Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1883-05-07
THE WEEK IN WALL ST.
The Bond Market at New York tho
Most Active Feature.
RAILWAY SCHEMES AND GOSSIP.
The Crowd at Chicago Anxiously Awaiting
Reports About Winter Wheat-The
Rates or Corn and
Provisions.

New YORK, May COT the week in Wall
street, the Financial Chronicle says: The
market for stocks has this week been
affected less by news regarding the crops
than it has been by speculative manipula.
tions. The leaders seem to recognize the
fact that nothing reliable can be ascer.
tanned regarding the yield of important
staples OF the country at least for q month,
and they have apparently left the market
in the hands of the
Professional Traders.
These spectators, in order to influence
prices OF certain specialties put in circu-
lation stories OF intended com mbinations, q
few of which may have some basis OF
truth, but it is probable that the majority
have very little foundation. In fact, one
feature OF the market this week was sharp
advance in the bonds of the New York,
West Shore and Buffalo road. This was
accepted by some spectators as an indi.
cation that prominent capitalists expected
that this new lire would prove a very for
midable opposition to the New York Cen.
tral, and free sales of the stock OF the last
named company were made, accompanied
by the rumor that the New York Gen.
tral
Would Reduce its Dividends.
In the early part OF the week compara-
lively little support vas given the proper
ty, but on Thursday it reacted, the recov.
ering being aided by the favorable exhibit
made by the Lske Shore of the business OF
last year, which, however, showed results
no different from those indicated in the
preliminary statement as long ago as last
| December The rise in Denver and Rio
Grande was caused by the announcement
that the line will be opened to Ogden,
where it will connect with the Central Pa.
| cific, by the 10th of May. and there was
also q report that the Union Pacific would
consent TO favorable
Traffic Arrangement with the Road.
Central New Jersey was strong, in view Of
the early meetings OF its stockholders 10
take action upon the matter Of the re-
mOval OF the reCeivership, and also upon
reports of lease OF the road by the Read
| irg. The com mbination is now said to in
clude the r, alirg, the New York Central
snd the Baltimore and Ohio. As said
above, the general market shows very
strong undertone, even though there is no
| positive advance in prices.
1t was stated this morning that the
Ohio Central Company
had received from a strong corporation q
property on guarantee OF fixed charges
and a division OF net earnings; an officer OF
| the company says that The proposition will
be accented. 1t was known some time ago
| that the Chesapeake and Ohio would lease
| the river division Of the Ohio Central road.
| A railroad man gives the following as an
| inside statement of the Gould-Seny com.
bination: Just before Mr.. Gould left for
the Southwest,
The Gould Syndicate
| purchased from members OF the Seny syn
dcate on private terms $1,000 shares OF pre-.
ferred s., 10000 first mortgage bOnis at
| about eighty, and 81, 100000 Of incomes at
about forty. II was agreed to lease the
| Tennessee system to one of the Gould roads
| for 800 years upon guarantee OF interest
| on the first mortgage bonds four per cent.
on the incomes for two years and six per
| cent. thereafter. A condition was also
made to the effect that member OF the
Seny syndicate should inspect the Gould
roads, while representative OF Mr.. Gould
should
| Inspect the SeDy system;
| upon nc, cement thereaftc- consolidation
| might take the place OF the proposed
| lease" A member of the Gould party, re-
| ferring TO this ,tement, said: IL do not
| think as much IS this has been accom-
| plshed. There have been some confer.
ences, but, as get it, the real purpose is to
try TO effect consolidation Of the East
Tennessee Memphis and Charleston and
Norfolk and Western Companies. After
this is done something farther may be de-
veloped. But think this will precede
any other motive" An operator said -
understand that an effort Will be made
| during the
Last Hours OF the Legislature
| Io r,,sb ,brongh a hill lepslizinp the nj legged
| invalid issue of Western Union stock. D
course the movement may not be a.
tempted, but know there is such plar
and think it will be brought up il the
chances for success are consldercl fayora
| Bile