Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-03-18
WALL STREET.
Stocks Generally Strengthen
nessee Bonds Going Up.
The Hannibal & St. Joe Railroad
Complication.
Jeweti's High-tOned Reply 10
Vanderbilt.

generally strong, st. Paul, Western
Union and st. Louis & San Francisco
first preferred particularly SO, and the
bears are not cheerful. An attempt
to bring about concerted attack yes
terday proved failure and resulted in
some giving orders to lower nearly all.
Commission houses report buying, and
the foreign demand continues good.
Illinois Central, Burlington & Quincy,
New York Central and Western
Union stocks are going abroad. The
offerings Of security bills continue
very large. 1t is believed the Union
Pacific interests will be largely repre-
sented in the next Denver directory,
although the report that the Union
Pacific Company has obtained control
of Denver is doubted. A pool is
believed to have bought 10000 shares
within the past three days. A rumor
was current last evening that the
April dividend would be paid. There
is said to be pool in Missouri Pacific,
composed of Gould, Sage, Dillon,
Hopkins and their immediate friends,
interested in amounts from 1000
shares upward. The stock is said
to have cost the pool below the
average Of Wednesdays prices.
Tennessee bonds advanced on the
calling Of the special session of the
Legislature. There is a feeling that
an adjustment Of the Tennessee debt
should have a favorable influence not
only on Southern securities but the
general market.
Important developments are likely
to take place soon in St. Paul &
Omaha. There were heavy buying of
st. Paul yesterday for Western ac-
count. A large commission house
offers to pay 6 per cent on st. Paul
common stock for five years, provided
| it can have the dividends in excess of
that amount for the time.
| Western Union was bid up yester-
day upon the attempted covering by
shorts. Drexel, Morgan & Co. are
said to have bought a large amount
for London houses this week. No
tices were given yesterday that stock
not delivered would be bought in. A
meeting will be held to. day, after
which it is said there will be develop
ments in Hannibal & st. Joe pre-
ferred. In reference to the adver-
tized sale of the st. Joe road by
Governor Crittenden, one of the Di-
reotors says that the whole question is
only one Of a difference Of interest
and that any time the company can
put stop to the matter By paying
that interest, say about $50, 900, but
the Directors believe that the courts
will see the railway company has its
rights.
The st. Paul & Duluth company
paid dividend on preferred yester.
day, and they are understood to have
money in the treasury for the next
one.
| Vanderbilt in hts interview Thurs.
day spoke OF the New York,
Lake Erie & Western railroad as being
bankrupt Jewett, in reply to this,
said the road was not bankrupt, and
that the statement was a fabrication;
that he regarded the allusion of Van
derbilt as unbecoming and discredit-
able to him and the high position he
occupies. He regretted to find Van
derbilt placing himself upon the same
platform and in the same business as
those persons whom he chooses to des-
ignate as "bears in Wall street"
When he uses such language it is their
business to depreciate the value of
the property Of other PERSONS but it
a mean and dirty business, and that's
all there was about it. Jewett further
stated that there was no necessity for
Vanderbilts attempting to depreciate
the value Of the Erie property. and
and he regretted exceedingly his at.
tempt to do so. 1t is understood that
Vanderbilt referred to the road as
bankrupt only in the sense that it was
not dividend paying road.
ii A.M.-The stock market opened
generally strong and 5al per cent
higher, the latter being for the st.
Louis Il San Francisco first preferred,
Richmond & Danville and the Nash
vile 4 Chattanooga. However, it re-
opened II per cent lower. In the
early dealings the market fell off IaE
per cent. This was followed by an
advance of from / to It per cent. in
which the Omaha common, Lake Erie
& Western, Denver & Rio Grande,
Alton & Terre Haute common, New
Jersey Central, Missouri Pacific,
Western Union and st. Paul we're the
most prominent.
Money-41 per cent; prime mercan-
tile paper, 5a6 per cent; bar silver,
ll3f.
Exchange-steady, S5t for long
and SO for sight
Governments unchanged, except for
extended 5s, which are per cent
higher. States are dull, Tennessee
mixed are per cent lower, with rail-
roads generally higher. Stocks-After
eleven o'clock the market was
moderately active, and after frac-
tional advance the general list fell off |
bal per cent, Denver & Rio Grande
leading, while Nashville & Ohatta-
nooga advanced II per cent; Pacific !
mail, l per cent; Western Union. Ii
per cent. AT noon the market was
Irregular.
Bonds-Sixes extended, 1003; 5s,
1921; As, ll3i; As, liS, Pacific Is Of