The Portland daily press., 1882-04-12
WALL STREET.
Mr. FinK on Railway Vanderbilt
and Lake Shore-Railroad Earnings, &c. +

Mr.. FinK on Railway Rates-Vanderbiio
and Lake Shore-Railroad Earnings, &C.
NEW YORK, April 11.-Wall street reports
state the market will probably be higher to-
day. The advance will bring good buying.
Some of the shrewdest traders think that the
short interest is over-estimated. information
yesterday afternoon from parties who have
been right was to the effect that the market
was not purchase. On the other hand
Western Union turned the market apparently
on the buying OF long stock. Wen informed
people claim to know that Vanderbilt and
Mills bought Lake Shore. A prominent Gooid
house put its customers into stocks with more
than ordinary confidence. Keene brokers last
evening looked for higher prices today.
Foreign houses anticipated a good London de-
mand for stocks Mr.. Gould did not come
down town yesterday. He intended to start
for the West Sunday night, but changed his
plans, and is understood to have attended yes
terday two important conferences, at which
Gould, Vanderbilt, Field and other gentlemen
were present. The result of this conference
could not be obtained. The bearish feeling on
Jersey continues.
Commissioner Fink said yesterday that he
did not look for another railroad war. The
roads agreed in wanting to make some money.
The Grand Trunk was carrying an increased
percentage of flour, grain and provision from
Chicago because its outstanding contracts were
not filed. 1t had made no cuts since the pool
Company was not cutting rates last Saturday,
and he felt entire confidence that it would not
break the agreement. The meeting of the ex-
ecutive committee had no connection with the
reports of cutting rates. East-bound business
was rather light. and the trunk lines were not
earning as much money as they were year
ago, but he considered the prospect for the
season favorable.
Considerable covering in Lake Shore was
for Chicago account yesterday. An officer of
the Lake Shore Company states that Wander
bilt has not sold his late purchase of Lake
Shore, and that his holdings as shown by the
books of the company, were very large.
Brokers do not agree as to the amount OF
short interest in Western Union stock. The
earnings of the company continue to increase
Mr.. John Il. Duff has said within day OF
two that the report of the negotiations for the
sale of the Hannibal and St. Joe stock to the
Burlington and Quincy Company was sub
| stantially correct.
The Rhode Island Company is said to con.
| template an extension Of the Cedar Rapid,
and Northern Road into territory beyond
| Sioux City.
The earnings of Denver and Rio Grande the
| first week In April were SIPS I'll, being an in
crease of $21, 043 over the same week last year
The increased earnings since January are
| $437, $50.
A Cincinnati dispatch says the railroads are
cutting passenger rates to New York by com
bination with steamship lines, by selling
through tickets from Cincinnati to Europe al
50 less than the passage money and fare te
New York combined. The steamship line i,
then allowed full rate and the whole reduction
is borne by the railroads.
What appears to be inside selling of Denver
is understood to be to facilitate powerful poo
in securing stock.
Northwestern is said to have been sold on
probable decline in the earnings for about {
month. The earnings of the Milwaukee, Lake
Shore and Western Company increased 65 pei
cent. the first week in April.
The pool in Northern Pacific common is un
derstood to have distributed its stock, but al
upward movement in the preferred is expec
| ted.
Washington bought Northern Pacific yester
| day, and there are rumors of favorable actor
| in Congress this week.
The new management of the Toledo, Del
| phos and Burlington Company is buying thu
! securities of the road.
A morning paper says the present deal il
| South Pacific is not calculated to increas,
public confidence in mining, stock, as it Il
known from good sources that the insider
have for some time been the recipients of al
offer for the entire stock, the same being from
the English connections of Prof. Treadw ell
the latter gentleman having been kept in thi
city for period of three months awaiting
orders to visit London as soon as the outstand
ing stock could be bought up. The market fol
the stock has been depressed in every possible
way, and made to look weak through the
operations of brokers known to be identified
with the promoters as free and constant sellers
and the plan is as soon as the company gets al
the stock in hand to advance the price in Thu
market to high figure, so as to make it lool
cheap in London at the price they are willing
to sell it at there. When reputable member
of the New York Stock Exchange urge the
public to buy their stocks aud then, afte
changing their plans, do everything possible t.
shake their friends out of stock bought, it il
time to call the attention of investors to suct
schemes and show up how little they regard
their work.