The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1882-03-16
WALL STREET.

The Fight-A Review of the Situation
What the Bears Say-Railway News
&c.
New YORK, March 15-Wall street reports
state that it is evident that Messrs Gould, Van
derbilt, Sage and Field have undetaken to turn
the market. 1t is equally evident that they
will meet all the resistance which the bear
combination can make. One of the leaders of
the bear party, a temporary bull not long ago,
believes that his late associates are afraid to
bull their own stocks, and it will take some buy
ing to convince him of his mistake. The plan
of the bull leaders is understood to be to sus-
tain six stocks and advance three or four. Yves
tern Union, Missouri Pacific New York Gen.
trial. Lake Shore, Wabash and Manhattan first
preferred are supported at present by orders
practically unlimited. The only question is
whether the bulls have the nerve to stand the
pressure for week or ten days. If the policy
begun yesterday is carried out, a bull market is
certain. but if Lake Shore, Western Union or
Missouri Pacific drops three or four per cent
there will be scramble to get out. If the bulls
advance few stocks about one per
cent day for week, there viii be buying
enough after that time.
Inside information indicates that the bears
are not alarmed. They make merry over the
exhibit of securities which Mr.. Gould "has yet
to SELL" and say that it was made only for eff
feet, and that there will be no bull market I'M
til certain parties give them the stocks they
want upon satisfactory basis. The unlimited
order in Western Union yerterday was at 10 and
Lake Shore 1l34.
The Rothschilds of London have lately been
large buyers of Illinois Central. Twenty-eight
thousand shares are understood to be registered
in their names.
Dealers in exchange do not look for higher
prices this week.
The foreign demand for American securities
is an encouraging feature in the market. Mr..
Vanderbilt is said to have bought Union Pacific
yesterday, although that stock IS not one of
those marked for support. There was some buy
ing OF Union Pacific for Boston and some for
Philadelphia account. The earnings of the
company continue to increase The cable pool
ing agreement is said to provide that in case
one of the lines ceases to work, the other, while
in operation, shall receive IL per cent. of the
gross earnings.
1t is understood that the st. Paul Company
will declare a 3 IL per cent. dividend to-day.
Bear operators attacked Denver yesterday
with the hope of weakening the rest of the mar
ket by successful raid on that stock. 1t was
alleged that Gen. Palmer's stock was forced
on the market and the old story of an over
issue of bonds was repeated. 10000 shares
were bought near the close.
Wisconsin Central bondhOlders object to the
companys guaranteeing the bonds OF the pro-
posed extension in opposition to the Milwaukee
Northern Road.
The sixth 10 per cent. installment on Rich
mond and Allegheny and Ohio Central SUBJ
Scriptions is payable to-day. The full amount
of Ohio Central stock due upon the subscrip-
lions will be delivered March Is.
A 10 per cent. installment on Texas and Col
orado subscriptions is payable to-day.
New York Central sells ex-div. to-day.
There is an increased demand for Hannibal
and ST. Joseph preferred. Bears had the point
last evening to sell Louisville and Nashville.
Large purchases have been made of Missouri
Pacific