The Portland daily press., 1882-03-20
WALL STREET.
The Bears Demoralized-The Pool in Dem
ver-The Hannibal and ST. Joseph Con-
+rcu

The Bears Demoralized-The Pool in Dem
ver-The Hannibal and st. Joseph Con-
troversy
New YORK, March 18.-Wall street reports
state that the bears are demoraliZed. An at
tempt to bring about a concerted attack yester-
day proved failure, and resulted in some OF
the big bears giving an order to cover. The rise
was so strong that a prominent commission
house was instructed to check it in order to
have something left for to-day. The feeling is
that the market should have reaction and
then a further advance. Nearly all commits
sion houses reported better outside buying
yesterday than upon any previous day for a
long time. The foreign demand continues good
and large purchas were made yesterday. 1lli-
nois Centr IL, Burlington and Quincy, New
York Central and Western Union are going
abroad Offering of security bills continue
The pooli Denver, said to contain Messrs.
Gould, Osborn and Work, advanced the stock
yesterday. 1t is believed that Union Pacific in
terests will be largely represented in the next
Denver directory, although the report that the
Union Pacific has obtained control OF Denver is
doubted. The pool is believed to have bought
10000 shares within three days. The advance
was assisted by large purchases In the Woeris-
hotter interest, by room traders, on investment
and large foreign orders and on alleged cover
ing by Mr. Keene and others. A rumor was
current last evening that the April dividend
will be paid.
Philadelphia advices state that the counsel
of McCalmonts has consented to Withdraw
objection to the issue of Reading deferred
bonds.
The parties interested in the Hannibal and
St. Joseph Road do not think the announce
ment that the Governor of Missouri will sell
the road next October will amount to anything
serious A ldirector states that as the matter
stands at present there is only question OF the
difference of interest now pending, and the
company can at any time put stop to the
whole matter by paying that difference, about
100000. The company, however, believes that
the courts will see that the railroad will
have its rights accorded 1t is understood that
on the filing of an amended bill in equity in
the United States Circuit Court next week, an
application will be made to Judge McCrary
in chambers at Keokuk for an order restrain
ing the Governor from selling the road. 1t il
also stated that should the Governor decide to
convene the Legislature to redistrict the State
he will be importuned to include the Hannibal
and ST. Joseph question for the consideration
of that body.
There is said to be pool in Missouri Pacific,
composed of Messrs. Gould, Field Sage, Dill
lon Hopkins and Perkins, with their immedi-
ate friends interested in amounts from 1000
shares upward The stock is said to have cost
the pool below the average of Wednesday s
prices. Members of the Gould party say that
the large shorts have only begun to cover.
Tennessee bonds advanced yesterday on the
calling of special session of the Legislature
April 6. There is feeling that an adjustment
in the Tennessee debt would be strong bull
argument, not only on Southern securities,
but in its influence in the general market. A
New York pressure on the Legislature Is ex-
pected.
lie predicted. Mr.. Vanderbilt's plan is said to
be to advance the stock materially in the belief
that such an advance would cause large buying
of the stock here and in Europe
Mexican national subscriptions advanced yes
tsrday on the report that the Union PACING
Company had acquired control Of Denver, and
that therefore the Mexican Oriental road
would not be built.
There is no doubt of the existence of strong
bull pool in Louisville and Nashville, and in
siders talk very confidently Of rise in the stock
next week.
The Garrett-Gowen party is said to have Sc
cured stock enough to control the Jersey cleo
ton, even if the new issue should be made. Mr..
Vanderbilt's purchases are understood to have
been for the purpose of holding the balance OF
power, as in Reading. The, short interest IS
very large. One house is known to be heavily
short 'EN 4SsS
Western Union was bid up yesterday upon
attempted covering by shorts. A large amount
of stock was bought for a London house. The
new pool is thought to have begun buying. No
tees were given yesterday that stock not dellV-
cred promptly would be bought in.
Western orders have been received to buy
St. Paul and Omaha and Milwaukee and ST.
Paul
The second instalment Of $15,000,000 on
De Lesseps Canal Company has been paid in
Paris.
A strong movement in Wabash and elevated
railroad stocks is expected next week. the
Bank of Montreal was among the buyers
here yesterday of Minneapolis and Manitoba
Railroad bonds of all classes are in active de-
mand.
A Danyile (Va) dispatch says that 5000 feet
of waterfront with 1000 horse power were pur
chased on the Dan river yesterday for the erec-
ton of cotton factories, mills and machine
shops, for which $4,000 were paid.