Daily globe., 1883-08-19


Central was only nominal at 1015@12
with no transactions. When Gould covers
his shorts which we suspect he has al
ready done and goes long 100000 shares
there will be no more wires but the
striking telegraphers will 60 to work and
the little man will have bettered his for
tunes $5,OOO,00O worth on the double turn.
They tell US at the express offices that
good many stock certificates
are being sent out or
town. This indicates that
moneyed men are buying stocks and tax
ing them home. Appearances indicate
that the Lake Erie & Western will pass
into the hands of the Vanderbilt people
this fall. The total shrinkage of twenty
of the leading stocks from the highest quo
tation of last year aggregates $244,470,OO0
on capitalization of $96l 100000. This
shows the loss borne by the holders of the
properties during the past year.
AS to the report that Gould has recently
made private settlement with Willard re-
ceiving from him large amount of North
ern Pacific preferred at from zoe to 75c
and of the common at 35c to 37e to cover
| up his short lines, we'll informed parties
think it all twaddle. There is said to be
large short interest in Atchison,
Topeka and Santa Fe in Boston estimated
as high as 10000 shares, and this causes
good rallies on every decline. A. Kent, of
Chicago, one of the directors of the road,
is confident of an advance of the stock to
80.
The friends of Minneapolis s. st. Louis
are very bullish,,on that stock, the COM
mon rose to-day from 211a@234 bid
without any sales, at the close it stood
23I bid for common, 49, for preferred
and none offered. There was practically
no sales during the panic. 1t is said to be
in very strong hands.
The bond market was very active and
both the bankers and brokers reported an
increased demand for the better class OF
railroad bonds. This improved condition
was taken advantage of by holders tc
transfer their interests even at a slight
concession. Sales we're made of Chicago
Milwaukee & st. Paul, Chicago & Pacific
IS at 9215, and of Mineral Point IS at go
showing considerable improvement in thi;
lately neglected branch Of the
market Chicago, Milwaukee 8
st. Paul, Iowa, Idivision A
slightly lower at 6134, Sonora Is, advanced
to 1907, Big Wabash 5's were offered a
II.
During the recent excitement on Wal
street good deal was heard about tn
possibility of a panic, but the general sen
timent seems to be that the conditions O
a panic are non existant now. The fact /
pointed out that in the panic we had IL
1878, stocks were at high prices and NOR
widely scattered among the public. Sucl
is not now the case. Stocks have beel
finding their way back to Wall street fo
nearly two years past, and are now nearl
concentrated in. the hands of professions
operators. Ten days ago this fact wa
used as an argument why there could b
no severe break in prices. Securities
it was said, were in strong hands. The
were not strong enough to sustain the loa
they attempted to carry, and when tn
! tumble came mass was thrown upon tn
, market. The free purchases to cove
? shorts made it turn again, and bulls an
bears have apparently co-operated in
}. sustained effort to push up prices. Th
market was rushed upward as furiously ;
it had been driven down few days befor
g Through all this turmoil the loan mark
o has continued easy. The announcement
y the treasury that$5,0 100000 of bonds wou
IS be redeemed weekly without rebate o. i
g terest, beginning on the 22d inst, contri
% uted to allay the apprehension beginnir
> to be felt on account of the known NOV
IL ment of money to the west, which h
II now fairly set in for the fl
months. The treasury announceme
81 also stiffened the tone of the governme
III bond market.