The Portland daily press., 1882-04-18
WALL STREET.


Saturdays Report from the Financial
Center.
New YORK, April 17.-Wall street reports
state that the principal features of Saturday g
market was the absence of orders There
were three points OF interest. the strength of
Wabash preferred, the strength OF Tennessee
bonds and the weakness of Reading. The
Aeene-O Osborn party drove short to cover in
vestment buying; sustained prices. There was
a fair demand for stocks for foreign account
The hest information still is that prices bid
fair to 60 somewhat lower. Some of the
strongest combinations in the street are heavily
short, and will attack certain stocks in order to
cover at a profit. No equally strong combina-
ton is ready to resist such attacks. The fight
is between investors and shorts, with the
heaviest weight temporarily on the side of the
shorts. Natural causes, however, are daily
transferring weight to the investors scale of
the balance. Commission houses state that
customers who have not bought stocks for
months are buying moderately Capitalists
who made haste to sell during the peg era are
buying. Second class bonds are beginning to
advance. Late purchases OF securities for
foreign account are estimated by good judges
70 have amounted in the aggregate to $5,000,-
600.
London brokers bought late Saturday after
noon, possibly with an eye to strong opening
in London to-day Traders were the sellers af
Reading Saturday, but the lots offered created
belief that some large holder was unloading.
1t is understood that the directors of the Jer-
sey Central Company will not order an elec-
ton May 9th. The Gowen- Vanderbilt party
will apply this week to the Supreme Court or
to the Chancellor for an order compelling the
directors to hold an election.
Bear points on Denver were again In cir
culation yesterday. A clique called by insiders
an "Independent poo'' sold stock Saturday.
Charles Head & Co. bought for Boston ac-
count. A large block of Louisville and Nash
vile was sold Saturday for the account OF
prominent director. 1t is alleged that Mr..
Fink will become director OF the Louisville
and Nashville Company, and there are hopes
OF inducing him to accept the Presidency.
Insiders have certainly been sellers OF New
York Central for several days, and 1t is alleged
that large block will be thrown on the
market early this week.
An operator very near Mr. Gould put
friend Saturday into Missouri, Kansas, Texas,
telling him to sell it at 38. Mr.. Gould, some
time ago, advised some OF his following to
realize ON Western Union and Missouri Pacific
bat to keep their heldings OF Missouri, Kansas
and Texas.
A rumor was circulated yesterday of a lnove-
ment in Pacific Mail. 1t could not be traced
to an authentic source, and about the only
thing in support of it was the Offering of puts
near the market price of stock.
There has lately been strong buying OF New
York, Chicago and St Louis common stock.
Some purchases have been made for foreign
account Insiders, who have been bnllish on
Lackawanna, have advised their friends to de,
lay purchases. A prominent holder is alleged
to have recently marketed 10000 shares Long
stock was sold Saturday.
Several brokers identified with the Wander
bilt party were sellers of Northwest common
Saturday.