Mime.
apolis a. Manitoba, lCg3s in the remainder
of the list, Missouri & Pacific Denver &,
Wabash, Chicago, Burlington II Quincy,
Canada Southern, Missouri Kansas IL Tex.
as, Reading and Northwestern preferred.
being most prominent in the downward
move. AT noon, some shares recovered
somewhat The general market was much
depressed; 5's, cX-coupons, l.Oll; 4l's, / 10;
As, l0s 5's, l.02. Money, 10; prime mer.
camille paper, to "a exchange, steady;
long, 81. Governments unchanged, except
Al S coupons, which advanced /.
New York, Nov, 22-Governments ir.
regular but generally lower at per cent I;
railroad bonds, in the main, were higher:
state securities neglected. The day opened
with great excitement on the stock ex-
change, and dealings up to noon were on a
scale of great magnitude. Sales of stock up
to noon, 40, 900 shares, which is beyond all
precedent for twenty-four hours. Business
in the early transactions were large, sup
porting orders were in market, ana timid
operators rushing to cover their purchases,
leading to an advance of per cent. on the
closing prices of yesterday. This sharp
rise was followed, shortly after first call by
a radical change in the temper of specula.
lations, and the bears were soon in com
plete possession Of che market Those who
had bought stocks at the opening, threw
them overheard, and large telegraphic or
ders were received by brokers to sell, both
from east and west, at different times,
During the morning the market was demon
allied, and haste to dispose of stocks caused
decline of and 2 per cent. between the
sales in many instances. About noon there
was decided change for the better and
prices recovered lMli per cent. There
were several free purchases, to cover short
contracts, and considerable buying tor in.
vestment and some bankers received by cable
considerable orders for stocks, especially
for Wabash preferred, Denver Central
Pacific and Louisville e Nashville. The
market continued to advance up to the
close of business, and not only was the
early decline fully recovered but higher
quotations than those current at the close
yesterday were established. In many in
stances transactions were simply enor.
nous. Considerable excitement prevailed
Western Union rose y per cent, to Sll;
Northern Pacific, 3 to II; preferred q u
1884, Oregon Transcontinental - to 81;
Michigan Central, 81 to 97l; New York Cen.
trial, to lbs, Delaware Lackawanna 4
Western, 3 to l274; New Jersey Central, 81
t. 81; Reading 3! to 5OE Kansas & Texas
Pacific q to SO; Missouri Pacific, n to 1921;
vile, 81 to 5lt Denver 81 to
0iE st. Paul & Omaha 8 to 3il;
preferred 1924 to 1929; Missouri Pacific and
Texas Il Pacific los Is to l0i; Northwestern
1884 TO l3ii. These were the leading fea
lures of the market. 1t appears several o.
the prominent spectators, including some
| who have recently been on the "bear" side
Of The account, were heavy buyers Of
stock this morning, when short, ant
decline forced great many weak holder.
on to sell. Whether these operators hay,
bought fora turn with view of frighten-
| ing short interest into covering, or whether
| they have decided to enter into prolonged
movement on the bull side, time will deter
mine. Accompanying the advance this after
noon were reports that upon the arrival o
| tho ntiniala Nf tha Nnth rnal Ia.
are now on their way TO this city from the
west settlement of existing diilicul
ties would be speedily arranged
Among the soecialties st. Paul & Milwaukee,
advanced to lili Fort Worth & Denver :,
1871; Indiana Bloomington Il Western /,
49, Richmond & West Point Terminal /,
% At one time during the day rumor o
trouble in the Trunk line pool was current
but this was subsequently denied. Officer
of the Kansas Pacific road, who We're IL
consultation with u land syndicate, official,
state that preferred stock, to be given ii
payment for land, will be bought in thu
open market in $1,000 shares, and that
portion has been already bought. Whei
the full amount is obtained 10000 share
will be cancelled,
SUSPENDED.
| The stock firm of Buttrick & Gilman
which suspended to-day, is expected to re
sumo within the time allowed by the rule
OF tho exchange. Members of the firm re
fuse this evening to make public the reason
| of suspension, but an officer Of the OK
change expressed the opinion that the,
were loaded with securities upon which 1
is difficult to borrow, and the margins were
very great, and were unable to keep NJ
with the market. II is thought no othel
firms will be affected by the suspension.
The Mail and Express says: The intens,
depression and great shrinkage in values OF
the stock exchange this morning, aner tn,
heavy decline which had previously takel
place, naturally formed the all.ahsorhinl
topic of conversation in financial circles
beyond tho railroad war in the northwest
which is somewhat local In It's character
and confined to a few roads. There is reall,
nothing IN the general situation to warrant
any such decline in stocks, as has jus
taken place. 1t is true steel rails have dc
clined, and this has given rise to- the hu,
and cry about depression In the iron trad,
which, while there may b,
| Just cause of complaint OF dullnes her,
and there. does not generally exist. On tn,
other hand traffic OF the railroads Il
simply enormous, and IN many cases large
| than ever before In the history OF our rail
road system. The crops OF 1852 are unusu
ally large; our exports of produce and mer
chandisc are steadily ircreasing;. rates o
sterling exchange ara nearly down e
a specific importing point, and the genera
business OF the country prosperous nnS
| healthy. The influence OF this tavorabl,
factor will be felt when tho people shall