The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1882-04-21
WALL STREET.

The Declining Tendency Not Yet Arrested
New YORK, April 20.-Wall street reports
state that large short interest has been made
made within two days by combinations which
expect to attack the stocks OF which they are
short, and cover alta profit of 4or points. There
are indications that Jersey Central, Denver
and New York Central will be among the first
stocks attacked.
Broad street commission houses were large
sellers of two or three stocks. Office traders
usually bullish, were sellers to an unusual ex-
tent, and there was some selling for London
account. London was also buyer, and great
many small orders to buy stocks for investment
were executed. Investment stocks were found
to be very scarce. Brokers supposed to be act
ing for one of Mr.. Vanderbilt's intimates
bought q large block of Vanderbilt stock
Mr. Keene is reported as saying that ne had
not changed his position on the market, and he
believed that prices would be considerably
lower.
Mr. Blanchard of Erie is quoted as saying
that Erie earnings were light Tor lthe present,
but bid fair to be heavy for the year. He ex-
pected to see stocks higher in the fall. A
rumor is current that Mr.. Gould has been buy
ing Erie for months 1t is not tclear whether
Lake Shore was bought yesterday with de-
sire to absorb stocks or steady the market while
other stocks were sold. Brokers who watched
the stock said that somebody was certainly
buying Lake Shore, that there were no more
stop orders, that the orders were to buy, and
sold at 115 on the way up. Mr.. Gould is be-
lieyed to have increased his short interest in
Jersey. 1t is understood that large loan on
Jersey stock falls due this week, and will not
be renewed.
Insiders say that they will not support Lou
isville and Nashville in case the rest of the
market declines.
Wabash preferred was sold yesterday for
London discount. The buying was general.
A New street house is reported ready to raid
IN. T,,e,l laro hat fha n0k WI hl
supported in case the decline should assume
serious proportions, but there is no disposition
to hinder its moving with the rest OF the mar
ket.
A prominent London house is understood to
have bought 1000 shares of New York
Central yesterday to cover shorts Dealers in
bonds say that investors are unfavorably af-
fected by the lack of statistical information IN
regard to railroad properties, and there are IN
timations of an organized effort to endeavor to
compel railroad companies to make monthly
statements of earnings, expenses, &c. Europe
an and American capitalists are said to be
combined in the proposed movement.
A prominent Vanderbilt broker bought st.
Paul openly yesterday. The directors party
is said to be sustaining the stock.
The party known as the Tennessee clique
predict higher prices for the State bonds.
There was good buying yesterday OF Missouri,
Kansas and Texas. Mr.. Gould seems to have
told quite number of his friends not to sell
Missouri Kansas and Texas except at an ad-
vance of about 10 points. There has lately
been among German houses large speculation
in Government fours. Dividends are payable
to-day on Lackawanna and Omaha preferred
New York Central books open and those OF
Oregon Navigation close. The Evansville and
Terre Haute road earned $16,034 the first week
in April.
A Chicago dispatch says the allotment of
percentage of traffic in the new east bound
| height pool for both live and dead freight has
been submitted to Commissioner Fink, whose
decision the roads agree shall be final. The
| Pittsburg and Fort Wayne and Grand Trunk
roads ask an increase in their pecentages on
| account of their recently established connec-
| tions with the Erie road. The Southwestern
Railway Association have perfected its south
western pool in all its details, result they
have been trying to accomplish for several
| years, but heretofore unsuccesfully.