Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1883-10-23

ton at 1:0 p m. The excitement at thu
STOCK Exchange subsidized and prices
raised zdl per cent in general ~ pei
cent IN Wizards Northern Pacific
common sold down to ., preferred &c
6ia4, Oregon Transcontirsntsl Az and
Oregon Navigation 1Os.
A Revision or the Day.
NEW YORK, Oct. 22.-The Govern
ment', strong changes in the narke,
today leaves 1t generally higher than al
ths close on Saturday. Northern Pa
clfic stands l.per cent; Oregon and
Iranscontinental, %; Oregon Railway
and Navigation, 5; Northwestern, pre-
ferred, 3. Tue only stocks tEat are
lower are: Northern Pacific, preferred,
%, and Manitoba, a. The turn In the
speculative temper of tue market which
began last Thursday is developing new
force from day to day. A, first the
preponderance of popular opinion was
that 1t was only little squirt in New
Jersey Central and Northern Pacific
preferred. The corner" was pro-
nounced by the bears to be only a
tempest In a teapot" bat in both Ca
ses the majority of spectators we're
mistaken, and there are some indica-
tons that the success of the bears for
the last few months has BETRAYED them
INTO overselling other stocks. 1t is
claimed that beth the Union Pacific and
Michigan Central lead to a consider
able extent IN that position, aud there
are also some indications that the fight
on Jersey Central has not ended. vet the
market opened active and excited.
First sales of Northern Pacific. pre-
ferred, were at 6Od6o1<d 59J1, against
5317 at the close OF Saturday. Other
active shares were all higher in early
trading. Northern Pacific, common.
ran off to 25s<, against PIX at the open,
ing. The dizziness in these shares was
due to bear manipulation entirely. il he
Ing stated that a prominent operator on
the "sEort" side borrowed a round lot
OF preferred stock and offered it at easy
rates with the view of creating an i'm
preston that stock was more plentiful
and not wanted. Wizards were the
features. advancing 5 per cent. for com.
mon, lO4 preferred; cash sales, 2A(d2L
per cent. Sharp use and activity in
these shares caused general rush by
bears for other active stocks, and the
excitement at one time was intense, and
about MIDDAY there was regular bear
panic, and the shorts, in their anxiety
to cover, rushed prices up ON them
selves. 1t was rumored at this time
that Union Pacific and Oregon Traps
continental, and other heavily ovsrsold
stocks, were to bs twisted. After l d.
no. the excitement subsidized, and there
was reaction of a to per cent. in
the general list, and ad5 in Wizards.
Northern Pacific sold down to 2 for
common, preferred to 643<, and Oregon
Transcontinental to AZ. The reaction
was due to the realization, toward 2 D..
M, that another buying movement had
set in, and Western Union moved up to
1873, Oregon Transcontinental to 46%.
Union Pacific to SO, Northern Pacific to
3OA, do preferred to 6S4, and North
western 1904. During the last half
hour. however, the bears made vigorous
attacks on the whole market, and suc-
ceeded in depressing prices u to "a per
cent. in the general list, and ~ to 8
per cent. in Wizards. The raid
near the close was engineered
by operators who have been
prominent on the bear side for some
time past, and are DESTROYS of checking
the Improvement before public senti-
Inent changes. On the other hand it is
reported that the bull party in the North
ern Pacific intend to follow up their
iii stock, and for this reason
encourage short sales. Important de-
velOpments are expected in Oregon
Transfer. 1t is stated that a powerful
syndicate has been formed on stock.
The Ereainq Post says: There are, as
yet, no signs that the general public,
outside of Wall and Broad streets, have
taken any considerable part in the
market. Holders of Northern Pacific
in and near by the city sent it in and
sold for cash and bought for regular
delivery. There has been an increase
in dealings in Jersey Central and to
some extent in other stocks, but ON the
whole the contest ia still almost wholly
between the two opposing factions here
in New York. The outside public never
sells short; it does not take kindly to
that method when not on the bull side
and is not in the market. Az to
whether the public will begin to buy
depends on whether the bull clique can
show their ability within the next ten
days to advance prices and sustain
them.
The Money Market.
Money 216@3lS. Closed at 2. Prime
mercantile paper 6Q7. Sterling ex-
change. Bankers bills dull, 1904, ster-
ling exchange; demand 4.84.
Northern Pacinc Affairs.
New YORK, Oct. 22.-Private seuti-
ment in Northern Pacific made today a
pool of $1,000 shares, and paid 20 pei
cent, to be lent of room traders; losses
are estimated at 10000 shares. Wizards
friends claim he has 245.000 shares
of Northern Pacific preferred in hii
box. President Willard said this after
noon: 81 am not prepared to Say
whether the necessary three-fourthi
preferred stock has been secured II
favor of the new issue of bonds. Ihavs
not yet examined the transfer book" :.