The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1882-04-04
WALL STREET.
Rumors about Jersey Central-Reading
Affairs-GoSstp of the Street,

Rumors about Jersey Central-Reading
Affairs Gossip of the Street.
NEW YORK, April 3.-Wall street reports
that the shrewdest traders bought stocks on
Saturday afternoon for an upward movement
to last two or three days this week. There is
scarcely doubt that the leaders mean to get
the public into the market by letting the pub
lie make money on stocks bought on react ton.
There was good foreign buying of stocks and
bonds Saturday morning. Bond dealers report
steady improvement in the demand, which
some OF them think will become marked this
week. The borrowing demande for stocks was
better Saturday than upon any previous day OF
the week. Lake Shore loaned as high as 1 80,
Lackawana loaned fiat, ST.. Paul, Western IN
ION, Denver and Missouri Pacific lcaaed at
about 4 per cent.
1t is stated that startling developments in
Jersey Central would soon be made public, but
repetition has caused this announcement to
lose some of its terrors. 1t is still believed that
Mr.. Vanderbilt holds the balance of power in
Jersey, and that he proposes to hold it until it
can be exerted in the interest of his plans in
Reading Philadelphia was slarge buyer of
Reading Saturday. A despatch last evening
said that the Reading general mortgage bonds
would be paid off in July. They bear, at pres
ent, about per cent accrued interest 1t iS
understood that the McCalmonts have been
selling their Reading convertible bonds.
The foreign demand for Western Union is in
creasing. Negotiations ARE pending for the
sale of q large block of stock to be placed
abroad.
1t is believed in some circles that the propo-
sition tie issue only $40, SOC, 600 of cable stock
will be replaced by an. offer better suited to
the wishes of cable subscribers. A combna-
ton is said to have been formed to protest
against the carrying out of the proposed plan.
There seems to be something in the rumor
which connects Commissioner Finks name
with the Presidency of the Louisville and
Nashville
Parties whose information is seldom wrong
say that Wabash will begin this week gradu-
al upward movement There has been inside
buying of Wabash general mortgage bonds.
Over 200 members of the New York Stock
Exchange have forwarded applications for
membership to the new Chicago Stock Ex-
change.
May corn is said to be great purchase.
There was extensive covering Saturday, and
good country orders at s"the best figures OBJ
tainable."
1t is believed that the New York market will
be heavy early this week on account of the ad-
journment over Tuesday of the Chicago Board
of Trade.
Texas Pacific officials think that the cotton
crop of the Mississippi Valley will show a
shortage of only few thousand bales
The Woerishoffet party is again bullish on
St. Paul.
The advance in South Carolina non-funda-
BILE bonds is based on steps taken for readiust-
ment of the debt.
There are rumors of new bull combination
in Memphis and Charleston, Milwaukee, Lake
Shore and Western stock is being absorbed by
insiders.
The Mobile and Ohio road has re-established
its connections, and is again taking through
business A strike in the Pittsburg coal re-
gion and suspension of mining is expected this
week.
There are said to be very large orders in the
market to buy Erie in the viciniey Of 81.
Bear reports on Mexican National circulated
Saturday are said to have come from Boston
supporters Of the Mexican Central scheme.
The buying of Northern Pacific common Sat-
urday indicates considerable advance. A
heavy upward movement is expected in st. Joe
preferred this week.
The peg price on Lake Shore was 11S 1-S, ex-
dividend, at the close.