The Portland daily press., 1882-04-19
WALL STREET.
No Boom ct in Sight.-The Market in
Possession of the Bears.

No Boom" Yet in Sight.-The Market in
Possession of the Bears.
NEW YORK, April 18.-Wall street reports
state that in yesterdays market the loss of ca
bic orders furnished the pretext of attack, and
the Vanderbilt and the coal stocks were known
to have no support. The Twenty-third street
party is said to have given the selling order
also information to the effect that Mr.. Wander
bilt had reduced his selling limit on. Lake
Shore, and was getting out of Reading with
all speed. The rumor served its purpose, al
belt the friends of Mr.. Vanderbilt say that he
sold his stock some time ago. ana IS out of
the market. There was little outside buy
ing. Commission houses said last even
ing that the purchases had been in
small lots by parties intending to take their
stock out of the street. There was some talk
last evening of a rally on an accumulation of
foreign buying orders, and on the over solid
condition OF the market. The short interests
appears to be enormous, four or five stocks
loaning flat, but it is alleged that considera-
BILE part of the apparent short interest is tieti-
tious. Traders ceartainly cover at every indi-
cation of rally. On clique covered three
times yesterday. Mr.. Goulds house is large
lender of money, and Mr.. Vanderbilt is said to
have lately paid off large loans.
THERE'S undoubtedly steady growth OF bull
ish feeling upon the market of the future, but
rallies aside, it looks though the great opera
tors had bequeathed the market for the mo-
ment to the bears. A New street house sold
"reams'' of Lake Shore. 1t wassrumored that
the Vanderbilt selling limit had been reduced.
Traders covered just above 105, but large stop
orders carried the price down and the short
lines were put out again. A good deal of long
stock was sold and Vanderbilt brokers declared
last night that the price would go below par
this week.
Cleveland operators covered shorts yesterday
and have, it is said, large orders to buy at par.
ls,tr frxpf has nnts
bring stock back from Europe. 1t was rumored
last evening that statement would be out
soon showing that Lake Shore had increased
its bonded debt this year, and was not earning
its dividend. Vanderbilt houses continue bear
ish upon the stock. German brokers last even
ing advised their foreign correspondents to sell
Reading.
An operator, who claims to have exact in
formation in regard to the business of the New
York Central, says that the earnings are light,
and bid fair to show no improvement for some
time.
Wabash preferred acts as though shorts Were
picking up the stock as fast as they could with
out advancing the price. A rumor of Gould
buying Jersey Central was circulated last
evening.
New York and Philadelphia bonds were taken
yesterday by prominent trust companies and
financial institutions.
Bear points were given last evening upon
the high priced investment stocks. There is
some buying of Government fives by specula-
tors in anticipation of an upward turn. The
demand for currency skies yesterday was very
large at the highest prices yet bid for them.
The strength of Erie was attributed to the
purchase of control of the Cincinnati, HAM
ilton and Dayton stock in the Erie interest
Rumors of a consolidation of the Boston and
Maine and Eastern railroads continues In the
event of a consolidation Eastern stock, it is be-
lieved, would sell at par.
There are indications that Denver will be
few points lower, preparatory to consider
able RISE Boston houses bought the stock yes
terday. The earnings of Denver for the Sec
ond week in April were $127, ,324, an increase
of $31, IA.
Eureka Consolidated declared dividend of
30 cents per share.
A shrewd trader manipulated Union Pacific
down and is believed to have bought at the de-
cline. A great deal of short stock was sold
without bringing oat any block of long stock.
The decline in Tennessee bonds yesterday
created belief that the rise had been mani
pulated.
Baltimore is buying Virginia 10 40s.
st. Joe and Western stock is in demand at
advancing prices.
The operations of an exchange court house
in st. Paul and in Northwest, yesterday, indi-
Gated desire to absorb stock.
Six thousand shares of Ohio and Mississi ppi
stock were shipped to Europe last week.
The earnings of the Milwaukee, Lake Shore
and Western road for two weeks in April were
$32,S00, an increase of $11 ,671, or So per cent.