Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-02-03
WALL STREET.
Effect of the Paris Failure
not Serious.
Alliance Between the Granger
and the B. & 0. R. R.
Stocks Generally Holding up
Well.

NEW YORK, February 3.-The course
of Wall street market depends in large
manner on the condition of affairs abroad.
If Saturdays settlement at Paris is made
without serious disturbance, the market
will undoubtedly advance next week. The
leaders are understood to be in q position
where they can sustain prices or advance
them as circumstances seem to require. 1t
is certain that considerable of the pur-
chase stock that has been made in this
market is for London account A Broad
street firm bought 10000 shares for Europe
account Tuesday and Wednesday. A
leading foreign banking house received
orders yesterday to buy 10000 shares of
long stock. Another foreign house bought
60O0shares New York Central yesterday to
cover a short sale made in the early part
of the week. One or two private cables
give an unsatisfactory account of the stu
alton at Paris, while Others express conf
dence that the worst is over.
The Baltimore IL Ohio Railroad Com
pany has formed an alliance with the
Erlanger system, and thus secured its CO.
operation in the Jersey deal 1t is under
stood that the Baltimore q Ohio Company
will, instead Of building its line through
Delaware, connect its road at Martinsburg
with the Harrisburg g. Potomac line,
which will give them direct connection
via the Reading 81 Jersey Central with
New York. The details have been fully
arranged, and the new interest will come
into control without any contest
1t is reported that plan is on foot for
the pooling Of the anthracite coal business
for term of years:
1t now transpires that the parties
whose selling Western Union attracted SO
much attention a few days ago,are known
10 have sold with the expectation of buy
ing more cheaply. Very important de-
velopments are likely to take place In
Western Union soon, Parties who know
what is TO transpire are buying stock for
sharp rise. The earnings of the company
showed an increase last week of about
| $4,000. a.
Vanderbilt and Gould houses are alike
bullish on Union Pacific. Important ne
gotiations between the Union Pacific and
Central Pacific are pending, and it would
not be surprising il closer relations be-
tween the two companies came into ex-
istence during the next thirty days.
Chesapeake & Ohio is said to be
ready for an advance when-
ever the market is favorable. The
earnings of the road show largeincrease
for January. The Denver & Rio Gnnde
earnings increased $l84,000 for January.
BOSTON and Baltimore were large buyers
Of government bonds in this market yes
terday. The demand for good railroad
bonds is improving. President Keep, Of
the Northwest Company said last evening
that no meeting of the Executive Com
mittee was held yesterday. and that none
would DO held during his stay in the city
Parties last evening claimed to know that
certificates for new issue Of Northwest
stock had been prepared.
IL is said that developments Of import
ancc in connection with the ST. Louis g.
San Francisco road will soon be made
public.
market opened 2 per cent higher than
Yesterdays closing. For Adams express
x per cent, and per cent. higher for the
rest Of the list, the greatest advance being