The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1882-04-01
WALL STREET.
the Manipulation in the Market-The Tel

the Manipulation in the Market-The Tel
egraph Railway Notes. &c.
NEW YoRR, March 31.-Wall street reports
state that the bull leaders say that the upward
movement has been checked to allow new
combination to secure a line of stock, and that
the advance will be resumed within few days
at farthest.
Europe was large buyer of bonds yesterday 4,
and a buyer, in considerable amounts, of Dem
yer, st. Paul and Ontario and Western stock.
Exchange has declined below the point of gold
shipments, and easy money after to-day is as
sured.
The traders in Western Union sold their long
stock and were short at the close yesterday
Bets were made that the stock would not touch
90 again for fortnight. Mr.. Gould says
that the report that the Mutual Union is to be
used against Western Union by and by is pure
invention.
The proposition for an agreement between
Western MON and the American Cable Gem
pany has been changed. 1t is proposed to issue
$10,500,000 of cable stock, on which Western
Union will guarantee 6 per cent under the
pooling agreement of the cable companies, The
American Gable will receive at least ST. 900 600
per annum net The advance in cable rates
will probably make the net receipts nearer ST.
100000. II the proposition is adopted tit is said
that majority of cable subscriptions have as
sented thereto) the cable stockholders will
receive $630000 per annum. The remain
der, whatever it may be, will go to Western
Union.
The feeling on Reading is very bulish. Yes
terdays advance was accompanied by rumors
that Mr.. Gowen had perfected arrangements
for the issue of his 5 per cent consol bond. De-
ferred bonds were bought at premium in Lon
don yesterday for delivery here. A prominent
house is said to have lately caused an expert
examination of the value of Denver, the result
of which was so satisfactory that the house in
question is buying the stock.
Michigan Central is being bought on inform
alton that feeders of that road have become
profitable. The weakness of Texas Pacific
Yesterday was attributed to inside selling
There was New England buying of Louis
vile and Nashville yesterday morning. and
inside selling in the afternoon. rumor
was circulated that Commissioner Fink would
become President of the Louisville aud Nash
will road.
Boston is buying Hannibal and st. Joseph
preferred in expectation that the stock will
speedily advance to par Insiders talk from
ITO to 115. Quite per centage OF Memphis and
Charleston stockholders decline to send proxies
to the present management. 1t is said that the
right to close the books for three months will
be contested and that the consolidation scheme
will be opposed on the ground that better
offer than that of the East Tennessee company
is obtainable.
1t was stated on very good authority yester-
day that Missouri, Kansas and Texas was the
Gould stock next in the line of advance.
Mr.. Hobbs was heavy buyer of May wheat
at Chicago yesterday, believed co have been
covering.
Peoria, Decatur and Evansville earnings in
creased the third week in March 1882, and for
three weeks $14,296.
1t is said that Wabash will begin rise next
week which will carry the price back to old
figures.
Arrangements are said to have been made to
advance Erie to so within sixty days.
Foreign holders are said to be turning secur-
tiles in rapidly.
The best information on Tennessee bonds is
bearish The Central Pacific clique promises
immediate advance in the stock. Mr.. George
M Pullman sails for New York April g.