The Portland daily press., 1882-03-27
WALL STREET.
Saturdays Mannuvres-Future Course

Saturdays Manouvres-Future Course
of the Market.
NEW YORK, March 25.-Wall street reports
state that the market is being handled with
consummate skill. 1t was evident yesterday
morning that some of the bulls had thrown
over their stocks and pnt out lines OF shorts in
anticipation of reaction. Seeing this the bull
leaders apparently withdrew support from
Texas Pacific, Missouri, Kansas and Texas
and Wabash, and perhaps made an attack on
Erie. The room traders lost no time in selling
down the unsupported stocks. The bears also
tested the market, selling good deal of stock.
The sustaining orders came back SO quietly
that the shorts did not realize what had hap
pened until the market began to boom. Then
a scramble to cover caused the sharp rally at
the close.
There was great uneasiness about noon, but
reassuring dispatches from leading houses
caused an increase in out of town buying. For
eign buying was light, although there is said
to be an order in the market to buy 100000
shares OF standard stocks next week. New
pools have been formed in several stocks, and
the bulls last evening were very confident of
higher prices to-day.
A member OF the bear party said yesterday
that they had out more short stock than at any
time before for three months. If they were
forced to cover there would be boom in the
market, but he believed they would win, and
that prices would be lower within sixty days
than they had been at any time hitherto
this year. Money is said to be easier than
it has been just before the April settlements
for many years. Treasury disbursements are
the cause.
Western Union has opened a transfer office
in London. Heavy purchases of Western I'm
ion are attributed to Mr.. Gould, although we'll
informed brokers allege that Mr.. Vanderbilt
was large buyer of the stock.
1t is almost conceded that Mr.. Vanderbilt
intends to make some arrangement between
New York Central and Lake shore by which
the value OF the latter will be materially en-
HANGED. Some operators in Vanderbilt stocks
are selling Lake Shore and buying New York
Central.
The bear party tried to make Denver the
weak spot in the market, but found it support
ed on all sides. Proxies for the approaching
election are out, but it is thought there will be
no opposition to the reelection of the present
officers.
1t is alleged that Mr. Garrett cannot get the
Ohio and Mississippi road out of the hands of
Mr.. Could 1t is believed that compromise has
been made by which Mr.. Gould will act with
Mr.. Garrett in the Ohio and Mississippi mat
ter and vii assent to the Jersey Central
scheme while Mr. Garrett will restore har-
nonlous relations between the Baltimore
and Ohio and Western Union Telegraph Com
panies.
Conservative people say that while the Wa
bash statement represented the condition of
affairs in 1881, the higher rates prevailing this
placed the company on an entirely different
basis.
There is continual selling for foreign ac-
count of Erie stock and seconds The Keene
party is understood to be heavily short A
prominent commission house is said to have
orders to pick up all the floating Manhattan
stocks. Blocks of Rochester and Pittsburg in
comes are being locked up for much higher
prices. New York, Chicago and st. Louis first
mortgage bonds are delivered ex. the June cou-
pons.
Parties in the interest of the Southern Paci-
fc railroad are stated to be heavily buying
South Pacific stock, as that road runs near the
mines.
Gable subscriptions were depressed yesterday
by parties supposed to be anxious to buy them
Bull points on Canada Southern were circu-
lated last evening.
A prominent bear is said to have asked Mr.
Vanderbilt for private terms on Lake Shore
and to have been referred to the Stock Ex-
change.
Peoria, Decatur and Evansville earnings in
creased $5923 The first two weeks in March.
Conservative people anticipate sharp rise
in Jersey Central, followed by prolonged de-
cline. 1t is understood that the receivers re-
port will show floating debt of about 81 000,-
600.
London and Amsterdam are absorbing a
good deal of Louisville aud Nashville stock.
Parties amiliar with affairs in Utah are
bears ON Union Central Pacific stocks, on a be-
lief that the mormons will make serious trou-
hia