The Portland daily press., 1882-04-20
WALL STREET.

A Batch of Rumors About Mr.. Wander
bilt-The Jersey Central Dilemma-In-
teresting Reports About Crops, Etc.
New YORK, April 19-Wall street reports
state that bull houses allege that the great
operators bought stocks yesterday, that the
foreign demand was good, that the market
showed a hardening tendency, and that those
who bought for long turn were steadily ab-
sorbing small lots of stock. A meeting of the
directors of the Jersey Central Company will
be held to-day, to consider the subject of call
ing an annual meeting for the election OF Off
GERS, sc. 1t is intimated that the dilemma
will be solved by the lack of quorum. In
this case. it is said. the Gowen party will ask
the court to order an election.
1t is alleged that Mr.. Vanderbilt is large
borrower of New York Central, but that de-
liveries of stock In his name will soon be made.
Mr.. Vanderbilt is reported as saying that gov
ernment bonds at 100 and New York Central
at ITO will not make him appear such a fool as
some folks thought he was when he exchanged
Central at 100 for governments at par
Lake Shore was pounded down, great
many stop orders were reached, and some
English held stock was shaken out. There are
rumors that Lake Shore will be supported at
par but no one credits them. The bearish
talk of Vanderbilt brokers and the concealed
covering yesterday are considered the best bull
points on the stock.
There are fears of break in Wabash pre-
ferred. The buying by an Exchange street
broker yesterday caused com -nent and cover
ing.
The latest crop reports indicate that bad
weather has given farming decided check.
Winter wheat has been badly hurt by frost in
some sections, and chinch bugs have appeared
in a number of places. There has been large
increase in the acreage of oats, but it has been
at the expense of acreage in spring wheat
spring wheat in Dakota. Corn planting is
well along in Kansas. The grain coming for
ward is from elevators and not from the farm
ers.
louisville and Nashville was sustained yes
terday when the market was weak, but was
left alone when the market was strong. 1t is
alleged that insiders have sold or are selling
their stocks, and that decidedly lower prices
will soon be reached. Insiders declare that
shorts in the stock have been covering for sew
eral days. 1t is stated that the dividend will
certainly be paid, and there are reports OF buy
ing by Louisville people. The net earnings of
the company in March were $514, ,461.
1t is rumored that Mr. Vanderbilt has sold
his holdings of Erie and Western, in order to
weaken the Sevey party in its plan of connect
ing Erie and Western with the New York,
Chicago and st. Louis. The rumor appears to
have little foundation.
Insiders on Reading affirm that Mr.. Wander
bilt has not sold his Reading stock, but has, on
the contrary, increased his holdings.
Rumors of an unfavorable reception to Mr..
Gowen in London are unfeunded. He stopped
in London only six hours.
The strength of Denver, yesterday, increased
the bearish feeling on the property. Broad
way house was heavy seller yesterday
Traders made drive at the stock at about 60,
and the rally was on purchases by broker
identified with the Gould party. President
Palmer has not yet returned from Mexico.
The strength Of Michigan Central is said to
come from Boston parties, disposed to regain
control of the road.
A director of the Union Pacific Company
bought block of the stock yesterday.
There was good Chicago buying, yesterday,
of st. Paul and Omaha common and preferred
A good demand is reported for New York,
Chicago and st. Louis firsts.