Daily globe., 1883-06-16
NEW YORK..
Especial Telegram to the Globe. !

Especial Telegram to the Globe.
New YORK, June 15.-The Vanderbilt
stocks were very active and strong at the
commencement of business, particularly
Lake Shore, also the grangers. The Wa
bashes came next, with rise to the com
mon above 80. Before midday the mar
ket became exceedingly dull, prices droop
ed, and at one time it looked as though a
slight downward turn all around might be
at hand. Later prices stiffened and Wabash
sold at 315a and Ohio and Missis-
sippi advanced per cent. The volume OF
business has been lighter than on yester-
day. There was no special pressure OF
stocks at any time. The closing quota
tion on New York Central is less the .
per cent. dividend and Northwestern com
mon is also ex-dividend of 315
per cent. Canadian Pacific was
active. The third option
of $10,000,000 stock is reported as having
been taken at the price fixed by the syndi-
cate, and considerable bull talk ensued in
consequence. Jersey Central and Reading
weaked On the report that the Pennsyl-
vania railroad have leased The Lehigh Val
ley. the room traders offered stocks
pretty freely during the last half hour, and
prices were inclined to be easier at the
end. The Vanderbilt stocks have begun
to move, and brokers identified with them
say they will very quickly recover under
the dividends declared. The 1irmness with
which Western Union holds its advance is
claimed to be indicative of fur
| ther advance. The Northern Pacific
stocks have strong support, and the Vii
lard people have bought freely, without
showing evidence of steam or of other
manipulation. The short interest and the
interest composed OF parties who have
realized and who wish to recover their
holdings are talking very bearish. They
say the strength of the market is due
wholly to manipulation. Mr.. Gould is
said to have been a large seller, and D. P.
Morgan is reported as intimating to
friends that it is not worth while to be
himself temporarily bear. Mr.. Bell and
Mr.. Bird have been prominent among
offerers of stock. Mr.. Smith is rather
non-committal, but is thought to
believe prices high enough for
the present. HH Against thisl surface
current of bearishness is a very decided
strength in prices. A broker among the
most conservative and best informed on
| the street, said to-day: 81 hear all this
| bear talk, but it has ceased to have much
effect upon me. If Gould carries out his
plans as now outlined, Mr.. Morgan cannot
do very much. OF course he can put
Jersey Central up and down, but granted a
few things the market will go up in spite
of Mr.. Morgan or any other man. It
looks to me like the beginning of a bull
market" An operator said: 81 under
| stand Vanderbilt's trip abroad was quite
largely for the purpose of correcting
false rumors in regard to the con-
dition of the properties. A very
determined effort has been made by g
party here to create uneasiness abroad
with regard to American securities. When
| Vanderbilt reached the other side he found
his misrepresentation worse than he had
| supposed. He came back very indignant
'S""iN S0AIdIu pSop4e aIiO L uuUSrSbduu d
combination has been formed to punish
the bear interest in Vanderbilt stocks. 1
hear proposition to permit covering was
very haughtlly rejected
Mr.. Keene is thought to be a buyer of
st. Paul. Brokers supposed to represent
him have been large purchasers. Points
have been given to buy st. Paul for 10
next month. The fact ttat the company
has wiped out its floating debt has extend
ed good influence. The decision of the
| board not to build much road this year is
helping the stock. There have been some
rumors to the effect that Mr.. Mitchell NAV
resign the presidency of the company next
fall. In case he should do so he will prob.
ably be succeeded by Mr.. Merrill. People
who know something about the matter say
M. Mitchell would probably make his
resignation conditioned on the acceptance
of the position by Mr.. Merrill.